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Some day I'm gonna have the balls to just buy a level counter-trend. I mean, seriously what's the worst slippage my stop would produce if the level fails to hold? :eek:

The 87.44 seemed to hold temporarily, but not looking real strong here.

I've used that exit a lot. It's not quite as good as the "whoa, that's a lotta ticks!" exit.

Seems like a good entry to me. Good exit too :)

I have 87.44 as a next level, but that could easily break with a lot of space below. ADD: The 1-min chart's been a day trader's ATM machine today.

Nice, Schiz. We've got some airspace below now, and the old trend line that broke not long ago before Egypt.

Well, that's what I get for skimming instead of reading the whole book. FWIW, upper Keltner overshoots generally retrace to the 20-day MA. GL all.

Who's getting killed on this thread? I check in and see some folks taking tight stop losses and a lot of folks making profits :confused:

The channel off 11/30/10-01/31/11 lows invites a target of 1325-1330. Upper Keltner just now overshot. OK, back to oil... :D

Once an ATS has been proven stable in terms of doing what it's programmed to do without glitches, how long do you recommend testing it in simulated accounts before going live? If this has already been answered somewhere please link me up, thx.

The entry you noted at the break of the white line is my favorite price action setup. The hammer is a clear signal to add to the long or re-enter if you took profits on the push. A green hammer in that environment is a pure signal not needing additional confirmation, IMO, but I generally enter...

Listen, Kiddo, some of us reading this thread have food or drink in their mouths and attachments like this deserve a "spew" warning to protect our gear :p I think he needs to just teach the baby to trade. That E*Trade baby seems to have it under control...

This is what I have done as well. I used to hesitate to trade many of my setups because of "over-thinking" the trade and imagining the potential loss instead of the potential profit (the invisible hand). After enough experience and confirmation of my edge, now putting on a trade when one of my...

The invisible hand is the part of the mind that's programmed to protect us from, and in, dangerous situations. We see a setup that fits our criteria, prepare to put on the trade, and the invisible hand senses possible danger (potential loss) and holds up a finger and signals "Wait, did you...

When I was screening and trading multiple stocks, my head often would explode and if you ever saw the (absolutely excellent) movie "The Fantastic Mr. Fox" my eyes looked like Kylie's spirals if, after the market close, I was asked something complex such as, "I'm going to the store, do you want...

Matcha, for me it felt as if it was taking forever to get past the stage where I wasn't constantly overthinking, hesitating, thinking of the potential loss instead of the potential profit and moving my stop loss too quickly, then chasing the trade that would've been perfect and ending up with...

That journal encompassed some of the blood, sweat, and tears of learning the business by the seat of your pants. I had an experienced mentor trying his darnedest to talk sense into my head, but I'm a stubborn one and had to learn things the hard way on my own and then finally admit, "Mom and Dad...

Sam, you have one of the best educational journals here; what a fantastic learning opportunity you've created for students of pure technical price action trading and at no charge. :)

Trading 1 contract CL with a $50K account and a maximum stop loss on each trade of $150, means that I have very little of my account at risk at any moment in time. My trades last from 10 seconds to sometimes nearly an hour, so time-wise my exposure is rather limited as well. In the even of a...

Frank, you are spot on there. When I started trading CL I did the same thing. When you prepare your order to put on the trade, KNOW in advance your levels. Have all S/R levels, minor and major, as well as levels where S could become R (and vice versa) in a trend noted in writing and in front of...