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After doing the rough analysis using Excel to track a variety of items such as MAE, MFE, context, etc., I come up with what appear to be positive expectancy ideas for entries, stops, targets and additional trade management (if applicable). I then run backtests comparing variables, and finally I...

This year I did an analysis (@Turveyd: notice the word "anal" in there ;) ) of two new trading ideas. First I did a manual analysis to evaluate the price action around 100 appearances of the setups. This gave me ideas for various methods of entry and trade management rules. Then I tested each of...

I love your advice, RN. As a scalper it's often tempting for me to micro manage, no matter how long I've been doing this. Something that was very helpful for me in disrupting the routines of my bad habits was writing a set of alternate actions to take. So one bad habit I had early on in price...

I posted several lines describing all the info that goes into whether a single candle will be a qualified signal bar or not. It's all that other info that makes or breaks the R:R of a trade taken off a single signal bar. I have setup where a single tick of difference on the entry (based on a...

A little criticism from me won't cause him a fraction of the pain that his current trading path will cause if he doesn't turn around quickly. Good ideas without a plan + previous negative outcomes influencing subsequent trades = consistent loss of capital. If he can give us the specific rules...

I take overnight positions with options and use real basic TA as applied to the daily chart. Because price tends to fall much faster in that timeframe (pullbacks usually erase in a few days or a couple weeks several weeks of gains), I take short positions only.

VV said he played a breakout and the only breakout setup I saw was that double top level in pre market. I'd never trade a straight away breakout because, as I said, a break out of a wide range like that more often than not fails. But if I were to trade a breakout there, my entry would be 4021...

I challenge you to find a successful business owner whose success is the result of having written out a basic business plan one night. Even if your basic plan has positive expectancy, you’re not trading a positive expectancy plan. As RN pointed out, where are the 5 point (or more) winners? You...

This is Elite Trader, a site for traders (not investors). What would a "permabear" be doing on Elite Trader??? BTW, yesterday's counter-trend pullback action sure felt like ZERO RISK FREE MONEY to me! Let's see, price was on a clean trajectory down with plenty of room below and the biggest...

That particular little chunk of PA reminds me of traps I've fallen for, so I think of it as touching a "hot stove". I certainly expect continuation of the trend, but narrow range consolidation is notorious for running stops placed just outside the range.

The #4 that Bon marked is troublesome in that price is consolidating in a range and the airspace to the range low is negligible, so I like to either sell near the range high (it didn't get back up that far) or watch for the range low to break and then get in on a pullback. I didn't take a...

So it looks like we took the same trade, but I waited for the pullback setup. If you're nervous about retraces, you'll find trading to be more relaxing when you enter this way via stop orders. In a well-defined trend, these entries usually run right out of the gate.

The answer to this question can be found by doing statistical analyses of your trading tactics. If you're trading on gut feeling (instinct), then it's not possible to do this, but if you have specific things that signal/trigger your trades you can analyze price movement for, say, the last 100...

The PA surrounding the open was a bit confusing to me. I didn't get short until 9:47 eastern time, with-trend continuation setup on the 1-min chart.

I had my trend lines in place from the majority of the day and removed the tighter adjusted line when the lower channel level held as support.

I've been illustrating the same method for months now on ET for purposes of consistency, but it's only one of many entry methods. Getting long close to 34, or layering bids in advance around that level is as good a trade entry method as any. When you anticipate a level will hold as S/R and use a...

Yes, those are the 5-min lines! The "where to get in" comes from the 1-min pullback action after the breakout. You'll see it when you look at the 1-min chart. I take my signals from the 5-min chart and most of my entries from the 1-min chart (sometimes a 1st entry off the 5-min chart makes...

Who exactly is supplying and demanding at these micro-levels? HFT algos trying to capture a tick or two? Leave that game to them and focus on levels that have enough meaning to enough players that there's a chance to scalp 5 or 10 or even 20 NQ points. Yes, I'm a day trader and yes, I'm a...

Based on the nature of your posts I don't doubt any of this one bit. :D

That's one helluva skill you have, the ability to read a brief outline for conducting the analysis of an example of a profitable day trading tactic and in your head track all the possible entry methods, R:R criteria and trade management methods without even consulting a single day's charts...