Gary_Fullett joined. vj joined. Gary_Fullett good evening all kent joined. stockseller Evening Gary vj HI Gary JimC Sir Art joined. Gary_Fullett sir who walked in Art good evening Gary_Fullett h art JimC lol kent hey Art kent Hi folks :) Art hi Gary and Kent carnac gary, keep eye on cl4 240min./150 min. for a poss.ut of 60.00 creek. carnac clh Emile joined. kent Hi Emile Emile Hi Emile how is everyone Gary_Fullett im well ty kent so far, so good, lol, ty Art hi Emile Emile hi gary Gary_Fullett i am carnac Emile hello art Dave_M joined. carnac figured. lol. kent hey Dave Doc_K ccarnac 60.45 tonight Gary_Fullett may want a retets of ice at the 6145 area Kelley joined. carnac doc, 6010 Gary_Fullett i want to talk on amos about his KR thurst yesterday kent Hey Kelley Gary_Fullett he had the trade inaitlly right Gary_Fullett but he mentioned kent thurst = thrust Gary_Fullett that if a valid signal Gary_Fullett that Kelley hi Kent, good evening Folks Gary_Fullett contiation would occur today Art hi Dave and Kelley Gary_Fullett and reversed Kelley hi Art carnac continuation Dave_M what market we talking gary? kent beat me to it, lol Doc_K cl kent crude carnac sorry kent. u do it the best. lol. Dave_M hey kent kent no prob, ty swetz joined. kent sssssssssssssssswwwwwwwwwwwwwwwweeeeeeeeeeeeeeeeettttttttttttttttzzzzzzzzzzzz :) Kelley hi Swetzeroni Gary_Fullett crude warren joined. Art hi swetz swetz kkkkkkkkkkkkkkkkkkkkkkkeeeeeeeeennnnnnnnnttttttttttt kent Hi warren swetz ::biggrin Gary_Fullett so we didnt get that Gary_W joined. swetz hi kelleyroni ::smile Doc_K correction 60.42 Art hello warren , GW swetz howdy Art ! ! ! ! ! !! !! vj Howdy Swetz swetz hi VJ ! ! ! ! ! ! Gary_W hi gang kent does he wait for the continuation, or does he enter then "go with the flow"? warren hi kent, swetz, art and all swetz and warren and DocK and Gary W and Gary F Doc_K currently 60.13 Dave_M left. Dave_M joined. swetz ::smile swetz and Dave ! ! ! ! ! ! Doc_K yo swetz Dave_M sorrry, dropped out that was wierd carnac at least we r getting a pullback to 60 creek . but alert to poss. ut on 240/150 min. Dave_M Sw!! Nick joined. kent Hi Nick swetz hi Nick ::smile Art hey Nick Nick howdy folks Kelley hi Mr. Nick Gary_Fullett butthe broken ice is the 6045-6140 area Gary_Fullett so that area to me is more of the short Gary_Fullett broken ice retest Joe_K joined. swetz HIDE ! ! ! ! !! swetz lol Kelley hi Joe carnac but amos stop loss just over 60. correct? Joe_K mornen swetz oops, hi Joe ::unsure Gary_Fullett not sure Gary_Fullett where he palced his stop Kelley lol Art hi Joe warren mornen joe Gary_Fullett i dont knwo his models Doc_K he said stop just over 60 carnac ok. he did say over 60. but where? continue w. your analysis. sorry. Gary_Fullett no wasnt an analysis Gary_Fullett just was a market observation vj Whats the agenda for the day Gary? carnac agenda-kr->thrust, cl trade. Gary_Fullett thursday night i am open Gary_Fullett i dont knwo if swetz or joe had anything on thier minds vj Stops? Gary_Fullett i want to finish charts later Joe_K Was going to talk a tad on Time frames Joe_K whenever Gary_Fullett sure joe Gary_Fullett then i can talk on stops stockseller Morning Joey vj ::up Joe_K you can go first Joe_K Gary Joe_K Hi SS Joe_K Either way Gary_Fullett okay Gary_Fullett stops Gary_Fullett a great topic Gary_Fullett its a matter of choice Gary_Fullett but with stops to me Gary_Fullett u want to palce them at an area Gary_Fullett where u feel u r wrong the trade.. Gary_Fullett sometimes one cvan ahve a larger draw down Gary_Fullett but the postion may be right Gary_Fullett so if a long term trade Gary_Fullett example monhtly BBob joined. Gary_Fullett the riosk to reward is much larger Gary_Fullett wyckoff used diasters stops Gary_Fullett someaning he had large stops in case of a mis hap Gary_Fullett but also used very tight stops vj A stock loss order, if placed, should be at the larger stops? Gary_Fullett so its a matter of choix Gary_Fullett so if u trade a monthly then stop is much larger than one that would be a 30 min trade vj stop loss order not stock loss order :) Gary_Fullett well u dont want to get stoppe dout Gary_Fullett on a spting or a UT Gary_Fullett so has to eb away from that Nick Gary, I don't mean to interrupt but an important element of stops is also the size of ones account and the risk related to the stop location carnac yes vj I dont agree Nick Nick I think it is important that trade size must be than considered Gary_Fullett i dont agree nick vj The stop point will be decided irrespective of the account size Gary_Fullett because. stockseller Either do I Gary_Fullett if one has a small account Gary_Fullett and the risk is 2 k vj the number of shares to be bought will be decided based on ones account size Gary_Fullett because thats where the trade is wrong Nick vj that is my point vj ah.. got it Gary_Fullett u weant to stop to tell u u r wrong the trade Dave_M left. Dave_M joined. Nick but in commodoties some markets are too risky for small accounts Gary_Fullett size of account shouldntr matter Gary_Fullett well than u dont trade it Gary_Fullett but if u see a prtoper trade Nick you cannot simply ignore money management Gary_Fullett U cant afforrd not to trade ir Gary_Fullett okay Gary_Fullett whats monery management? Joe_K Some use $ (set amount) some use Chart Joe_K Depends Nick not risking so much that you are out of the game stockseller I think they mean a tool to prevent loss of capital carnac can work around sizew. a diff. model. eg., thrust should work immediately. so can view thrust area on a 5 min. w. stop below low of prior bar. stockseller left. Nick just because a trade is proper, if stop placement risks 10% of your capital that is wrong Gary_Fullett but Gary_Fullett if u palce a "money stop: Joe_K except some of us believe ya cant use lower barsCarnac stockseller joined. Joe_K :) Gary_Fullett and that money stop is above support Gary_Fullett what do u do if long? stockseller Joe booted me ::mad Joe_K lol hugh left. rhonda joined. carnac joe, i learn from amos and then reapply to fit my understanding. is proper and safer. lol. warren left. vj rhonda ::rose :) Joe_K Stops should be catered too, Trade Style type, and Time frame Nick and risk Kelley good evening Rhonda::beer:) rhonda ::biggrin Thank you vj!!!...Evening all stockseller how about comfort level thennick? Gary_Fullett but if long Gary_Fullett and u sue a money stop Gary_Fullett use a money stop Joe_K Trade Style Type Day, Swing, Position Gary_Fullett and that stop is above suport Nick no, capital preservation Gary_Fullett how do u trade it? stockseller Bang on joe... rhonda Hiya Kel, Thank you too!!! Kelley :)yw swetz agree Nick with you 100% Joe_K and Time Frame warren joined. carnac for turtles, stops determined by volatility. i.e., average of true range. is good guide. Joe_K Dont use Weekly stop on a Hourly trade Joe_K ect noob the more trading styles that you trade, the less your overall portfolio risk stockseller Not necessaryily Gary_Fullett so if u r long Nick trading style does not = risk aversion noob have to be un correlated ofcourse Gary_Fullett and u say u want to risk 200 dollars smaller account Gary_Fullett and ice is at 400 dollars lower Gary_Fullett what do u do? swetz I think you guys are missing Nick's point Nick pass the trade carnac no rigid rules to a fortune or to protection.lol. Kelley dont take the trade stockseller hold off Nick thanks Kel Kelley :) rhonda was there a test? carnac on day of entry, turtles use i/2 of average prev. range. rhonda I am late and missed something Kelley no, topic is "stops" Gary_Fullett no rhonda vj Gary - can we get to a little basics, if others can bear a little, and start with how to decide where the stop should be by looking at a chart? rhonda oh OK thanks Kel Nick You MUST have good money management rules to survive Joe_K Just stop talk Rhonda Gary_Fullett but what if it is a proper trade? Gary_Fullett and fits criteria? Kelley yw vj money mangement, time frames ..... swetz take an exaggerated example Gary_Fullett well a daily chart postion Nick still pass if it is not within the money management rules Gary_Fullett the stop should be under a wekly support if long Kelley isn't money mgmt part of the traders criteria also? swetz you put a stop loss at a point that risks 50% of your capital Gary_Fullett i think stops swetz all you need are 2 wrong trades in a row and you are history Gary_Fullett should be palced on the higher tiem frame of the the trade Nick wait for a trade that meets the parameteres swetz doesnt matter how perfect the setups are, you can stil FAIL Al joined. stockseller Depends on what your definitions of good money management is. Gary_Fullett great point swetz Nick right swetz carnac u decide on criterionof what is no longer reason u entered trade. arbitrary. swetz and lose it all, if putting too much of your money in one trade Kelley y swetz that is Nick's point Gary_Fullett but swetz and very good one Gary_Fullett its a great point Gary_Fullett remeber amos LOK swetz Amos did one of his lectures on exactly this point Nick obviously waisted on most Gary_Fullett if the LOK is very high u take the trade Gary_Fullett right? Nick I won't Gary_Fullett what if the risk is high too? swetz agree Gary 100% Gary_Fullett what if the lok is lower carnac swetz, if so that u r history, then history cannot repeat itself. lol. Gary_Fullett but the risk is lower? soilguy joined. Gary_Fullett so u take that trade swetz just reduce # of shares/contract if causes you to risk too much of your capital on trade vj LOL carnac swetz lol carnac vj Gary - The support under which the stop is placed, should it be a strong support like a support tine? Or can it be the previous swing low? Can it be the broken creek? Joe_K If your letting account size determine taking a trade its ok too but you wont find many Position traders worried about that Joe_K Shouldnt be trading if thats the case Joe_K I know very few who use 3% Joe_K of Account Joe_K on every trade Joe_K or less carnac consider: low of last bar, consider 1/2 if recent volatility. id trending, neither will be violated. swetz it doesn't determine taking a trade but it DOES determine the amount of your capital that should be allocated to a particular trade Gary_Fullett depends on yoru stlye vj Gary_Fullett and niche Gary_Fullett a good topic i like it Gary_Fullett ii think all points are good swetz I agree with Gary when he says if trade is proper take it Joe_K The Stops you do use should be determined by style and time frame, ( if your a Tech trader ) swetz but don't put all your eggs in one basket no matter how perfect the setup is stockseller agreed swetz because if Wyckoff admints that you will lose 1/3 of time if you follow his method perfectly swetz Gary says himself that the best traders lose more than 1/2 the time Gary_W swetz, it looks like you and I follow the same rules on risking capital. Mine is pretty much based on elder Gary_Fullett i am not talking eggs lol Doc_K in day trade in NG may use 2-300$ stop in longer term position trade may use 2-3000$ as stop swetz mine too Gary carnac thrust=demand. thus shld advance immediately. close stop warranted and justified. vj Well swetz, then I am one of the better traders as of now :) Nick so is mine Gary swetz lol, me too vj as I have been losing mere than 1/2 LOL swetz ::smile swetz lol vj Joe_K Nick I think is talking on Trade selection / Account Size Nick A very important point I learned from Elder swetz agree Nick Nick as well as record keeping carnac i follow junior. lol. stockseller dont feel bad joe lost 100% of mine im moving into his trailor Joe_K :) swetz lol SS swetz you better hope the A/C works swetz ::smile stockseller when I was green and i started trading metals. Nick his 2%/6% rule would have saved my ass in 2000 had I known it then stockseller I would put trades on with 50-70 % of my capital JimC left. swetz would have saved me in 2001 swetz ::smile stockseller I dealt with a stock broker who knew zero about commodities Joe_K A Stop isnt part of trade selection its part of set up, target, risk allocation Joe_K 2 different animals Nick agree Joe Joe_K Both Money Management Gary_Fullett agree joe stockseller lookingbacknow it's nothing short of a miracle that I didn't blow it all away. Gary_Fullett very well said carnac also agree. Joe_K Gary is correct Nick is correct Joe_K Now let me get yas riled up Joe_K lol swetz lol Joe is correct in saying Gary and Nick are correct ::smile Nick gary is rocrcet Joe_K Swetz is correct JP ::smile Gary_Fullett no this is an importat topic stockseller You need to keep in line with your style and if you trade tech.....then your parameters vj It happens very often with me- a stock is bought and a stop is placed, and it happens to be say 10% below the puschase price. The stock falls 4-5%. This situation is very difficult for me to decide whether to hang on or sell and exit. Gary_Fullett and we all ahve out views Joe_K Yes SS vj What should one do? Joe_K Know your style first Joe_K Are you comfy with that Joe_K Tech trader Fundy vj yes Joe_K ect swetz VJ - I ask myself, is the reason I got into the trade still valid Joe_K If Tech stockseller vj why put a stop at 10%? and then question it at -4-5%? Joe_K Its easy Joe_K Mechanical swetz if the answer is yes and my stop has not been touched, then I generally leave it alone vj well the support is below 10% (just a e.g. here) swetz also, ask yourself, would you buy the stock now? stockseller If your stop is set at 10 then dont think about it until it gets there swetz after it has fallen 5%, if the answer is yes, keep it carnac if all here r correct, then i want to be incorrect-part of the 5%.lol. Joe_K correct SS swetz if you can answer yes to those 2 questions, then you shouldnt sell stockseller Or what about the oposite if it goes up an dthen it's only 50% of your target do you sell it early? Nick swetz and I have read the same books, we need to loan them to Gary Joe_K Its all going to fall back on how well you devised your trade plan and your ability to over ride that Joe_K Thats a fine line Joe_K Every trader is diff Gary_Fullett this is good stockseller Right on Joe Gary_Fullett i like tsi stockseller But Gary_Fullett this is what open night is Nick open mic night stockseller what you are willing to risk may not be what I am willing to risk Dave_M left. Dave_M joined. swetz right SS swetz powerful statement swetz goes back to what Joe says many times swetz KNOW THYSELF ! ! ! ! Gary_Fullett :) good stockseller so what happens is each person must decide there risk/reward factor vj I see your point swetz -But I am sure any purchase made by anyone is based on the analysys (and hope :)) that it will go up. If it immediately falls, then it clearly is not doing what you expected to do when you bought it. Joe_K Just be systematic and as regular in approach as you can be, so you establish cohesion Nick everyone needs a trading plan as Joe said and risk tolerance should be a part of it Joe_K Sometimes you WILL over ride Everything swetz right SS but don't go crazy like risking 50% of capital on one trade swetz that is insane carnac smaller risks on smaller time frame as view going into larger time frame support. swetz I use the Elder/O'Niel guidelines Dave_M left. stockseller Swetz by teh book it sure is..........but guess what? warren sooner or later you will be hit by an outrageous spike that will destroy the best placed stop swetz Elder says 2% and O'Neil says 3% stockseller for 2 1/2 years that I did that in silver which was 4 years ago swetz right warren, which is why you don't want to put all of your capital ih one trade Doc_K never set price to end trade have target zone follow with stops tighten as get close to zone swetz market can do anything warren very true Nick Elder is 2% on any one trade and 6% on all open trades at any one time JimC joined. carnac larry hite says 1%. all trades r 1%. Nick that works for me Gary_W Never knew about O'Neil's 3%. I know of his 8% initial stop loss Joe_K Use what your comfy with, and what your best perfomance has proven to be correct to you swetz VJ - got to consider shakeout possibility stockseller I will never ever see that kind of profit taking in my lifetime. swetz as well Joe_K Like on set ups Joe_K I dont use 3 to 1 swetz Wyckoff knew about this so he set stops at areas that would hopefully prevent that from happening to him Joe_K Every trade stockseller Now going forward knowing what i know now I should hav ebeen put into a looney bin swetz but shakeouts happen Joe_K Its a good guide line Gary_Fullett lol Nick however, realize that if your comfort level is too high than you may not be around to trade another day Gary_Fullett i agree joe carnac rhearse the loss before it happens. preparation of loss is key. vj Rgiht Swetz - SMI course says the stop should be placed keeping the shakeout in mind Joe_K But do I just take 3 to 1 trades swetz it happened to me with VOCS earlier this week Joe_K Nope Joe_K Just depends swetz yes sir VJ ::smile swetz lol SS vj ::ninja stockseller Gary mentioned a few trades earlier this week. swetz but it didnt keep me from buying it again Joe_K 1 aspect I use I try to cater Trades going forward based on House money Joe_K Not mine swetz sometimes you get shaken out and you just cant help it swetz just part of trading swetz the point is to not get discouraged swetz and keep your game face on swetz ::smile Joe_K Everyone takes losses Joe_K Its part of the business carnac unemotional planning is easy til the battle starts. Joe_K You Win on average swetz well if you dont have a plan to begin with, you have already lost the battle swetz before it even starts kent stop? what's a stop? lol Joe_K Always have a plan swetz lol kent Joe_K agreed vj You get shaken out, that is injury - you can live with it. But if the price creeps down slowly, troubling you everyday whether to sell it or hold it, and then your stop is hit - that is adding insult to injury. swetz right Joe - ALWAYS stockseller he mentiond long cocao around 15.74 from the minute he said it it moved up now it's about 17.27 vj ::mad - why didnt I sell it Nick kent, ral men don't use stops carnac stop or i'll shoot. lol. vj I ask myself kent lol Nick Joe_K At minimum use a risk disaster stop stockseller I aske dhim why he feels it will go up at 15.74 and he explained..... Joe_K can be way out swetz VJ you raise a good question but there is just no simple answer Joe_K But have one stockseller But he also gave a stop...... Joe_K yes SS Joe_K Should have been under 1550 Nick disaster stop=Anna Nicole Smith swetz but just ask yourself those 2 questions I mentioned earlier stockseller "willing to risk" x amount I persoanlly put astop of 2 cents lower....My comfort level swetz if can answer them with a yes, but you still get stopped out swetz well you just do swetz so what kent just because you place a stop doesn't mean you have to let it get hit swetz losses are part of trading vj Well I got some great ideas today, even though not a defiinite answer, as there is none :) swetz CANNOT be avoided stockseller swetz.... vj Thanks everyone :) swetz ::smile VJ stockseller I have a buddy who is right 7 times out of ten Joe_K VJ its like cooking Joe_K little this little that carnac vj, that slow death is to keep u in market. is part of the manipulation. stockseller he is one of my commodities brokers Joe_K Whatever YOU decide is best Joe_K for YOU vj right carnac swetz you guys know Mark Cook swetz ? stockseller yet he keeps complaining that he cant make money on tehmarket Joe_K y vj no vj what is he kent I have heard of Cook swetz Joe_K Trader swetz well, maybe his money management sucks SS stockseller The market is bad I shoulda coulda woulda etc swetz Mark Cook is a tremendous trader Art have to be up at 3:30 to go to work so see you all monday stockseller So I asked him a couple of questions kent my win/loss averages about 66%, but my trade management sucks Gary_Fullett yes swetz he still around swetz he will risk 4 to get 1 Kelley gn Art Art left. swetz sorry I mean risk 3 to get 1 swetz you may say, this guy will never make any money vj in stocks? swetz futures noob last I heard, Cook trades mostly OEX options based on TICK swetz but his winning % is over 80% swetz now I personally would never trade this way Joe_K There are exceptions where every trader will bend certain rules and guidlines vj That is what I do when I go to vegas Joe_K Bottom Line swetz but you cant argue with his success Joe_K And this works for all stockseller The bottom line was that when he was right those 7 times he would take small gains. But when he was wrong those 3 times he had tremendious losses that wiped out his gains plus plus plus Joe_K Ask yourself this BEFORE the TRADE swetz some traders may risk 1 to get 3 and may only be right 1/2 time Joe_K CAN I EAT the LOSS swetz still a winning ratio Joe_K ??? Joe_K If you can EAT the LOSS Joe_K Thats rule 1 swetz I try to do what Wyckoff suggests kent you need 42% winners and to take 2 dollars out for ever one you lose, if you do, you have a winning approach swetz try to be right 2/3 of time and try to get 3 reward for 1 point stop swetz right kent swetz right SS, his money management skills sucked carnac visualize the loss before it may occur. how does it feel? can u live w. it? Nick they were non -existant Joe_K That depends on Account size Joe_K too stockseller Exactly now were working on him taking bigger profits an dsmaller losses.... Gary_Fullett thats iomp sotkc Joe_K lol kent if your winning trades average $600, then you need to keep your losses to $300 or less to make money on averge Joe_K Kent ? Nick HEKLP Kent vj Kent? Joe_K Important Topic / rhonda ??? what Joe_K lol Kelley huh? kent that's imp stock stockseller but he needs parameters. Nick ty Kelley ty kent stock = stock seller kent yw rhonda wow keny yoo good!! kent :) rhonda too=yoo, lol kent LOL rhonda keny=kent rhonda geesh stockseller So wyckoff type of rules keep you within certain guidelines an d Joe_K You'll find 1 thing gen true the longer you survive Nick send him to Washington Joe_K The smarter you Should get Kelley lol Joe_K on Money kent lol Nick stockseller they prevent you from taking those big hits onbad trades Joe_K Yes SS stockseller bad trades will happen we learn from them Joe_K they do Joe_K Longs stop under Ice Joe_K Shorts stops above Creeks stockseller They are part of doing business stockseller and if you cant stomch them thenyou arent really trading Joe_K agree 100% stockseller You are mearly dreaming of somethingthat doesnt exist Gary_Fullett and watch for springs and upthrust stockseller traders take losses Nick you can learn from them if you have good record keeping kent that's why buying support is imp, you can enter at or just above support and place your stop below it with hopefully a small chance it will get hit, just place it so it shouldn't be taken out if you get a spring Nick a good trading diary stockseller Right on stockseller I learnt allot here...... Nick and constant review of the diary rhonda absolutely write it down Kelley yes, very helpful stockseller amd my own style has changed tremendously Joe_K cool stockseller But for me its the opposite of most of you. Joe_K Yes Nick I use Microsoft Outlook Calendar and copy every chart to it of all my trades Nick entry and exit, a great tool stockseller What I got out of Amos's classes, talking with Gary and Joe. swetz SS - Wyckoff suggested to buy 1/3 then another 1/3 then another 1/3 as the stock/future worked in your favor swetz On Pruden CD that Gary sales, Pruden swetz does an excellent job swetz of showing how this can be done Nick that too is a matter of choice swetz swetz agree Nick stockseller good concept swetz....I can explain what I do at another tim ewhen I take a big long term postion swetz I am just throwing out one alternative Nick Linda suggests going all in and scaling out swetz William O'Neil vj BTW, who is Linda? AMos also mentioned swetz would say buy 1/2 then 30% then 20% Joe_K LBR stockseller But now what I learnt is that I no longer have torisk tons of capital to make $$$ Nick Linda Bradford Raschke swetz I personally do 2/3 then 1/3 or 1/2, 1/2 swetz or 3/3 swetz lol kent I suck at adding, so I go in full bore and take 50% profits then move up stop carnac vj, check out website. stockseller Because my profits run higher. Gary_Fullett linda is very good Gary_Fullett trades wyckoff Nick lbr-group.com vj thanks Nick Joe_K Ok, also wanted to talk on Time Frames a tad Nick she trades Linda, which is Wyckoff.Taylor, Crabel and others stockseller Joe it's time to .... stockseller lol swetz she is one of the Market Wizards swetz she is in the 1st or 2nd book swetz I cannot remember which Gary_W I wonder if it depends on being a short-term (LBR) or position trader (WON). Raschke, who I believe is short-term goes all in and scales out. O'Neil who is a position trader, and generally holds for a few weeks or months (or longer) scales in and sells all at once rhonda I am just reading that book so good carnac plus connors. gets zero credit.lol. swetz WON is in the first book swetz William O'Neil Joe_K Believe it or not there are a few Market Wizzards right here Nick second book, New Market Wizards stockseller Like who Joe......besides Gary Nick who's a lizard Joe_K Gary is an absolute wealth of knowledge stockseller He is... stockseller thats true kent lol Nick Nick Gary was going to write a book, but it took him five years to type the first chapter so he quit Gary_W swetz, joe, Gary_F, NIck, etc. are tops kent sounds like David, has he finished his yet? kent lol Joe_K There are a few here who can write books Joe_K Not imp Joe_K Whats Imp Nick he is getting close Kent stockseller but he is that way because he takes teh time to apply what he learnt. Joe_K Is CAN you perform kent good :) Joe_K Consistantly vj :) Joe_K And Make Bank Nick not like I use to Joe, just ask my wife Joe_K While taking hits that are kept to a minimum Joe_K This is the essense Joe_K For Success Joe_K Keep hits small vj LOL nick Joe_K Survival Joe_K Defensive Offense Joe_K Def first Nick absolutely Joe_K I wanted to talk a bit on Time Frames Joe_K And where Joe_K I think some may misunderstand Nick we are out of time joe Nick just kidding swetz lol Nick Kelley lol Nick start with 240 minute chart Joe_K Last night Amos said " You dont need lower time frames " Joe_K They are noise Joe_K Ect Joe_K Depends on the trader Nick Ect=Etc swetz lol Nick rhonda lol Joe_K If your a Day or Swing trader kent :) Joe_K You Must use them Joe_K Lower Bars Joe_K If your position Only carnac depends also if smaller is going into higher time frame support. Joe_K You dont have too Joe_K Most in here Joe_K Are DAY Joe_K SWING traders Joe_K I know Joe_K I watch Joe_K So it is very imp Joe_K To use ALL Bars Joe_K I traded with Linda Joe_K 3 months Joe_K And She uses them all Joe_K as well Gary_Fullett good Joe_K If your stops are catered to your Trade Joe_K I.E. Joe_K 60 min Bar Joe_K Say stop is $350 Joe_K or less Joe_K You dont turn that into a Weekly trade Joe_K If it runs Joe_K In your fav warren left. Joe_K You LOCK in Joe_K Trading the Near Term warren joined. Joe_K Is for the Pros Joe_K ONLY Joe_K But most are tossed into Joe_K this realm Joe_K Because of Account Size Joe_K And its a mess Joe_K If you dont understand Joe_K This style Joe_K of trading Joe_K It can Churn Joe_K YOU Joe_K Out of the game Joe_K In a heart beat Joe_K Your stuff has to be wired Tight Joe_K Completelety Joe_K Linda Joe_K for instance Joe_K May get a set up Joe_K Similar Joe_K To a Thrust Joe_K It can be long 3 SnP at 1445.25 Joe_K Vol enters Joe_K 8:31 am Joe_K Snp BAM Joe_K trades 1448.5 Joe_K OUT Joe_K Totally diff ballgame Joe_K Volatility Joe_K Set ups Joe_K Pattern recognition Joe_K Tons of set ups Joe_K There is NO time Joe_K To go to Chalk board Joe_K Let me see Do I want to risk 2% Joe_K 1% Joe_K Maybe Joe_K Forget IT Joe_K Your not ready for the Near Term Joe_K Your a Body Bag Joe_K And you will lose Joe_K it all Joe_K May take 1 day 3 weeks 2 years Joe_K Point is this Joe_K Learn First Joe_K Then Trade Joe_K Do your prep Joe_K Night Prior Joe_K You know the TR Joe_K You are prepared Joe_K To do 1 thing Joe_K and ONLY 1 Joe_K REACT Joe_K Price Reacts carnac what if linda's trade went south after entry? taking 3 pts. what risking? Joe_K YOU react Joe_K as well Joe_K Just a diff game guys Joe_K You have to understand this Joe_K Same with grains Joe_K You go in there every day Joe_K risking 1-2 cents Joe_K Your gonna lose Joe_K This game Joe_K to Locals Joe_K Questions Joe_K Comments ? Joe_K Swetz 30 min left Joe_K If you want some time swetz lol Joe, you doing good Joe, I enjoy listening to you Joe_K lol Gary_Fullett well its good stuff and important Joe_K Questions then ? Joe_K Anyone Joe_K On things talked about this week Joe_K Gary soilguy Joe could you tell us how you would approach beans here as we come up against creek on the weekly? Joe_K Watch Joe_K Best approach I know Joe_K When one is asking another DaveM joined. Joe_K What they would do Joe_K Watch Joe_K Because your not seeing something juicy yet Joe_K Let it set up Joe_K again Nick beans are in an uptrend and on the daily it appears to be absortion, so just watch as Joe said Joe_K Yep Joe_K Tricky area Nick a short would be risky here Joe_K Rem ya got all year left too Joe_K to trade em Joe_K USDA Joe_K tom ? Kelley y soilguy tyes s Joe_K Corn tested Creek Joe_K 92 Joe_K Reacted ok Joe_K But still under 405 Joe_K Ify Joe_K Meal absorbing Joe_K Nicely Joe_K Wheat trying to bounce Joe_K Nothing Suckulant right here Joe_K just yet Joe_K Let em breath Joe_K a tad Joe_K Set ups will clarify Joe_K again Joe_K Stocks Joe_K Currencies Joe_K Many are trying to turn soilguy patience is where I need work Joe_K Softs Joe_K Guys thats imp Joe_K too rhonda succulent=suckulant Joe_K Watching Joe_K Yes we want $ Joe_K But truthfully Joe_K I may watch 1,000 Joe_K hours Joe_K trade 5 min Kelley lol Joe_K Most times Im watching kent still Feb, typically get a break in Feb, but market hasn't been typical for a while, lol Joe_K Eternal boredom Joe_K Until its time Joe_K To step in the ring Joe_K again Joe_K But if you do that Gary_Fullett well we rallied in ahrvest Joe_K Youll save money Gary_Fullett so what does that trell ya Joe_K too Joe_K Strength Joe_K too me Gary carnac harvest Joe_K But now your lofty and kinda Do we Mega rally or Feb Break kent tells me not to expect the typical feb break Joe_K Kinda thoughts Gary_Fullett it was strnghth Gary_Fullett and micheal mentioned Joe_K Corn aint cheap at 400 Joe_K lol Gary_Fullett that would eb strong till end of yr he was reight Kelley who? Joe_K I think watching Joe_K ok Joe_K But soilguy thanks Joe_K Softs Joe_K may get interesting Joe_K real soon too Joe_K So scan Joe_K around Joe_K too Joe_K But Grains Joe_K Imp juncture Joe_K Does Corn correct Joe_K Then re extend Joe_K Or Extend now Joe_K Creek imp Joe_K 392-380 Joe_K We dont know Joe_K But in gen Joe_K Longer shes over Creek Joe_K Slow chop retest Joe_K Is Bullish scott joined. Joe_K BUT you need good reaction Joe_K Back over 405 Joe_K to get interesting Joe_K So lets watch Joe_K and see soilguy cotton will have its day too Joe_K How this response goes Joe_K Yep Joe_K CT interesting Joe_K juncture Joe_K Coffee Joe_K Sug Joe_K lots Joe_K Yen stockseller what about meal Joe it's @117.10? Joe_K CD Joe_K lol soilguy lumber Joe_K I think 220-223 Joe_K Meal Joe_K should see Gary_Fullett 21710 Joe_K Its absorbing Joe_K Every day stockseller sorry yes 217.10 Joe_K Holding gains Joe_K Like a Blob stockseller but it's out ofwhack with corn Joe_K advancing Joe_K slowly stockseller ratio Joe_K Yes it is Joe_K Carnac ? Joe_K comments Joe_K Carnac good with grains too Joe_K Just be cool Joe_K Near term Gary_Fullett the ratios are out the wondow stockseller wondow? stockseller youmeanwindow Joe_K I think Meal should get there soon Joe_K 211.80-209.70 Ice Gary_Fullett the gmae shave changed Gary_Fullett whats interesting Joe_K 217-220-223 Res Gary_Fullett remebr when beans went to 1`060 stockseller Im shorting then joe! Gary_Fullett the story died Gary_Fullett at trhe highs Joe_K lol Joe_K SS you behave Gary_Fullett now the market is maitianing the bullishness carnac ty. some good talk. gn. Joe_K lol carnac left. stockseller Sorry I'll shut up stockseller I just shorted it! stockseller for a scalp Joe_K lol kent the games have changed Gary_Fullett it has kent Gary_Fullett n alot of degrees Gary_Fullett yes... Joe_K I am watching Coffee closely 114.90-112 stockseller Gary but within the bulls are teh dips... Joe_K Cotton 5190-5150 kent maitianing = maintaining rhonda left. stockseller and thats where the stop losses come into play.... scott left. stockseller where they should be placed Joe_K Gary you think Yen ok ? Joe_K Trickly Joe_K Cause shes coming from weakness kent watch out for the G7 this weekend Joe_K Hmm Joe_K good point stockseller Joe keep on trucking. kent if they indicate they are ok with yen weakness, then it will continue to trade lower stockseller report tomorrow Joe_K Yep JimC left. stockseller Focus Joe_K Stocks though Metals Nick past my bedtime, g'nite all Joe_K Watch Joe_K em Joe_K Ok Nick stockseller Nite Nick Kelley gn Nick Joe_K Many are at Crest areas Joe_K Grains Nick left. stockseller Silver is very interesting..... Gary_Fullett 1400 area imp there kent if they come out saying that the yen is undervalued or that the yen needs to reflect Japan's economy, then look for a short covering rally Joe_K left. Joe_K joined. Joe_K A time to be careful stockseller Joe i sent you a report this a.m and they talked about silver Joe_K And a time to be coy Joe_K Soon they will open back up Gary_Fullett thats the verticlas supply area Joe_K Floodgates Joe_K :) stockseller did you have a chance to read it? Joe_K And us Vultures will be singing like larks kent I would not have any yen trade on until the G7 concludes, could get pretty volitile Joe_K Thanks Stockseller Joe_K I will read tonight brandon left. Gary_Fullett well it prob wll g 7 Gary_Fullett but set up says can be long Joe_K Gary stockseller You may be shocked by what you read but remember that the big funds have different approaches to trading Joe_K Looked like it Sprang Joe_K Weekly kent my bias is towards the long side of yen, but could be dangerous Joe_K and Daily Gary_Fullett yes Joe_K today Joe_K lol Joe_K 2 Springs Gary_Fullett the true area to get above is 8415 Joe_K That close Joe_K Kinda weird Joe_K StockSeller kent just remember, all time high number of shorts reported in yen for the last 3 weeks in a roll Joe_K You see CD strength ? stockseller 14 in silver is important..... Joe_K SS kent row kent lol stockseller but 20.00 can happen too. Joe_K StockSeller you see CD strength or rebound soon ? stockseller Strength..... vj Got to go. Enjoyed todays discussion :). GN stockseller as do teh big boys Joe_K cool Joe_K TY kent gn VJ Kelley gn vj stockseller according to my guys and the COT reports! vj gn all Joe_K Guys in closing vj left. Joe_K Be cool Joe_K Watch these zones stockseller again that doesnt always mean much! Joe_K We will comment during day Joe_K too Joe_K Please understand this too Joe_K Amos I may not agree with Joe_K All the time Gary_Fullett well 1400 is Joe_K But He is very smart Gary_Fullett the previous large break area Joe_K A Rare bird Joe_K But an attribute Gary_Fullett the purpose is Joe_K To this Site Gary_Fullett of thjis site is to help Joe_K yes Gary_Fullett so introcing new ideas is a good thing Gary_Fullett Not a bad thing Gary_Fullett we can agree to disagree Gary_Fullett but for some Gary_Fullett they may dioagree Gary_Fullett and they deserve to hear it out pat Don't tell Joe, but I think there area at least 2 rare birds on this site:) Joe_K lol Joe_K If you TRADE your a RARE breed soilguy You have both been a big help to me and I thank you immmensely kent lol Pat Joe_K :) Joe_K Traders are Nuts kent amen, lol Joe_K to begin with Joe_K :) kent just ask the wife, lol Kelley lol Joe_K But Just understand Joe_K Differences Joe_K Of Opinion Joe_K Are natural Joe_K in Trading Joe_K Ok ? stockseller Joe you a trader or a traitor? Joe_K lol JP ::smile kent have to find your own path to success Joe_K Yep Joe_K Over all Joe_K We have a TEAM Joe_K From HELL Joe_K Here kent agree Joe_K Realize that Joe_K 1,000 of years of experience Joe_K Combined Joe_K So soak it up Joe_K and use what you can Joe_K :) Gary_Fullett the only way u get beter is from exp Gary_Fullett markets will kick your but at time days weeks months kent have to last long enough too, lol Gary_Fullett but u fght and try to get beter Joe_K Without Gary None of this would have happened Gary_Fullett EVERYONE has draw downs Joe_K So Gary will always get special affinity Joe_K From me Joe_K Hes a GEM Gary_Fullett wel ty joe but its u all that make it not me Joe_K and a GIFT Gary_Fullett its evetyonme that com,es Joe_K yep Gary_Fullett even if they dont contribute Joe_K Everyone has a link Joe_K We like em all Joe_K Use what you like Joe_K I will see yas at CC bell Joe_K TY Gary Gary_Fullett if there is 1 thing a day u can learn Gary_Fullett its worth it Joe_K y Gary_Fullett so its all good Gary_Fullett ant questions? Gary_Fullett any Joe_K What is proper Ant hill depth ? kent nope Joe_K lol Gary_Fullett okay thankx u was a nice informal chat Kelley no q's, ty. Gary_Fullett see u tommorow soilguy ty both Gary_Fullett hank u all so much kent thanks gary, c ya's in the morning Gary_Fullett charts now night Gary_Fullett left.