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Thanks a lot for the info guys! Didn't know about the European options, and using indexes instead to avoid early assignment. Also thxs for the tip on just closing out the stock position right after the assignment to cover the call.

Option newbie here. I was talking to my broker ToS regarding what would happen if the short put option was exercised early (yes I know it might be unlikely to happen), but I wanted to make sure I know what happens in the worse case scenario. Most places I've researched on the net and in...

Interesting... seems that even without using leverage you'd still lose -10K, although it's less than with leverage due to the amount of capital/shares in use during the loss.

Glad you're back positive. This is my first positive week also after a consecutive three week losing streak. Percentage wise it's my best week since I've been trading although the actual amount isn't that much due to the massive drawdowns from the past three weeks.

Four years of losing and still being determined to succeed is a very admirable. I'm on my 2nd year of losing right now, although I'm mainly just swing trading and not day trading. I'm determined to eventually succeed regardless of what it takes. If it takes four years as well for me which is...

I think you've learned your lesson with ODP, but it bears mentioning just because I too recently violated this rule myself with BBG: Don't try and catch falling knives! Everyonce in a while you'll catch it and everything will be fine, but most of the time you'll just end up cutting yourself...

I don't mean to be negative but just want to point out something... just because you have X losers and in the past you had a W% win rate doesn't mean that the next trade or one thereafter will *more* likely be a winner. Although it may seem that a trade *might* have a better chance of being...

Looks good glue. I like the idea of playing an alert and will steal that idea and add it to mines :) The 4bar reversal is intriguing. I also have a setting to set the min. # bars in the other direction that has to occur before the 3br shows up, and whether they all have to be HH/HL...

first cut at the 123 indicator for NT: http://img339.imageshack.us/img339/336/piscuy123qy7.png still trying to refine it to follow the signal bar down until a certain retracement level ...

I only trade very short-term and need some advice for holding really long term (ie. over 20 yrs or so). Would DOW stocks or ETFs be better for the long run, taking into account taxes and dividend yield? This would be for a child also. Thanks for any advice!

Insightful post on 123's being similar to hammers. Thanks. I see an advantage to trading 123's in the lower timeframe vs. trading hammers in a higher timeframe in that you can fill at a better price. ie. a hammer's head in the higher timeframe would encompass the high of all three bars...

nvm figured it out... 216.97.240.74

Hmm... that would explain why there was hardly anyone in the room when I logged in the past two days, and now just trying it again it won't connect. Perhaps they're updating their DNS and switching IP addresses and it hasn't been fully propogated through the system so some people are still...

Good advice. Another thing you can also try doing is to trade/monitor a different market while you're waiting for a setup. You shouldn't have all of your eggs in one basket/market anyhow. ie. I also trade options and there's almost always something to do there whether it's looking at chart...

After that you should've been in longer term non-scalp trades due to other patterns like ascending triangle breakout, channel bounces, double top, and double bottom. Although if you missed seeing those other patterns, definately 123 setups were embeeded in those patterns as well and you could...

Here's a marked up chart of what i saw in today's action: http://img185.imageshack.us/img185/7922/croppercapture2ba3.png In the morning there were two Piscuy 123's or in my mind they're just bull flags but the method has you wait for a 2nd bar to break the signal instead of buying the...

Glad they offer backtesting on tick data. Thanks for the info!

I'm trying out some backtesting strategies in this thread with NT and OpenTick and was wondering if anyone else is using this combination to backtest also? The strategies seem to be profitable depending on the settings but the problem I'm having is that I can seem to only get about 7 days of...

That's true. Definately screen time experience and comfort level with the conditions are a part of it. Happy holidays everyone. Hope you all got the presents you wanted!

I think Anek mentioned that his wife said the following which summarizes it best, "That's what stops are for dummy!" Just kidding, but I think I recall him mentioning on IRC a few days ago that she did in fact say that him when he was critiquing her trading about something :) Also, if by...