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If one takes the time to compare the high/low of price turns to certain price levels in the environment leading up to the price turn, one will understand how incredibly organized price action is (with the exception of action surrounding key news releases). An astute price action day trader with...

k p is searching for certainty in an environment that is inherently uncertain. k p has a clean, strong foundation upon which to build a consistently profitable trading plan. After discussing this with k p for some time now, I believe that if he was given an insider tip from the largest hedge...

Awesome posts delMar! Written in 1935 and still works beautifully in 2015 :cool:

FWIW, looks to me like Saber is trading pure price action and very nicely at that. That first loss yesterday was due to poor stop placement, not a poor trade setup/entry. Saber, what I do if the initial signal requires a technically feasible stop that doesn't fit my max acceptable risk is wait...

What's really interesting is that I've never seen anyone demonstrate the consistently profitable use of the above in real time. Many of us who use charts have posted many real time trades here and/or called trades in real time in a trading chat room and have explained in detail how the charts...

Almost all car accidents involve people driving cars with steering wheels in them. Sadly, no one seems willing to offer me information about cars without them. :(

Normal people don't trade. o_O

Nearly 2 years ago I posted a list of the initial price action patterns that signal potential chop/range conditions are quite likely: http://www.elitetrader.com/et/index.php?threads/help-ive-been-chopped.277421/page-2 This is real time chop/range prediction, not after the fact.

A longer break is a good idea, IMHO. I take a breakfast break after a couple hours because of: http://en.wikipedia.org/wiki/Decision_fatigue "Experiments have shown the interrelationship between decision fatigue and ego depletion, whereby a person's ability for self-control against impulses...

I thought I was the only who felt this way, LOL! Those intuitive non-plan trades all work perfectly unless I'm in them! :p

Charts are a visual illustration of what actually happened. Charts are like footprints. Once you learn to recognize, say, elephant footprints and you see a herd's worth of them pointing in the direction of a well-known watering hole, chances are pretty darn good that if you follow those...

Doing stats is the RIGHT PATH. Geez was a consistently profitable trader because he had extensive stats that demonstrated the importance of each facet of his plan. If price came within .01 of his target he didn't cheat and take profit early, nor did he cheat and cinch up his stop loss. It drove...

To me, your method and your thinking look like this: You see a key level of support or resistance (a “line in the sand”, so to speak). You’ve observed that if this key level holds, price frequently makes a run of sufficient strength in the direction opposite the S/R level that you can extract...

Seriously, what was going on with our beloved crude today? It felt like two massive HFT robots were trying to outsmart each other most of the day. :confused:

"Difficult" is a bit of an understatement. Although there were quite a few trades that would've worked if I applied my entry/management rules to basic signals in isolation, most of them were not full setups; in other words, the price action environment was confusing and a case could be made for...

I often find myself in a trade where it "feels" like the trade isn't going to work out and I have that thought of taking a smaller loss instead of holding for the full loss. I learned the hard way that there's no point in doing that unless there's a valid signal in the other direction in which...

The entry method I described and that you illustrated so nicely above is same concept that blew your mind the other day. The nice thing about entering this way is that if it's going to fail, it tends to fail quickly so there's not a lot wringing of hands and gnashing of teeth involved. The major...

Your blue arrow short idea at that point in time is an idea without a signal. Price is in a range with range support at previous resistance. There's no short signal yet. Then the 2nd bar past your blue arrow breaks that support level. Ahh! A short signal! Quick, subtract your 2 point stop...

Continuation in a strong trend, I let price sweep me back into the direction of the trend, which is a "worse" price than anticipating a level will hold. Slightly higher cost of entry, higher "win" rate. If price breaks through a support level, that's a potential short signal and I'll be...

You're catching on here! Like that example on the chart from the other day where you had the blue arrow. First I get the signal to go long. Then I look at the swing low. That's my line in the sand that says, "If price comes all the way back and crosses this line, my long thesis is no longer...