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So your rule is to not follow your own rules? Or any rules? Except for that one of course, don't follow rules?

To me discretionary means you sometimes don't follow your own rules. So I guess your rules just aren't good enough.

1. Exits. That's it actually.

No, I mean a single investment held long-term cannot match short-term trading. I don't know that any long-term asset classes consistently give double digits per year.

Its easy to work out if you know your win rate, your r:r and the frequency of your trades. e.g. win rate = 60% r: = 1:1.5 frequency = 1 trade/day (assume 240 trades/yr) Wins = 144 Losses = 96 Gross gained = +216 Gross lost = -96 Net gained = +120 Net % return = +50% (without compounding) I...

Being right (and being not wrong) is very important for some people, this is how we are all conditioned by education and professional career training and progression outside of trading. Its so strong that some traders will cut winners and take profits early and add to losers and widen...

If you've got enough money to move prices, then in that market yours IS the smart money - everyone who doesn't follow your money is going to lose theirs.

No arguments from me on your conclusions as to day-trading. What do you mean by "advanced" bars please?

Try making your reading active rather than passive. Draw up a standard template with labelled spaces indicating what you want to extract from each section, chapter and the book as a whole. Decide in advance what you want the content to do and keep a track of this as you go through the book...

Why didn't you set a buy order above today's high? Or above recent days' consolidation?

Dead right Carlos. I'm going to suggest the corollary of your points is that traders should abandon fixed profit targets, and add to winners.

Employment trends in the UK have been pulling in opposing directions for some years now if you would naturally wish to be employed in this middle sector. My experience is mostly public sector. Firstly, educational requirements for applicants in this tier have been increasing to the point where...

From a journalistic point of view, "Is the market rigged?" is a great question - sets up lots of debate, no easy quick answer, evidence for both viewpoints, some strongly held opinions apply. But in practice for traders - irrelevant. Just trade what you see, not what you think.

I will let you know when I have $100M. Though the thought occurs that if I find at that time I can live happily and comfortably on $1M a year income from my capital, why would I need to trade at all?

I love stories like this. Don't give your hard-earned money to professionals. Save, invest or trade but do it yourself.

That's competition. The capitalist way.

"chicks"? Who are you, Austin Powers?

Dividends are OK as long as they're not the tail wagging the dog. Recently failed UK form Carillion was apparently at one point recently borrowing money to pay dividends. But as for spending money on share buy-backs, that's just management admitting they can't think how to invest the money...

Dividend should be paid out of profits. High dividend is an indicator (though not conclusive evidence) of high profits, rising dividend of rising profits. Stock prices are completely irrelevant to the few people who have so much invested in dividend-paying shares that they will never need to...

That's fine, combining your two last posts, you use a plan that has definitely worked in the past (you don't use one that definitely failed in the past) but your version of the plan takes account of the possibility that it might not work so well in the future so you need to protect against...