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Those two prior swing highs you mention got taken out yesterday and then to a greater extent today - great reason number three by my count to get short; 1200 is from my experience greedy - the last two swing lows could not touch it. I'd just as soon not tempt fate and bank the coin. Just me...

I'm afraid that swing trading might be the last bastion of human traders; at the very least, it might keep us relevant versus the high speed bots. I think that's where the paradigm has been shifting to for the past couple decades.

Looks like the downtrend selloff started in July has indeed reversed. Mid term the market seems like it has been in a period of consolidation as part of a much longer term downtrend. IMHO from a swing trading perspective (a few weeks) your long could make sense. Long term you'd be swimming...

Yes, this is why I have cited Drummond Geometry repeatedly in this thread. It's more sorted out and systematic than your article. The foundation of Drummond is multiple time frames.

As I stated the confusion you see is what a market in a consolidation phase looks like. For more granularity look at the Daily chart I posted above. Also, consider Steidelmeyer's Market Profile - it's really a cracking way to look at market behavior.

GrantX, why not consider risking 1,320 here for a target of 1,225 ? It's kind of a classic set-up...

That's right. The master uptrend started in 2008 gets taken out in 2013; the master downtrend started in 2013 gets taken out in June of 2016 - and you are now in a consolidation period. As Steidelmeyer would put it: you are in a well defined control area. IMHO, this makes swing trading off of...

Higher highs and higher lows... so classic. Holds a trend line on the Weekly like a champ. Very shallow corrections - vintage accumulation pattern. Is it ZERO risk - of course not; what an asinine statement. Will it sell off ? Of course. Does anyone know exactly when ? Hell no.

There is a master trend, which comes from long term time frame studies, and then there are secondary and tertiary trends which define market corrections and retracements. The common element is the requirement to use always start out using the longer time frames for modeling first, and then...

New thread idea: how many new threads will Volente start before the S&P sells off for real and the long term trend started in 2009 gets taken out for reals. He's already started 3 since February 2017 - any guesses ?

Higher highs and higher lows... so classic. Holds a trend line on the Weekly like a champ. Very shallow corrections - vintage accumulation pattern.

To be fair the guys that I see that make it a career over the long haul have both cracking strategy and trade management - but your point is taken.

Well, strictly speaking, prudent risk management is NOT an "edge" per se. But it is a necessary component to successful trading and retaining capital that is certain. An "edge" is by widely known and accepted definition a tangible repeatable benefit which provides the central thesis for a...

If you have to be flat at each Trading session close, you are NOT a legitimate TREND trader. By necessity, you are also Trading retracements, corrections, and market consolidations. So few traders comprehend the time element in trend. The best references I can refer you to are Drummond Moving...

The best systems traders I've seen over the years have incredible discipline devoid of emotion. They're automatons in practice. And they have set both profit targets and stop-loss at the time of trade entry. That is a fact. And that's not an opinion. I have seen it time and time again - to...

It's too bad that the OP chose a really crappy title and a somewhat misplaced premise for the most under-appreciated and least well understood aspect of trading system strategy. You take a trade entry, and one of two things are going to happen: you stop loss, or you hit your profit target. It...

Comagnum, good stuff.

Clicked on your name and read through your posts... enough said. You certainly don't post anything of value and you act like a douche to most everybody.

There's another ET Member on another thread who has recently proclaimed that he wants to start a day trading only, flat-at-the-end-of-the-day hedge fund. I never responded to his post, but my guess is that many CTA's would ask WTF would you want to do that? You are going up directly against...