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Yes, I did, and I use it often. (I'm not supposed to be watching the DOM, though, that's not part of my plan!) :D

This quest is depriving you of success as a trader. Although I don't know your trading plan, I'm fairly certain that if you apply your rules during each trading session, the end result is a profitable session the vast majority of the time (possibly every day). The quest for less risk and more...

I'm curious how Level 2 data can be useful at all in day trading considering orders can be hidden/iceberg, and can be pulled instantly as well. I've seen large size resting at a level and in instances where the size is fully absorbed I've seen support or resistance established at that level...

The concept is the same. Once certain lines in the sand are crossed, smart traders and buy/sell programs pull or move orders to the next key level in line to be tested/defended. The distance between the line in the sand and the next level in line to be defended is what I call "airspace" and...

The most powerful information to be found in this video is in Lakai's description below it: "Contrary to what most people think, markets drop due to no bid. Not massive selling. Knowing things like this can change the way you look at the market and understand it better." This is one of those...

Uh...this seems to answer the "is it real or sim" question. o_O

What he said! Everyone I've worked with (including myself) who was drilling down to 1-min or similar tick-based bar intervals, was focusing on finding a way to use the smallest stop loss and feel a sense of comfort and even certainty on individual trades. At its best, this mindset can lead to...

I especially enjoyed the "1-min" charts. You guys trading off that are amazing. :cool:

I look for a trend line breakout pullback (reversal signal) and off that a higher high (longs) or lower low (shorts). At that point I assume price will seek a key level in the direction of the initial TL breakout. If you have no idea how to enter when this happens, drill down to a 1-min chart...

The trend is the easiest money in the world for day traders. There's usually a trending move at least once a day. Just wait for that "30% of the time" and do the opposite of what you "feel" you should be doing (catching a reversal because price has run too far). In the words of Al Brooks: "If...

Slight modification of Auto's post for me: I use past price action to predict the likelihood of future moves. I use TA to determine with a good degree of probability where buyers or sellers will come, before they do. I use current price action to enter trades.

Two thumbs up! Speaking of edge, I'd like to take a moment here to thank all the traders who try to pick tops/bottoms in strong trends. Your liquidity just about guarantees a fill on my limit orders every time. :cool:

I love this blog post from Cornix quite some time ago: "With regard to the psychological training of professional athletes, particularly professional shooters: To limit stress (which is a fatal factor for any serious competition), professional shooters give themselves the right to make...

I do think such a thread would be useful as long as the hindsight analysis is fair. Just because a trade ended up unprofitable doesn't necessarily mean the trader misread the price action. I've provided hindsight analyses for people and very often my response to a losing trade was along the...

This reminded me of the one time my son expressed interest in trading. One of his co-workers traded Forex and one evening when he came over he helped my son set up a practice account with Oanda. So there we were looking at a chart and a short time prior there had been a huge upside breakout and...

Losses aren't a problem because all solid trading methods will incur losses. The problem is when a trader sees a pattern (price bars or indicators or both) and develops a bias such as "There's no way price will ever get to THAT level, so I can just short here and not worry about a stop loss."...

Yes, absolutely. Same with indicators. There is no pattern or indicator that I know of which, in isolation, provides positive expectancy. In certain context, however, those same patterns, indicators, even individual price bars, offer very high probability trade setups.

I mean without looking at the patterns in larger context and/or without waiting for the behavior of price to confirm the more likely direction to follow.

Pure price action trumped both stochastics and internal double top/"failed breakout" signals at the time of the initial chart posting. It took me a long time to overcome my habit of trading based on overbought/oversold and common technical analysis "patterns" in isolation (double top/double...

I've had extensive communication with a few traders who were floor traders or prop traders and whose particular methods no longer provided an edge due to changing market conditions. They approached me for information about using technical analysis to trade and I shared my TA/PA knowledge with...