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One purpose for using stops is to limit the loss on a trade. But, consider the question of once you are in a trade, and going forward, are you still seeing technical evidence to stay with the trade. In other words, just because you have an initial setup that signals the trade, you don’t have...

Being objective is the key. It’s just that most people think that something like buying the breakout of a down trend line is being objective. When in fact, they don’t know how often buying a breakout of a trend line works nor do they have an objective way for plotting the trend line. They...

I would imagine that most data vendors do offer the ability to link real-time data to an Excel spreadsheet. I have created spreadsheets that are linked to my trading platform using real-time quotes and then I can sort by various choices. I copied a list of ETFs (over 200) from finance.Yahoo.com...

I always recommend reading Mark Douglas’s book "Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude." He teaches the importance of thinking in terms of sample sizes, being open to opportunities, and letting go of trying to forecast. I wrote the forward...

My recommendation is to take your favorite setups and do a maximum favorable excursion (MFE) and a maximum adverse excursion (MAE) analysis and determine the typical outcomes of your setups for a group of hypothetical or real-time trades. MFE is the largest open profit and MAE is the largest...