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LOL. Spend some time here in Scottsdale and you'll change your tune. The bars are jammed with Russian and eastern European girls (many of them strikingly beautiful) looking to hook up with a sugar daddy. Stories are legend here - and sadly true - of the 50 and 60 year old guys who...

Yes, that's what's happening. While even a couple years ago reversals could be played for a few days, profits now need to be taken intraday. And sometimes in minutes. I can't find anything anymore that works on a multi-day timeframe. Since the 80s and 90s, certainly everything has...

Just keep things simple and monitor the S&P. By keeping a one-minute chart of the S&P open on your desktop you'll see all you need to know when considering a trade, which is overall market direction. IMHO, anything else is overly complex. There is a tendancy in this business to make...

Honestly, I don't know why I'm bothering to post again because you aren't listening. I don't care if your family has 500 million and you lose $1,000. You will NEVER live it down, despite what they may tell you to your face, and despite what future success you may have in your life...

Based on this alone, you are a world class dope if you touch ANY family funds before you've proven your capabilities with your own money. Lose money - ANY money - from your relatives and you will never, ever hear the end of it. Is it worth it? Not by a long shot.

Thank you for posting the chart. But Flyfisher has just graduated from Trading 101 (as he is fond of reminding us), where he was taught that fading gaps is a sure thing. Over time he will learn otherwise.

I find your posts in this thread to be obnoxious. Trading in the rearview mirror is the first sign of a newbie. The S&P immediately rallied off the open this morning before reversing, which is typical of a major gap move. Assuming that you shorted at the open (Basic Trading 101...

A few thoughts to share with you. - Determine a trend in BOTH the stock AND the market, and trade only in that direction. This isn't rocket science. Use an EMA of a decent length, and eyeball the charts of the stock and the S&P. - Buy into a stock's weakness in an uptrend, and sell...

There are two sides to this issue. The first is what your broker requires, and they will tell you. The second is what you should require of yourself as a cash balance to support the trade whenever you are short a put or call. Why? Because it's very easy when shorting options to get...

The initial bad decisions were made by Greenspan and the Fed. The brilliant (!) Greenspan did not look ahead to fully consider the impact of his decisions. They created an environment where mortgage brokers came out of the cracks in the pavement to push low/no interest ARMS to homebuyers...

Yet one more scam on the retail trader. Stock opens for trading AFTER HOURS, after being halted at 2:30. Fortunately I was out before the halt on a quick short, but if I was still in I would be raging.

Yes, it is complete bullsht. It was a good trading opportunity. The specialist is probably sitting on his butt and can't handle the orders. So he halts.

Yep. Much too distracting.

A good observation, and my bet is that he was trading momentum, or pullbacks in uptrending stocks. The mystery is that after spending so much time in the markets, he was not able to adapt. But, everyone from the infamous 'TurtleTraders' to Jim Cramer are still living off the reflected...

I'm wondering here if my experience is common that trading doesn't really become consistently profitable until it becomes almost instinctive. And that doesn't happen overnight. Whatever setups one uses, it really comes down to price action and 'feeling' when to move in, and when to move...

My experience as well. 2 years to become "technically" proficient, another year to begin to overcome the the discipline hurdles. A total of 4 years to be profitable and confident in all market conditions. Really, not unlike any higher education. A year in the dark. A second year of...

That's a stupid comment with no basis in reality. The typical retail trader - not all, but typical - trades futures because they simply don't have the capital for a solid equities trading program. That's certainly the case with the majority of futures traders on this board. Most of whom...

As difficult as it is, some days are made for standing aside, or at most trading very small. This is one of those days. The market is not marked so much by fear - which is a good buying opportunity - as it is complete uncertainty, exacerbated by the holiday. So difficult to trade, even...

From your post I assume you're backtesting with daily data. It's very unlikely that you're going to find a system that works consistently in every market using only daily data. Over the past 5 years I've probably thrown away 10-15 systems that backtested wonderfully on daily data, traded...

You could have shorted just about anything that gapped up strongly at the open, and walked away with quick profits. Fortunately I did. As opposed to the relief gap yesterday, this morning was tailor made to short. No way it was going to rally off the open, and the gaps that got ahead of...