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I agree with you, that hedging orders instead of stops is definitely a safer defence from conflict of interest between trader and a broker. But surprisingly, after making thousands of trades with very tight stops with the same broker as entries, I cannot recall a single case, when particular...

I would not listen to any recommendations anyway, without checking everything for myself. :D But as I did check everything, my personal experience confirms (including the infamous spot forex traded through dealing desks, such as Oanda), that tight stop-losses (5-6 ticks) are very effective as...

Those, who trade without stops lose in much more painful way. :D

To process and adjust market/trading strategy stats in a more effective way.

What is the difference between "real" and "unreal" world trading?

A lot of hard work with market (both historical and realtime) and spreadsheet software.

I called a couple of live trades today and explained one of them, specially upon your request. :) As for probabilities, yes of course I know all stats related to my own signals in relation to different stop-loss, profit target et cetera. And I picked tight stops, because it provides me the...

I do it for a few months already @ StockTwits & Twitter with some explanations in my journals as well as some longer-term plays (mostly options). Sorry for the delay with an answer, simply was away for some time and didn't day trade actively or checked ET. For the case you are interested...

:D I didn't terminate it, just found that blog format is too limited for my ideas and interests.

As for discretionary trading: In my opinion, discretionary trading is NOT trading without a rule based system. It is trading WITH the rule based system, but with addition of multiple micro nuances, which become obvious for a trader after a lot of time is spent observing and trading the...

Sure, that's why so few people are profitable. They simply do not treat this business as seriously as it deserves. There are indeed many profitable systems out there, but system being profitable for it's author does not mean anyone who is going to try following it's basic rules will be...

Absence of the system is my point #2 (lack of analytical skills). Of course one has to research markets vigorously to notice patterns, which repeat themselves consistently, do necessary homework to see if the same was true in past, if it can be seen in realtime, test it to see if it really works...

In my experience, traders lose money for three reasons (separately or simultaneously): 1) Bad money management skills. 2) Bad analytical skills. 3) Bad psychological skills (emotional condition while trading and discipline in following the trading plan). If a trader lacks either of...

To me "price action" means mostly support/resistance, trendlines and bar patterns.

A few failures to make new highs after the thrust down give the clue it is going to dump further and this is just a retracement we are in. So resistance test itself (the circled area) was the good signal on 5M chart. It's still going down, BTW. :p

Simple price action. :D

Bighog, without any doubt, contributed huge amount of true trading knowledge gems to this forum. I would strongly recommend anyone who wants to become real trader, to read his posts. But be ready, that his posts are not about some "secret signal" or similar pathetic crap, he promises only...

Channels are among my favourite tools for sure. :p

I found "classic" trendlines channels to work quite well as dynamic support/resistance points.

Yes, my plays are mostly reversals, and intraday charts provide a lot of them.