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A much cheaper, safer and very effective way to achieve the same effect is to do a short hard workout prior to trading, followed by some green tea and ginseng (I put the ginseng in a smoothie). Cocaine is a highly refined substance, and places you at for addiction, with psychosis and/or organ...

What I learned (the very hard way) is that trying to predict price turns only makes sense in a range or the early life cycle of a tradaeable channel (by "early" I mean when you can first connect two swing lows or highs and place a parallel channel across the opposite swing in the middle; by...

The market is hitting all-time highs and there isn't a single new 'Top" thread in sight. :D

Reading Price Charts Bar By Bar, page 73, paragraph 3. It's from Chapter 3: Trends The book is useful for experienced traders, but close to incomprehensible for beginners. I got it when I'd been trading for about a year and a half. It was really difficult to grasp and I spent hours and...

I agree with all of this, Tom, but must confess that I've occasionally fired myself.

Because farmers trade and they're people (I'm pretty sure) :D

Yeah, I had a L 93.86 to 94.23 based on a measured move tgt. Nice overshoot! :p

Today's another beautiful example of Brooks' statement. No bad entry in a strong trend :cool:

There's some good stuff in my trading journal, mainly the intraday scalping stuff. Sadly I didn't always follow my rules and often allowed my personal bias to toss risk management out the window. My day trading overall was pretty darn good back then. CL offers a lot of excellent intraday...

CL is especially unforgiving in this regard. It's got amazing inertia in a strong trend. I've been posting a lot lately about 1-min continuation in a strong trend with CL. Once a key level breaks with conviction and there's airspace below (or above if the trend is up), you can pretty much do no...

When I started out day trading I traded 1000 shares of whatever. If the stock was really expensive ($200+/share) then I'd trade a bit smaller. I was a noob with some good clues but no idea what a trading plan was. I park my money in an account which I swing trade and keep a few long term...

I've traded energy futures, currency futures and stock index futures and although they have their specific personalities, the basic price action concepts seem to work for all of these. As for beans, I sim traded them a couple times when my mentor told me to take a look at them and nothing too...

I second that. :cool:

FWIW, this is key support on several levels. However, it's smack in the middle of a range, too :D

There are times when that makes sense, but this morning for example you wouldn't want to buy any breakout into the 95.31-95.40 zone because that was range high R levels on the hourly chart. Now if that range broke out pretty hard and price pulled back, I'd have been looking for more long action...

Sometimes I miss out, but more often the 1-min chart has at least a small dip to enter from. I have some detailed rules for entering a strong trend on pullbacks because I personally want to keep my R:R within very specific parameters. But if you're willing to place a slightly wider stop loss...

We can all look at any historical chart and tell you where "someone" would've made beaucoup bucks if they bought that low or sold that high. You guys are silly. :p Since you long term swingers know how to do this, please tell me right now what I should with what instrument(s) as a swing...

That's my top strategy, no doubt. If the breakout occurs with conviction and isn't running directly into some longer term S/R level, I will get in on a pullback. This morning in CL as soon as price broke out of the opening range, I'm looking to go long until there's a clear reason not to. For...

Are you a trend-follower or a counter-trend trader? Definitely post some charts of your trades.

I have a profitable method based on pure price action, so for me it made the most sense to find instruments that offered the most intraday opportunities (I don't hold overnight). I found CL to offer the most opportunities and built my trading plan around it. There's nothing to deal with if...