Thanks QQQBALL. I'm still deciding between Lightspeed and IB, but don't want to get into that conversation here, as I want to keep the thread within the confines of trading. Can you pls PM me if you have any suggestions?. Appreciate it. SM
, I'm amazed by my pulling power. Now I would have hoped that you were going to be a hot, bronze skinned, brunette, with an exotic accent, but the name Howard put a damper on it!!!. Welcome back, my friend, and hope we can all learn together.
the first chart. I made some marking, and was wondering why you didnt trade these breaks as well on marks "2" and "3". Thanks.
Hi Kon, in hind sight that makes it nothing but commonsense. However, I think the fact that my first attempt with the 5-min chart application was working so well, that this was not a thought that even crossed my mind. I'm still in my infancy, where a profit excites me and I kind of become blind to the other opportunities. I had a "duh" moment when you sent me the chart, so I will be making sure I do not leave money laying around like that. Thanks. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3046118/spy.png">
Sam, One thing you might think about it that I see you initiating some positions in what technically is the "slower" part of the day. Between 11:00-1:00 approximately, there is sometimes more headfakes/choppyness, and lack of conviction. It can be a dangerous time to enter a trade especially if it is a tend following trade. If there is news and heavy volume, then that might overcome this tendency, but it is just something to watch out for. Same thing can be said for "slow days".. Days near holidays (especially) around this time of year can be back and forth days... One thing I am trying to do is dertermine the macro or larger term "atmosphere" of the market, usually on a technical level.. Identify keys areas of S/R. It try to do this b/4 the trading day even begins...
How true. It's shame I experienced it before your post showed up. For further elaboration, I will be posting this evening.
I have a hi/lo ticker (New Lows/New Highs window) on my PowerEtradePro platform, which also includes several watch lists, stock charts in multiple time frames, a Level II window, and streaming news. The main purpose of these sophisticated powerful tools is to keep me aware of important market events ("WSJ: Bill Gates More Admired Than The Pope" or "New Highs: Symbol: AIG, Price: 60.42, Count: 3498") having nothing to do with the instruments I actually trade (oil and euro futures), resulting in productive trading discussions with my roomies ("Sh*t!! I just missed a 60-tick breakout in crude!!) For more information on sophisticated tools, you can reference this handy guide: http://www.mail-archive.com/blindhandyman@yahoogroups.com/msg10825.html
12/29: Pic. 1: Trade 1: LONG: Entry 1: $28.10 Entry 2: $28.18 Exit: $28.14 $0.00 Trade 1: SHORT: Entry: $28.00 Exit: $28.00 $0.00 <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3046908/spy.png">