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The original chart posted showed fast and slow stochastics in extremely overbought territory. Yet the price action pattern displayed in the 7 bars leading up to the right edge offered favorable odds to further upside. This is why I switched to price action instead of indicators. Price action is...

There are books that help you understand the importance of thinking in probabilities, but no books that will magically help you eliminate the negative behavior just because the book helps you fully understand the negative behavior. What might be helpful is to have your trading rules right in...

If this chart was a 5-min chart, I'd be preparing for a long signal and would then cross-reference a 1-min chart for my entry setup. If instead a short signal occurred, I'd be surprised, but wouldn't hesitate to take entries to the short side. The chart as it is does not yet contain a valid...

Trading teacher A teaches a trading method that, if followed, produces consistent profits over a 5-year period, but trading teacher A's P&L over that period is negative and analysis of trades shows that this teacher does not trade the method s/he teaches. Trading teacher B teaches a trading...

Very occasionally I do an actual stop and reverse. Most of the time when I get a mixed signal it's a sign of pending chop/range, so I don't stop and reverse.

This might be a decent recipe for longer term trading/investing. Day traders tend to trade inside the gyrations of the market, and intraday trading allows for greater leverage to take advantage of these smaller swings. In this scenario, prudent risk management requires a stop loss at a level...

I don't recall illustrating failed failures, though I once posted my trade blotter where I recouped back to back losses and made a nice profit by trading a failed failure (I traded the two failures of course, LOL!) I would never post illustrations of how I trade chop/range. Too complicated to...

You're giving advice, not providing any education. :( I want educational resources! I want them now! I don't want advice! :mad:

No, the overall odds are the same; the major advantages are more opportunities each day (especially in choppy and range bound conditions), and sometimes additional room for profit targets. And also better chances at scratching certain trades instead of taking the full loss.

I don't know exactly, a while back I stopped posting nicely illustrated detailed charts. Basically I've illustrated plenty of times the concepts -- both simple and somewhat advanced -- that anyone needs to begin their own trading plan development. Any further discussion of the current evolution...

I once had someone tell me to "shut the F up" with regard to sharing my stuff here because he felt I was revealing a lot of what we've worked so hard for. I felt that it was information anyone could find in a book or on the web, but I do realize in retrospect that I've been a bit loose with what...

Right, the technical patterns/indicators/price levels are tools and materials. They are not, however, the analyses that lead to a blueprint. The technical + the analysis = the blueprint for what "works". The TA bashers here keep re-iterating commentary about candlesticks and patterns and...

The very act of quantifying subjective phrases like higher high, 1-2-3, wide range bar, strong trend, Ross hook, overbought, ample airspace, strong move down, rising EMA, and so on is one of most powerful trading education experiences I can think of. It can be incredibly time-consuming, but...

Although you can use candlesticks, classical patterns, and indicators as part of PA/TA, these are merely materials and tools, not actions. You could take me to a piece of land with all the materials and tools necessary to build a house, but without the blueprints and education/hands-on...

HFT is not harming small day traders; the "retail" traders one reads about that HFT is harming are the mutual fund/401K managers. They have to place a lot of money into the market regularly and HFTs take advantage of this. Small retail day traders using 1-min and 5-min charts to exploit small...

A thorough study of price action concepts will lead a dedicated student to the discovery of algo exploitation. I learned about price action concepts from Brooks, a video I saw by austinp, and, later, Volman. I've never seen a book or video or someone on a trading forum discuss the tactics I...

I believe significant size would be quite limited for the way I trade. ES would allow the largest size to slip under the radar, IMHO, but it really doesn't matter to me because I trade small as a day trader and save size for option-based swing trades.

If your definition of "works" means "no losses", I'll save you from wasted hours, loss of capital, and resulting heartache with this advice: Forget trading and move on with your life.

Does Technical Trading Really Work? No. Technical traders really work, though. We have to stay alert at all times because with the proliferation of programmed trading and HFT systems, if we hem and haw for a moment prior to placing our order, the opportunity (and resulting profit) can be over...

No. The original trading plan I developed based on concepts I learned from reading Brooks, has produced consistently profitable results from 2010 until the present. I don't base anything I do on the close of 5-min bars. I have no idea how the close of a 5-min bar would help me with anything...