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In a way what you say is true. However, i would word it different. I would say I am anticipating a market move in a certain direction by taking a position based upon a probable outcome which in turn based upon past experience that I have had myself or that has been taught to me from the...

Perhaps you are taking my statement to an extreme that I never mean't. I will try to put it in more practical terms. Not philosophical terms. I know from experience that wedge tops in certain contexts usually have a reversal of sorts. Because of that belief, based on experience, i will place a...

Logical stop placement for each setup and context is different and should be looked at and determined individually taking into consideration the recent price action. If a flat money stop is used (say for instance 2 points) then that money stop should be examined as to whether or not it is...

A trader should not trade what they "believe" should be happening, but rather they should trade what IS happening even if it seems impossible to their finely crafted rules and setups. Even with the best laid plans the markets are filled with uncertainty on EVERY bar, however, one actively...

i guess the dude didn't bath often LOL

ES trades today 1-12-2017

I thought in his original first post he said something about wanting to learn about intraday movements daytrading???

Nothing complicated about it. There are many Swing High Swing Low trades on a 5 minute chart. In general I define an intraday swing trade as a move with 2 legs to it.

Exactly ..rules are for the trader....that is why the main rules for me are SL and following the PA of the market. Stop losses are to protect me from me. I can define my stop loss exactly. I can't define with absolute certainity the PA yet to come but i can anticipate it with a 40% to 60%...

Of course, in such long term trading then yes you make a valid point. However, in shorter term time frames such as in intraday trading that makes little logical sense because of mean reversion... whipsawing ...etc. Best to take profits and enter again if the move resumes. 12 points intraday is a...

Everyday is different in the markets. There are general trends..ranges..pull back..BO...channels...to be sure and all are a reflection of human nature. However, that said, no two are exactly the same in terms of the forces at play within them. That is, no two trends are exactly the same...

One cannot box the market up into a set of defined rules. The market is "alive" so to speak and every day is different than the other. The market knows nothing of our rules. It does what it is going to do 100% ignorant of your rules or mine. It is we who must observe what the market is doing and...

Do you believe there exists intraday swing trades? If so, what defines them as a swing trade?

how do you define a swing trade? Overnight? Weekly?

Well i see i was wrong. I looked again at his original post and see he did say some trades would be held overnight. My wrong. I guess the words "intraday movements" leaped out at me from his original post so i assumed it was an intraday trade. That is what i get for not paying attention to...

Basically, imo one should focus on grabbing profits when you get them and taking the stop loss when price gets there. Patterns can still be used regardless of who is making them (htf's ..algos..or people..etc). A pattern is a pattern. All htf's ..algo's ..computer systems etc are all designed by...

Well he is the one who said the ONLY EDGE IS PRUDENT RISK MANAGEMENT. So, in this thread he has taken 5 trades. Four are losers. 1 point, 2 point, 3.5 points, 30.25 points. Zero winners. He has a 5th trade open. The above is neither an edge (which he doesn't believe exists other than PRM) nor is...

perhaps you best make haste and get an edge. PRM only isn't working too good.

The skill to do that effectively and consistently is within itself an edge is it not? Most traders cannot do what you just stated. Why? Stretch it a little further. THE ABOVE NOT EVEN NECESSARY. Market is 100% random so no need to determine if it is likely to go up or down because that cannot...

Do institutions have an edge over retail traders? If so, what is it? Also why do so few retail traders end up being successful? Is it because the successful ones are the only ones that employ expert PRM?