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not my journal. and I think one of the chat members made it, as the actual trader no long journals. google drive link

Does the degree of intelligence and sophistication of an investor directly correlate to their success as a trader? To say so would mean you're smarter than the herd, but the herd always wins. And one does not have to be sophisticated to know that a certain stock has exposure to China I've seen...

feel free to call me out if I sound like I'm talking out of my ass. you clearly know more than I do, but I can't get over the notion that everyone in discretionary trading is full of shit, when I've seen evidence otherwise (and they don't sell courses).

I was referring to supply/demand on the longer time frames, 1h/1d/1w. I know better now than to mess around with intraday noise. but as you said, the reason why we're trading is to make money, so why would I really care about actual oil supply/demand when that is already reflected on the...

I understand what you mean, and afaik the aforementioned CBOT traders were able to adapt to electronic trading. They now focus mostly on supply/demand and structure trades around where prices are more likely to react, and where it might go to next if a trend continues or reverses. Isn't this...

He's one of several former CBOT guys who now teaches. Either they're all complete frauds or they actually know what they're talking about. I'm leaning towards the latter. At the end of the day, you have to believe something and have someone to learn from, even if it's some guy on investopedia...

As far as I know, technical traders build a lot of their edge by looking at a lot of charts. Some gravitate towards specific setups, the most common one I've seen being the breakout after volatility contraction. Others like to trade only specific tickers that provide good trading ranges and...

to keep things simple and avoid paralysis by analysis. I think it was peter brandt who said to trade the price, not the 3-4 letters on the corner of the screen.

I'm not really talking about power hour where day traders close out of positions, but rather the volume right at close or right after close, where there would sometimes be a huge volume candle, but no significant price movement. What do these movements typically represent? I saw a lot of these...

why not? if a trading system has a 30% win rate but an average of 4/1 payout/risk, that's still a profitable system. The guys I mentioned have r/r that exceed 4/1 because they can find good setups, are quick to admit they're wrong, aren't afraid to reenter when the trade makes sense again, but...

kristian qullmaggie - swedish retail trader since 2011, and turned from 4 figures into now 8 figures swing trading high ADR momentum and shorting parabolics, claims 30% win rate. I've seen him trading live and his stops would cause big intraday wicks. bob dunn - former floor trader at CBOT, now...

sounds like you're a momentum trader at an institution, maybe prop? you see range expansion with volume, and buy the breakout. put the stop in the green and let it ride until momentum begins to fade. It makes sense. But it can't be the only thing available to trade for retail investors. and...

yep agree. will look at that thread, as it's actually useful to me. There's a reason why I don't trade harmonic patterns myself. It's kind of intriguing, and I've found some patterns to have worked, but it's never been something I've used to carry too much weight. I only posted to see what other...

I agree most people posting videos about stocks on youtube are either scammers or idiots looking for validation. But there are also some old floor traders who seem like they know their stuff (like peter brandt), and a lot of them say the same things, like KISS. Deviating from the original...

probably more useful in gaining insight on his process.

I am skeptical. that's why I'm here. But I'm also skeptical of skeptics who claim something sucks when they haven't tried it. https://harmonictrader.com/ here's the website. I'm not sure if the book is still free, might have been a one time thing. I can share a google doc when I get home later.

he gives out the book for free. but he sells the signal software. afaik, he doesn't go over trade execution in the book, but I've not finished it

from what i've seen so far, nobody here has studied harmonic patterns in depth, and the best argument for why it's snake oil is because it seems like bullshit. but I can understand. In Carney's book, he only really go over successful trades and examples. there's no discussion on psychology...

where do you think edge comes from with technical traders? some people think edge comes from looking at chart patterns a lot. Others think it's risk management and execution. the truth is probably somewhere in between and all of the above. at least that's my opinion

I'm only really asking about Carney, since he's the one who came up with harmonic patterns. There are a bunch of other copycats. I don't care about them.