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I've had a losing day with a 90% win rate and nicely profitable day with an 11% win rate.

Did you read his book, Reading Price Charts Bar By Bar? If you did read at least the majority of it, did you it read slowly enough to understand it? The reason I doubt you read it and/or took the time required to understand it is because > it's a difficult read and I personally spent about...

Yes, my initial risk would be just above the high of that bar that looks like a reversal bar. (It's only a reversal bar in hindsight; at the hard right edge it's just a price bar formation that candle worshippers refer to as a reversal bar.) My "pullback to liquidity" entry saves me from getting...

Sure, enjoy!

Correct me if I'm wrong, but isn't HFT based on equities and the algos are programmed to transact hundreds or thousands of trades a day for tiny profits (fractions of cents) by working against funds (mutual funds, hedge funds, and other big money managers) trying to accumulate or distribute...

This concept is at the core of my trading and this "pattern" repeats constantly throughout the day. There are dozens of opportunities to extract small ($100-$200/contract) profits by playing off these "zones of liquidity". Because I limit my risk, not all these opportunities result in a profit...

Right on! If you're guessing, you're gambling. I know within a coupe of percentage points what the odds on each trade are of attaining my profit target. There is no guessing involved. I have no idea if that particular trade will be the profitable one or the unprofitable one in a series of...

The biggest difference I see is the lack of real time/same day posting. Those old P/L threads were inspiring. I saw people there that I wanted to be like and connected with them here. I had just started trading as a swing trader (1- to 14-day holds), but I wanted to day trade so I could sleep...

We have an ET member who made just under a million in a single day, EricP: http://www.elitetrader.com/et/index.php?threads/trader-p-l-2008.113193/page-411#post-2078776 I believe he started a few years earlier with a modest account. And also Szeven who started very small and had made over a...

Trading is repetitive and routine, and I'm profitable and making a living. Because of the way I manage my entries, I don't endure too much damage in choppy conditions. My max risk per trade is a fixed thing now, which excludes a lot of first entry trades. By focusing on second entries following...

I repeated this cycle after my $18K loss on STLD options. At some point my (informal) mentor here at ET recommended a book to me, Reading Price Charts Bar By Bar by Al Brooks. It was a dreadful book to read, but I kept spending time with it and gradually things I saw and experienced personally...

Summoning ritual is put "Brooks" in the title of a thread, LOL! His first book is the calculus textbook of intraday price action trading.

The entire content does fit in one book and it cost me less than $50 for that book. I met a guy on ET, the closest thing I ever had to a mentor, who tried to talk sense into me for the better part of a year. He came across Brooks book and suggested I read it because he thought it might get...

His book is a minor investment and being familiar with the publishing/author industry, I doubt he gets more than a few dollars from the sale of it. A few years ago he had a trading room you could subscribe to for $99 a month, but there was a free trial so you didn't have to risk any money to...

Ah, then you may have enjoyed that part of my journal back in late August 2008 where I wrote "I did not like STLD breaching $24 support level as that appeared to be a firm level and was one of my reasons for putting on the long calls Friday. Fortunately, these are Nov calls and have some room to...

What is the point of keeping a journal like this? You're just listing trades after the fact, no real discussion of strategies, or rules and the ability or inability to follow them, or emotions and ways to remain objective, etc.

This is the first time I've encountered someone (else) who trades this way. I understand what he's doing. He has levels in mind, probably well in advance. I began exploring these trade ideas a while back and have incorporated them into my overall plan. These are very high reward/low risk...

And if you're unsure of whether or not your algo is loosely or precisely defined, spend some time coding it. My Oh My, you'll discover in no time at all why you struggle to make money when your trading plan has rules that start out like this, "After two really wide bars..." or this, "After price...

I was, and continue to be, extremely supportive of anyone who advises aspiring traders to develop a personal trading plan. DB had a comprehensive document about how to go about doing this which he had posted on another trading site back in April of 2008. I saw his link to that document a year or...

I never studied the method; however, I did notice that places where his systems indicated entries were very similar to entries using my own method. I draw lines on a 5-min chart connecting swing highs and lows because I trade off certain concepts, the main concepts being: A) The initial break...