kuokam

We just touched a great low last week. My plan is to scalp a couple ticks along the way, with a bullish bias into this week.

Now, back to business When trading an index, say the s&p, you can watch the dow as an indicator. same for the T note and Bond. What do you watch besides gold futures for clues?

I think he's saying that e-mini is not traded in a pit like the main index. Could be that e stands for electronic. Just guessing

Please keep us informed on that news letter. Do you use the Almanac?

Maybe the decline is over. We are at previous weekly lows. Shall be clearer by next week.

Haven is a place on earth. Belinda Carlisle [ame=http://www.youtube.com/watch?v=ngmakCXGe7M]Belinda Carlisle - Heaven Is A Place On Earth (Live '87) - YouTube[/ame]

Futures = Indices ? How about gold , T bond , sugar, gas or corrency futures?

Mein Gott! The boss is back!

"If you can't think and act like a tiger, then you are yhe lamb. Lambs get slaughtered"

IMHO, price action apply to both charts and order flow. Just in different ways: in candles/bars (charts) and in figures (order flow)

None of the rules prescribes a Risk to Reward ratio. On the contrary, letting profits run presupposes the trend will keep going, and so will the "reward".

Bravo Onemove, for the the fast learning and discipline in application. OT, thanks a lot for another great contribution. I am so happy I came to know you and project here. My performance lately has not been optimal for two reasons: 1- I tried to pick tops and got punished, because I followed a COT reader telling me for weeks that the yen was way oversold and ready to reverse. There I learned what it is to follow too many indicators at the same time: 2- I lacked the courage to take two trades that went in my projected direction in leaps. So, as of late, I've been only applying the "cut your losses short" and "manage your risk" rules. For my bottom line for the 4 months contest, I started out with 100700. Now I have 150800 in the account. Very satisfied with a result I never achieved and managed to keep in my 6+ years trading live or sim. But I know the learning never ends, as a saying here goes "who is not advancing is retreating". Now, for a couple of weeks I am taking a break from the contest. My project at hand is that of learning the to read and trade over the DOM. I have been told the pros' trade but that way and wanted to check out what I am missing. Any opinion on the subject is welcomed, be it by pm . See you next time. Thanks again to Mystic, OT, Ingot and all the contributors.

Don't they train into pros in 4 months in props?

It was but a break out system. It still works. Out of that you only have trend following and top/bottom picking.

I am not yet consistently profitable, so can't tell what I would do. One thing for sure is that there are many valuable systems in the public domain,starting with that of the famous Turtles. But as stated before on this thread, no system is permanently successful, let alone rigourously implemented per the rules of its creator. You will always have emotions and personal biases in the way.

"Even people who claim everything is predestined, and that we can do nothing to change it, look before they cross the road" Stephen Hawkin

Looks like there is one exception to this rule ...

Sorry to hear that, Mystic. Please greet her. KK

Let's assume one has a plan that he tries to follow . But when you are in a trade that yield 4 or 5 times what you hoped at the start, you start to feel some sort of incomfort that can make you trail your stop too close. You then exit the trade and feel some release, but in the coming hours/days the trade resumes even more fiercely in your direction, without you. It might also help to be able to distinguish between a change in direction and a mere retracement.

Exactly! That is my main problem too. I recently took a FX trade that quickly proved profitable, and I exited, believing the pair was due for a turn around. It never happened, and I lost around 1.000 pips. I think this is what Livermore meant by "people who can both be right and sit tight are uncommon".

This is the confirmation that OT has hit the DD threshold and is eliminated. Too sad. But just reminds me 2 things: -Even the wizards never stop learning in this business; -This trading thing is a very jealous lover that will tolerate not sharing of focus between her and any other occupation. But everybody saw what you can achieve, OT. No doubt you will do it again in the contests to come.

May we get all those pips in the new year 2013 !

Hello, We are taught that there are 4 cardinal rules that should be observed at all times, if one wants to succeed at trading. None of the rules is certainly easy to follow, but actually, there is one that I so far failed to abide by, despite all efforts. From my own knowledge, here are the 4 rules: 1 - Follow the trend 2 - Cut your losses short 3 - Let your profits run 4 - Manage your risk I am sure every body has his most difficult one. Please share your experience. Best wishes and a profitable 2013 to all TL'ers !

The last time I tried to have a pdf over the net, this ukash-police-scam virus seized my computer and I had to call the police station before hearing that they were not the authors. I then proceeded to get rid of the malware . So, Amazon or Ebay for now. As for the age of the book, you may be right but, the Roso date from that period as well, but are still featured among the best trading books. I would be interested in knowing how swing and position traders fare with the ideas in this book? Tape reading looks so short termish to me but I agree I don't know much yet.