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Gotta agree with the pros in here. First comes risk management, then comes your own unique edge. Gotta go on the quest for the grail by yourself, but you also have to make it back alive!

The 5 SMA or a 5-20 cross is a good exit signal on daily charts and would have kept me in DE and CMI, which are still going up after I sold, but I'm like a little kid before Christmas seeing all the gifts under the tree when I see money fluctuating on the screen. It's my intense fear of loss...

I've wondered if you are on his payroll, with those young girls holding signs for him

Holding thru a drawdown like that for $200 is why I never let my winners run. I'd rather be poor and happy! :D

Weekly report for October (we call this a debrief in the world of flying, and some of them can be harsh). Monthly return 3.8% vs. Nasdaq -0.2% A Entry discipline A Risk management A Letting winners run...

Looks like you called it again. That is some instinct you got:

Just do what Ken does and buy to open SQQQ on a trailing stop the next day after his prediction.

I'll go all the way down to 10 minute bars if I need to verify a five wave but it's best to start at monthly and work your way down. For short term trades, however, you can see what you need on the daily.

Nice prediction, and if you want ET Cred you need to post a blotter. How many muppet furs did you get today? :D

Control the down side, and the up side will take care of itself! If you keep hitting the rocks, it might not be a good day to go for a swim......

For me it's been the opposite. Only times I've really been consistently profitable (trading) was after forcing myself to do the wave counts. It filters out a lot of impulsive trades.

The swing traders persective (Momo indicators breaking their trend sometimes leads to the end of the price trend over the next two waves). %%not a prediction%% :D

RCMT wilting quick, sold for 19.30 loss. Total profit for October: 704.06 No positions on. Going to wrench on a plane. :D

I've been a failed traid3r for a long time. :D

I have daytraded stocks like this (top losers on the scannner) and if you wait for the first flag you can consistently get the second bounce, when you're lucky. :D The strategy came out ahead overall, but not nearly as good as just buying good stocks after a pullback. Those were the days of...

Not so bad if you're just looking at Nasdaq, but just a pullback so far:

This sums it up. Years ago I found that using a trailing stop the height of the first wave, since I'm trading a reversal price pattern based on the first flag, would have worked fine and made a lot more money than just getting out when I think I have "enough" profit. Currently long UCO, will...

Wow, looks like I still need to work on not cutting winners. Basically everything I sold in the last couple days is still going up. UCO still going up so holding. RCMT got limp right quick, but still in an up trend. *edit- UCO looking mushy, sold for $116.69 profit. Total closed profit for...

You can switch your buy and sell buttons during a slump. I've done it before, no joke. :D

LOL, I don't own it. Putting together a list of short candidates and was impressed by that one. Definitely on the list. NFLX looking strong, however: