brownsfan019

Developing trading styles based on any big report/econ news can be a worthwhile task if you can find some consistency to trade from as Tams said. For example, every Wed the oil inventory comes out. I have no doubt in my mind that if you could develop a strategy that can load up before inventory comes out and be right on the outcome, you could work 1 day a week for maybe 30 minutes and be very wealthy. Alas, that grail avoids me... So I'm stuck trading each day. But you might find something that is very tradable, regardless of the report being used as long as it's an important one (Non-farm, inventories, etc. etc.).

You guys work way too long in here. Let's just convert this to a CL only trading thread and then we can all be done no later than 230pm EST and enjoy the fruits of our labors. I'm kidding about changing to a CL only thread. But not kidding about you guys working too much.

I couldn't believe the Vikes lost that game - I don't think the Saints won but the Vikes lost.

Took you long enough to see the light. Just send 20% of profits to my paypal and we will call it even.

Browns - I think we are on the right track. We took a few guys from Thales' Philly head office and hopefully Holmgren has 1 more run in the tank. We'll see. OSU - Solid as always. Consistently a top ranked team. I guess I choose poorly when I picked the brownsfan name over osufan... damn it. :doh: As for pittsburgh - Next year will be an interesting year IMO. Another year like this and will the support for Tomlin remain? I bet Tomlin is watching Troy P's rehab like no other. As for philly - who will be the QB? The ever-reliable, but can't win the big game McNabb? Or the kid waiting to play, but no idea what you got Kolb?

Defense, Cribbs stop Steelers' streak The final: Browns 13, Steelers 6.

Then you can show yourself the door there smarty. Back to the slums of pittsburgh you can go. I do like the JoePa avator though - they did well against OSU this year. Silver Bullets Shut Down Penn State in 24-7 Victory

Why would you want to move to forex if your futures trading is making money? Is there not enough leverage?

I understand the idea behind this, but would be interested to see the full instruction on how to do it.

How do you define when to take reversals vs. trend trades?

If you guys ask James, I'll be happy to mod this area and come in to clean up this trash when needed. Just have to get James' attention to the matter. I currently can only mod threads that are in the traders log sub-forum.

I pop into this thread now and again as some of you know. I'd like to comment to the negative trolls that love to show up every so often around here: If you don't like this method, Thales, any other poster(s) or any combination of those, then SIMPLY DO NOT VISIT THIS THREAD. All I know is that Thales has developed one of (if not the most) visited thread here on TL, spends hours upon hours providing guidance and he does it for FREE. I can only guess how many people he has helped.

Here's an example of how trailing a stop can look on the CL: I had mentioned in the p/l thread that if you decide to trail stops on the CL, you better give them some room to work and here's why. It would be easy in hindsight to see a winning long that got you 40+ ticks but in reality, had you trailed just about anywhere, you would have made little or even LOST on this trade. Looks can be deceiving, esp after the fact in trading. Don't let your eyes fool you.

I guess it's all in how you view things, but I trade oil straight through till 230pm EST. For my trading, I don't see a 'lunch' often in oil.

And only 11 trades?!

1-29-10: +$820 Good day on oil. Cut it a trade short, but it's Friday!

Yep, this little bugger moves. Anyone thinking of trading this should watch live, real-time charts first.

How much were the wins? How much were the stops on the trades?

DD brings up a good point - in the end, the one person that will work hardest for you and your money is you. So while it's nice to have a professional do the taxes and review them, you should have a pretty good idea what they are doing and how.

Wonder how long it will take to recoup the current drawdown? Not sure how many would keep trading something that is down over $18k in 1 year. LINK

JB - 2 places to look: 1) Online - a few 'specialize' in traders 2) Local - try to find someone that has done this before #2 will be harder to find, but if you like being able to go visit the person, could be worthwhile to look. If face-to-face is irrelevant, then I would interview some of the online specialized guys and see what you think. I'd be curious to hear your thoughts.

1-28-10: +$1180 Oil once again. One note to those trading oil or thinking of it - this thing retraces like no other at times. If you try a trail stop, it needs a cushion b/c the volatility on the CL at times just wipes out weak longs/shorts over and over. I'll see if I can get a picture up later explaining this.

I agree 100%. You can't just sit on your butt assuming what you are doing now will always work in the future. And adjusting/adapting can sometimes just be minor things too - we are not always talking huge things. Recently I noticed that my profits on the CL just far outpaced the other markets, so focus was directed there. I could still trade my basket of 6+ markets if I wanted, but the CL is where it's at right now. 6 months from now it might be back to the ZB or RLM for all I know. If nothing else, it's useful to see how your trading holds up on other markets, even if not trading with real money.

That's a great point Dinero. One school of thought says take a certain profit when it's there and then quit. A 2nd school is what you said - keep going while it's there. I'd like to think I'm a hybrid of the 2 - I will pretty much keep going unless I feel like it's just a struggle that day and/or it's getting near the close. But in order to get some of the bigger days that I have lately, I gotta keep going. If I stopped after a winner or two, I'd cut some winning days very short.

Cory - nice job on working on your rules and getting your house in order. I will offer 1 piece of advice - working 6am-11pm is insane. Even planning to work that much is a recipe for disaster. Why? B/c trading is such a mental game and struggle that to endure for that long every day IMO is beyond practical for most humans, esp someone that is new and just trying to learn a method. If this was on autopilot and being run by software, that's a different story. It's admirable that you want to work a lot of hours and I'm sure you've been taught that in order to be successful you must in turn work a tremendous amount of hours. But what you have proposed here will lead to 1 thing - you burning out on a regular basis; which in turn will probably cost you money. I currently work from about 9am-230pm EST and by 230pm, my brain feels like it's been worked over and that I just went through a 12 round fight. I know the goal looks great on paper and sitting here on a Thurs it looks very doable but I think you are setting yourself up for tremendous disappointment.