I had kept a journal for a while here but stopped it after about a month. This is going to be my next attempt. I have refined the strategies and have come up with one strategy that I'll trade. It is very simple. I'll buy or sell after 1% true buying/selling day. If the Dow, S&P and Nasdaq all manage to go up by 1%(on the same day), I'll buy on the pullback. For example the Dow, S&P and Nasdaq are in a downtrend. The very next day all the indexes go up by 1%, then it will be considered a true buying day. I will buy on a pullback and I'll have a buy limit order at 1pt above the low of that day. Stops will be at 3pts. below the recent low. So basically if the S&P is at 1205 and it manages to rally to 1218 then I'll have my buy limit order at 1206 and a stop at 1202. I have noticed that after a 1% true buying/selling day there is always some kind of pullback. Position Size, Money Management and Exits: I will not add to a winner and adding to a loser is out of the question. So if I'm going to risk $800 per trade, I'll buy 4 contracts if the price comes down to 1206. In case if I do not get stopped out and the market moves in the direction that I had anticipated, I'll exit half the positions(2 contacts) on a 8 day high and the next 1 on a 13 day high. I'll put a trailing stop on the last 1 contract and ride it as far as it takes me. I will not initiate a long position if the market is already up. For example Nov 10, 2005 was an almost 1% true buying day but it is already above 50 pts' off the low so I will not initiate a long position here. My goal is to hold overnight and get as much as possible with little risk, so I'll buy after the prices have declined for a while or sell after the prices have gone up for a while. My expectations for myself: I will follow the rules and do exactly as I have said here. If you read my previous journal you'll find that my timing has been perfect but I got screwed for not having an exit strategy when I'm up. I never hesitated to get out when the market moved against me but I hesitated to take profits when the market went my way. Whoever said ride your winners wasn't trading futures with a limited capital. My expectations from you: If you see me NOT following the above mentioned rules, please let me know and it sure DOESN'T have to be in a nice way. Good trading everyone and waiting for a 1% true selling day.