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Scott, a sad story. Almost like a reverse Jack Schwager interview, hahaha! I shouldn't laugh. I know the pain of divorce and halved trading and investment accounts. Married pussy is the most expensive kind, clearly cheaper to lease it. As we say down here: "What's the difference between a divorce and a tornado? None. Either way you're gonna lose your double-wide."

IMO index futures are a good place to be after experiencing the manipulation of narrower markets. But beware holding overnight. Oil is moving NQ late nights. It's so obvious I have been thinking about trading it because the spreads often are tolerably tight (unnnh!).
 
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Nlslax. They are custom fitted for most, but there is a stock XXXL size for ET members.
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Custom fitted sounds expensive. Perhaps I can find a used one in the ET Classifieds.
 
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Jessop, excellent! Do you have enough confidence in that timeftrame that you will play that routinely? Any other timeframes you like? I focus on channels in one second charts (clean as a hound's tooth) oriented toward round number S/R, so the idea of looking at a timeframe 3600 times higher always struck me as kind of voodooish. Thanks!
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I started off 18 months ago with the 1 minute chart (sometime even 30 seconds at the open) and gradually moved up through 2, 3 and 5 minutes to end up at 10min & 60min (plus 120min/240min views).

I just keep channels on my charts for the same reason I use pivots - they seem to have enough followers to merit use as R/S levels for profit targets and entries IF I get a market internal signal.

I've been a happier more relaxed trader since I moved up the TFs.

I started off at 1min charts because I needed instant feedback on my open positions and I also wanted lots of signals because that felt more comfortable emotionally in terms of making daily $$$ target (now I don't have fixed daily targets).

Cheers
 
Jessop, thanks. So you only use those longer TF channels if supported by shorter TF events? As support for entry/exit /reversal decisions, or as encouragment for a longer hold once a position is taken? I ask because I am simple-minded, if it reversed, it reversed, I couldn't care less why. Always willing to learn.

Re your increased comfort watching longer time frames, for the edification of our readers (and we ARE being read), I am the opposite. I get anxious when I cannot see what is happening in one of those moving molasses bars. I want to get a feel for the ebb and flow of the now. So in the lower left hand corner I keep a bid/ask tick chart up, just big enough to attract my attention when things heat up. I like to be able to say "OK, it's channeling nicely, we're on a roll" or "They're ratcheting with a series of floor rotations, it's a shakeout" or "They're just fucking with us trying to take our money in a dull period".
 
Those of you who subscribe to the WSJ (a decided minority on ET, I am guessing, you get your finance news from USA Today) and who read my market commentary drivel here in various guises know that I have a particular loathing for Market Watch's Virtual Stock Exchange ads there. I am highly offended that they picked a doppelganger of me to depict a puerile post-middle-aged trader high-fiving in a fucking GAME. Worse yet, Mr. "Buy low, sell high" moved from black and white on page B8 uptown to color on page A10. But it's a cheesy colorization of the original B&W photo. Looks even more like me (I look cheesily colorized in real life). Brown age spots. Drunk's burst veins on the nose and cheeks. Shaving rash. Receded hair line. Streaky application of Clairol for Men, especially in the spots you can't see in the mirror. They don't need to MAKE you stupid by playing their game, they know you already ARE.
 
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Jessop, thanks. So you only use those longer TF channels if supported by shorter TF events? As support for entry/exit /reversal decisions, or as encouragment for a longer hold once a position is taken? I ask because I am simple-minded, if it reversed, it reversed, I couldn't care less why. Always willing to learn.

Re your increased comfort watching longer time frames, for the edification of our readers (and we ARE being read), I am the opposite. I get anxious when I cannot see what is happening in one of those moving molasses bars. I want to get a feel for the ebb and flow of the now. So in the lower left hand corner I keep a bid/ask tick chart up, just big enough to attract my attention when things heat up. I like to be able to say "OK, it's channeling nicely, we're on a roll" or "They're ratcheting with a series of floor rotations, it's a shakeout" or "They're just fucking with us trying to take our money in a dull period".
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Yes - everything has to have a 10min signal as a minimum.........a 60min channel/monthly pivot level touch or even a 60min signal are a very nice bonus.
 
Quote from Arthur Deco:

My young friend Eusdaiki. When first I saw your handle I flashed on the image of an inedible Peruvian tuber. But upon googleing it, I discovered that I misremembered. I know that in fact you ARE young, because no one of MY generation blogs, personal home pages, or MyWebSpaces, and we never will. Clearly you are of the generation of my grandchildren, no offense implied. A gentle hint: if you wish to be taken seriously on ET, use a different handle from your other web activities, especially the pornographic ones. Something grand, or portentious, or sententious, which in a single word reveals to all the core of your psyche. I encourage everyone here to google him/her/it and see what I mean.

Now to the topic at hand (why did I want to type toepick?). I am an expert in overtrading, as I have had an overtrader in my care for several years. A most challenging case. I don't believe I betray any professional trust in discussing this, as we speak hypothetically. Perhaps you have noticed that a certain prominent poster on ET does not post trades EVERY day? Let us hypothecate that this trader traded TWENTY-FIVE times (12 and a half not-so-round trips) last Monday.


But back to you, dear Eusdaiki. My hypostatized patient overtraded Monday because he hates to be wrong. And because he IS almost always wrong, he thought to beat the system by trading the opposite of his intuition. Alas, even THAT was wrong. Second-guessing oneself is not the only cause of overtrading, I am intimately familiar with many more. Those who trade NQ are particularly prone (supine?) to this disorder. I would be pleased to discuss your own situation pro-bono for the benefit of our faithful readers. Al the best. Art.
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Ohh yes, Im young. Senior year in collegue. No offense taken, Im also my grandmother's grandchild, I have deep respect for those who manage to acumulate such an amount of years.
Respecting my webname, I use it in all of my web activities and I intentionally made myself a name so that google will point only to me when asked about my name. If you want you can also search for my other screen name xctico [I went through a few screen names before coming up with eusdaiki]
To my recall I havent made any porn, I try not to leave evidence of such entretaining activities.
Im glad to hear that you took the time to read the definition of my name. Good effort.

I've also fallen into overtrading before. Doing over 200 trades a day in rebates is what I consider overtrading. However I consider that such an instrument as NQ can provide with countless oportunities to enter the market. I would trade more once I get used to the fast pace trading that I can only maintain for a few minutes now without doing serious mistakes [im rusty from attempting swing trading for a few months].



NQNQ. I have no need to lie to you, nor do I gain anything from liying to you. I cannot just post a screen shot of my trade list as that will violate confidentiality issues with my company. But I can post the text of my trades, with time stamp price, side and quantity. Just for entretainment pourposes, I'll do that after the market today.
 
NA, NQU6.NA, B, F, 1504.2500, 1, CME, 0.0, 0.0, 09:29:08, 2006/07/13, R,
NA, NQU6.NA, S, F, 1504.5000, 1, CME, 5.0000, 5.0000, 09:29:57, 2006/07/13, R,
NA, NQU6.NA, B, F, 1504.5000, 1, CME, 0.0, 0.0, 09:29:59, 2006/07/13, R,
NA, NQU6.NA, S, F, 1504.7500, 1, CME, 5.0000, 5.0000, 09:30:04, 2006/07/13, R,
NA, NQU6.NA, S, F, 1500.0000, 1, CME, 0.0, 0.0, 09:46:47, 2006/07/13, R,
NA, NQU6.NA, B, F, 1500.5000, 1, CME, -10.0000, -10.0000, 09:46:53, 2006/07/13, R,
NA, NQU6.NA, S, F, 1499.7500, 1, CME, 0.0, 0.0, 09:47:03, 2006/07/13, R,
NA, NQU6.NA, B, F, 1500.7500, 1, CME, -20.0000, -20.0000, 09:47:08, 2006/07/13, R,
NA, NQU6.NA, S, F, 1500.0000, 1, CME, 0.0, 0.0, 09:47:46, 2006/07/13, R,
NA, NQU6.NA, B, F, 1500.5000, 1, CME, -10.0000, -10.0000, 09:48:28, 2006/07/13, R,
NA, NQU6.NA, S, F, 1498.5000, 1, CME, 0.0, 0.0, 09:49:53, 2006/07/13, R,
NA, NQU6.NA, B, F, 1499.0000, 1, CME, -10.0000, -10.0000, 09:50:33, 2006/07/13, R,
NA, NQU6.NA, S, F, 1498.0000, 1, CME, 0.0, 0.0, 09:51:02, 2006/07/13, R,
NA, NQU6.NA, B, F, 1497.7500, 1, CME, 5.0000, 5.0000, 09:51:58, 2006/07/13, R,
NA, NQU6.NA, S, F, 1497.2500, 1, CME, 0.0, 0.0, 09:52:06, 2006/07/13, R,
NA, NQU6.NA, B, F, 1496.2500, 1, CME, 20.0000, 20.0000, 09:52:34, 2006/07/13, R,
NA, NQU6.NA, S, F, 1496.0000, 1, CME, 0.0, 0.0, 09:52:40, 2006/07/13, R,
NA, NQU6.NA, B, F, 1495.5000, 1, CME, 10.0000, 10.0000, 09:52:55, 2006/07/13, R,
NA, NQU6.NA, S, F, 1496.2500, 1, CME, 0.0, 0.0, 09:53:06, 2006/07/13, A,
NA, NQU6.NA, B, F, 1496.0000, 1, CME, 5.0000, 5.0000, 09:55:02, 2006/07/13, R,
NA, NQU6.NA, B, F, 1496.2500, 1, CME, 0.0, 0.0, 09:56:28, 2006/07/13, R,
NA, NQU6.NA, S, F, 1496.5000, 1, CME, 5.0000, 5.0000, 09:56:54, 2006/07/13, R,
NA, NQU6.NA, B, F, 1496.2500, 1, CME, 0.0, 0.0, 09:57:17, 2006/07/13, R,
NA, NQU6.NA, S, F, 1496.5000, 1, CME, 5.0000, 5.0000, 09:57:27, 2006/07/13, R,
NA, NQU6.NA, B, F, 1497.0000, 1, CME, 0.0, 0.0, 09:57:40, 2006/07/13, R,
NA, NQU6.NA, S, F, 1496.2500, 1, CME, -15.0000, -15.0000, 09:58:50, 2006/07/13, R,
NA, NQU6.NA, S, F, 1496.2500, 1, CME, 0.0, 0.0, 09:58:58, 2006/07/13, R,
NA, NQU6.NA, B, F, 1495.5000, 1, CME, 15.0000, 15.0000, 09:59:11, 2006/07/13, R,
NA, NQU6.NA, S, F, 1494.2500, 1, CME, 0.0, 0.0, 09:59:17, 2006/07/13, R,
NA, NQU6.NA, B, F, 1493.5000, 1, CME, 15.0000, 15.0000, 09:59:51, 2006/07/13, R,
NA, NQU6.NA, S, F, 1494.2500, 1, CME, 0.0, 0.0, 10:00:00, 2006/07/13, R,
NA, NQU6.NA, B, F, 1495.0000, 1, CME, -15.0000, -15.0000, 10:00:24, 2006/07/13, R,



here's my list of trades. I had to take care of some bussiness that interrupted my trades for the first 15 minutes of the market... but you can get the idea.
 
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