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The 20-period MA has benefit in telling me where to join a trend-in-progress, and also best counter-trend entry zones. Join a trend in progress at or near the falling or rising 20 MA in the direction of the MA; counter trend when price pulls to an extremely overbought/oversold state from the...

Hi Gabfly, Shorting rallies to a falling 20-bar moving average or going long pullbacks to a rising 20-bar moving average gives you the momentum of the trend, so it's just a visual guide to where I plan to enter "with-trend" as I did with AMZN. I occasionally counter-trend trade (for example...

Chart of AMZN trade.

Chart of failure to re-enter my ES trade.

+ $124 Short ES @ 1136.50 on a breakdown of the premarket low, stopped out for +$20.20 when the breakdown found support and rebounded. With 2 cars I could've scalped a decent gain on one and been stopped out on the other. Well, it didn’t find much support, and then I failed to re-short...

+$124 Considering the AMZN trade was 100 shares lifted out of 400 offered, the result is not bad. Surely I must be getting close to a "profit-per-share" day trading record around here. (My ESRX $1200 profit last week was 500 shares.) BTW I need a live ES mentor. Desperately.

Let's see...if the sun rises in Asia, Asian markets will rise because of hope that sun will continue to rise each day. If the sun rises in Europe, European markets will rise because of hope the sun will continue to rise each day. These overseas rallies should lift our futures higher, and if the...

For the "Hindsight is 20/20" comments, come on! Time decay occurs right before your eyes and how many times has Neke done this?

You said you planned to swing trade more this year. If you'd bought 50 FEBRUARY puts last week instead of the rapidly expiring Jan ones, you'd have collected a nice profit today.

Puh-leeez get a clue! While spinning my lettuce with one hand, chopping my tomahtoes with the other, I stand on my head and analyze key reversal bars in my quest for the grail (which when found will be filled with Moet & Chandon). As for Louis and Victoria...well, I actually did have a...

LoveTrading, you quoted a beautiful illustration of my recommendation to Neke. It was expiration week and his Monday and Tuesday trades were great. That should've been the end of his trading that week :D

All Neke needs to limit his largest losses is to write a program that prohibits access to his trading account on the 3 days into options expiration. Neke, deduct your losses over the past couple years during these 3 days each month and let us know how much additional $$$ you'd have in your...

I've been day trading for just a year and a half and haven't put in the number of hours required to really have this stuff ingrained, but my journal still contains frequent notes like this: "Shorted DRI again @ 27.74 and covered quickly @ 27.69 for a $25 gain because I didn’t like the...

Wow, so THIS is what separates the noobs (me) from the pros (you)! My method has always been to enter when price has moved 1 centimeter away from the 20-bar moving average on my 3-min chart. :eek: All kidding aside, thanks for taking time to answer so many questions; it's been helpful.

A brief diversion from the thread's main subject, but can someone please explain what this means? Gunning stops, running stops, hunting stops, etc? Let's say a stock price has a resistance level of 50.00 and short-sellers have parked a collective 5000 shares worth of buy stops at 50.05 to...

"If you have an edge you will make money." "You have to be able to deal with big drawdowns if you want to make high returns." Why would you have to deal with big drawdowns if you have an EDGE??? Here's one of many day trading strategies that provides an "edge": Using a 5-min chart...

My comment was actually tongue-in-cheek.

Yes, he had to short BIDU. As an RTM trader he simply cannot allow a gap-and-go setup like BIDU to remain untraded! Here's where he made too much mistake, freewilly: He averaged into a loser using front month options THE DAY BEFORE EXPIRATION! Have you ever looked at a Theta graph of a...

Come to think of it, Al Brooks is all over that. I think he only enters trades using stops. I did use stops a few times last year to get into trades and the P&L turns green immediately because you're entering the trade in the direction of price momentum. For some reason I'm not doing that...