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Well, if entering trade 1 around .22, I'd have definitely scalped something out of it at the upside break of the 8:33 bar. See the 1-min channel? With experience you don't even have to draw these, you just see it all come together (" measured move is just above round number, that's two reasons...

Study what you said. These are contradictory statements. Yes, you want to focus on the specific action of a stock/contract and trade that price action accordingly. The drill I offered you will help you do this with consistently profitable results if you have decent pattern recognition skills...

You're "trading/scalping...for intraday moves" and you "scalp intraday" and you consider it microscopic to study price action using a 5-min bar interval. :confused: If it's because you're trading options, understandable; scalping with options seems ridiculous to me. You get leverage and...

Choose a chart bar interval (5-min chart is very reliable for day trading) and study some common price action patterns, such as this favorite of mine: http://www.dacharts.com/123.htm In a spreadsheet, log the price excursions that surround every appearance of a given pattern for a single...

Consistently profitable intraday trading is boring. Manual backtesting one trade at a time requires no codes or scripts and helps you develop a feel for price action as you work. Money is made by catching and riding the waves the market offers, not by beating the market. Day trading...

I was in a chat room with Geez every day from pre-market through the close for the duration of his journal (which he ditched due to spam) and for many months thereafter. He traded from a laptop while managing a full time job. Because he was an independent contractor, his work hours were...

No, they aren't. What would the difference be between applying trading rules to a chart in real time and applying those same rules to a chart in hindsight?

If you're used to being burned, then that would indicate you don't have a well-researched positive expectancy trading plan. Can you share your 3 shorts, and the reason for entry? I'll share my reasoning: I have a fully defined trading plan for CL, meaning I have specific descriptions of...

Since this is a free lunch thread, I'll share how I quantified the trend today in crude oil (CL) :) Yesterday was a strong trend day and when I opened my platform in pre-market this morning, the overnight session as seen on a 60-min chart had set up a symmetrical triangle. My mentor taught...

Yes, yes, yes, I do believe in trends, I do believe in trends! It's another fairy tale day despite the fact that I had tight little stop loss orders placed on every trade! :cool:

Wait a minute.......are you saying that there's a broker who doesn't charge commissions if you don't use stops???

A trend is a thing of sheer beauty :cool:

It was amazing to me as a newbie in my first year of day trading. And Eric was kind and humble in replying to a question I had back then. Seems like all the really successful traders on ET have been that way. :)

What are pensions? :D

I'm short again on one of those silly setups I found in a book :p :p

Eight shorts, no losing trades...It's been a free lunch indeed in the land of the light, the sweet and the crude!

They never call their trades :( :(

Nah, I don't think Bro Surf would've read a description of Genesis as a brokerage and chided me for being ignorant of the business because I stated they don't fund traders. Altie does make me nostalgic for Surf, though. :D

He made a million that day. Do you think that's all he made in his years of trading? He stated that last year was really bad...low six figure profit. And a while back he stated in one of his posts that he's set for life financially as a result of his trading. He trades now because he wants to...