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Yes very much a trend follower. I'm usually positioned for breakouts in advance, though, so I haven't bought too many tops or sold too many bottoms lately :p I use very tight stops on breakout trades, so my R:R is excellent when I trade them. I have no problem trading counter-trend off a...

Good deal, OW. It was quite choppy. I got to where I was scalping for .20's, afraid every profit was going to evaporate. I consider buying tops and selling bottoms to be the trend-followers' Badge of Honor. I've done it many times, but the big winners far outweigh the small losers :cool:

I second that intellectual assessment, RN :p What do I care about speed machines programmed to scalp fractions of cents? I'm looking to capture moves large enough to cover my commission, possible slippage, grocery & utility costs, mortgage payment, health insurance, taxes, and my desired...

I've made many real time calls on ET. I also was in a Skype group for 7 months where I called many, many of my trades as I was in the process of honing my price action tactics. I've used basic price action setups successfully with CL, 6E, ES, AAPL, AMZN and POT, as well as for swing trading...

As a day trader looking to capture profit out of short term price swings, every bit of information I need is contained in the price footprint at any given point in time. An example from my trading instrument, CL (crude oil): Friday in pre-market I see that price was well-contained in a...

I sent you a PM, tao. Have fun!

I was thinking the same thing. I apply for a teaching job and I get the job because I have more years of experience. The other applicants lose, among them several who are far more gifted and effective teachers than me. Am I a benefit to society? I work for Raytheon developing weapons used...

Ahh, but that symmetrical triangle continuation breakout in the direction of the existing trend is pure trader porn :p I've noticed that the recent "rogue" moves out of nowhere, are in the direction of a price action setup in which you can either enter in the direction of the break if not...

Just because 90% of retail day traders lose money doesn't mean you're taking money from 90% of traders, and it certainly doesn't mean you're taking money by force or manipulation the way the big players do. Does a zero sum game mean 90% of the players lose? If I put on a long position at...

1 contract For now, the plan is for it to eventually size up based on increasing account size, but it will be all in/all out regardless of position size.

I measure trading success the same as any business. First, you develop a business plan. In trading your business plan is based on research in which you define setups that provide you with a statistical edge that demonstrates consistent profitability in your preferred trading time frame...

Our ATS has been like a trading psychologist to me over the past few months, as it was tested day after day in simulation. I learned that a system programmed to trade all setups with fixed rules for risk and profit-taking is net profitable as long as the setups are based on a positive edge...

Discretionary means I see a setup forming and there is a price at which a position will be triggered. I place an order at that price. Automated/automatic means the computer receives ongoing data that tell it a setup is forming and there is a price at which a position will be triggered. The...

The poll has no problem. It's a poll for discretionary traders who have defined one or more setups that offer a statistical edge over time. Such traders either trade all their valid setups each day (that is a choice in the poll), meaning they've attained a trader's mindset and their edge is...

My husband asked me recently why I shut down at the pit close. "That's when the best stuff happens!" Well, (BCE can relate to this), I'm the one up at 4:30am (my time, and that's your time too, BCE, so get your ass outta bed and you won't miss the good stuff), noting levels, drawing trend...

I did not step away from my desk in pre-market. In fact I had just settled at my desk, noted all my levels, looked at the chart and said, "Trend is up, look for a long entry". Found a long entry and it fizzled. I still had the trade on, in fizzle mode (you can actually feel the momentum has been...

I doubted your P/L post today because of the perfectly round number net profit, but I doubt it even more after this post. Price closed at the rising 20 EMA in a LONG STRONG UPTREND. WTF would make you think to short that? (Sorry, Schiz, but sometimes it's just too difficult to hold back...

I trade CL and I often see unusually large size parked at key levels. I've noticed that the majority of the time price moves to, and through, the level whether the size evaporates at the last minute or whether the size actually gets "eaten", so to speak. When I see large size parked at a key...

As always...flat. :D :D :D

The ascending/descending triangles hear highs/lows or at trend reversal zones are my favorite setups for the exact reason you outline. I gave some thought to psychology behind the strength of the breakout there. Price had run up like crazy since early last night (eastern time) off the lows...