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No trades today. I missed a few entries trying to use limit orders and didn't chase. After death by a thousand stops the other day, I prefer to wait patiently for what I consider the best setups and the action right now is not to my liking. I'm watching GMCR closely for one more thrust of...

While learning to trade ES in my sim account, I tried many strategies. All worked very well except one: Averaging into a loser. If I had an "opinion" about where the market should go and decided to build up a position as it ran against me, it often ended up hitting my max loss. Because price...

Very possibly I am an idiot; not certain, though, because I missed the exam last month. Notice, however, how the pullback from a lower high off the open today provided a nice counter-trend move of almost $3. If you waited patiently for this entry zone, no pain, all gain.

Perfect symmetrical triangle in an uptrend. The mistake the OP made was shorting it after it broke out of the triangle, through the previous resistance level and continued to rise, making a new high. Once price makes an all-time high, there is no resistance, there are no losers among the AAPL...

I set alerts to short this thing @ 79.00 twice and didn't heed the trade. Maybe third time's the charm.

Although I'm gradually transitioning to futures, I still keep a few stock charts up and watch for a couple favorite setups, that usually work out well. Counter-trend: If price establishes an uptrend or downtrend from the open, I wait for the 3rd push up or down, then fade the trend looking...

Quite likely.

I've only done very limited live trading of ES and haven't traded much over the holidays because I'm not too crazy about this range bound action. I've found two strategies that work very well and by focusing on one or two trades a day, I took some nice chunks out of the market a few weeks ago...

I agree there is plenty of room for upside, but I still have to wonder what the attraction is for X vs. STLD or AKS,expected to earn more per share and priced less than half of X. I guess it's strictly being traded off technicals...higher price, more movement.

OK, now my curiosity is piqued out of bounds. I looked at STLD and AKS, trading at 18.00 and 22.00 respectively. STLD 2010 earnings projection is 1.32; AKS 2010 earnings projection is 1.22. X 2010 earnings projection is 1.09 and it's trading around 56.00. What gives?

Cyber, I read that thread and didn't even look at GMCR! Shame on me! It's giving me the jitters again, though. I mentioned to my trading roomies that GMCR trades at a P/E you'd expect from a biotech that had a pending cure for cancer. Then it occurred to me: Maybe Green Mountain coffee...

Pretty low risk if it goes to $0 :D

Another day of no trades. Internet problems in the morning, then ES traded in a massive 1 pt range. I saw a setup with X, but hesitated on it and didn't chase it. I watched GMCR quite a bit, but didn't trade it either. So when the day was done, I'd traded trading for playing guitar :D

I'd like to know why as well since I have a swing short in UAUA, very small but underwater nonetheless...(maybe not underwater after today). Perhaps I should use my seat cushion as a flotation device :D

I'm currently easing my way into trading ES from strictly trading equities. I spent the past 4 months or so mostly trading in my demo account and then putting on limited live trades in between. Testing strategies and stop management over and over in sim has been incredibly helpful for me...

I will venture a guess that your buy stop is likely a good zone to be shorting AAPL for a pullback in its uptrend. Counter-trend trading works best when you short from above resistance or below support.

John, great post, thanks a lot; I printed that one out! When a stock is hitting highs many days in a row or gaps up a large amount overnight and seems "due" for a pullback, I look at the bigger picture to try to get in the heads of longer term investors, because the institutional traders will...

They got an analyst upgrade yesterday, so maybe some more upside before profit-takers step in: SanDisk Corp. (SNDK, $28.08, +$0.64, +2.33%) is "positioned for a solid 2010 with multiple tailwinds" said ThinkEquity analysts in upgrading the stock to a buy from a hold. The analysts said that...

SEC Regulations, Rule 803 (Outrageous Gaps): All outrageous gaps MUST be filled within 120 days. :D

Actually I didn't shoot from the hip. I was trading CL in sim most of the morning and getting a real good rhythm going based on S/R levels. I was in and out back and forth, all good trades. Mistake #1 was deciding to trade during a time of day during which I generally end up with scratch...