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The book is brilliant, I re-read it regularly, but it's quite a challenge for beginners.

Good to hear, Neke! I've spent over 30 minutes waiting for a confirmed counter-trend trade (assuming I'm not stopped out for a loss) to produce a 20-tick profit, then watched 20 ticks fall into my lap in 14 seconds buying a break of a previous high in a defined uptrend. It's by far more...

You're welcome and, in my humble opinion, no amount of money spent on learning will provide the knowledge you'll gain from following the steps I outlined for you, which cost about $60 for books, but at least a 1000 hours of your time. You may be thinking, "Yes, but if I pay a mentor or...

From the original Mark Brown web link posted: "If one item were to be singled out as the most detrimental to the project, it would have to be that there were preconceived ideas of what a successful trading system should look like. The computer was assumed to be in error, time and time again...

Siva, IMHO you'd do best to prepare yourself to be mentored. One way to prepare yourself is to define what you want to trade and the time frame you want to trade, then embark on defining high probability setups. I posted similar to this before: Here is a site with several high probability...

PO, you keep analyzing the market conditions at a given point in time and using phrases like "probably will", "often results in", "most likely", "less likely", "should", "could", etc. Anyone with some basic analytical experience can look at the chart leading up to the hard right edge and...

I extracted this phrase because I have no idea what it means: You don't copy price action; you allow price action to trigger entry into a trade, and to remove you from a trade that no longer offers you the risk:reward opportunity necessary to fulfill the goals of your trading plan in your...

Thanks Win, same from us to you guys! OK, I'm gonna need a cold shower now...:p Win, you asked for it: Hey ET! TJ Winston is pure HFT scum!!! :D :D

Mr. W, good to see your voice! :p This paragraph is awesome, made me want to read the whole book. Wishing you and your family a wonderful Christmas season!

Come on, guys, I was trying to be funny, you know, have a little humorous repartee with Gubinec. Jeez, it was all nonsense. Except the resources. They're really good :)

Sam, thanks for your kind words. I have no idea who the Stocktwittering NoDoji is, nor which came first, me or the twitterer, but that person isn't me. Unless of course, s/he's generating massive wealth for all his/her followers. If that's the case, then yes it's me and I'm happy to be of...

Sorry, should've highlighted and underlined this part of my post: :p :p

Gub, this is easily avoided by quickly canceling the stop order if price gets too close to it. In the event Alphav chooses a swing trading time frame, I recommend automating the stop cancellation process because the whole reason for swing trading is to avoid having to deal with all that...

In response to the thread's question, you can trade by anything alone as long as you do your research, create a profitable trading plan based on that research, then follow the plan. In response to GAZ, if you trade pure price action, how do you go about finding out what's causing buyers to...

You want to be sure to sell the dream with gusto: BAD: "The SavageMP5 runs 5 algorithms, detects market movements, and does pretty well." AVERAGE: "The SavageMP5 Trading System: - Positions held no longer than 5 mins - No overnight positions - Scalable to any markets - Fully...

As Volente said, an average win rate is determined within the framework of a risk:reward ratio, and as you point out above, the account size/time window are also important. In a fair coin toss (the coin is balanced and released the same way every time), let's say you've determined through...

GF, I believe Muffin is the real deal and we could follow her and make it BIG if only J would reveal how to interpret whether she's signaling a "buy" or a "sell". :p Will do! :cool:

If you've done the research necessary to develop a solid business plan, you have data demonstrating the average win rate of a given setup (or selection of setups) over time and through varying market conditions based on various R:R ratios. Your research may find, for example, that with Setup...

From my limited observation of other traders and my own early trading experiences, the highest win rates occur when a reversion-to-mean (counter-trend) style is combined with quite loose money management rules (risk:reward of 3:1 or greater, sometimes much greater). Because the win rate can...

Let's not pollute this thread with redundancy and pedantic erudition. emg has already covered the above concepts with brilliant simplicity in the ES Journal: