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The concepts of "right/wrong" and "bad trade/good trade" are best replaced by "trade criteria were met/entry was proper " (such trades are always "right" no matter what the outcome) and "gain/loss" (outcomes are not predictable so why give a loss a negative label when losses are a necessary...

Your illustrations are perfect. I cheat on my 1-2-3 entries by taking the early entry as Trader Vic describes here (I enter my 1-2-3's at the X): http://www.dacharts.com/123.htm My advice on that thread was based on my own "the market is out to get me" experiences. It really, really works, LOL...

I consider 2-4 points to be a minimum scalp on the ES. Here's a tactic to study: Display a 5-min and 1-min chart. On the 5-min chart, connect swing highs or swing lows in the direction of the trend. If there's no clean trend wait until there is. Be sure the trend lines on your 5-min chart...

1. Your thinking is creating emotions and you're trading based on how things feel as a result of your thinking. 2. Your comment "I really do think that people either have or don't have a genetic predisposition to being able to trade well. Most people don't have this, hence why its so easy for...

Yes, that's the MM structure you illustrated. I trade mainly CL and so I shorted NQ yesterday quite deep int the move, so no 50 pts for me. There was an overnight spike low and when price broke that and came back up to take out all the breakout traders' stops (which you illustrated nicely at a...

Easy free money "trend day" secrets (example to the long side): Step1: Wait till it feels like price has run too far Step2: Wait for price to start pulling back Step3: Wait till the feeling that you're going to miss the trend reversal becomes so strong your finger is ready to click Sell Step4...

I trade all in/all out because that's what my stats/plan is based on, so the number of contracts is irrelevant. I was using 1 or 2 contracts as an example to compare to swing trading. Generally swing traders trade smaller than day traders. Your entry today was stellar. There was no signal to...

I once ran a paper-trading study of my intuition for about a week. I put on my trades as indicated by my plan, but also logged on paper the prices at which my intuition (what feels right at the time) told me to trade. My intuition was so wrong that fading it provided a stronger edge than my...

THIS:

Whatchoo complainin bout? What goes up must come down and it takes less than 2 weeks to reverse 2 months of upside action. :D

For the past few years I illustrate on ET example after example of open and direct price movement* and the anti-TA "Surf Camp" warns all the noobs to stay as far away from me as possible lest I cause their imminent financial demise. Note to NOOBS: If you come to believe Surf's statement above...

You're welcome! Yes, scalping is a lot of work because of the focus involved. However, I like being flat at the end of the session, nothing to worry about, no hedging necessary. If I can generate 20 points of NQ profit or 40 ticks of CL profit a day trading one or two lots ($400/day) with no...

I chose a really convoluted way of explaining the measured move target to you; sorry about that! I was suffering from Friday Brain after scalping both CL and NQ at the same time, LOL! The attached chart shows the traditional way of doing it. Once you practice a while it gets easier to do in real...

Yes that's the bar I was referring to. Because a break of that bar's low could take price back through that fakeout low from a lower high, the odds of a lower low by at least as many ticks as the difference between the high at H and the high at your blue arrow 5 bars later is above average. So...

Shorting a break of a swing low only makes sense in a strong trending move where you have significantly lower highs and lower lows. The downside break of "E" on your chart came off higher highs a bit earlier. This is the signal that price will likely act like a range at least briefly. The...

I've only been at this for a little over 6 years; however, I was adding to ammo's earlier post, basically saying the same thing he said but maybe with too many words. Ammo was a professional market maker and he's been at it for at least three decades if I'm not mistaken. He is one of several ET...

The patterns (or price footprints) are the result of the battles that occur at value zones, as ammo described. The patterns are the result of the beliefs of all the market participants (asset managers, iBanks, hedgers, individual investors and traders, whomever). If a single hedge fund has the...

The reasons are that if a certain line in the sand is crossed, technical analysis of similar price action over the past N decades indicates that price will continue moving in the direction of the breach until price gets to, or close to, the next key S/R level in line to be tested. So if you're...

If you're concerned about the concepts covered in his book, consider testing your trade ideas via automation. You'll find out very quickly whether you're the only one seeing those bunnies in the clouds. :rolleyes:

I draw trend lines on hourly and daily charts which appear on my intraday charts. I consider those to be key levels in a strong trend and will trade the trend aggressively until price gets there at which point I watch the PA to see if a reversal pattern appears. When Thursday's CL daily bar low...