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The shooting star candle sets up one of my highest expectancy setups. I don't trade it as a reversal signal, though. ;)

I haven't traded stocks this way for a long time, but I'm pretty sure my holding time was less than an hour on most trades.

Having received brief but extremely powerful help from Redneck way back in the day, and having communicated with slugar in detail many, many times, I know that they (and I) have edges based on strategies that have been "back-tested pretty rigorously. The strategies tend to involve quantifiable...

Yukoner, I suggest that you rephrase the first sentence above so you can open the door to change: "I feel like a slave to the behaviors I cultivated to protect myself from parts of the environment I was brought up in that were stressful and frightening to me. I did the best I could at the time...

"An edge is nothing more than an indication of a higher probability of one thing happening over another." - Mark Douglas I've studied, and traded from, intraday (1-min, 5-min, 60-min) charts for almost 7 years. I've studied, and traded from, daily charts for almost 7 years. I've also studied...

This is great advice. :)

I've spoken at length with at least a couple dozen people at ET over the years. The successful traders in this group had a plan and the ability to follow it. One without the other results in a 90%+ chance of failure. The majority of these people had trade ideas (a lot really good ones, too)...

It doesn't appear that you're learning; seems like you're just trying lots of things. If you want to teach yourself to day trade using a 1-min chart, focus on mastering Bob Volman's concepts as described in his book Forex Price Action Scalping.

Pace isn't a factor in my trading method. I imagine it's because I developed my ideas from studying static charts. I agree that in real time while the chart's moving, it's easy to get influenced by pace and fall prey to negative behaviors like hesitating to put on a valid trade because it feels...

This tactic works well in all time frames whether swing or day trade. The part that stumps most people is how to "catch a trend". There are ways to read price action that make the chance of catching a trend without getting chopped to death in the action leading into the trend. The way to...

This post is superb. When doing statistical analyses of price movement around a particular pattern, I always compare the successes to the failures, make note of everything that consistently differentiates one group from the other, devise contextual filters based on this information, and test the...

I've retired from trading thanks to Surf's astonishing call last month posted right here on ET in advance: 11/19/14 Surf: "Price DRIVERS pegged at 9--- we are fully committed, 100% long, this is a once in a blue moon opportunity, we have never seen anything like it--- bet the farm!" 11/19/14...

Mrs. Language Person would like to interpret "money management is screwed" to have meant "risk management is skewed". Mrs. Language Person would also like to respond to that poster by loosely quoting the ever-revered Warren Buffet: "If you can't handle a 40% drawdown you shouldn't be in the...

Yes, the action step I proposed was that he walk away after the trade is on and return to the screen after he hears an alert that either the stop loss or profit target has been filled. It's hard to feel that tick-by-tick emotion when you're not watching the tick-by-tick price movement. When he's...

It seems to me that you can solve all these issues (perceptions of "right and wrong", childhood programming, and "times of stress") by walking away from your computer as soon as your order is filled and returning to your computer as soon as you hear a sound that tells you a stop loss or profit...

We all want quick favorable excursion, but may excellent trades consolidate for a while before moving. There's nothing at all in my trading plan about how fast price gets to my target zone. There are, however, rules about trying to get out of a trade at break even if a conflicting signal appears...

When a trade that meets the criteria of your plan doesn't "work", of course you should've taken it! Not taking it means you're the gambler, not the casino! Can the dealer at a blackjack table in Vegas step back and say, "I don't really like the looks of that guy, I'm not gonna deal this hand"? I...

That example you posted accidentally put the "A" where the "B" should've been. He's explaining a simple concept known as a measured move (AB = CD) and from the top of the first leg down to the swing low is A-B, then after the loooong consolidation, you expect an equal (measured) move from the...

It's nothing more than a typo in an Al Brooks book. What a surprise. :D

I put on that identical trade and thought, "If that little high gets taken out I should move my..." Boom target! LMAO!