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Beautiful! The difference between automated backtesting and the tedious manual backtesting I did is that I tracked what price did between the time it hit profit or stop loss. I learned what to expect after I put on the trade. I learned to remind myself that price only rarely goes in a...

Interesting you bring up soccer. Like baseball, the game of soccer offers many similarities to consistently profitable trading, the major one being that the overwhelming majority of goals are scored via the (at first) counter-intuitive strategy of passing the ball back, counter to the direction...

You're asking who gets left out as if the markets were a single game of musical chairs. Try thinking of the markets as rivers of opportunities instead. There are many ways to derive profit from a river: You can fish in the river and channel some water to irrigate a garden and feed...

My source of data is a 5-min, and corresponding 1-min, bar chart or candlestick chart (doesn't matter to me). The source of the price patterns on those charts is from my broker's data feed. I use a spreadsheet or a piece of paper and a pencil and make notes on the price action surrounding...

Who specifically pays my check? I'm responsible for my paycheck. There are experienced traders with a variety of methods for attaining their profit goals and plenty of opportunity for all of them to profit. If you sell me some CL contracts for 94.51 because you bought them for 93.15 and they...

I trade my time for money, just like most everyone I know who gets a paycheck.

My opinion is that R:R is not an isolated factor; rather it goes hand-in-hand with win rate. Let's say I'm a day trader and I do an "eyeball" study of the 5-min price chart and a pattern stands out: I notice that when price stays above a rising 20-period EMA for more than 90 minutes without...

For the 5% of traders who did their R&D, developed a profitable trading plan, and have the mindset to trade it, I believe at least 90% of them are actually making money. The tiny few I've met are able to consistently extract money from the markets. The 90% failure rate is because anyone with...

If you think trading is riskier and more uncertain than working for someone else and commuting to a job each, then you will likely find it difficult if not impossible to cultivate the mindset necessary for consistent profitability as a trader.

Cuz it's for the birds?

It sounds like you're using multiple indicators to provide confluence, which was a key turning point for me. I use S/R levels, 5-min 20EMA, and 1-min 20EMA and also get robust signals with high accuracy (above average win rate), but why be concerned about what anyone else is doing? Most here...

Well, it took about 5 seconds of reading to realize that the author has no clue as to what constitutes consistently profitable trading: Finding 1: Even the best moving-average strategies don’t always work :eek:

Isn't it past your bedtime :p

I've found that if you enter trends on pullbacks using limit orders where you believe price should turn, then you're trying to time the turning point. But if you let price actually turn and sweep you into position off a likely S/R level by using an initiating stop order, the odds of a...

It's a range, price is going up and down :D

20-day EMA turned out to be the buy signal after all :p

If you're averaging 10 trades a day using a 5-min chart, you're scalping. IMHO, a 25-tick stop is ridiculous for a scalper. If you were holding for 40-50 tick targets, and had a very consistent 45-50% win rate over each series of 10 trades, then a 25-tick stop makes sense. But in the current CL...

Is it that you have a tested trading plan describing the setups that signal a potential trade, the contextual filters that validate the setups, risk:reward parameters and exit strategies, and you're simply unable to follow it, or is it that you're trading based on some ideas you have?

This is pure conjecture, but I imagine the reason for the overnight increase is because of a major economic news release pending the next morning. This morning was Non-Farm Payrolls (NFP) and I imagine the margin increase also occurs prior to the FOMC days. I recommend adjusting your position...

Yes, that's the one.