I currently day trade EBAY using Mark Fisher's ACD opening range breakout method (refer to end of this note for ACD details). I will post my trades at the end of each day. I will also post a 1 minute chart noting entry and exit points. The rules of my system are as follows: System Rules: Rule 1: Trade EBAY exclusively Rule 2: Do not trade until an *ACD bias has been established. Rule 3: Never fade the *ACD bias. (If bias long I can only be long or flat, if bias short I can only be short or flat.) Rule 4: Entries short must be on a minimum of a 15 tick bounce. Rule 5: Entries long must be on minimum of a 15 tick retracement. Rule 6: I cannot take a loss of less than 10 ticks (move my stop closer or further). I must allow myself to be stopped out. Rule 7: If the market retraces below the daily Fib 50% after establishing a bias then my default position size will be reduced by half. Rule 8: Profit target orders will be placed for all or half of the position a minimum of 10 ticks from the entry. (Therefore I cannot take a profit of less than 10 ticks) My aim is to place bets with a 1 to 2.5 risk/reward ratio. Rule 9: Maximum loss per trade is 10 ticks (1 to 2 additional ticks may be incurred as a result of execution slippage. Rule 10: Maximum drawdown on any given day is 5% of my equity. Rule 11: Default position is 100 shares per 1000 dollars of capital. (this rule assumes EBAY remains within a price range of 30 to 50 dollars) Rule 12: Exception to rules 2 to 5 . If no bias has been established by 10:45 am then I can range trade, fading strength and buying weakness at levels of resistance and support, with the objective taking quick profits. A 10 tick risk point remains in effect. If a bias is established at any point in the day rules 2 to 5 become active overriding rule 12. *ACD Bias currently uses a 5 minute opening range and requires 5 minutes of trading activity above/below that range in order to establish a bias. If the market trades 5 minutes above the opening range then I am bias long (Market is in A-Up) until the bottom of the range has been breached. If the market trades 5 minutes below the 5 minute opening range (market forms an A-Down) I am bias short until the top of the range has been breached. This is essentially Mark Fishers ACD range breakout system. If you need any clarification on the way it works then get your hands on Fisherâs book âThe logical Traderâ or simply ask me for clarification on my variation of his system. All number values may be adjusted as the system evolves but only as a result of prior planning outside market hours. My broker is Genesis Securities and my base commission rate is .003/share. This journal will commence tomorrow (Tuesday April 18th) IMPORTANT: Generally, I find it counterprodutive to tick watch once I'm in a trade. If a bias has been established my aim is to get a low risk entry point, set a stop and a profit order and then walk away from the screen until I hear the beep notifiying me that I've been filled. This keeps my origional idea/bet intact and keeps me from getting psyched out of the trade.