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Only if it's derived off something known to show accuracy, like Fib projections.

Yep, your plan has to have a solution for every possibility and then you just follow the plan. If it goes X against you, you have a course of action. If it goes X in your favor, you do so and so. You do not second guess the trade if you got out early, some days you'll be glad you got out...

Yeah, I"m no expert but I thought the Turtle method is a Donchian type of breakout, which has very little to do with a MA cross method.

Being that I'm from Atlanta.. when the average person hears about daytrading, they think: the psycho that shot his family and everyone at his prop firm the reason for the bubble corporate fraud mutual fund fraud some stuff that they can't figure out, so it must be a scam so.. just...

If I could do it all again, I'd learn how to print counterfeit money.

yeah , you have to go to an intraday chart .. 6 bars is nothing to be trading off unless you're insane.

I agree, this is written by people talking about much longer time frames. In daytrading, you have time, range, and noise issues every day. The only ways that I can see to achieve even a 2 to 1 ratio reliably is to buy bottoms and sell tops. This presumes you are using a meaningful stop area...

Just about all his books are identical.. non stop charts of gartley and butterfly patterns. Neither of which I can see in real time.. but that's just me. I know plenty of people who claim to trade only off them.

er, they're not mine.. they're my sisters.. right

not to where i'm whipping out pom poms, but naturally you'd want your trade to work.

The only useful candle that I use are hammer/shooting star/long wick types. Many people call this a poke or a reject bar. This confirms perceived resistance areas and shows at least an initial failure. I use it mostly as confirmation, but never will trade it directly.

It's getting toppy though I don't believe this anywhere near the end or a year high. Short term (2 month) high 1150ish, Short term correction 1100ish looks realistic. Then again I trade off the 1 min, so this is all trivial.

All in, all out for an active trader.. though for a fund manager or a long term investor (weekly/monthly+) with huge pockets, scaling and adding is the way to go.. that's the thing with books, they are written by traders in different situations and there will always be conflicting answers.

The Poser book is really lousy in my opinion, though it's been 6 months since I read it .. so I don't remember much.

Roughly a year.. went from hemmoraging losses, to slow bleed, to BE before commissions, to BE after commissions and so forth. It's a painful process, but a necessary evil. The holy grail is hard work and persistence. Method is secondary.

What page did you find that quote? I admit, I've only finished the first 3/4 of the book .. but some of these setups with an Elliott Wave background have plenty of potential.

Around 116-119

I thought it was like Trading with Dinapoli levels part 2 .. which is a compliment. $50 is cheap, could have been $100.

Yeah, breakout of Wave 1 top.

Blah, any theory on why some people got it and others didn't ? I'd been averaging 6.8 trades per trading day in the past 10 months.