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It may not be poor pattern recognition so much as wrong pattern recognition. Once you learn to pick positive expectancy setups off an after-the-fact static chart, you then have to learn to recognize them at the right edge of a real-time chart. It's very different. It's really easy to see the...

I'm curious why you can't follow their rules. Is it because their rules are not well-defined or is it because you can't bring yourself to trade their rules? I've taught my core method to quite a few traders and they can't duplicate the success because they don't trade every setup defined by...

Back to the chart I posted yesterday (which so far nobody cared to comment on or perhaps nobody saw a potential trade setup there). I will play the part of my five hypothetical technical price action traders and describe the potential trades the traditional technical price action trader might...

Brother Surf, no sarcasm there! You can definitely pick a side based on any chart, but I will say that some price setups are much more inviting to me than others due to the likely survivable R:R parameters. The chart you posted earlier wasn't too bad, though I would've wanted to be positioned...

Can you provide a link to the studies demonstrating that traditional concepts do not work, and demonstrating that a technical price action trader using traditional technical price action concepts has to constantly change to maintain an edge? Also, please define "constantly" with regard to an...

Brother Surf, I don't open document attachments. Can you post the chart so we can see it on the thread? P.S. Any chart can be traded :D

Here is a well-organized resource for understanding the psychology behind candlestick price patterns: http://www.daytradingcoach.com/daytrading-candlestick-course.htm ...and common P/A trading patterns with positive expectancy...

Five people interpreting a chart differently doesn't invalidate technical price action trading. Each trader may have different objectives. For example, among day traders, a micro-scalper has a different objective than a price swing scalper (who may trade both directions even in certain types of...

I had trouble for a while because of that last part. My solution was to cultivate a separate "trading personality". This personality pulls me aside and says to me in a kind and loving voice, "When I take control of your hand to place this order, just look away for a few seconds and it won't hurt...

I understand this point you guys are making, but we're not machines. We won't "randomly" pick and choose using a coin flip. We have a tendency to personify price action and choose unwisely. I have two solid years of precision price action scalping under my belt and after all this time, the best...

Hi Steve! It seems you're comparing two different things here: the random distribution of a 50/50 odds situation (coin toss) and a positive expectancy system (odds greater than 50%). I would think that if your overall profitability is based on the average win rate of trading all valid...

Thank you for this stunning example of TA at its finest! It was indeed very, very bad, but thanks to the powerful nature of a rare and technically foreboding chart pattern, the alert investor was able to take profits and reverse short just as the SPY initiated a 70 point freefall from the...

Bro BSAM, thanks much for your kind words. You nailed it, the charts/patterns are a compass! They do predict for me which direction to trade :) But they do not predict where price will go. That part of it cannot never be predicted with certainty. An aspiring trader once asked me several...

I think I finally understand what you're arguing and you are correct! Charts are absolutely not predictive. Nothing is predictive. No chart pattern or indicator or combination of patterns/indicators or news release or massive depth/height to which price has dropped/risen can predict with...

Bros BSAM & Surf, as Tonkadad pointed out earlier, I was indeed dripping with sarcasm and I absolutely do use the 5m chart....... .......but I've been using the....... (please be sure there's a defibrillator nearby before continuing) .......1m chart more than ever over the past several...

Ditch the gold; you can't eat it and it's way too pricey to use as ammo.

I'm currently working with a newbie who I confirmed was clueless about PA/TA. He is very young, too, so I'm pretty sure he doesn't have a whole lot of trading experience. Once I've completed the Vulcan Mind Meld and he's had a couple months of live day trading experience using the 5m time...

Is it true? Can you absolutely know it's true? How do you react, what happens, when you believe that thought? Who would you be without the thought? - Byron Katie If you are a profitable trader, why are you arguing? If you aren't a profitable trader, why are you arguing?

Why sell? Buy! Even though it's all manipulated and the fundamental story is rather sad, the dollars you extract from this "fake rally" by buying the dips and selling the new highs are accepted everywhere regular cash is accepted! :)

F11, et. al....is that ya'll???