Soultrader

With futures you need a fast execution system. The Infinity AT platform is extremely fast. Brownsfan mentioned T4 which is impressive as well. There are alot of futures brokers out there but only a few have tools for serious trading. Make sure you try the demos whenever available and feel comfortable with what you are using. Alot traders use the Tradestation matrix as well but I personally find it a little slow when it comes down to execution.

hahaha. Yea... TA is no rocket science. What I did find fascinating was to really understand the psychology behind price behavior. Would it be totally off track to say that price action is trader psychology? Or did I just pull another mistake there...

Yes I admit I am wrong on this one. At the point of starting this thread, I was in a debate with a fellow trader on price patterns. My argument was that one can not be successful just relying on chart patterns. I know a few other traders who will agrue the same and state "Take a look at chart pattern traders and their P&L. It will show how unsucessful it is." HOWEVER, as many of you here has argued... traders use whatever works for them and it is absolutely wrong to say something does not work. Alot of you here made extremely valid points and I will take my agruement back. I can not possibly go on to state this if I rely on pivots in my trading. :p

Hello Manfred, Welcome aboard With weekly pivots, you should use the high/low/close from the Monday to Friday session. In other words, it does not make a difference if there was 3 or 4 trading days. You will simply use those 3,4 days to grab the high/low/close. For the emini's which are traded almost 24 hour electronically, you will still use the exchange times. The easiest way is to grab the values directly from the price bar on the daily charts. Hope this helps.

Yep I know.... I thought I burried this thread. lol Okay how about measured moves for exit targets? Does this make any sense to traders? Magic?

Yep.. 1500 contracts per bar.

hahaha.. I like that notouch. Good one

To me thats simply support and resistance. Or take a look at a head and shoulders... to me its just simply a lower high (right shoulder). When I look at price.. it never really occurred to me to spot a pattern and be like "Hey, looks like there is a ascending triangle. Why not play the breakout?" Instead.. its just "Okay, there is resistance above. Perhaps wait to see if there is price acceptance on the breakout."

.... I totally regret starting this thread What I really meant was price patterns. I actually had this debate in a few other places and I came to a conclusion not to bring it up. Yes all of you are right. MP, Pivots, etc... are all TA. I should of clearly stated price patterns ONLY which I think are total crap but once again some traders make money off it so they must work for a few traders.

Thanks for pointing this out Trader273. I agree 100% and this board is all about trading education. Pippy, you are more than welcome to post your trades on the forums. I hope this does not prevent you from posting further trades. However, in order to make things educational from a trading perspective please add some input on your trade or perhaps you can commentate on a chart of your trade. Anything that can help the trading community is definitely appreciated and will receive feedback as well.

Sounds good brownsfan. I will have that ready asap.

Yea... firefox is definitely a better browser. IE7 is worse than IE6. Ive done some serious changes to the system trying to lighten the server load. Removed some stuff on the forums as well. I will keep doing small changes to lighten the server load. Videos are no longer a problem as they are hosted on a seperate server now.

No problem. I have created a sub forum under derivatives.

I usually take the second. If I get a third test, I will take that also. The second test would most likely be a partial profit trade... cutting half loose and scratching the other half. I have no problems re-entering trades right away. I am usually in and out and often reverse if I think Im wrong.

Hi Knyyt, What internet connection are you using? I use a fiber optic connection and experiencing no delay. Maybe I can get some input from other members as well. I will try to look into it.

Thanks Tin! Might need some help on the glossary. Will let you know.

Anyone still experiencing slow loading time? All videos are now on a seperate folder. I have been experiencing no lag lately... but curious to know others experiences. Thanks

Here's a good one by google: Welcome to Google TiSP And there FAQ page: Frequently Asked Questions These guys are too laid back.

hehe 5,000 is a good number. But I like 10,000 even better I may do some kind of giveaway contest after we hit the 5,000 mark. Or better yet, the 1 year anniversary since launch. I will do whatever I can to maintain the quality here. That is my #1 focus of this site... I care less about the fancy layouts, cool features, etc... Content is KING. We have definitely attracted a very nice group of traders. I truly appreciate everyones contribution here. I also removed the premium members forum for now until we get a little bigger. Seems it may have been to early to launch it. brownsfan, I will definitely get on top of the glossary. It may take a little time but will get to work on it.

Very interesting indeed. I will be watching this daily as well. Thanks for sharing T.

Well thats the tricky part. Discretionary traders may not have rules for each trade they take. Alot of discretionary trading is based on "gut" feel just like a poker player will be able to read the opponents hand through player psychology and probabilities. Do not mistaken this with impulsive trading. Discretionary trading involves good judgement and intuition. As TheBramble pointed out "Most would not even know what they are doing on a conscious level." This is why discretionary trading can not be automated 100%. Ive pointed this Linda Raschke quote before somewhere else: "I've known hundreds of professional traders throughout my career. I don't want to disappoint you, but I know of only two who were able to make a steady living for themselves with a mechanical system.â€Â

Thank you for the great explanation PivotProfiler. Taking a look at the chart, is it possible for VSA to detect whether we will have a V bottom or a W (second test) or even a third test of the low? While W and third tests offer excellent risk:reward, I personally have trouble taking a trade on V reversals. Which is why I usually wait until price breaks a pivot point for any longs. Any input would be appreciated. Thank you.

I highly disagree and have to say it is impossible to code such a thing. Tape reading is not all about watching for big lots come across the tape. That is just the basics of it. I would love to elaborate on tape reading but I find it extremely difficult to explain in words. If everything can be automated... why is it that the majority of successful intraday traders are discretionary traders?

Here is statement from the SEC located here: Day Trading "Under the rules of NYSE and NASD, customers who are deemed "pattern day traders" must have at least $25,000 in their accounts and can only trade in margin accounts." Once you have the $25,000 account setup you are able to trade multiple times a day without a limit. I believe for some brokerage firms that minimum is $35,000.

Interesting notouch. I personally found the index futures a better swing trading opportunity rather than day trading it until we hit that 61.8% retracement since the decline. At this point I am neither bullish or bearish. I feel like the markets have a chance to test the double bottom and then rally. If not we will need to break past the key 61.8% fib resistance (I believe it was around 12580 - 12600) for any further rally to the upside. Just my 2cents