AbeSmith

Thanks Illuminati.

Yes. Low risk is important, but not necessary. A good stock pic would also be considered.

Hmmm. Well, that might be fun for some people.

Good idea. A bit Gold might not be a bad idea either. It has been dropping recently, and it is more beautiful than silver in my opinion.

Here are the charts:

Very interesting topic. I have also been watching the daily charts and regret that I didn't go long in stocks at the low this month which were also around the August lows. But in my view the battle isn't over yet. Correct me if I'm wrong, but doesn't the 200SMA play a vital role here as well? Seems to me it is a significant S/R point and indicator of the status of a market. In the first chart you can see the regular dow as it is hovering above the 200 SMA S/R point for 2 days now, and closed above it for 3 days, which I see as a good sign. Am I right? It shows that the market has some will to stick it out. In the second chart is the YM chart, where the 200SMA appears to be a more significant and accurate S/R point. Here it has not cleared the 200SMA yet. So one thing I'm looking for to go long is a breakout from the 200 SMA. And also what the fed is going to do. This article says that they may have hinted of a rate cut: http://www.chicagotribune.com/business/chi-sat_wall_1201dec01,1,1221075.story

...what a great site this is. Reading through a topic from another forum I remembered how nice Trader's Laboratory is about not allowing people to be rude to others. If you are new to the site you will find this out very quickly. That is one of my favorite things about this site because I can concentrate on studying the topic at hand and not get distracted by immature things.

Thanks Anna Maria. I'm glad I didn't take this trade because the Dollar spiked up overnight.

Here is the chart I forgot to post: Also would be interested to hear your opinions about USDJPY and the fundamentals and technicals behind it. Thanks.

Hello. I've been looking at this USDJPY trade and it seemed to me the 8EMA would be a good place to go short, which is also around the last lower low. But I'm new to Forex so I didn't know how to play it. So I think I have to let this trade go. But just wondering for the future how much leverage I should get and where to place my stop, and to do this I need to know how much each pip is worth, which I'm having trouble figuring out. So let's say I go short at 108.585. Would one pip higher be 108.586? If so, how do I calculate how much that pip is worth? And thus be able to figure out if I'm risking no more than 1K, how much leverage is too much, causing too tight of a stop, and also to know where to place my stop so it doesn't risk more than 1K. Thanks.

Ok. Thanks for the info Anna Maria.

What if you're trading only 1 YM contract and the CBOT goes down? How are you supposed to heldge that? Thanks.

So Interactive Brokers and EFX won't try to rip me off? What about Forex.com? Could you talk about some of the pitfalls? Thanks.

Brownsfan, you are a very intuitive guy. I admit that I did consider moving away from futues due to lots of loss. But now I'm trying futures again with minimum leverage and following my rules this time. But Forex is not a runaway move from futures. The leverage is good and it is another market which I want to watch. So right now I'm watching YM, some stocks, and starting to follow currencies as well. Also starting to watch mini Gold. Anyways, thanks for the heads up.

Thanks Art for the very informative post.

Here is a free text to speech creator where you can type in the text you want and save it as a .wav. So if you want to crate a custom alert sound in TradeStation for example you can use this. And best of all it is all done online so you don't have to install any program. http://www.research.att.com/~ttsweb/tts/demo.php

Thanks Sleepy.

Thanks Raj. I hear that often, but what is the reason for that? Is low volume mean that it is more choppy? Does it mean that the price moves are not as sustainable? Anyways, on the YM on Friday there were some good pivot plays.

Nice call Torero.

Awesome. Thanks Torero.

Hello. I'm interested in Forex market. I've never done it before but I like the high leverage that it gives. So I've been looking at EURUSD on the daily chart and it is looking like it is going up. So I'm thinking of buying on a dip and holding it for several days or more. But I see the big 1.50000 not too far away. Seems to me it might be a major resistance, but again I don't know much about Forex and don't know how much impact a simple number can have in forex. Just wondering if anyone has any advice on this trade. I'm interested in investing $1000 with as much leverage as possible without risking getting stopped out on volitility. Can it be done safely? Or should I look into something else in Forex? Perhaps the USDJPY? What things should I watch out for? Only thing I know about Forex is that interest rates play an important role. If interest rate of a country goes up, then people are likely to move their money out of that currency and into a higher rate currency. Seems to me the Fed is not going to cut interest rates anymore, because it is hurting the dollar. Does that sound right? Again, excuse my ignorance if I'm not making any sense. Just wondering how I can enter the Forex market for swing trading. Or is day trading Forex a better option? What are the major S/R points in Forex? Do Pivots play an important role?

Really I don't know much about BIDU. But I know there was alot of interest about it. Technically I see a head and shoulders which I have drawn out in the attached pic. I also see a support around 300. But fundamentally I don't know much about it. Just wondering if anyone has any input about this stock. Seems to me looking at the chart, the bearish sign is the head and shoulders. But the bullishness is the risk to reward ration I see due to the strong support at 300. What if you put a stop 25 points or less below that. Then if it the 300 support breaks down you lose 25 but it it goes up you gain 50, it seems. But I know little about the company so this is not a stock I would trade. Just wondering what others think about it and if they have some insight.

Why do you think so? Is it the resistance around 675? Any stock or instrument you would be long in right now? I've been long GOOG since 629. I've moved my stop up to break even.

This GOOG is looking great. I like the way it approached the resistance around 675. They say it might hit 900. What do you guys think? Does GOOG have a long way to go, lik Microsoft did. If so, how high do you think it will go. It was very resiliant this week despite weak performance in the market.

Well, this GME just went nowhere.