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Thank you for the little gems you drop from time to time on this bulletin board.

Totally agree with OP. Some traders like to ignore wicks other use the extremes. Having the option and flexibility is basic for charting software.

If markets trend only 30% of the time then you should be sitting on your hands 70% of the time.

Adding to a loser gives you a false sense of security as it improves your accuracy aka being right and this makes for easier psychological trading. Unfortunately..... The above does not come without a hefty price, big losses in relation to most of your winners. Winning for the most part...

Crazy A, Thank you for the great charts, keep them up sir!

By studying how reversal and continuation patterns act when they work and fail. After you know how to identify this, when trends collide you will witness one trend failing a pattern and another one succeeding this event almost always simultaneously, indicating you new direction.

The complexity is most certainly there because of trends within trends. Even if you stick to one timeframe, it all depends how much you look into it or how much you expand it, how far back you analyze it. In the end, we go back to the same problematic, trends within trends. Obviously...

I have accepted an offer of mentorship at no cost from a well respected member of the trading community but the person requested confidentiality and to put an end to this journal at once in order to proceed. Sorry to see it all end so quickly but this is one offer I cannot refuse. Good...

ES support 1170s-1180 ES resistance 1237s-40

Waited patiently today and finally saw a solid signal today to short with very small stop so took it on very good size. Decided to swing it, in case things get hairy, I will hedge it with ES overnight but so far no real danger :D Joe

Thank you for your post, read his book many years ago. Joe

Thank you, ya too much size right now is not an option, and since I was playing defense in case of a quick gap fill, I only used 100 shares. Wish I knew it would work this well, would have used 10 ES cars! Hah I guess we never know do we :) I saw some resistant broken in the daily chart...

Just wondering if anyone is reading my journal. Joe

Quick trade today in cash. Worked very well. Joe

Experimented a bit today with the IB and NT integration in cash. Seems to be working well. Nothing special just a few scalps as I tested the system. Soon I'll be ready, I think. :) Joe

Shorted SPY today when I saw a rejection of the 20 day simple moving average. Saw no reason to close the trade considering the unrealized buffer I had by the close. Will try to land a good run out of this or take a small loss. Joe

Quick updates. Family hit with a major stomach flu that has taken us out of our routines. Still looking to recuperate. In other news... This was sent to me via email by someone helping behind the scenes with no intentions but to help and guide. "Technical analysis is not used...

I will share with you something that a great trader shared with me as I started learning the beginning of the path into successful trading, as I am doing now. "Technical analysis is not used to predict it is used to react. By defining a trend via a well structured channel and aligning...

A great example on how to answer back when someone doubts your word or calls you out. I wish ET had a rule where every call had to be backed with mandatory time stamps; ok that would be in a perfect world. Good trading to all.

Had a feeling the consolidation was about to explode, just did not where to, which is why I exited the position on my earlier post. Looking to buy SPY around the 104 level as a long term position. Daytrading going well, still simulator as I get acquainted with all the tools. Doing much...