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At first glance it seems like you're using the word "event" to refer to both the concept of a trading setup and to the outcome of that setup- makes it a little confusing because obviously those are two different things.

That's like saying buy low, sell high.

Well, since you mentioned that you get bored and understandably since I imagine you just look for the same setups everyday. if you automated it you could do other things even if it's inside your house. You could just keep an eye on it through out the day So you haven't made any adjustment...

Only if you are talking about ideas for single trades, then maybe, I don't know. I highly doubt anyone can make a living trading like this though.

Would you say that is the case because you rules can't be defined precisely enough to be used by a computer? Because if not, why wouldn't you make a fully automated system with those same rules? Sorry I meant to ask how long have they worked well for you in their current state

Yes but wouldn't you say that out 9 out of 10 of the ideas you can come up with you will not use because it would require you optimize the crap out of them and curve fit, thus making them unfit for real trading? And what really constitutes a new idea? Changing the parameters or adding some new...

Thanks for the link. More than anything it helped organize what i already knew. From your posts you come off as purely a price action trader. Just out of curiosity: Are you a discretionary trader or do you use some automation (finding your patterns, placing orders)? And since you say you got...

Thanks dbphoenix. So is that all there is to it? I guess I'm asking about the observation phase in particular. Do you basically sit and focus on the live market and try to pick up on subtle clues which you then test? Do you look at historical data, see a price move and try to figure out...

Looking for traders to share how they come up with hypotheses about the market to backtest. What is your process (if there is one)? How do you look for an edge to exploit?