tag:blogger.com,1999:blog-39668811602519223822012-02-14T21:25:58.977-06:00Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.comBlogger7371100tag:blogger.com,1999:blog-3966881160251922382.post-57915404948097800362011-04-27T20:26:00.003-05:002011-04-27T20:44:26.349-05:00

I've had a hard go of it over the last 2 years. I changed my trading style from stock screening and longer term swing trading, to day trading futures. I went from working with my wife in a high paying job, to trading for an income for the entire family. My trading account went from a tidy and comfortable amount of money to about the amount that I started trading 7 years ago. My ego deflated.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com6tag:blogger.com,1999:blog-3966881160251922382.post-19212696507986425222011-01-14T06:41:00.002-06:002011-01-14T07:08:34.291-06:00

I've been away for a while. OK, I actually haven't been "away". I still live in Omaha, Nebraska. I still have access to the internet. I still trade.But I've been on a bit of a journey over the last year. I hope to detail that journey here over the next couple of months with the intent of encouraging others out there who may be experiencing some of the same things that I experienced when I decided

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com3tag:blogger.com,1999:blog-3966881160251922382.post-90118635777463899852010-06-11T11:12:00.000-05:002010-06-11T11:13:04.622-05:00

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com3tag:blogger.com,1999:blog-3966881160251922382.post-78824213977823248442010-05-06T14:49:00.000-05:002010-05-06T14:53:20.231-05:00

That was the craziest market session that I've ever experienced. I traded earlier in the session and was about to short, but decided to wait for some more confirmation. The market then fell off a cliff. I calculated that if I had taken that short (and executed everything perfectly), I could have made a year's worth of income in a couple of minutes.I'm actually kind of glad I wasn't part of the

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-41437837880859034432010-04-16T08:46:00.004-05:002010-04-16T08:55:50.692-05:00

My long gap fade this morning failed miserably. After I stopped out, I noticed some areas of resistance around the highs yesterday. Interesting. Maybe this rally is done. Who knows, but Adam Hewison has an interesting video about where we sit right now in the market. Here's what he Adam says:"We owe trillions of dollars, but Crude oil is at $86 a barrel, the DOW, S&P, and NASDAQ are making

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-18614352672298267902010-03-09T08:15:00.003-06:002010-03-09T08:24:14.275-06:00

Adam Hewison has posted an interesting video on where he thinks the market is headed based on his study of the technical charts. He writes:"To many technicians, it is very clear where the equity markets will reverse, and for those folks who don't follow the technicals, this is a key reversal area in the S&P 500, the NASDAQ, and the Dow.""Currently the major trend remains positive for all the

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-77037446447394703922010-02-22T14:29:00.005-06:002010-02-22T14:39:52.652-06:00

I wanted to point out the power that Fibonacci grids exert on the market by drawing a grid from Friday's lows and highs.Fibonacci grids are not magic and they don't have some sort of hidden "power" over prices because of some mysterious use of number sequences. They work because patterns in the market continually repeat themselves over and over again. And they work because there are a lot of

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-87804940025710021072010-01-27T08:20:00.005-06:002010-01-27T09:22:51.706-06:00

Yesterday's action on SPY gave us some really good examples of how you can spend a few seconds drawing Fibonacci grids to give you an edge in figuring out where to enter a trade, where to place a stop, and where to exit your trade. There are entire books written about entries, exits and stop placement and most traders really struggle with all three causing psychological mistakes that diminish

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com3tag:blogger.com,1999:blog-3966881160251922382.post-45724511899015404622010-01-21T10:31:00.004-06:002010-01-21T12:09:45.738-06:00

I was too wimpy to take a trade this morning that had really good odds of succeeding. $113.00 has been serving as support for SPY for the last couple of weeks, and I knew a break beneath it would result in a lot of people who are long the market getting stopped out.But I still struggled taking the trade. I should have had an order already in and I was preparing to create one when price broke

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-52454229895884504512010-01-21T08:22:00.000-06:002010-01-21T08:25:09.994-06:00

Cause and Effect: Thinking Differently for Traders and Investors by D.R. Barton, Jr. When I was

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-12744886244507590202009-12-09T11:59:00.002-06:002009-12-09T12:01:53.769-06:00

That's three feet of snow outside my trading desk window.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com3tag:blogger.com,1999:blog-3966881160251922382.post-20590670550991850332009-11-23T12:04:00.004-06:002009-11-23T12:11:14.317-06:00

It looked like we were going to get a powerful trend day after the "gap and go" this morning. I stopped out of a trend day trade in the late morning hours as price consolidated and then dropped through the support of the 20 EMA and the lower Bollinger Band. Losing comes with the territory (but it always sucks).At the moment (1pm EST), it looks like we have formed a narrow trading range that

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-11368973512276761422009-11-19T11:32:00.004-06:002009-11-19T11:50:53.048-06:00

I think a lot of people (including me) were anticipating a powerful trend day today. We had a big gap that refused to fill even a little bit. A big downward impulse followed with new TICK lows.A slight pullback occurred and then another downward thrust with a fresh new TICK low. Advancers outnumbered decliners by 2,300 at that point. All signs pointed to a trend day.But price started oozing

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-35140825925650943382009-11-02T14:24:00.004-06:002009-11-02T14:31:41.184-06:00

Here are a couple of recent comments about Zacks's Research Wizard that are in response to my post a few weeks ago.I'm guessing this is the same "Anonymous" who offered to post his return on a weekly basis:During the past six weeks, one of my better strategies in RW selecting 8 stocks per week ran -9.5%, Fridays to Fridays, -14.5% of which was during the past three weeks. YTD, during the past 44

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com14tag:blogger.com,1999:blog-3966881160251922382.post-1461217158065309732009-10-16T10:31:00.002-05:002009-10-16T10:37:01.215-05:00

The website Verticle Solutions provides a real time gauge with a proprietary alogorythm that determines whether the current day's structure indicates we are trending or in a range bound environment. I look at it a couple of times a day as another way of monitoring market activity. It's an interesting tool and I like anything that has colors and arrows. I do like my gauges.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-60670828493564503922009-10-16T09:46:00.002-05:002009-10-16T09:47:12.497-05:00

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-81482260633953190852009-10-14T11:10:00.007-05:002009-10-14T11:26:51.152-05:00

Today started with a gap of over 1% and good earnings news from Intel which are often catalysts for the formation of a trend day. Trend days can make your week or even your month if played correctly so it is important to be able to identify one early in the day so that you can take advantage of the easy pickings during the rest of the day.If you just focused on price alone, you really have no

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-60388528190071950492009-10-14T10:47:00.005-05:002009-10-14T11:06:16.500-05:00

I haven't used Zack's Research Wizard for over two years and I haven't written about it in at least that long, but I consistently receive comments and questions about the product. Curiously, a Google search of Zack's Research Wizard lists StockPunk as second in rank under Zack's own website!There are a many great discussions about the product on a couple of my posts. The best debate has

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com4tag:blogger.com,1999:blog-3966881160251922382.post-40946075669033791232009-10-13T09:01:00.009-05:002009-10-13T09:42:46.881-05:00

The day opened with a .30 gap in SPY which according to backtesting research has a pretty good chance of filling. Usually I'll attempt to fill any gap under 50 cents because gaps of that size have good edge and usually fill.But today I decided to wait because of what happened yesterday. Many day traders trade only in the moment and ignore the previous day's (or even the previous hour's) action.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-48008190548914200352009-09-25T15:00:00.002-05:002009-09-25T23:57:26.992-05:00

A Guitar World video review of my buddy Gabi's hand-made amplifier. http://www.gabtone.com/

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-17530757640316791492009-09-17T08:22:00.004-05:002009-09-23T09:27:25.808-05:00

Occasionally I like to peruse my old haunting grounds to see how I would be doing if I still traded using stock screening techniques. As many of you know, the Zweig stock screen was my "bread and butter" for several years and it performed marvelously for several years averaging a 50% return for me each year. I was using a "tweaked" version of the screen that simply ranked the Zweig screen

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com4tag:blogger.com,1999:blog-3966881160251922382.post-80595308487074979212009-09-15T14:39:00.004-05:002009-09-15T15:07:05.211-05:00

Today's action provided several opportunities for profit, but more importantly a clean Elliot Wave pattern formed throughout the day. I like Elliot Wave patterns because they provide several important areas where traders can find an edge.Understanding Elliot Wave patterns intra-day has helped me become a much more patient trader because they provide good entries, specific stop-loss areas, and

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-2810567583356613532009-09-15T09:26:00.002-05:002009-09-15T09:29:07.878-05:00

http://www.collegehumor.com/video:1920944

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-4068732263394263132009-08-31T12:38:00.003-05:002009-08-31T12:46:27.950-05:00

Over the past couple of weeks the indexes have really struggled to create good trading opportunities. They have often opened with a large impulse up or down and then consolidated for most of the day with very little movement.Today has given us another example of this. From the opening bell, daytraders have had little opportunity. The gap didn't fade at all. Then we got some indecision and

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-21340727796134878322009-08-21T08:50:00.005-05:002009-08-21T08:58:48.334-05:00

I've had several e-mails lately wondering why I use candlesticks in my charts. There is nothing magical about candlesticks, but they do provide information that can be used to understand some of the underlying sentiment or emotion in the market. Plus they look cool.Adam Hewison has a terrific free video on how you can use candlestick formations in your trading. Right now he's offering a free

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-62471628429185283672009-08-19T20:46:00.004-05:002009-08-19T21:10:15.061-05:00

Today had a good lesson for me on why having a bias is counterproductive as a trader. In Mark Douglas' great book Trading in the Zone he emphasizes the importance of understanding that at any moment in the market anything can happen. Every moment and therefore every trade is different from the last.This morning I ignored that good information and created a bias in my mind that caused me to

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-77668245625812242662009-08-13T09:27:00.004-05:002009-08-13T13:00:39.410-05:00

This morning gave us a brilliant example of why patience pays off when you are trading stocks. SPY provided a gap fading opportunity from the opening bell.I've found it important to avoid hesitation lately when the market opens higher or lower from the day before because the price often seeks equilibrium quite quickly and traders who hem and haw over their entry decisions are often left in the

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-22425608621998485802009-08-04T16:28:00.008-05:002009-08-04T16:49:42.377-05:00

I wanted to point out a great setup on a trade today that eventually fell apart. I credit the buyers who remain able to push this top-heavy market higher yet.I've detailed a "short" trade in SPY that set up today at 3pm EST. Here's what the trade had going for it (click on the chart to see more detail).A "3 push pattern" into the highs of the day (check out Corey Rosenbloom's take on the "3

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-68578202023240673692009-07-28T12:53:00.005-05:002009-07-28T13:07:50.043-05:00

I wanted to point out a trade that appeared today where everything pretty much lined up perfectly. It isn't often that the trading gods offer such nice setups.This morning DIA formed a bear flag with a doji candle at a 50% Fibonacci retracement as the moving averages crossed over. This all occurred after a new price and momentum low for the day.Whew. When the market gives you an opportunity

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-89935457956945679272009-07-27T09:20:00.003-05:002009-07-27T09:26:03.577-05:00

What a week! I was looking for a big down day that never came. Fortunately, as a day trader, I can take advantage of unpredictable moves in the markets without the emotional stress that holding overnight creates.Adam Hewison's latest video attempts to explain where we are in the price movement of the S&P 500. Here's his explanation of the video:With the S&P 500 making new highs and as world

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-5003399305313029002009-07-20T16:16:00.002-05:002009-07-20T16:17:30.000-05:00

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-65679448976475808762009-07-20T14:32:00.004-05:002009-07-20T14:37:53.344-05:00

For most of my life, I've been terrified by the prospect of running into a yeti. After following his Twitter posts for a while, I find he's not the spooky ape-man I once thought he was. In fact, he's a bit of a philosopher. A sample: every day is gift. Sometimes not very good gift though, like oven mitt soaked in pee. You can follow Bigfoot's daily ramblings here: http://twitter.com/

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-81319077414374710802009-07-15T07:38:00.008-05:002009-07-15T09:42:19.369-05:00

Pre-market futures are up over a percent as I write this early Wednesday morning indicating that we may be in for a trend day if things hold up.Yesterday on SPY the bulls held their ground and were able to pop price up above the moving averages with a little hammer type doji candle. As I've said previously, if the bulls can continue to push things up (and it looks like they might with this

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-73817636256918825702009-07-13T15:58:00.006-05:002009-07-13T16:13:35.271-05:00

I really screwed today up. After my first awful trade, I should have gotten long right away. Instead I hesitated as prices continued to rise.My first long trade didn't occur until about 2pm after 3 nice dojis had passed me by.That would have been OK, because there were other opportunities to make money (every green circle), but I turned those opportunities into losses because I either held too

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-25700954590742845782009-07-13T10:38:00.012-05:002009-07-13T11:14:37.841-05:00

My first trade of the day worked out nicely. It seems like gap fade trades have been working out really well lately. For a while I couldn't get a gap fade to work to save my life.Today's nearly stopped me out with that violent push up on the second candle. But two long legged dojis later we filled the gap and more.My second trade of the day sucked. I thought I had a perfect setup with a doji

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-89750684385891734862009-07-10T14:36:00.004-05:002009-07-10T14:49:41.020-05:00

After a sucky day like today, I really appreciate being able to go over the day from someone else's perspective so I can see what I missed and also clarify some of the day's events.Corey Rosenbloom is providing exactly what I need in his Idealized Trades Reports subscription service. When Corey was mentoring me, I asked him if he could come up with a report on a daily basis that would detail his

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-5824488720514746932009-07-10T14:33:00.002-05:002009-07-10T14:36:06.273-05:00

I'm such a ding dong.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-21317939771246795982009-07-10T11:16:00.000-05:002009-07-10T11:17:28.053-05:00

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-29540608968500041502009-07-09T09:20:00.000-05:002009-07-09T09:21:05.300-05:00

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-35737512519129192742009-07-08T15:54:00.003-05:002009-07-08T15:59:08.687-05:00

Sorry about the voice being too quiet. I'll get that figured out.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-23496271504797317902009-07-01T12:38:00.004-05:002009-07-01T12:44:53.640-05:00

I've been extremely bearish all day today and as a result I have given someone who is bullish a lot of money.I wanted to point out a nearly perfect cup and handle that is forming on SPY. I'm still bearish, so we'll have to wait and see if this pattern plays out to the upside. It probably will just to tick me off. I hate the market.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com4tag:blogger.com,1999:blog-3966881160251922382.post-90991175524139746082009-06-25T12:27:00.003-05:002009-06-25T12:33:25.227-05:00

Yesterday I wrote about using Fibonacci Price Extensions to set price targets and I wanted to show you one from today that worked perfectly. Remember, on a bull flag, the initial impulse is followed by a pull back (often to a moving average). Drawing a Fibonacci Price Extension from the beginning of the pole and then to the end of the pull back gives you price targets based on Fibonacci

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-7929205143301448532009-06-24T15:03:00.007-05:002009-06-26T12:01:26.087-05:00

I wanted to point out how I used Fibonacci numbers to make my final trade today. Initially I was playing for an Elliott Wave pattern as price plummeted and then violently retraced. However, I noticed that price pretty much stopped at Fibonacci's 50% retracement level. This gave me a concrete area to place my stop once I was in the trade which I took as price hovered around that 50% level.I

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-80399783658981311772009-06-24T14:31:00.005-05:002009-06-24T14:53:37.159-05:00

The trading day has about an hour left, but I'm done for the day. This was a very difficult day for me. It was my worst day trading so far this month. I started off with a stupid trade--trying to fade the opening gap. I thought it had good prospects of filling so I wagered more than I usually do on gap fades. Apparently it is unwise to fade gaps on Fed days. I noticed a Twitter post from

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-83768818226265923182009-06-23T15:11:00.003-05:002009-06-23T15:17:12.006-05:00

I've learned after some disastrous trading days that the day following a strong day doesn't typically work with my style of trading. What does work, however, is fading price extremes. On a day that was basically flat, if you were to fade every time price neared a Bollinger Band with a stop close by on the other side, you could have executed 12 successful trades today.It is a good idea to avoid

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-26757937952807957752009-06-22T15:53:00.002-05:002009-06-22T15:56:29.125-05:00

I quit the day early claiming that the trend day had fizzled. It hadn't. It turns out that we got a near perfect trend day with just a couple of touches on the 50 EMA and a close at the low of the day. It sure didn't look like that's what was about to happen as we got that bar that peeked just above the 50EMA with 25 minutes left in the trading day. But I guess that's where sticking to the

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-11074824967145001742009-06-22T14:34:00.003-05:002009-06-22T14:42:44.304-05:00

The day isn't over yet, but I think I'm done trading and I wanted to point out some things that happened today. Today started with a big gap from Friday's close and continued downward with a lot of pressure--our first clue that this could be a trend day. I warned Twitter followers that it was probably a bad idea to try and fade that gap.I've circled what I think are the best short trades of the

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-82505679200477016022009-06-20T16:19:00.005-05:002009-06-20T16:37:07.302-05:00

After moving to our new house six months ago, I've become sort of a bird nerd. We live on the edge of some woods and routinely see birds that I haven't seen my entire lifetime living in the city.Today, my daughter found an injured bird on the side of our house. It was lying upside down with its beak open and looked dead. After looking a bit closer we discovered that the bird was alive.I picked

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-86436158668183210342009-06-19T13:37:00.005-05:002009-06-26T12:01:57.784-05:00

Options expiration days are hard to trade, and I usually stay away unless something interesting develops. Today, we formed a very nice Elliott Wave that created some trades that might have not been obvious otherwise.Once that big 3rd wave shows up, the trades become clear. A short on that doji candle right on the 200 SMA (near the number 4) with a stop right above the 50 EMA could have resulted

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-44910937020105240122009-06-18T12:44:00.002-05:002009-06-18T12:44:29.590-05:00

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-79127772214228190812009-06-18T12:04:00.003-05:002009-06-18T12:06:45.436-05:00

SPY is forming an ascending triangle around yesterday's highs. Notice again how yesterday's highs are providing support and resistance (green arrows). A break above the triangle could signal a conservative buy. An aggressive buy would be around the bottom of the triangle hoping for a move up.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-36369325148616507942009-06-17T13:54:00.003-05:002009-06-17T13:56:02.771-05:00

Several readers have asked for an updated photo of my family. We do love Pooh.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-83961085530600196372009-06-17T13:34:00.006-05:002009-06-26T12:02:22.532-05:00

I am continually amazed at how accurately support and resistance levels play out during the day. I've highlighted yesterday's close (small dotted blue line) and yesterday's low (larger dotted blue line) to show you how many times price tested those areas throughout the day (the day isn't over yet).The red arrows point out where price pulled back to resistance levels and the green arrows point

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-79097590011375785122009-06-16T16:21:00.002-05:002009-06-16T16:29:37.105-05:00

SPY has been above its 20 day EMA (green line) since early March and today was the first day that we closed below. It wouldn't be out of the ordinary for price to make a beeline for both the rising 50 day moving average and the falling 200 period moving average. If those resistance levels are broken there isn't much to prop up the price.Notice also how the MACD had been declining the entire

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-83113958027025958402009-06-16T14:49:00.005-05:002009-06-26T12:02:52.919-05:00

I was anticipating that there woudn't be much trading opportunity today, but we got several decent trades throughout the day. I only capitalized on my third trade after making silly mistakes on my first two.The down move around 11:00am should have clued us in that an Elliott Wave was forming. The consolidation (blue dotted lines) provided a perfect place to take advantage of the 3rd wave. I

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-76169666323568081642009-06-16T10:10:00.002-05:002009-06-16T10:10:38.251-05:00

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-4279398575798361492009-06-15T20:22:00.000-05:002009-06-16T08:30:45.860-05:00

Trend days are usually my best days of the month, so I was interested in the opening action today as we had a large gap down. There wasn't much of a pause and the market continued to head downward.I noticed that when price inched back after the first 20 minutes that it couldn't overcome the resistance that had been support during the first 15 minutes (1st yellow line). I took a position after

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-55659415546108166262009-06-12T14:04:00.002-05:002009-06-12T14:20:14.852-05:00

Trading today was like watching paint dry. Again, price from yesterday formed support and resistance for most of the day (blue arrows). And once again, we had a narrowing consolidation for most of the day with a breakout late in the day.With the opening gap down (even though it was rather small), I had a bias toward the downside and took a short trade (number 1) at 10:30. I was targeting the

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-59141080191013326562009-06-11T16:00:00.003-05:002009-06-12T10:13:54.854-05:00

Everybody is closely watching the 950 level on the S&P 500 for a breakout and confirmation that this rally still has room to grow. I thought we had that today as price consolidated for a couple of hours before breaking through toward the upside. I think the first green arrow was the best trade of the day as price broke though a narrowing consolidation (yellow lines) that formed a nearly perfect

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-33293291339500035192009-06-10T08:34:00.008-05:002009-06-10T09:37:17.784-05:00

My wife and I just got back from Los Angeles on Sunday. I attended the Traders Expo and my wife jogged around the city. She lasted about 30 minutes in a seminar before she decided that her time would be better spent running through the hills of Hollywood. There were a few seminars that made me wish that I was running with her (and I hate running), but for the most part, I felt like I learned

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-10554246584152186302009-06-08T16:17:00.005-05:002009-06-08T16:34:12.823-05:00

Today didn't turn out the way I expected. After a rough day in many foreign markets, I expected the US markets to struggle more than they did.I took a position right out the market open. Although the gap was not huge (less than a buck in SPY), I felt that there was enough negative momentum to push the market lower. The trade went my way after a brief move upward.A pullback to the 20 EMA got me

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-3716506239977018612009-05-18T16:59:00.008-05:002009-06-26T12:04:17.409-05:00

After a decent sell off last week, most traders were expecting an up day. I don't think many were expecting to see an up day with this kind of strength. I know I wasn't.Today we got another trend day. I've learned from Corey at Afraid to Trade that trend days should be a day trader's bread and butter. Just one or two of these kinds of days can make enough to cover you for a week or even a

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com21tag:blogger.com,1999:blog-3966881160251922382.post-53610122366626162252009-05-13T14:08:00.003-05:002009-05-13T14:23:42.578-05:00

My wife is painting our bedroom so I've been kicked out of my corner office. I am currently trading from the dining room table with a laptop and a 22 inch monitor (just to look cool). I'm planning on moving my trading station down to the basement to take advantage of cooler temperatures during the summer months.By the way, if you're a trader, you need one of those giant calculators. I remember

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com19tag:blogger.com,1999:blog-3966881160251922382.post-56817526861609117132009-05-13T13:35:00.005-05:002009-06-26T12:04:45.544-05:00

A couple of the three StockPunk readers have expressed an interest in seeing actual examples of trades that I've taken during the day. Although the day isn't over yet, I thought I'd post some trades that I took today. I've erased the number of shares I purchased so you wouldn't be overwhelmed by my massive account size (it's in the hundreds of dollars--I kid you not--OK, I kid you, but I'm

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com18tag:blogger.com,1999:blog-3966881160251922382.post-17394724396049296162009-05-08T13:26:00.005-05:002009-05-08T13:51:35.150-05:00

Things are finally starting to click for me again. I've made my target for May this week. It helped that there were 3 trend days this week! Usually you can expect 3 or less trend days in a month, so it is best to take advantage of them when they show up.I took advantage of the trend day Monday. We got another one on Wednesday, but I was so biased toward the bearish side that I refused to

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com18tag:blogger.com,1999:blog-3966881160251922382.post-68009638147582085632009-05-04T14:28:00.003-05:002009-05-04T14:31:09.913-05:00

Today's prevailing trend helped push a lot of stocks upward. I took a couple of narrow candle trades that were trading with the trend using breakouts from narrow 30 minute candles as my entries. Here are a couple charts:

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com17tag:blogger.com,1999:blog-3966881160251922382.post-44664496746671722332009-05-04T08:21:00.001-05:002009-05-04T08:22:51.043-05:00

Stock Screening - Google Finance Falters by D.R. Barton, Jr. Last week we ended by talking about Google Finance's use of Web 2.0 tools to make an addictive little screener. And it is truly fun to play with. But alas, when the

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com26tag:blogger.com,1999:blog-3966881160251922382.post-52082677737540611622009-04-30T13:23:00.003-05:002009-04-30T13:25:15.771-05:00

My trading has sucked today, but I still have it much better than anyone had it 100 years ago. Life is good.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com17tag:blogger.com,1999:blog-3966881160251922382.post-90454853360919901982009-04-28T12:39:00.005-05:002009-04-28T21:16:24.547-05:00

TraderAM has an excellent site where he details every trade he makes and records the "R" value gains and losses. Today I made a successful TraderAM trade on RIG.TraderAM looks for stocks that have gapped up above or down below yesterday's trading range. RIG gapped down today below yesterday's lows (white line). I bought on the fourth narrow candle after price pulled back to near yesterdays

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com17tag:blogger.com,1999:blog-3966881160251922382.post-45227216772695764862009-04-28T12:31:00.004-05:002009-04-28T12:56:25.664-05:00

DNDN was a stock I was following looking for a breakout trade today. Fortunately, I didn't take a long position when it was up 16%. In a matter of a couple of minutes it went from being up 16% to down over 70%! Trading was halted on the stock after that insane drop. I can't imagine what people are feeling who didn't have a chance to get out.There's an inherent danger trading individual

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com17tag:blogger.com,1999:blog-3966881160251922382.post-65649857407565278582009-04-27T12:54:00.003-05:002009-04-27T13:06:35.260-05:00

I'm pretty new to Elliot Wave Theory, heck, I've been using technical analysis for less than a year. I'm pretty fascinated by the psychology behind it, and I've noticed that watching for Elliot Waves helps me avoid overtrading and seeing setups that don't exist.Here's an actual trade that I took today using Elliot Wave. I have erased the number of shares (100,000--OK not really), but you can

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com17tag:blogger.com,1999:blog-3966881160251922382.post-86516277190732927592009-04-27T10:25:00.001-05:002009-04-27T10:25:25.678-05:00

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com18tag:blogger.com,1999:blog-3966881160251922382.post-90602316521453453482009-04-27T09:54:00.006-05:002009-10-15T09:07:34.754-05:00

I know it wasn't her fault--she was probably just picking up a check, but there is really no excuse for this monstrosity. Fortunately, I didn't see the Star Wars Christmas Special when I was a kid. It would have ruined the series for me for sure. Of course, one could argue that the Christmas Special was better than the Prequels.I'm a geek.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.comtag:blogger.com,1999:blog-3966881160251922382.post-6697966693058587782009-04-27T09:22:00.003-05:002009-04-27T09:30:27.235-05:00

I've been burned a bit during April because I've had a bearish bias all month. That hasn't served me well as price continues upward. Looking at the weekly chart gives us an idea why the March and April push upward occurred.As price continued making weekly lows, momentum (as demonstrated using the MACD) was making new swing highs. This should have given me a clue that the downward move was

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com17tag:blogger.com,1999:blog-3966881160251922382.post-78593243301282960122009-04-24T11:38:00.004-05:002009-04-24T17:30:18.212-05:00

Campbell's Soup set up a nice bear flag on the 5 minute chart that met its target . It then set up another bear flag after that. Normally I would take that second bear flag (even though they don't occur very often). But the second bear flag occurred on the third swing up of the MACD as the price made its third swing down. Time will tell, but usually when we see a pattern like this it means

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-91910330328532341972009-04-23T12:13:00.004-05:002009-04-23T12:32:46.261-05:00

I'm sorry to the three of you that read my blog (not counting the 3,000 Anonymous haters). I haven't been posting much lately because my trading has sucked and I've been trying to figure out how to stop the bleeding.I had a pretty good month of March, but I've given everything back and more during the month of April. So, out of that frustration, I kind of put writing on the blog on the back

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com4tag:blogger.com,1999:blog-3966881160251922382.post-42666557460250767402009-04-16T19:30:00.005-05:002009-04-16T19:55:12.310-05:00

SPY has been giving me fits lately, so I've been looking at other alternatives. A "narrow candle" trade setup on SYNA this morning so I took it. I risked 15 cents per share and gained about a buck per share for a 6.66R trade. It's been a while since I've had that much of an "R" gain on a trade. It's much harder to find those kind of risk to reward ratios trading indexes.I've always struggled

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-59406376139956441282009-04-13T19:12:00.004-05:002009-04-13T19:19:54.588-05:00

I've been concentrating on trading SPY lately (with limited success) and I've kind of stepped away from trading individual stocks like I used to. I watched APA as I traded SPY today and saw some great setups that I should have taken.There are two trades that are really close. The first is the bull flag (click on chart to make it bigger). The flag dropped to a moving average with a doji in a

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-67411216910664401422009-04-07T20:23:00.003-05:002009-04-07T20:29:50.559-05:00

The market has been hard for me to figure out lately, and I haven't been real motivated to post because I've had a hard time pulling money out of it. Today was no exception.I actually would have made good money today, but when I attempted to short SPY at 10:30, TradeStation said they had no shares available. I tried to substitute DIA instead, and got the same message.Instead of finding

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com4tag:blogger.com,1999:blog-3966881160251922382.post-85241685633161943692009-03-27T10:56:00.002-05:002009-03-27T11:19:41.269-05:00

Five reasons to avoid gold -- are you reading this Dad?Real-time charts for FREE. I'm very impressed with this site!Index IndicatorsMoney Flows via the Wall Street Journal2 pm in New York--Time to Buy!!Did you see the shot that Marcus Denmon from Missouri made yesterday. That was the first time I've seen a shot like that live.TraderAm trades 15 minute narrow candles and made 324.5R in 2008!

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-73774423744944093442009-03-25T15:51:00.004-05:002009-03-25T16:12:51.654-05:00

It's a good thing that I didn't go out to lunch today because the best trade of the day came right at lunch time. It's also a trade that saved my buttocks because I was in the hole $1500 bucks until I took it.I got into the hole early by trying to fade the opening gap. I was a bit over-anxious and got in right after the open hoping that the market would go down and fill the gap. I refused to

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-36310989515821201132009-03-24T12:58:00.004-05:002009-03-24T14:53:08.767-05:00

I had lunch with a friend today and left while this bull flag pattern was developing. I had even put a Fibonacci retracement on it thinking that it might be a good place to get in. It set up perfectly about 10 minutes after I left with a bounce off of 61.8% and went on to make its target right before I got home. More proof that the market hates me.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-83105010472763165552009-03-23T15:48:00.002-05:002009-03-23T16:00:50.269-05:00

I don't think I was alone in expecting this to be a down day. After the massive gap up, I was still doubting this rally--toxic debt relief and all.I dipped my toe in after the doji at 11:30 (first green arrow) and quickly took my profits at noon. As price flatlined I ran some errands expecting the market to regain some sanity over the lunch hour. I felt a bit vindicated when I got back as price

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-27132012911113358622009-03-17T17:47:00.002-05:002009-03-17T18:03:58.816-05:00

I was able to make my monthly goal during the first few days of March. After an awful February, I thought it would be nice to sit on my winnings and trade with a simulator to test some strategies. I found a strategy that was working very well. Yesterday the strategy was up over 8R.I decided to do some more testing this morning. The market opened kind of scratchy anyway. So I took several

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-55100832861277347492009-03-16T19:42:00.003-05:002009-03-16T19:50:51.068-05:00

It looked like we were going to have another trend day today. I wrote to Corey at Afraid to Trade and lamented that I wasn't playing for a trend day even though the market was having one. He wrote me back and said that he highly doubted that we would end higher--there was just too much against another trend day. He ended the e-mail with, "Got some major confluence overhead that could stop

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-82337279868762453242009-03-11T20:33:00.002-05:002009-03-11T20:47:25.805-05:00

There wasn't much action in the major indexes today as we kind of churned after a huge day yesterday. I did notice a nice bear flag at noon that met its target. I've been playing around with Fibonacci retracements on flags lately, and I've notice that they often provide concrete areas to place stops. In this instance, there was a nice doji around the 50% retracement that provided a good entry.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-37853893934609038822009-03-10T16:03:00.003-05:002009-03-10T16:13:48.660-05:00

For those of you who enjoy seeing the market go up, today was your day. It's nice to have some good news once and awhile. This was a trend day, but it was difficult for me to trade. I was chomping at the bit after the opening gap of over $1, but I couldn't find a decent place to enter. I took a trade on the first pullback of the day (first green circle), but I had a hard time finding a decent

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-71007845795868837592009-03-09T14:12:00.004-05:002009-03-09T14:36:18.590-05:00

Visit Isthisthebottom.com for answers about whether it is time to call the bottom and jump into the market.DinosaurTrader linked to a site with some excellent articles and charts dshort.com. Check out this cool Bear Market chart they posted:For those of you who have friends and relatives who think you are just "gambling" when you trade, here's a site that allows you to do just that--bet on

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-91789450292304828042009-03-05T17:36:00.002-06:002009-03-05T17:44:36.613-06:00

Except for the little bump at the end of the day this was a perfect trend day. Unfortunately, I was hesitant to trade it and I lost out. I've circled the high probability trades (shorting). I took the pullback in the third red circle and held until the end of the day for a wimpy 1R gain. I wish I had taken those three dojis just after the open and held on all day with a nice big position.I've

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2tag:blogger.com,1999:blog-3966881160251922382.post-8809666585095997432009-03-04T19:09:00.002-06:002009-03-04T19:22:41.945-06:00

One type of trading that I've been working on for the last few months is a "trend day" in DIA. I've had real trouble trading trend days because I second guess every decision and usually end up making a whole host of mistakes. I nearly blew my chances again today at about 1:10pm where DIA's price dropped down to the 200 SMA (red line). I had a stop set just above the 200, but fortunately after

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-62399823245952996112009-03-03T21:10:00.002-06:002009-03-03T21:29:45.480-06:00

Corey at Afraid to Trade was recognized today for his diligent (some say "insane") work on and understanding of Elliot Wave Theory on Andrew Horowitz's blog The Disciplined Investor. After the article was published (you can read it here), Corey told me that his blog was inundated with traffic and he and his web team had to work hard to keep the blog from crashing. It was down for a bit, but they

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-69579626716642173932009-03-03T17:59:00.003-06:002009-03-03T18:07:17.560-06:00

My first trade was a gap fade on DIA. I wimped out and got out before it met its target for a decent (1.4R) gain. The rest of the day was pretty choppy so I stayed out and traded EQ's narrow 30 minute candle. I placed a stop above the candle (orange dotted line) with plans to sell at the lows of the day near the close. I wimped out on this one two as price moved up and I jumped out. If I

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-26122366598989507142009-02-26T17:57:00.005-06:002009-02-27T08:53:34.587-06:00

What a frustrating day. After the gap didn't fill, I went long on DIA only to be quickly stopped out with a stab beneath the 50 EMA. Then price formed a nice bear flag at 12:00 (first set of blue dotted lines) and I attempted to short and was told that the stock wasn't easy to borrow by my broker. A stock that trades 31 million shares in the day and it isn't easy to borrow?!!I assumed it was a

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com1tag:blogger.com,1999:blog-3966881160251922382.post-89290425989855004282009-02-23T16:00:00.003-06:002009-02-23T16:04:04.519-06:00

If anyone out there has a system that picks stocks like these the day before, I'd be interested in hearing a bit about it. This one would have made my decade.

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com3tag:blogger.com,1999:blog-3966881160251922382.post-10405488521148659082009-02-23T15:17:00.006-06:002009-02-23T15:55:41.063-06:00

I love trading narrow 30 minute candles for several reasons:They provide huge risk to return ratios.They don't require constant monitoring.You can easily set up a "bracket trade" and let the market do its magic.They provide a narrow 2 to 3 hour time frame for trading entries.It can be much easier to spot a trend on a 30 minute chart.I've learned that trading 30 minute candles indiscriminately,

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-47981463049086692002009-02-23T14:15:00.006-06:002009-02-23T14:31:41.113-06:00

It's kind of crazy to think that we are now at the same point we were in 1996. How awful for people who trusted others to manage their money.Like others, I didn't have the clairvoyance (or the opportunity) to move my retirement money to the safety of cash. Most of us don't have many options when it comes to our retirement and even if we have a little bit of market knowledge, we are still

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com3tag:blogger.com,1999:blog-3966881160251922382.post-72965866885151963052009-02-17T15:30:00.006-06:002009-02-17T15:51:52.449-06:00

Our "coiled spring" is now broken--to the downside. That's not good if you're a bull.Today's action was difficult for me to trade. For the most part I avoided dumb impulsive trades. I didn't make money on any of the 5 trades I took today (the red arrow is one of the short trades that I made and stopped out). My chart on Tradestation didn't look as bad as the one above does. Today was much

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com4tag:blogger.com,1999:blog-3966881160251922382.post-74219915950773938792009-02-17T08:00:00.003-06:002009-02-17T08:05:28.079-06:00

The market's wedge has been narrowing for a long time now and seems poised to break out pretty hard. The premarket chatter points to the down side today and there doesn't seem to be anything positive to counteract all the negativity. The November lows are well within reach, so I'm looking for at least a retest of those lows. I don't know if it will all come in one day, but even though I'm

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-92106008297534352842009-02-13T13:01:00.003-06:002009-02-13T13:06:44.489-06:00

The snow is still piling up. I made a few pretend trades this morning. I don't feel the pain of losing as bad when I'm paper trading, but I had to look to make sure that the account was not real several times just to make sure. I was up $1,000 for a bit and then ended up down $700 by the time I was finished. I'm not sure what my problem is, but I'm glad the money wasn't real today. Maybe this

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com0tag:blogger.com,1999:blog-3966881160251922382.post-21090921065173519132009-02-13T09:25:00.008-06:002009-02-13T09:55:58.391-06:00

The market looks a little tepid this morning. That works out well for me, because I'm not trading today. We're getting a snowstorm this morning and the above photo is a look out my window. I like being able to stay home and enjoy the snowfall with my kids.It's a good life so far. We'll see how long I can keep it going.I'm just finishing up a book called High Probability Trading by Marcel Link

Scotthttp://www.blogger.com/profile/01238535216153841213noreply@blogger.com2