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For accuracy, it's not my setup. I, like many others, discovered it's a positive expectancy setup. I call it BOPB. Cornix trades it; he calls it BSOT. DB trades it; I don't know what he calls it because I haven't studied his PDF yet, but I think the term "RET" is involved. We either...

I don't think "more room" to be wrong leads to long term success. 90% of the trades I gave more room to, failed and the reason I gave them more room was because they weren't working and I didn't want to cut the loss and be proved "wrong". Losing trades are necessary for optimal results in a...

When my son was little he loved math and we'd find on-line "IQ" tests for him to solve. We did so many of them that this particular test was a collection of patterns I'd seen before. So I found it easy because of previous experience, not because I'm a "genius", LOL :D

I found this useful as well. There are "big picture" price environments where I simply use fixed targets, and others where I trail until a key level is reached because there's so much airspace and "emotion" surrounding particular breakouts.

If that's most of what you've studied, then you'll be daydreaming for quite a while.

I second that! :cool:

Surf, for the next month, just watch for the trend line breakout pullback on the 5-min price chart of CL, enter a position using the method illustrated in my recent hard right edge "how to" posts, and keep it "coin toss" random with a 15 tick stop and 15 tick target. That's just one of many...

My statements applied to the experienced traders I've met, people with a thoroughly researched trading plan and well over 5 years of trading experience.

Experienced swing traders rarely have losing quarters. Experienced trend-following day traders rarely have losing weeks. Experienced scalpers rarely have losing days. There's the Trader Ed guy who's willing to trade in front of you all day to demonstrate this, so if you want to see it...

Wow, I'm not only a genius, I'm so fast it said I should become an intraday scalper :p

Very nice! He's one of my favorite fellow vegetarians: "A man of my spiritual intensity does not eat corpses."

First time going live I'd recommend as small an account as possible so you're not able to cheat (average down, move a stop loss further and further away, turn a negative day trade into a swing trade, etc.). Trading real money is somewhat different from demo trading.

I thought there were only a few ET-ers who tried it. Who were the 100's of others?

My guess is that placing large amounts of capital to work in the markets for consistent profits is nothing like day trading a few futures contracts or a few thousand shares of stock. The big players who are "killing it" day trading consistently are HFTs and they profit by way of complex algos...

“There is a principle which is a bar against all information, which is proof against all argument, and which cannot fail to keep a man in everlasting ignorance. This principle is, contempt prior to investigation."

As a newbie I had a lot of success with the strategy you outlined. If a bunch of companies in a sector got dragged down by the bad earnings call or poor guidance of one company in the sector, I'd check the fundamentals of the other companies in Navellier's Portfoliograder and buy the strongest...

1) Define sharp 2) Define the fundamentals that would support a sharp move 3) Define the difference between the criteria for fading a one session move vs. waiting for a two session move before fading This is the sort of tedious prep work I had to do before I was able to properly test whether...

Human nature. Price runs up and retraces. A swing high appears on the chart. Price runs up again, but pulls back from a lower high, printing a lower swing high. Mathematical calculations are made by automated systems, a trend line is drawn by manual traders. Price moves back up to that line in...

LMAO! You must've bought one of those automated systems guys are selling that magically short tops and buy bottoms :p:p