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High 1 and 2, Low 1 and 2 are not systems but price formations. Understanding the material requires a lot of focused study. AL is a scientist but he is no Hemingway. I will give you a hint re H and L's. Think flag consolidations prior to directional resumption..first and second attempts. The...

You answered your own question, you discover and define your edge by deriving an edge from the data of your testing and incorporate that edge into a trade plan. If you can't define an edge mathematically, how do you know if an edge exists?

It is up to each of us to distill the complexity of price behavior down to what gives us individually an edge. You can't get to simplicity without understanding the complex. Anyone who want to go directly to the simple will find plenty of material on YouTube but good luck with that. There is no...

No need to reconcile Fred, what difference does it make? We each have to do our own due diligence and research and find and utilize merit as we deem useful. What someone else thinks is irrelevant. Leave the he said-she said shit to the talk shows and mindless threads.

Al and Hougaard are friends and Tom has expressed his admiration for Al many times but think what you will Fred, matters not to me. I only have concern for negativity causing aspiring traders to avoid his excellent work.

Al's critics by and large know little to nothing of his work so take the criticism for what it's worth. The title of this thread displays little connection as well. Al does not teach a "method", he teaches how to understand price behavior and formation. My study of his work has had a great...

You can't eat like a bird and shit like an elephant......Anon.

:thumbsup:

He is a mediocre technician. His strength is cutting losses and running winners and taking his signals without hesitation. I am not a fan of his trade plan but he can trade. And he well articulates in the book the challenge of overcoming natural instincts and doing the difficult.

It's a good read

Thx for the feet bath info. I'm a long time runner and sometimes my dogs can bark pretty loud.

Yes savants are few. not many 3 year olds can play Paganini on the violin. Trading is a lot more complex than it may appear to the beginner ("What are some good setups?") and learning to overcome fight or flight impulses along with developing the necessary disciplines can be a lot harder than...

Takes longer than most have the persistence or work ethic. For those who do, it takes what it takes....pick a number.

It's a good practice to review your signals at the end of each day/week to determine how trade should be managed. You don't want to go too quickly to BE stop out of comfort but because price action on your signals indicate it's a good place to move it. Again, so many fail because they want to...

Yes, focus on the process of good trading and the P&L will take care of itself, and there are plenty of trend setups in a week....no need for counter trend unless one is a skilled scalper and wants to do those trades....I don't.

Your experiences are very common. The world has a lot more competent technicians than it does good traders. Behavior is the key and is a harder conquer than understanding charts. Keep working on yourself and your habits. It's not easy but it does get easier as you replace bad habits with...

Look, your drawdown days dwarf your net profitable days. That's a problem, now they may all be outliers but the sample size is large enough to suggest that they are not. Do you know what your experienced win size/loss size is? Do you track your MFE ( maximum favorable excursion) is? Are you...

Forever grateful :D:rolleyes:

Can't eat like a bird and shit like an elephant.

Not sure how you derived that but no, it's not what I meant.