torero

Yeah, that's what my wife said when she thought I wasting endless hours day after day sitting in front of the computer. When I finally made money, she realized I did spent my time doing something worthwhile. People judge others prematurely without the benefit of the doubt and happens a lot. Just when you discard a person thinking he has no potential, they will come back to haunt them.

I'm not sure since the summer volume is in effect and the range has been narrowing. I can't tell if it's the migration or the summer. In either case, I haven't traded much because of poor price action. I've been more involved with agriculture since beginning of summer due to good range and gaps. I wish I knew this market before.

True. It's difficult to leave an instrument you trade for so long and only to have it pulled under you. A place you call home is now an abandoned house. I'm sorry to hear you've been struggling with your health. I had thought you've moved on to greener pastures (I mean other sites, not Death, God no). Hope all goes well with your recovery and health and see you contribute more of your experience and insight!

Well, James, you have one quality that will help you in your trading: doing your best at whatever you decide to do. You will to want to be the best salesman while you're at Nordstrom or Best Buy, even though it's not your true calling. That is a great quality. Can't tell you how many of us do everything half-ass when our responsibility requires us to do it (I included). Doing everything with great care and devotion, that's a class act.

Thanks for the info and nice to see you back here again, feb!!! Where have you been?!! I'm already starting to monitor and watch EMD, as it's the closest thing to ER2. Although I haven't started trading yet, I'm still making preparations. I noticed the slippage is sometimes 2 ticks, more often than ER2. So have to try to be careful and use limit orders more often.

When you get scattered ideas from different authors and concepts, this is where the confusion and frustration will begin. Moving from one trading strategy to the next is a common mistake in trading, never finding a holy grail. It's ok to read as many as possible but pick one and stick with it before trying out other methods from others book. I did this is the hard way and finally settled on one that changed my trading.

This is an excellent topic, thanks James for starting it. I think there is an element in human nature to do and become on what people around you expect you to be. There is plenty of sociological and psychiatric evidence support this argument. But it's just as interesting to do and become the opposite of what people around you expect you to be. It's the burden of NOT disappointing them of our failures and insecurities. I'm sure athletes feel this way when they're at the top of their game and there's no where left to go but down. I think this is where they either thrive on the pressure or crumble from that pressure. Trading display this same anxiety on how we either face our moment of truth. I'm not sure how these folks see you but if they had such high expectations, it's a hard to keep that level constantly. My strategy has always been to downplay any attempts of people building me up too high by shrugging it off or attributing it to luck, etc. This way, I won't take myself all the credit for any success (I see luck plays a big part in trading as well as in life, but preparation for luck makes a huge end results). I never promise more than I can deliver, just the minimum and anything above that is a positive surprise. I don't want to sound any way negative but as a positive constructive observation. Driving nice car and brand names will put you high in people's eyes, leading them to think and to expect you to be successful. Maybe in a way, this is pressure you yourself set up by seeing how you carry yourself and what you carry with you. It's a great feeling, don't get me wrong. But these subtleties carry certain pressure where people are watching you because you chose to stand out from the crowd. Just an observation.

There's two ways to look at this 1) the books are somewhat repetitive in content 2) you've read the book but you really haven't reread it to understand the subtleties of what the author really wanted to say that is different from other authors. I'll give you an example, one of my bibles is the Technical Analysis Of Stock Trends . It's a thick book and lots of content but each paragraph has tons of jewels that it takes many rereadings to really get a deeper message to really click in. After finding this out, I went back and reread other books and found the true significance in other great books. It's not about reading as many books as possible, it's about rereading them to get it all together.

I really like this one after the first reading. It's very complete, especially in basic technical analysis, such as Elliot Waves, Gann, and Patterns, among other traditional price pattern techniques. John Murphy-Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications

Welcome Jim and good luck with your new adventure! Plenty of reading here and hope you can contribute and question as you like.

I never had a problem with this indicator at all and been using for more than a year now. What version TS are you using? Do you have an image of it?

Brown, you're the greatest! Always thinking out of the box, can't go wrong with that! It's a tough choice. If you have need to trade support your expenses, it's a big order and lots of stress. You have to prove yourself you can do that first and be comfortable with it before taking the plunge. This stress will show up eventually in your trading at crunch time near end of the month. The outside factors will cause undue emotional stress and it may get to you. You can always continue to study the markets in the meantime. Record the market session and view them after work or on weekends. Using this technique and paper trade it. The other option is you can trade the first hour before heading off to work. Either way, good luck on a tough decision.

Excellent journal entry. One thing you might want to keep a list of is your mistakes for the day at the bottom or top. It's for quick peruse of how you did for the day. I.e. Mistakes today: #1 -- Didn't honor my target profit today #2 -- Took a signal that was NOT part of the plan I use this list to compare against previous days/weeks/months to see my progress on eliminating these mistakes. I think it was Longstreet who said "the team that win is the team that commit the least mistakes".

Unless you understand how trading the news work, I'd suggest you learn other strategies first before tackling this one. It's one of the easiest traps for newbies, very attractive indeed, but the losses and quick and deadly. The other thing I'm concerned what you just said "there is no limit to how many eminis I can trade per day". This sounds like you're planning to go at it to the max. Start at one and watch your overtrading problem. Eminis and overtrading don't mix because in a few weeks, your accounts may lose 1/2 the value and in 3 months, might be nothing. Leverage is high but so are losses.

Double-check to see that this line is not written twice: "errLine 23, errColumn 2, errLineEnd 23, errColumnEnd 2" And the end of each line should have a semicolon ";".

Getting back into the daily routine usually get you back on track. Doing a checklist before the market opens each day eventually get your mindset back.

I usually look at the tape near breakout areas with high volume of buys with large lots. When this happens, it's a sign of big participation in the push up. Likewise with breakdowns. The tape moves fast and furious compared to a few minutes before the breakout. I don't bother when prices are not at significant areas. You can do the same looking at charts. Just 2 ways of understanding the market.

cabbage patch kids anyone?

May we know what those qualities are? I agree with Brown, after a while, they start to taste stale. There bunches of wines and liquors to be tried and enjoyed. Life too short to stick to beers imo. Of course, I heard Belgium has over 200 brands of beer, I've only tried 30-40, so working on that to-do list too.:p

Sometimes I can't read the CBOT site's press releases too well with all the marketing mumble jumble that goes with it. I have to reference other sources just to get the fact straight. My name's mud.

There is a difference between stocks and eminis: there are no market makers or specialists in eminis. This might the reason eminis tape reading might be more reliable. Another thing is the emini is used as a vehicle for hedging so the motives are different then in stocks.

I guess this is a repetition from another thread but you have to give people the benefit of the doubt. He may sell something but until he commits that act, we shouldn't judge him. Indeed, if impersonate as someone else by another nickname, posting the same content, no one would say anything. We all judge too hastily. Wait for him to commit the act, then book him.

I have to agree with Tingull and Walterw on the fact that just because he's famous or has a service or product to sell, you cannot judge him on that but on the content he provides. Just like trading, trade what you see not what you think or assume. The content is what matters, if it's blatant promotion of their products or services, they deserve to be deleted. But if they post relevant content without promotion, I don't see anything wrong with that. Once they start doing that, then we take action. You can't judge a person on the things he hasn't committed yet. I know those of you already anticipate their actions but please don't act until it happens. I don't take a reversal until I get evidence or confirmation else I assume the trend is valid. Please likewise use this rule to judge others. Someone's guilty before proven innocent? As for the deletions, I have no idea what the posts were so I cannot comment on these. The purpose of the site is the maintain relevant information without overly commercial or negative overtones. There is a fine line. But take things at face value and if there is evidence anyone is spamming, then report it and we'll take action. Simple as that.

You guys should try an after meal drink called "crema de limoncello", lemon cream liquor, served ice cold. Excellent way to digest your meal. Italian specialty shop should have them.

A quick question: the VWAP constantly moves throughout the current trading day. I see you have the horizontal line, is this line the close of previous day?