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Whether or not one took the long yesterday, the concerns are the same: the halfway level of the overall downmove and the demand line:

True. The behavior is the same regardless of the clothes it wears. And it's the behavior that moves price, not the means of illustration. Which is why entering at exactly the "right" tick or the "right" level is of no consequence. If the trade itself is right, it will be profitable, even if it...

Since nobody answered . . . I played with range bars and CVBs at one time, but eventually went back to price bars because I was better able to see what traders were doing. I suggest you plot all three in separate windows and see for yourself which provides the information you're looking for.

Since you appear not to have read this, I'll copy and paste this section here. If you're interested, then make use of the links that have been provided to you. The third step is to develop your system. A system consists of (a) a set of rules that you use to select profitable positions and...

The line business is simply a way of illustrating the relative strengths of supply v demand. What matters is the latter, not the former. One can dispense with the lines entirely. The difficulties with chop stem from the fact that the relative strengths of supply and demand are (a) roughly...

Lest anyone focus too much on the supply line, note that we are experiencing difficulties here due to the lateral movement (or non-movement) from Friday morning through yesterday morning.

Which may result in a high-probability trade. However, if one is going to go the price-movement route, he should understand that the bar interval itself is irrelevant, as are moving averages of whatever sort. Price moves in ticks, i.e., the prints of transactions. How one chooses to...

Now it's not quite so simple since we came within just a few points of the trendline yesterday which, by then and now was/is at 3500. The climactic behavior we were looking for occurred as price did not spend 20+ bars drifting sideways but rather hit the bottom and bounced. And it bounced high...

I assume you're trading oil because you like trading chop. If you don't like trading chop, why are you trading oil?

Douglas wrote Rarely do any of us grow up learning how to operate in an arena that allows for complete freedom of creative expression, with no external structure to restrict it in any way. In the trading environment, you will have to make up your own rules and then have the discipline to...

Why? Why trading? Be specific.

I should have said that I don't either. I studied it long enough to know that it held no interest for me, nor do any other commodities. And Macattack might be happier with something that actually trends. But that's beyond the scope of the discussion, I guess. Thanks for bringing that up.

Well, I'll take you at your word that you're really truly trying. You've been at this for six years so clearly it's not just something you're dabbling at. I have no idea why you're trying or what you want but it's really none of my business and it really doesn't matter anyway. But there are at...

No offense intended, but this is really sort of pitiful, and you need to stop. Like yesterday. You appear to have no concept of buyer and seller behavior: what they're thinking, what they want, how they interact with each other. Without that, you could develop something that is entirely...

If you want to improve, why not begin by explaining why you took all these trades? I see no evidence of a plan. I can explain what I would have done according to my plan, but so what? That isn't going to help you.

Good question.

It reached the top of its trend channel (see the first two charts): http://www.elitetrader.com/vb/showthread.php?threadid=280889

Incidentally, it's not unexpected to find a lot of back-and-fill this close to the trendline. If one just can't stand it, he can always take the money and run. 60pts isn't shabby.

It's also a question of how fearful one is and how many contracts he's trading. If he's fearful, he's likely trading only one or two contracts, most likely one. In that case, he's looking for reasons to exit, to cut his profits short, so he'll be exiting and re-entering and exiting and...

Well, it became clear to me years ago that few of those who claimed to be daytrading really were. They might be closing their trades before the end of the session, but there's a lot more to daytrading than that. For one thing, you have to be watching price move. So, perhaps by using hourly...