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Come on, anyone with half a brain knows that what you see in real time is totally different from the chart you see at the end of the day. Everyone knows that the price bars all look back at the end of the day and say, "Quickly, quickly, organize yourselves according to those stupid trading book...

Well, Deebee, at the close of a nicely profitable trade a newbie once asked me, "How did you know it was going to that?" and the only answer I for him was, "I didn't." :cool:

Yes! It's not that easy to automate a scalping strategy, but it definitely increases the ability to trade every valid setup (no bathroom breaks, snack breaks, getting distracted by ET, etc.) :p

The advantage of anticipating that the breakout zone will hold as support during the pullback is that you get a real bargain entry when it works and a very small stop loss when it doesn't. The disadvantage to this anticipatory entry method is that it fails more often than a "confirmed" hook...

LMAO! :D

People fail because they have no edge or they have an edge but lack the stamina to trade it with discipline. Take my highest probability setup, my ATM machine, so to speak. It's easy to explain, it's easy to recognize (price is making new daily highs or lows), and it's easy to run a...

Pigsky: "I've never shared my rules on ET. I spent thousands of hours getting to a consistently profitable day trading plan. I wouldn't share my written plan with anyone, nor would I sell it (I've had a few offers). " Again, I've never shared my rules nor my plan on ET. I've never formally...

I never formally mentored anyone and never took money from anyone for any trading help I've given at any time. The distraction of formally mentoring someone would cost me more in missed trading opportunities than I could comfortably charge for mentoring. If I had a trading room like Al Brooks...

Mav, please link me to a post where I intimate that anyone can trade the methods I use, that it requires no skill or brains, that even a caveman can do it. I've stated just the opposite again and again and again on ET. I've never shared my rules on ET. I've illustrated in detail a couple of...

Ahh, this reminded me of a favorite Mark Douglas interview I transcribed a while back: So when I get a signal from my methodology, at the most fundamental level what this is telling me is that the odds are in my favor that somebody is going to come into the market (this is what the pattern...

The only thing that annoys me about the bots is that they never tell me in advance when they're going to run price well over a point from my entry :D

What does this sentence mean? What is "stop hunting"? Are you referring to the situation where inexperienced traders buy/sell in the middle of, or near the inappropriate edge of, a chop/range price action environment and place their stop loss just outside the range, get stopped out by a tick...

The OP asked if anyone could offer any insight into the move in the front spread that day and if people saw this as a good opportunity to short "this" ? Because I had no idea if the OP was referring to an arb play or to shorting the futures directly, I offered my opinion of the state of the...

What I've found is that trend lines, channel lines, moving averages, volume, and more complex indicators provide zones of interest: areas where price is more likely to do X than Y if Z. The "if Z" is key for me. I know that price is more likely (60%+ probability) to move up at least this...

That ability to follow your plan is what helps protect against emotional trading decisions. The downward spirals (revenge trading, overtrading, etc) usually follow emotional trading decisions such as hesitating to put on a valid trade and watching it turn out profitable, jumping the gun...

Sadly, the useful stuff got lost in pages and pages of garbage. Here ya go: http://www.elitetrader.com/vb/showthread.php?t=275680&page=36 http://www.elitetrader.com/vb/showthread.php?t=275680&page=146 http://www.elitetrader.com/vb/showthread.php?t=275680&page=153

In a well-defined trend, I keep trading until until the end (a reversal pattern sets up). I rarely scale in or out because I'm a scalper. I'll keep taking trades in the direction of the trend, but if I scaled in/out then I'd be adding in a strong trend. As a day trader, there are definitely...

I trade the same patterns every day. I guess if the price action they produce changes some day, then I'll have to run new studies. The "professionals" have to accumulate and distribute far larger positions than me. There are only so many ways to do this. As a result price action patterns under...

What I see on a daily chart of oil is a generally flat condition with a slight upward bias in that price is ever so slightly above 50% of the last swing range (high to low). I personally see no reason to initiate a new swing position in either direction at this level.

Holding and hoping without a stop loss makes no sense. There's a level beyond which your thesis is no longer valid and if you weren't in a position your blinders would be removed and you'd likely be on the other side of your own trade. If you've ever taken large losses as a result of having...