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You're really sounding like a tard now. Yes, it takes only 2 points to connect the dots. BUT YOU WON'T KNOW WHERE THE SECOND POINT IS UNTIL IT BECOMES CLEAR AFTER THE FACT. That is, you won't know if the second point has actiually reached the top or the bottom of the channel (until in hindsight)...

I wasn't paying much attention on that last trade, but that last minute selloff was definitely a surprise attack. Is it news related?

Out BE

Flip long 4406 + 4

Short 4410

In another word, what he meant by "when I've looked at the ES on those shorter timeframes, TLs, Channels and SnR are clearly visible" was that they were visible in HINDSIGHT.

Most noobs fail because they get married to their position. Just look at all these folks who get all angry when someone suggests the market is about to reverse. Noobs. See the market from both angles and learn how to "flip" trades, when necessary. :sneaky:

Padu, it's hard to follow your trades. Do us all a favor and write both your entry price, stop price and, if possible, exit price like shown below. Long 4364 Stop 4361 Target 4367 Short 4364 Stop 4367 Target 4360

I notice you were trading 1 lot earlier but now you're trading 10 lots? :rolleyes: Just because you're on a sim, you consider this as play money? Dude, get real. Keep yourself accountable and set a strict goal for yourself. For example, you should only trade 1 lot until you reach $20K and then 2...

I hear ya. There are in fact many false triggers. However, I have been through many bear markets to know that not all of them will be false. As a result, your trading career will effectively be over. Think of it this way. Even if you get stopped out many times, as long as you're able to keep...

Did you say "easy money"? Energy futures (crude, nat gas, etc) are probably the most volatile market in the futures category. If you're not already familiar with these futures, don't even bother. Just go with one of these ETFs: United States Oil Fund LP: (NYSE Arca: USO) United States Brent Oil...

Well, allow me to play the devil's advocate. I think there's a good chance we go down in the near term.

This is like HINDSIGHT ANALYSIS, only in reverse.

Good for you. Unfortunately, for the other 95% of the day traders, they're not so lucky to even get a free Big Mac, let alone $1 menu for free.

Exception being that you're trading during a liquidity crisis and the market is nosediving with the VIX going through the roof (circa 2008). In that case, having no stop loss will effectively blow up your account because price ain't coming back up for days, if not weeks.

Yes I have. Just look at the screenshots of the video below and you would see that there are places where you could have lost a ton of money simply following his logic (firstpic). Obviously, this Youtuber is only looking at places that confirm his existing belief (second pic). Thin-faced...

This is not that hard concept to understand. In layman's term, it just means a stock will decline faster than it can rise. As a trader, I personally experienced 3 bear markets. Each time, the market took a nosedive that lasted anywhere between 12-24 months. But it took significantly longer to...

Most tards, including this Youtuber, obviously know nothing about "confirmation bias". Simply put, they only look at where they're correct and willfully forget to look at all other places where they're wrong.

I was here when this thread first showed up. As much as I'm allergic to everything I find here, I still come back whenever a new post pops up. BTW if you noticed, this thread is posted in the Risk Management section. So the "obvious" is about limiting risks and not about some voodoo magic as...