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IF, Are you serious ??? 1 . ... On the first chart ....How did you know that would be a down candle and not another green candle? C'mon this is even a more basic analysis, the color of a candlestick bar in a indicator free chart is not random !!!. Look at high/low/open/close in...

JavaBen - with respect to Buy Long 2: Which is the sell point? I've identified two, but I'm not clear which would be the correct sell point (keeping in mind I wouldn't know the future). It’s not a long in my book LL and LH - with respect to Buy Long 4: Is this the correct point? I...

IronFist, Practice What You Preach and be consistent with it!!! ....One thing that I learned ....is that price moves in waves. HH/HL, LH/LL... So basically, if you're going long, you probably have a better statistical chance of being profitable if your long entry is in an uptrend...

THE BIG SQUEEZE These charts I think capture one of the most incredible moves ever made in modern trading. It’s a real move of Volkswagen officially in the Swiss Stock Exchange but the chart corresponds to the one in the LSE (VKW.L) on how Porsche rip off hedge funds and “roiled the world...

Today US afternoon. I couldn’t resist posting this chart today. Who can believe you can trade +/- 35 full ES points in less than 3 hours with a 1 min chart (Given the current conditions on the markets the usual “noisy” 1 min chart is efficient) … Enjoy this real live textbook...

Greddy, SK0, etfswingtrade, MandelbrotSet, amitman, Dr.N, shasha,thgood, IronFist Thank you for your comments. I have been extremely busy lately especially with the very active markets since my last posts and as maninjapan said it “if you don’t have something useful to say …” To be...

IronFist, Don’t get me wrong but during the last few months I really have enjoyed the mental trading process you have passed, at least from what I can deduce from your post in this thread. IMHO, you seem to have improved a lot since your 50 EMA crossover idea but you need to move to the...

vertigo3 Assuming that you have done a proper price analysis (indispensable) You have many options for triggers apart from the typical BS of experience and screen time (which sadly it’s true and it works). The very basics and essentials will be: 1) price rejecting the support and go long...

SusanaDT, Good luck with your excellent thread. I will definitively follow it !!!. Although I analyze price less horizontally than you do, I also follow, trade and respect pure price action as the only way for successful day trading (not necessarily for long term positions where...

etfswingtrade, ammo, ddoonie, Bingoking, bilbod, toucan, BlowFish, umitd Thanks for your comments bilbod Excellent post !!! (http://www.elitetrader.com/vb/showthread.php?s=&threadid=113456&perpage=6&pagenumber=129) What are your views on time charts? I am use to the 5min chart...

A POINT OF ORDER It’s amazing how often we small traders tend to lose perspective during a discussion on trading. During the past few years I have found that most of the forums arguments end up dealing with the same issues “the technicalities of trading” which in my opinion obviously...

Ironfist, I am not going to micro details in your post because I think 90% of the problems you mentioned in your posts are related to the macro picture. IMHO, either you are diminishing the importance of the basic premises (minimizing risk, order or analysis, delimiting your Trading Field and...

Given the # of questions/doubts/ideas in the last posts I’ll make a pause in the QM PBP to address some of these comments. “… markets are set up to naturally take advantage of and prey upon human nature, moving sharply only when enough people get trapped on the wrong side of a trade...

PUTTING EVERYTHING TOGEHETER: “MAPPING A TRADE”, STOPS AND COMMON SENSE #4 Triplepack, exactly!!! iluv2trade, I do agree with you (especially the observation on the pivot). Moreover, your comment on the 3rd trade is a perfect example on how an indicator (although very smooth)...

PUTTING EVERYTHING TOGEHETER: “MAPPING A TRADE”, STOPS AND COMMON SENSE #3 If a trader has done a proper analysis he/she would have “discovered” how “easy” and “efficient” is to trade longer timeframes and why investors and big pro traders make fun of small traders and all...

PUTTING EVERYTHING TOGEHETER: “MAPPING A TRADE”, STOPS AND COMMON SENSE #2 The first variable in the QM PBP) is timeframe. Remember that among other things the timeframe will: a. define the time between waves meaning how much time you have to make a trading decision. b. longer...

Developing a price based trading plan (PBP) #6 PUTTING EVERYTHING TOGEHETER: “MAPPING A TRADE”, STOPS AND COMMON SENSE It has been some time since I started this thread and I think is time to put all the concepts together in a real PBP example. I will start this post following the same...

womblevader Thanks for all the posters ... This thread has really helped me out with setting stops ... Thanks for your comments. You are the first person in this thread to acknowledge the key relation between price analysis (a consistent PBP) and better stops. Most of the time, stops are...

forexfox First thanks for your kind words. Short term scenario this trading method is more suitable for - 1to5 min charts or fast intraday tick/volume charts. The overnight data in certain continuously traded instruments should be avoided. For example, futures like ES, ER and NQ are very...

TIME – The Forgotten #2 I am going to use TheRumpledOne GBPJPY example to show the implications of Time in a PBP. Keep in mind that I am only focusing on time and not necessarily on the particular or potential trades. Instrument = GBPJPY Timeframe = 144 ticks Direction Indicators...