james_gsx

I found this website full of cool backgrounds. I personally favor Porsches so I loved their collection. They also have a mind boggling amount of Aston Martin wallpapers as well. http://carwalls.com/cars/3-Porsche%20wallpapers.html?pag=75&t=4

Alright so we had a pretty strong move above resistance. I wouldn't swing trade this, I'd wait for a pullback to either the 8 or 21 EMA. I guess we could see a pullback to the breakout which I would most likely buy depending on the circumstances at the time. Thats definitely what you call a bull market

It's a beginners book and I don't think you should judge his trading skills off that book (I'm not sure if you are). But his ideas are simple, and thats what sells. Pivot and gap plays are prefect examples, they are simple to understand - how you trade them may not be. He could write out his exact strategy and you may never make a dime off of it. Does that make him a bad trader? Or does that mean you just can't trade his strategy like he can?

I know there are some reports that are released regularly for CL. What are they and when are they released?

John Carter swing trades, and he has a pretty fat portfolio. But by swing trading he's able to look at several markets including forex, so when the main indexes are out of whack he can just go trade the USD and Euro - or wheat, whatever. I'm not promoting his website, this is just what I've gathered from watching him. The real question comes in what size of an account do you need to do longer swing trades? Certainly a smaller $20,000 account and one bad day you're out. But the reward side of that can be huge. For example one contract of CL and you hold it for a few dollars and you've pretty much made your month. And a $2 in CL is not hard to accomplish with the latest bull trend. What about instead of the actual futures contracts themselves, what if you could swing trade the options?

Thanks Fulcrum, I will definitely take a look at that book. Your ideas sound very interesting, maybe you could post something in the psychological or trading doctor area? If you want/have time of course. Brownsfan, I am pretty sure I have ADD. Even at Nordstrom and when I worked at Best Buy when the day I got slow I would find myself talking to others and playing around on my phone. Best Buy was worse as I would wander into Magnolia and ask for demo's. At Nordstrom I just talk to all the girls and miss all the customers. I used the bedroom as an office once and it was GREAT for trading - for about two weeks. I worked way too much though at first, and never slept. Then the inevitable happened and I would wander off and do other things. I am trying to get my Series 7 now so I can trade for Bright. I don't need their leverage or platforms, I just want an office to trade in with other traders as I believe this will keep my competitive spirit high and help me focus purely on trading. One other thing, Brownsfan you said you eventually got down to a 2000 VBC with your trading. I found during all the volatility that a 1 minute time frame kept me focused because trades were happening left and right. I'm wondering if maybe I should try a shorter time frame (I'm using 5min now) to see if that helps me focus. I tend to like fast paced things compared to slow and relaxed.

I agree, I see much of the same just a "wide" trading range. I also think this is just psychological support around the 200SMA. No one is ready to see it move below that and stay under. But to be quite honest, even with a possible Fed rate cut I think the inevitable fall will come. Definitely a lot of indecision going on right now, but I believe it is pretty clear to see lately that the bears have control.

I agree Brownsfan, I am seeing pretty much the same thing. There are better markets to trade right now, but I will keep this to the ES discussion. I would like to see the ES hit the 50SMA before entering a short position on a swing trade. Better yet, a close above or below the trading range.

Sounds a lot like cognitive therapy, and what I got from the Trading in the Eye of the Storm webinar. I think you're referring to de-energizing negative thoughts that could tear you down? I'm thinking about moving all my trading equipment into an empty bedroom so I can have an office dedicated just to trading. My biggest problem is just getting bored and drifting away - not paying enough attention.

What exactly is the taylor buy day?

Does CL have options that you can swing trade with less risk? Kind of like ES futures options?

I did this last night, just a quick and simple analysis. I see a potential H&S pattern, and obviously support at $80. I know crude is very technical, but wouldn't $80 be a pyschological resistance level as well? And what's the tick value for CL and QM? Like YM = $5 and ES = $12.50

Yeah I do something like that. I just wanted to print out my real time stuff so I can review it and I didn't have time to mess around with changing backgrounds and stuff. I guess i could always print them in black and white...

Thanks NihabaAshi, that helps a lot. I am still learning how to see these in real time.

Britney Spears VMA performance FTMFW!!!! :crap::crap::crap: But I like this by Kanye West, it gets me motivated.

I see a potential H&S pattern that tested the neckline and failed. It's easier to see in the YM, but the more I stare at the chart the more it comes clear to me. We are definitely in a trading range and I wouldn't be too surprised to see the lower range fail. I also noticed that the 200 SMA proved to be resistance. That's my 2 cents

Nice analysis, it almost makes me want to go trade CL. I view the first attempt definitelly as a bull trap. The second one looks more like a pullback after a massive rally. It traded back to the trendline and is now moving higher. Should be interesting to see what type of candle is produced after this week, I wish I followed crude more so I could add my own analysis.

Hopefully this will make more sense. Went short at 12:42 MT at 1452.75 I saw a potential top on the 5 minute chart, the second red candle you see was where I went short as I viewed it as confirmation. Shortly after the tape slowed, and price went higher where I eventually got out at 1454.00 for a 1.25 ES loss.

Thats what I was referring to Brownsfan, thanks. I'll look into it more when I get home, I couldn't figure it out earlier.

Maybe I didn't clarify it probably, sorry. When I get home I'll annotate it some more to make it easier to read and I'll list where I went short and all of that. I never let a winning trade go bad though. I let a winning day go bad.

Yeah, it would make sense if we weren't looking right at Tony when the screen went blank. You're right about Entourage, but like I said before it's good to watch for pure entertainment.

We need a new Sopranos thread, because he never got whacked.

Trade Station.

Darth, of course your logic is skewed you believe Tony Soprano got whacked! :o

I think I figured it out, I saw the top but forgot that a reversal doesn't always mean a trend will reverse. We were at the S1 midpoint where we typically see consolidation - I should have waited for a break away from that point. Also on the 15min chart I was going against the major trend, and didn't have enough confirmation of the spinning top. Note that at the time of the trade, that big wick on the current candle wasn't there.