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Good post NYOB. I agree with everything you say here except I would substitute futures for stocks. Just stick to one contract, preferably the ES. But everyone is different so stocks are better for some folks. "Review, review, review." <<<------ spot on!

Yes, it can be done and many people do it consistently as noted by many responders on this thread. The key is not in a "system" or "model." As you noted, your model stopped working. That's the problem. They all work for a while and then when conditions change they stop. If you want to...

One last thought....if you study statistics of the stock market you will find the distribution is an F-curve with normal bell curves within that F curve. If you draw up a histogram for a consolidation (pattern) area is looks normal. Buying a breakout is like buying in one of the tails of that...

One more and that'll be it for the day. Real quick....buy 60.25 -- that's where the stops are. Not the bottom? Not a problem, buy more 58.25. Ahh....that's the bottom. Partial out at 59.75 -- take profits, manage risk. Still not the bottom, buy 57.25...ahh....glad I managed risk...

Here's another beauty and a perfect example of how to manage your account. Real quick....stops are getting hit around 63.00 so I buy. Not the bottom -- DOH! Not a problem, I buy more at 61.50. Why don't I stop out down there? I cannot time the market perfectly and neither can you so stop...

Now let's talk about <b>setting stops!</b> As I said yesterday, I don't set stops in a traditional way. I "build" positions, then set my stops. This trade is a perfect example. I triggered long at 65.50, a bit early because I wanted 65.00 but I took it at 65.50 because I thought it was ready...

I use a 5 ma on all time frames. It's a flow and mean meter. The farther the price gets from the MA's the more likely it will revert back to it. On this chart I have the 5 and the 25 ma. The 25 is the 5ma on the 5 min chart.

The 1's are my trigger chart. I watch every time frame up to the monthlies. I look for my entries on the longer time frames (mostly the 5's, 10's and 15's) and nail them down on the 1's.

Well said. If you ask a profitable trader how he does it he will give you answers like, "go with the flow, trade what happens, it ain't about being right, manage risk, lick your wounds and move on.....and so on....." The reason is because trading can't be quantified into something as archaic...

Or, more specifically: http://www.elitetrader.com/vb/showthread.php?s=&threadid=112126

When price goes down buy. When price goes up sell. :)

LMAO. You guys are hilarious!

Excellent question. The honest answer is, at this point in my trading career I don't want to change. If market conditions changed to the point where it trended 85% of the time I would have no choice. If I didn't switch I'd be done. For now, I stick with what works. Also, experience has...

I don't pee into the wind. If a strong trend begins I will either jump on it or stand aside. I like my system because it fits my personality but I don't argue with the market. If it's gonna trend it's gonna trend.

samuelg, think about this for a minute.....you'll probably agree that 95% of traders lose money, right? So if the majority of traders "follow" the market and the market is going down what should you be doing? People will look at this and say, "but PFT, the market rallied 10 pts." You could...

It's Global Strategy Trader. It's something anyone has access to.

I will PM it to you later in the day. If I forget PM me. What happens, say if you get the direction wrong 3 or more times in a row? seems a bit risky. ---------->>>> The best way to answer this is my system has been tried and tested and although my timing is not perfect it is good enough to...

This is sure to bring the pundits out :)) ----------------------------------------------------------------------------- I don't place stops in a traditional way because experience has taught me I will get stopped out on noise when I should be buying. My primary means of managing risk is...

Huh, what a great way to think. I like that f9!

It depends on your style JJ. You get shaped by your experiences. When I 1st started trading the futs I looked for trends but rarely saw one so I switched to a chop trader -- i.e. buy down, sell up, take profits. Admittedly, I'm not a good trend trader. Today I'm raking in the coin, tomorrow...