Search results

I don't know anything about "the lavatory" (???) and I don't recall ever promoting Big Mike (I only posted there briefly quite some time ago), though I did offer some feedback a long while ago about the BMT web site. I've never been banned. Have you? I'd love to see some abysmal statistical...

Sure, an example of price behavior that isn't based on a repeatable chart pattern would be the tendency of price to be defended at the first visit to a certain price, such as a previous day's close, high, or low. The chart pattern leading to that level could be all sorts of visual patterns, but...

For each "pattern" (sometimes a price behavior pattern, not always a visual pattern) that appeared might have some edge, I'd then go back and review the price behavior surrounding every appearance over the past couple of weeks (5-min charts with 1-min cross-reference) and if I found an edge, I'd...

Brooks opened my eyes to concepts I never considered. Volman's first book (I heard he has another out) focuses on scalping with the equivalent of a 1-min chart (he uses 70-tick for Forex). Volman's book is great for beginner/intermediate concepts; Brooks is great for intermediate/advanced...

Contextual filters are what helps you avoid chop and catch the stronger directional price swings. The way I developed contextual filters was to first “eyeball” the price action leading into significant directional price swings to see if I could identify any patterns that occurred more often than...

It was a fast market and we haven't had a chance to experience trading a fast market since the flash crash 5 years ago, unless you consider the periodic FOMC announcements as practice. I do not remember ever seeing zero liquidity below a circuit breaker level. Today was historic price action...

Yes, you use price behavior that occurred in the past and analyze various adverse and favorable excursion scenarios surrounding patterns, certain price levels, S/R lines, indicator values, volume, news releases, phases of the moon, whatever tickles your fancy. You will eventually find edges...

I just threw an example of a price level/road sign out there, but I've never done a statistical study of it, I just noticed that it holds far more often than not when price comes to that level from a fair distance. What's critical is to do an analysis like you did and determine if there's an...

Those lines are drawn in real time and since they don't move around once I draw them, they're not subjective at all. They're like road signs for me. Let's say I see price coming down to a rising lower trend line after make a higher high above the previous swing high. Basically, I see a clearly...

My edge is based on price action (price behavior at key levels, with "key" being defined by me based on many hours of study). This edge only dissolves if a liquid auction market were to dissolve. From the look of every historical chart I've seen and daily real-time trading for over 7 years, it's...

Sure, here ya go. The charts are Pacific Time. As for the turning point on CL (first chart), I was trading to the long side from the open because I'm a day trader and will trade any direction that makes sense on a 5-min chart (a swing trader would be short or looking for shorts in CL and a...

Technically beautiful BOPB on the 1-min chart. :cool:

Short QQQ's :D

Technically beautiful trending action on multiple charts. Daily chart downtrend still intact with no reversal signal in sight. Connect the swing lows prior to the open on an hourly chart (7/28 and 7/29 swing lows) and note where price stopped cold, reversed, and triggered a well-defined...

I couldn't take it anymore and I took a decent break. I figured there'd be a massive move minutes after I stepped away, but I came back and price was STILL diddling around in the same price area as when I left. I learned long ago to ignore that crap and wait for the market to tip its hand. It...

FWIW, the vast majority of my trade signals based on a statistically valid edge look the opposite of the position I'm supposed to be putting on. If I'm supposed to take a short position, it looks strong; if I'm supposed to take a long position, it looks weak. This is why so many traders fail...

Be sure to have your action steps ready or the cycle will not end. Here are a couple of the action steps I used (and still use) to help me stay focused and avoid making common mistakes (these applied to my specific problems, by the way, they're not necessarily universal): > If I feel...

Your bull/bear candles are the opposite color of what they should be. :D On a serious note, no matter how beautiful the setup may be, no matter how perfectly all positive criteria are aligned, on any individual trade price can easily do total opposite of what happens more often than not over a...

So, with such high win rates and R:R ratio why aren't you using maximum leverage?

I'll explain it more slowly this time: I'm saying that if a trader has the discipline to swing 20 cars profitably on a regular basis, s/he will very likely be flying solo, rather than sharing the profit and getting inferior tax treatment; and I'm also saying that if a day trader can't achieve...