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Daring, how much do you earn per year from trading? If it's mid five figures or more, why are you so angry at forum members who are giving away an education in technical analysis of price action? If it's less than that, why not take advantage of the free education?

Speaking of a "nose" dive, anyone else remember the day MTXX dropped $13 intraday on bad news about its nasal spray?

The way your comments come across to me is that a six-figure annual trading income from stocks is more "legit" than a six-figure annual trading income from futures unless the futures trader generates his/her income by trading a certain minimum number of contracts. Also, I don't recall telling...

Nope, them triangles are way too obvious and everyone, I mean everyone, has at least one eye to see 'em with. (Those trend lines across longer-term swing highs and lows are pretty darn awful, too.) :D

And how long have you been trading it in the live market?

Stick with price action concepts and statistics. Once you master these, you'll have a belief that if you follow your trading plan price will do X more often than not and that's the only belief necessary.

The 10:19 bar break is fine, IMHO, though I'd be prepared to scratch and wait for clarity if 41.50 held and price came back up through my entry price.

FWIW, even though DB and I trade differently, our trading voice seems to be the same :cool:

OK, so you're assuming the pullback will be a pullback and support (demand line) will hold. You don't have to do that; you're not trading massive size where you need to scale in on pullbacks and you're hedged and it's other people's money so who cares what happens as long as you don't lose more...

What time were these trades? I can't make sense of it? Also, on the short trade, why wouldn't your profit target have been at least a measured move of the move off the high? Why target the previous little low when you're shorting a pullback in a downtrend, meaning price is likely to make a...

What I found to be helpful is to focus on a fixed minimum target that works in both trend and range conditions, but if there's significantly more airspace to a key level well beyond my minimum, then hold for more. Today in CL (oil) is a good example of how I used this concept. Price broke...

That's right, Vis, you need a lot of muscle mass when you trade size like RN :D:D The term "food" should be replaced by "drug": http://www.bloomberg.com/news/2011-11-02/fatty-foods-addictive-as-cocaine-in-growing-body-of-science.html And in keeping with the theme of this thread: I've found...

Yes, I agree. For me, a trade setup is a pattern + context. The context tells me a) if there's enough "airspace" to a next level likely to be tested and, b) whether my maximum acceptable loss on the trade is feasible from the entry price.

http://www.chartpatterns.com/symmetricaltrianglechartsstocks.htm This common setup found all over the net offered four profitable trading opportunities today during the crude oil pit session. I've been profiting from this setup regularly for several years now.

Duhigg

That's fine if you need to put on significant size, but as a small retail trader why not simply trail a sell stop below the low of each closed price bar? Let the price action sweep you into the resumption (hopefully) of the downtrend?

Catching a falling knife is buying in a downtrend. Buying a pullback in an uptrend can be done many ways, including scaling in; however, scaling in during the pullback is really only necessary if you're trading large size.

LF, I believe it's your unwillingness to accept the "grind", the "win some/lose some" nature of trading, that has prevented you from consistent profitability over time. You believe there are traders (or "gurus" perhaps) who can somehow attain something near to perfection. In fact, every...

Every day is buy day at least once when you're day trader :)

I agree that they're geared more toward day traders based on the criteria you have to meet. I think they set the bar pretty low for day traders with a 55% winning day percentage. That means about half your trading days must be profitable, not even wildly profitable, just profitable...