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What I don't understand is what do you base the fib expansion off of (the pull back?)? And which fib do you target?

Yes sometimes great tenacity can lead to problems. But they are working towards what they want. If they are smart about it (have a good edge and good psychology) then they will succeed eventually. Sometimes they won't. And as you said...it would be a waste. But at least they tried. You...

It is absolutely best to keep your job and live within your means based on that job whereas you don't need to trade to live...not because it is 'risky' but because there will be less stress involved...especially in your first few years of trading. If you are stressed out then it decreases your...

I think NYCHood had a gambling problem and didn't understand risk management. To new traders...this could of course happen to you. And I recommend NOT quitting your job to be a daytrader (or whatever). My advice is: 1) Find a system that gives you an edge...this isn't as difficult as it...

Of course you wouldn't see any reason to trade forex if you think it is a giant scam :) If you are trading something it makes things a lot easier to have it where you can at least sell half of something to minimize risk. With trading 1 futures contract you can't do that plus to have a 3pt...

For one thing I don't recommend trading futures if you have a certain account balance...like if you have 5,000 dollars in an account or even 10,000 futures may not be the best place to start. Going into forex is much better since trading 3 lots of eur/usd is much less risky than trading 3...

Exactly. If you post something explain it. This seems to be a new concept to the OP.

If you are explaining your system of course I want you to lay it out DUH that is called explaining things. You are just posting nonsense with charts and a bunch of lines all over it. Wtf does that mean? People are having issues with what you are saying as someone didn't know what a .86...

Look most people don't understand what you are saying. Like I said, either demonstrate what you are talking about simply on a chart or don't even post things because nobody knows what you are talking about as you are speaking in riddles. I am glad you found a great system but if you can't...

Why do people on here speak in riddles it is annoying. Just explain yourself or don't say anything.

How often are there double bottom and double tops though?

Okay so you NEED to have either a double bottom or double top for you to put on your trade. You draw a fib on a retrace of the bounce from the double bottom or top as long as the histogram is less (the pull back). And you get out of your position totally at the 5.7 fib.

This thread is confusing. Can you explain in easy terms when you go long and when you go short?

I think a lot of people on here are being unfair because they are just assuming I am some 20yr old trying to strike it rich and I just jumped into trading futures. But this is the internet so people like to talk sh*t because in the real world they can't. AlgoKid, don't jump to conclusions...

Thanks for your advice. Do you think I would be able to make enough to live on this way trading based on the 60 minute with one contract? Because the problem is it takes a while to get a great trade to line up on the 60 minute chart and oftentimes it happens when I am sleeping. I usually...

Well making 100-200 a day on a 5,000 dollar account isn't extraordinary considering 1 point moves=10% of what you put in (the margin for the contract). So even if you put in only 1 contract and made 1 point you make 50 dollars (minus commissions of course). The commission is around 5 dollars...

Any advice anyone? I have been having a real problem orchestrating this. This is the best I could come up with. My 'system' and what not is great, but we all know that doesn't mean a whole lot if you screw up getting in and out of the contracts. I wouldn't have this problem if I was just day...

Say I have a 5,000 dollar account balance. I have a system that literally gives me a 90% chance of getting .5 pts (but only .5pts). I am seeking to get the bigger moves but the .5pts is to give me cushion. I use other highs for stops so they are roughly 1 point away. Does it make sense to trade...

This is for the e minis...tell me if this makes sense or is too risky/stupid. Any suggestions will be very helpful. I am 20yrs old. I have a 5,000 dollar account balance. I have a system that literally gives me a 90% chance of getting .5 pts (but only .5pts). I have back tested it for...

I think the markets may go up a little higher but there is going to be more bad news. We aren't out of the woods yet (some say we haven't really entered yet). We may get a few rallies, but they are artificial. I would wait a while before getting into equities for the long. That is just me...