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Well, here we are at 3120. I think we're closing in on a major swing high here. We might be there already or we might have 10-20 points left. I'm short @ 3120 with a stop @ 3140 for a swing trade.

I closed it out for + 12 points 1,5 points from the current HOD in case you missed it. No longer nervous. LOL. :)

Did you shit yourself or did the trade work out for you? Or maybe both? :)

Sounds good. :) Mind me asking what you typically average per day on the ES per contract? I certainly do not average down at the moment, nor do I know if I ever will, but I do respect that there are traders like yourself and @Handle123 who seems to do it successfully. The key with this as...

Flat at 3116. + 12,00 I still think we trade up to 3120-3130 today, but sometimes you just want to ring the cash register.

3108 locked in. Holding for 3120 or more unless a sell signal is triggered.

Definitely a 'creeper' so far. Not much happening, but no sell signals yet either. TICK is mostly above zero and other internals are fairly bullish too.

Yes. Good point. What a recovery, though.

Interesting approach, volpri. I'm sure it can work well if one is disciplined and know what one is doing. Have you ever had any bad hits as a consequence of your averaging down?

You get the feeling that this is a bit too bullish though - hence my nervousness (also because of the late entry).

Got chopped up earlier this morning. Currently nervously long from 3104 with a stop @ 3100. Moving slowly here, but internals seems pretty bullish. EDIT: Adjusting that stop to 3099. EDIT 2: Stop @ 3100,50. Could take a profit here, but I'm comfortable risking 3,50 points in the event we...

Took out 3100 before we opened. I don't see much to prevent us from trading all the way up to 3129-30 today? Well within what's normal recently. Thoughts?

Seems like we're all set for another up day. Same game plan as yesterday. Bullish as long as 3078-80 holds. Will be stalking a long entry on the Open, but can't rule out a small pullback before we finally swing up to 3100 +. Should be interesting to see if a move above 3100 can bring forth...

The infallible FED system. :)

At this point I'm not sure what we're discussing. A 50 % win rate system targeting 2R have a positive expectancy at 0.5R pre-comission. Nothing wrong with that if you can sustain that performance, but not very robust. A fixed mechanical system will not generate more profits than an adaptive...

Well, the sum of the minor moves within a larger move will always exceed the larger move itself. If the retraces are deep and frequent the sum of the minor moves can greatly exceed the larger move. Let's keep it simple and say the market moves 100 points from 0 to 100 like this: 1. 0 -> 50 = +...

I feel you're comparing apples and oranges and in some ways stating the obvious. The reason day trading is attractive is because a higher/daily trading frequency allows you to rack up and compound daily gains. Ideally. Regarding letting your winners run and cutting your profits short: You're...

Closed well above now. Nice statement by the bulls here, IMO.

You think we'll trade that far? I don't think so, but we've come this far, so who the hell knows. :) 3100/3130 seems given, though.

It seems to be within what's normal lately, IMO. What did happen was that we broke out of last week's range, but fairly quickly reverted back inside. So, essentially an initial false breakout on higher time frames. No follow through below though and we're still in the green on the day.