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My many years of stats are based on a 5-min chart with a 1-min cross-reference for entries and a 6-8 hour lookback window of which to draw trend lines when applicable (continuous thru the overnight session into RTH because I trade futures; if I traded stocks I'd look at the previous day)...

This chart pattern offers a full array of technical price action trades that produce a profit equal to the maximum necessary risk more often than not. (If you're looking for something that works almost all the time, ditch trading and get a job where other people pay you on regular basis.) For...

Cutting losses quickly can be an account killer when handled incorrectly. I believe it's very important to know in advance the price level at which a trade idea would be invalidated. If you're not comfortable with a stop loss placed at that price level, do not put on the trade because discomfort...

I, too, prefer "confirmation", meaning I will trail a buy/sell stop using the chart with the shorter bar interval (1-min for me) to initiate a trade when price reaches a key level (such as E). If I perceive the risk to be too great, such as if the 1-min bar that closes with a high around price...

One of the best concepts I learned from Al Brooks is to take advantage of counter-trend traders stops. I've often seen posts on ET about people not knowing how to enter in a strong trend. In fact it's really easy. Let's say there's a strong up trend as seen on a 5-min chart, very shallow...

I prefer to cut losers quickly, so in the pattern shown, if price appeared to find resistance at that previous support level, I won't give it much more room than that. If price started back down off that E level and then turned back up through the level at E, I would expect shorts' stops to...

Tactic 1) Once D occurs, you can place a limit sell order at B. This is an anticipatory entry method, meaning you anticipate that previous support (B) in the uptrend channel will become resistance after the lower trend line breaks with some conviction. Tactic 2) Once D occurs, you wait for a...

One of my all-time faves :cool:

I still use the DOM. Tried trading directly on the chart and didn't like it at all. My most profitable trading always happened in the first 2-3 hours of the RTH session. I really lose focus after that.

Here are two examples of my "pet bars": 1mcpfcbL - 1-min continuation pattern fade containment bar low 1mssmonf - 1-min shooting star in the middle of nowhere fade EDIT: I'll elaborate a bit. The 1st one means a previous 5-min signal is still in effect with no reversal signal yet occurring...

The 5-min chart is my "go-to" chart. All my initial signals come from the 5-min chart. I only use the 1-min chart to choose entry prices to position myself in the direction of the latest valid signal that the 5-min chart provided me. I cut back because my primary trading time window is during...

I've never heard anyone say this before. In the processing of automating I ended up giving each price bar a name and contained within the name of each price bar are many things, such that if someone were to read the name of a price bar to me, I could draw a chart showing the price action that...

The problems I've had regarding impatience, ego, beliefs, difficulty with accepting losses, and so on seemed insurmountable at times. I no longer trade full time. Too many other irons in the fire. :cool:

What still makes my jaw drop (usually on a daily basis) is a certain little counter-intuitive setup in a new trend or strong established trend. At its core, it's basically buying (or selling in a down trend) at the point that feels like the trend is reversing. It's hitting that mouse button on...

The forex market was not geared to wrong side you. Your "ego issues" and impatience result in poor trading decisions and the negative results probably cause you to feel that the market is purposefully trying to wrong side you. As a beginner I was a counter-trend trader (expecting a reversal...

I trade CL and stock index futures and I frequently get filled at high/low ticks of a price turn. However, I place my orders at levels where there's likely to be a pool of liquidity (such as a lot of stop orders getting triggered). The only time I fail to get limit orders filled at high/low...

I have no idea what size people trade. I've never traded more than 6 lots.

Only trade through the report if you're comfortable with 40-50 ticks of slippage in a stop loss. :D

Stops greater than 10 ticks on CL are rarely needed for intraday trading based on a 5-min chart or equivalent if you study the CL price action carefully and develop a plan around certain levels. And if you're trading range extremes (wide range, not narrow range consolidation in a trend or trend...

I haven't used a 20-point stop in CL for years. My stops are between 2 and 15 ticks depending on the setup. Having a stop below/above a previous low/high of the day implies a counter-trend trade, which isn't my style of trading.