brownsfan019

10-10-09: -$5.00 Yep, down 5 bucks today. And shoudla been positive. Not the best performance today on my end.

It's actually left click limit and right click stop on my end. Not sure if you are able to reverse those or not. If you send a buy limit ABOVE current price, you will be instantly filled at that price OR better. That's what a limit order is - fill me at this price or better. Test it out on the demo and you'll see what I mean. You send a buy limit above the current price and you'll basically be buying the current price, possibly with slippage. That's all. You can use this when you think sending a market order will get you a very poor fill - so you send a limit to the exchange saying - fill me here OR better and I'll be happy. To get a fill that says - only fill me if this price is hit - then you use a buy or sell stop order. You can use a stop market order or stop limit order from there.

Dinero - nice charts and nice trade on the one you are in. I think you'll find just doing some chart analysis, even on daily stock charts, will help your futures trading. You might also find that it's easier on stocks and go that direction. You never know where trading will take you. I went from stocks to options to futures.

Not sure this will answer your question 100%, but I only enter on buy stops and sell stops. I want price to be moving in my direction, not against it.

Some people only want the quick and easy way to becoming wealthy... even to the point of belittling those they are asking for help. The vast majority here get what this thread is for - and that means different things to different people. I post here to motivate myself to become a better trader. I know how to do this (most days) and since we as retail traders live a sheltered work life, I use this thread to help my motivation and accountability. That fact alone escapes a few that visit our thread (see mini mouse and now risk). Others visit this thread to see where trading can in fact take you and that it is possible to make money trading. It's hard and a struggle but it can be done and I take you along my ride each day. While posting the results are good, I try to make daily comments to share what battles I go through every day on my way to trying to make money that day. Whether you are new to the thread or following most days, there are some great treasures throughout this thread IMO. Yes, it's true - my setups laid out in an ABC pattern are NOT posted here (or anywhere). That's my business and if you can't respect that, then there's a very convenient ignore function on this forum. I suggest you use it. For those that are willing to read and follow along, you just might find some things that are even better than a trading setup. And if you are too narrow minded to see that, then as I said, Thales' thread literally lays out a method step-by-step-by-step.

Attached is an ES 1 min chart. I went long a few times in the afternoon. That, along with your other questions, has been answered previously in this thread. Feel free to spend some time reading through the thread as I don't care to rehash everything when there is a new person to the thread to lazy to read through the thread. You can start with this post. Ironically enough, your answer to this question is right there.

I hope you sent a support ticket in when this occurred. If you didn't, get in the habit of doing this. They work for you and need to know when their stuff isn't working as it should. The more that do this when there are issues, the quicker it grabs the attention of people over there.

If you could guarantee me a win, I would post. But since we play the Steelers on Thurs and I'm sure they are pissed about losing to Oakland, I'm not going to hold my breath. And to be honest, I can't just post 1 chart and be done with it. It won't even make any sense unless I then go into detail how I piece it all together. As I've said, finding reliable S/R is the name of the game and that in itself cannot be explained in 1 chart. While I don't care to divulge my strategies that have taken years and thousands of dollars to design, it also can't be done in 1 easy to read chart. And for that, I have no desire to become a free trading instructor. The only way I would open this up is to go to the dark side and get paid to do it. But that's nowhere on the horizon, so don't be looking for it. As I told Risk, he'll get a lot more following your thread than this one. If he wants to see a trading system work, it's 1 click away.

12-9-09: +$1720 I thought the day was done and then the ES gave some easy longs there so that got me positive again. If the ES can give me reliable setups like this, then I might have to do a little more there than I previously said. I guess that's why it's useful to watch a handful of markets even if you are not trading them so you can see opportunities when they arise. In the last week or so I've also been working to refine my entries a bit so that is helping so far as well. As I've said many times, I can't time exits for the life of me so I directed some energy into seeing if I could time my entries better and so far it appears to be working. If I can get into moves sooner, I can lower my risk and increase my reward so we'll see.

I have charts posted all over this place, incl this thread. From there, you have to dig around. Or visit Thales' thread as I suggested.

Wait a minute... are you saying that a vendor selling magical indicators is doing so b/c they are worthless and the only real value is in selling them? Shocking.

It would be interesting to run the CL to compare to the Euro to see if there's a better market among the two.

How does this look on the CL oil contract? Just curious.

12-8-09: +$1539.99 Got chopped early but recovered later on oil. As Dinero pointed out here, could be sitting on a strong support level and the market took a breather today.

If there's a guest speaker that you really want to hear speak, then it's probably worth it. Otherwise it's sales pitch after sales pitch after sales pitch. Imagine a bunch of sharks congregated in one area that try to sniff out those looking for easy riches and then promise them the world. I went to the NY expo a few years ago and would not attend again unless there was a speaker I really wanted to hear.

Now that I reread what you wrote, you do know what I do. You wrote it out verbatim.

LOD low of day HOD high of day RTH regular trading hours PDC previous day close PDO previous day open PDL previous day low PDH previous day high there's a few.

As a side note, you asked about trying to figure out when price might move more on a day - today is a good example where your predefined support level is giving the market an area to take a breather and regroup. Will it last all day? No idea. Will it carry over till tomorrow? No idea. But perhaps something there for you to consider. I guess the key would be knowing when to trade it (ie the move is coming) and when to just watch (ie price is stalling like today).

I think it's your support level there. Seems to be holding up traffic. As soon as this bottleneck breaks then we'll see some action but it appears to be at a significant level as you've illustrated.

Dinero - interesting chart there. Could explain why I'm getting chopped up on the CL today... price is trying to figure out where to go and tossing me around with it.

LF - I have a 1 contract dummy account linked to my block accounts for purposes here. As I stated in the beginning, I am showing a smaller account progression. I do not show the entire block p/l for personal reasons. Whatever I show is just magnified (good or bad) with the block being traded. As a side note, OEC's block function is very nice. When I was trading blocks with T4 I literally had to send an email at the end of the day with allocations. Then I had to hope their back office did what I wanted manually. With OEC, it's just done and I don't have to do anything else with it. So very nice.

I don't have my exact setups outlined verbatim here or any forum for that matter. If you want to hunt around, you'll find stuff. If you want an A B C guide, you won't find it. For that, head to Thales' thread. He's much more generous than I.

I have a number of things posted in the candlestick corner which you can find here.

I suggest you find page 1 of this thread and then start reading. Then you'll see how to easily avoid that mess.

I wanted to give a little bump to this thread to point out why the oil market should be on your list of markets to consider trading. If you've followed me in the p/l thread at all, you've seen my profitability jump quite a bit lately and it's all b/c of this market. Here's a sampling of some of the moves on Monday, Dec 7th. From extreme-to-extreme, there's about 323 ticks x $10 = $3230. Will you nail every high and low? Of course not. But what is important IMO is to trade markets where the high-to-low range offers you opportunities inside of that to make money. If you trade a market that is moving and providing 323 ticks worth of movements, you only need to capture a % of that to have a good day trading. When a market is providing such nice ranges to trade from, you don't have to time your entry or exit perfectly to make money. If you find yourself staring at a market wondering if there's something better out there, take a look at oil and see what you think.