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I have a 20-EMA on my chart, but I don't use it to signal trade entries. I use price to enter trades and I use S/R to choose initial profit targets. If I'm in a trade off an early trend reversal signal and price breaks through the 20-EMA with conviction, then I move my profit target further away.

Thanks, again! Really good stuff in there. I remember asking you a question during the ES post-crash volatility about fixed vs dynamic stops, and you really explain the reasoning well in this video.

Indicators are completely unnecessary for consistently profitable trading, and in many cases cause traders to put on trades before price itself signals the move they're looking for. When I used indicators, consistently profitable traders kept telling me to dump the indicators. I thought they...

Playing in chop zones can be frustrating. I occasionally do it, trying to position myself early for the break, but I exercise absolute risk control and usually stop out b/e several times in a row. Then what happens is I'm frustrated by watching $100-$150 profit evaporate 3 or 4 times in a row, I...

For the record, Austin turned me (and anyone else here paying attention) on to a concept back in May that has transformed my trading in a very positive way. He posted the link here on ET free for anyone to access. "Happy Mother's Day," he said, and as ET's resident Mom, I appreciated it! If...

I've never had a profitable trade present more than 13 ticks heat, so my stop is now 15 ticks except in very rare instances where I get in late, but still feel the setup is great. It's more difficult to wait for proof of control before putting on the trade because you're getting in at a...

Boli, that's an interesting chart! Catching the start of a new trend is always gratifying, and there are definitely hints that a reversal may be coming (I say "may" because strong trends can run through the entire day and right into the close with nothing more than a consolidation flag to...

No. If I did, I'm sure I would've learned MUCH faster :p

This is so true. A 1-min chart is useful in very limited situations and I'll make sure Matcha stays out of trouble with it! Matcha, this is a very good sign! Once RN started saying this to me, I had well under a year of anguish left to endure before I finally "got it". :D

I'm curious as to whether those who charge for mentoring services have better success than those who do it at no charge. In college, there were kids whose parents paid their full tuition and they flunked out the first semester, and others who were working to pay their way were top students.

Ha ha, you didn't know me back in the days of the -$6000, -$10,000 and -$18,000 losses from holding positions against the prevailing trend until I was absolutely, positively certain beyond a shadow of a doubt that "maybe this trade isn't such a good idea". Back in the days when, while in such a...

No. Trust me. It can definitely be the student. I was one of them. :p

I agree, that's one ugly chart!

I had someone attempt to teach me to trade for well over a year and finally after hitting my head against a wall over and over again did I realize what he was trying to get across to me. And that was just the basic technical stuff! The psychology was a whole other hurdle and I'm not sure how a...

Not really. If you look carefully you'll see that, in classic deadbroke fashion, he included the hidden words "wild", "beest", "gaze", and "bra" in his post; fairly related and in line with most of his posts. :D

RA, you're scaring me :p

That fbo was a great trade, but took it off @ .75 and didn't re-enter :mad: (Sorry for whining, Pic)

Your real mistake here is: "I had a strong gut feeling..." and "I had a fear of missing the down move so I was proactive." I posted on Matcha's journal yesterday about this, using a CL trade as an example...

I think you are evaluating too many things and missing the context as a result. Remove everything from your chart except the price bars. The 20-bar MA is optional, because you can draw or visualize trend lines instead. Keep a 1-min chart for cross-reference if you want. This is also very...

It was what BSAM posted on ES Journal the other day and I wrote it out and hung it in front of my face to help me trade price not opinion. Still struggling with the whole opinion thing...