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All right, Mate, I confess:

Hi Ian, You're welcome! I thank Bighog, Geez, and Al Brooks for turning on the lights for me. It took about another year before I removed my blindfold, but sure enough, when I did, there was indeed light! Amazing to watch the bars print, and feel the joy of patience finally paying off...

I am blessed with excellent pattern recognition skills. In reading a recent conversation between Xspurt and Pigsky in the “Simplicity in TA” thread, a pattern suddenly jumped out at me, a pattern that’s taken some time to unfold, yet it appears quite solid and has led me to hypothesize how...

In my final post, I have a special message for Jeff & Jerry, two traders I’ve spent several months with on Skype, (not quite as much time as with my initial “plan development” crew, but pretty close): Both of you have a Holy Grail in your hands and ruby slippers on your feet. Just...

The most important things to consider once you have a technical strategy that offers a statistical edge ("clear good patterns") are: 1. Determining the potential loss per lot (single contract or 100 shares) traded when placing a stop loss at the price level where the setup confirms failure...

I would like to leave ET with my method for developing a trading plan. I believe I posted this stuff on ET before, but it’s such a key to success that I want it to be easy to find here: I chose my preferred time frame, then studied charts at length until I found patterns X that resulted in...

February 19th marked the 4-year anniversary of my first trade. When I decided to try day trading, I joined Elite Trader, practiced day trading on paper for a while, then joined ET’s chat room and began trading live. I documented a good portion of my journey here (NoDoji’s Day Trading Log) as...

I use protective stops in case setups fail. The setups I trade reach a minimum profit target more often than not (60% or more of the time). There is no way to predict where price will go with certainty.

Good afternoon technical wizards! Did everyone calculate their measured move target today for the 2nd leg up off lows (which was exceeded by exactly 1 tick (HOD)? :cool: IF there's a 3rd one, tgt 108.73, never know with CL...

107.21 is the 5-min LTL, was hoping for a drop to it on earlier short, but ended up scalping .20 when it found S around the EMA. Good trading to all, done for at least a few hours...

You give me too much credit, I doubt I would've noted an old level like that. However, the measured move target for the next leg down (after the post-inventory low printed and price pulled back toward the 20EMA) was 104.77. The quick second test of .84 and failure to break further was indeed a...

And I will "third" that opinion. I too got overly involved in the 1-min chart a while back and it was just too stressful.

The "order flow analysis" was meant to be a joke, hence the description ORDER FLOW: DOWN :p I trade pure price action, that reveals the order flow for me. If price is trending down, no matter how strong the last drop, I'll continue to trade to the short side until a key support level is...

Avoiding the trade altogether is also a winner's strategy :)

By following the herd (the big players who move price significantly), I catch a very nice second leg of profit. No vodka necessary :cool: So ask yourself what you would've done if you returned from a break to see the price action on the first chart I posted. Did it seem difficult to...

As usual, I reach the point I'm chewing my leg off during consolidation and step away for lunch. I return to see I missed a fantastic move just moments after I left, which was signaled beautifully and resulted in a move just shy of a full point ($1000/car) from the confirmed entry trigger...

I'd love someone on the "inside" to explain exactly how "they" do all this stuff. I can understand head fakes during low volume consolidation (lunchtime and after hours), but during active RTH, you've got so many large professional market participants (mutual fund managers, hedge fund and...

So you average up when a trade is going in your favor? Or do you mean that you trade larger on your best setups? I trade the same size on most setups because they're all good setups. When I put on a more experimental trade (such as placing a limit order at a level that usually holds as S...

Symmetrical triangle is narrowing, my last trade just 8 ticks. 1-min, 5-min and 60-min EMA's all flat. That's my signal to step away from my desk...

This is why you can't believe it's possible to generate at least $400/day trading a single CL contract (which requires less than $5K to trade intraday), because your method has very high risk and so requires more seed capital to trade it without blowing up first. My scalping method takes...