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I like the double bottom idea and sometimes I do flip long very early when it sets up, but I've become such a trend-follower that usually wait for the 1-2-3 to fully confirm, meaning the first swing high breaks with conviction after the DB/FBO/HL (whichever one applies) and then price pulls back...

Most of my trades aren't 1:1, but the particular setup I referred to has a very high win rate if 1:1 is targeted. I draw channels every day, but they're guides, not trade signals.

I was confused about your "double bottom" edge. I thought you meant buying off a double bottom-type formation following a significant downtrend. But above you're talking about buying a pullback (retracement) in an uptrend, which is what I do, so you won't be trading against me, plus I only day...

Exactly! Having been guilty of letting losers run and cutting winners short and having later worked with some traders who did the same thing, I understand the mindset that causes it. There are the three situations I've observed (and also been guilty of): - The trade immediately runs...

No, trading can be extremely simple. The original price action idea that led to my (now) very detailed trading plan was so simple I'd be able to teach an average 10-year-old the concept in about 5 minutes. Your double bottom idea is also very simple and powerful and I would imagine that if you...

My trading rules are 100% defined thanks to the filters I mentioned. If price breaks through either side of an inside bar on the 5-min chart, it's not a trade signal. That's a filter. If price breaks through both sides of any 5-min bar, it's an outside bar and it's not a signal. That's a...

Thank you for your kind words :) dbphoenix's post reflects my own thoughts on this. I saw something that appeared to work more often than not and I meticulously backtested it manually, keeping stats in spreadsheets so I could come up with a plan that involved filters (such as context...

My exits are based on one of the following: - Profit target is hit or target zone is reached and an advance plan for letting the winner run takes over - Stop loss is hit - Trade is invalidated prior to the stop loss being hit and the trade is scratched These scenarios can take...

Hmm, looks like those suckers who bought the last new S&P top on the 17th had pure no-heat upside into today's FOMC. :D :D

Helluva an edge, Pinkman! Not only does it isolate your winning days from your losing days, it allows you to have more time off! :D

My definition of an "edge" in trading is nothing more than a well-defined trading method whose win % combined with R:R produces a net profit over each series of N trades. sellindexvol66 replied to someone a while back about how he obtains his "edge":

:eek:

Here's a scalper's edge: Buy pullbacks to a rising 1-min 20EMA and sell pullbacks to a falling 1-min 20EMA. The premise is that a rising or falling 20-period EMA indicates a trend in a given time frame and when you buy or sell pullbacks in a trend, "they" got your back more often than not. :cool:

S&P futures are the most liquid instrument I can think of. Since you're profitable and trading your account is providing you with a nice income, why not simply add contracts each time you double your account? Why would you want to share your profits with a prop firm?

I think 8% a year is if you buy at a bottom :D

You might have a point there. :p :p ADD: I don't think any of us should put any money into it. Pinkman got all the good stuff and should share with us!

I keep kicking this vending machine and still nothing's coming out of it :p

You deserve a special bonus for extracting .50 out of this in a single trade :D

Hasn't offered another chance to get long there in a while.

NoDoji's First Law of Trend Fighting: The price at which you would place an absolute disaster stop when trading against a strong trend is the price at which you will be stopped out just before a significant correction ensues.