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Once you master scalping it, though, you can easily afford the crack. :p

You think THAT'S scary? What if AAPL goes to infinity and BEYOND???

I think that's a good idea, Josh. I posted the same sort of advice on PO's journal a while back, but I was way wordier than Macho was with you, lol. I think posting charts showing technical setups is great. "Here's a big symmetrical triangle. If price does X, I'll be a buyer, if price does Y...

Very good stuff, Macho. I spent some time journaling while trading (which is "thinking while trading" but on paper, and I used a real pen and real paper to separate my clicking/trading self from my over-thinking self) and realized that every mistake I made (hesitation/chasing/missing a trade...

Snack, in keeping with the spirit of Elite Trader, please try to use more refined language similar to this: "...just hold your nose and BUY THE F*CKING THING and actually make some cash." :p

OK, who remembers when we're all chatting away and Banjo actually takes the time to type: "bbl, earthquake!" :eek: Or the time CF suddenly says, "Wow, I just made $15K!" (I think it was in less than 2 minutes)... :cool: Or the time I call a Colgate-Palmolive stock trade, "Short CL...

We have me, Willie, CF...(where's Hog, 1R, Banjo, AMT, Chiiiiiii...); let's start a chit-chat thread: "Reminiscences of the ET Trading Room" :p

Thanks for the chart, A! Is this the pattern you're seeing, too?

If they gap down after hours, it's a screaming buy :D

If price gaps against you, stops won't protect you. Stop orders are only active during regular trading hours so your stop will be triggered at the open and filled at whatever the market price allows at that point in time, which means a nice profitable position can be stopped out at a loss. I...

Triangle breakouts on volume are great setups, IMHO. I think you've laid a good foundation by choosing a setup with positive expectancy. Here's the root of your problem: Your trading plan is based on technical analysis and price action, yet you were reading market news and took a detour from...

The market broke out of a symmetrical triangle formation in late December and buyers took control beginning of this year. The breakout is currently holding up beautifully and an upper channel target/breakout level is in view with plenty of room to run yet. You can often make more money buying...

Dammit, Steve, all this time I thought you were calculating all this stuff in your head :p :p :p

Right, PA comes first, anything else on the chart is secondary. If stochs tell me that this 3rd push up in a trend on my 5-min chart is deep in overbought territory and I take my profit and there's a shallow pullback on the 1-min that doesn't even break the low of the last 1-min containment bar...

I use no indicators. Some believe that the 20-bar EMA is an indicator, but I use it as a mobile S/R level. Sure if it's rising, price is trending up, falling price is trending down, but you certainly don't need the EMA to tell you that; you can see trends right away if your chart time window...

If it makes you feel any better I let three perfectly reasonable 20 tick CL targets evaporate into nothing today by removing hard targets hoping for a break out of a channel. Then late in the day I locked in my @#$%-ing 20 ticks only to watch it finally break out of the channel and come within...

Interesting. During that 10 year period, do you by chance have stats for the average point rise for that 79% of the time and average point drop during the other 21% of the time? TIA...D

What critical elements does he miss? I've yet to find anything detrimental to my trading that wasn't covered quite thoroughly by Brooks.

Thanks for your kind words, OFX. I definitely posted my deepest trading "secrets" on this thread, fully illustrated :D The usual t/a with trend lines, channels, etc. is the basis of this thread, hence "A simple price action approach". Surely you know after studying Brooks, I couldn't just...

I think a few people are confusing reading charts bar by bar with trading charts bar by bar, which will definitely lead to overtrading and entering poor trades. Reading price charts bar by bar means reading the footprints of price in the context of the overall price action environment...