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Silliest trade (and interesting related story): In early December I'd lost money on some POT trades trying to catch a falling knife. My account was with Etrade and I paid $16 round trip on every trade, so scaling in and out of trades was cost prohibitive commission-wise. As a result I always...

Neke netted $130K one week in Oct 2008, but that doesn't mean we don't worry when he violates his own rules...again. (Sorry, I'm ET's resident Mom, so I always worry.) What if he does this again next week? And the week after? And the week after that? Uh oh, now we have a real problem...

On that note, something I practiced in sim with great success that I'm transferring to my live trades (and this should benefit Neke and other frequent counter-trend traders) is at the point you are ready to put on a counter-trend trade, choose where you would place your stop, then place your...

The reason for traders going long doesn't matter, whether it's institutional investors taking advantage of buying BIDU "low" (many probably expect BIDU to easily hit the 500's now), or whether it's the shorts who didn't take their profits when BIDU was hugely oversold earlier last week. Now...

Of course it was possible because the vast MAJORITY of traders were going long BIDU on Thursday, which is why the price was rising. Was it easy for a counter-trend trader to go long BIDU on Thursday? No. Neke and Robert trade counter-trend quite often. The counter-trend trade is my...

OK, tattooing this onto my brain now. This is the difference between an automated system and a manual trader. Automated systems don't pause to think...

The BIDU trade was not unavoidable. You can choose to trade or not trade at any time. You are absolutely right though about the loss minimization because of the nature of the setup: BIDU gapped up on game-changing news. Not just good news like beating earnings or getting an analyst upgrade...

I've found that a "max loss" price zone is often the point at which price pivots, because the professionals are familiar with the kind of setups that lure traders into picking the wrong direction and also with the price zones that these trapped traders believe are simply way too outrageous to...

I recommend you learn some of the technical signals that cause traders to act. TIVO hit a 52-week high on 10/26, after steadily making higher lows and higher highs above a rising 200-day moving average after a partial retracement of their June 3rd gap up. Trend-followers like this and will...

Before you consider asking someone to mentor you, be sure they know what they're doing based on live calls of their trades, be sure they exercise strong risk management, and be sure the way they trade is compatible with your trading personality (such as if you're used to trading mellow SPY...

Those of us who are glass-half-full sorts imagine each of the buyers cutting their losses along the way in a manner that keeps them within their acceptable loss limits until that last buyer the day before the news drives the price up $60+ wakes up and books a vacation in Fiji...

I would add: Say to yourself out loud what price should do and why. Say it twice out loud, then pull the trigger. If price doesn't do THAT, you're out, whether a day trade or a swing trade. Now if I could only get myself to pull every trigger...

I would suggest, just as an experiment, stop out and reverse at the zone where a trade's intended direction is breached. With BIDU as an example, on Thursday it opens and makes a new high around $450, stalls and pulls back a bit, you buy puts, BUT you stop out if there's continuation and price...

I've been swing trading ES in my sim account based on a reversion-to-mean strategy from Keltner channel overshoots on the daily chart (20-period EMA; 1.0 Dev) with great success. I've been using stops just outside the pivot high. (There've been no channel line overshoots to the downside since...

+ $0 Day + $1199 Week + $1363 Month For several days in a row I hesitated on trades off the open, leaving thousands of dollars behind as a result, then was busy all week with various things I had to attend to, which is just as well because whenever I trade midday to afternoon I churn...

Flatron, I love you so much I immortalized you n my trading journal last month: "I guess I needed brass balls for that move, like Ammo and Flatron who, I will reiterate, have had an influence on me for better or for worse: Ammo: Short 1091, add 1094, add 1096, add 1102, add 1104, add 1108...

Does the money have any less value if, say, you short ES on its trip from 1147 to 1137 than if you go long from 1137 to 1147?

That's still etched indelibly in my mind's eye - FAS @ 2.36, and my finger's on the trigger and I suddenly think, "Maybe it'll go lower..." and I never end up trading it at all. I assure you if I bought those shares, I would've closed the position on Monday as well. The only way I can let a...

I don't trade BIDU, but looking at the chart, it was REALLY oversold the day before the news and I bet a lot options traders who play swing moves started back month call positions Tuesday and woke up to a very nice Wednesday. I feel sorry for the premium writers who didn't cash out, figuring...

I'm really sorry to hear about that hit today. Fortunately, you've proven recently that you know how to be a strong disciplined and profitable trader. Now it's that little part about being disciplined on every trade. Someon ET once posted this and I printed it out and stuck it on the wall in...