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You have a clearly defined trading framework and the ability to trade it with a trader’s mindset (the ability to trade all valid signals because you realize there is a random distribution between wins and losses for any given set of variables that define an edge). After interfacing with dozens...

I agree that moves like that tend to fizzle at some point, but how do you know when? Price can run much further before fizzling. The OP has presented many technical price action setups and always states the reward and risk. In this case it's almost 3:1, which means the reward outweighs the...

You seem to have a nice automated system going :) I'm an intraday scalper and my favorite setup is continuation in a strong trend or strong trending move. For CL, I use a 1-min chart to enter in the direction of the trend on 1-min pullbacks. The best resource for the specific 1-min patterns...

Yes, despite understanding my price action trading strategies, none of these people trade my strategy "note-for-note". Some trade a single setup I've taught them, some are adapting (or have adapted) the concepts to their own trading style (one guy automated a key setup and has been running it...

I have ways to explain my methods to just about anybody. I've taught it to several people, quite a few of whom "got it". Those who "got it" can tell you where I went long or short each day and why. I'm not sure any of them trade all the setups because you're definitely spot on about one thing...

My market perception has negative expectancy. Without my trading plan with its two core setups (repeating patterns, all day every day) and explicit rules (that I can teach to anyone with an average IQ and the ability to recall visual patterns), I'm a consistently losing trader. With the...

Puddles! You covered your RIMM short a bit early :D

I thought that was a form of technical analysis. I trade technical analysis of price action, waiting patiently for psychological patterns to form (zones where double pressure is likely to fuel a tradable price swing). Bob Volman calls it "double pressure"; Brooks refers to "trapped traders".

That's what statistical analyses are for. It proves or disproves whether a real pattern exists that offers a tradable edge. If 1000 people see an inkblot and 600 of them think it looks like a dog, then it's possible the inkblot resembles a dog. If 1000 traders see a price pullback in an...

Tobbe, haven't you heard anything Surf has been saying? People who use TA to trade profitably don't exist. :p

Same here.

I posted these excerpts from Market Wizards a while back. Notice the common trait of all these superstar traders is that they know in advance where they're going to cut their losses. I'm sure you didn't plan in advance to lose as much as you did. Having an advance plan for every trade was a big...

I think it has no options because it's not a really a silver instrument; it's a derivatives-based short term hedging/trading instrument. Exchange-traded notes (ETNs) that use leveraging strategies such as swaps or derivatives (“Leveraged ETNs”) or are designed to move inversely to an...

It hurts the retail investor who maintains stop loss orders. Since so much volume is based on HFTs, if there's a "shoot first, ask questions later" event (such as the major technical breakdown that occurred during the 2010 flash crash, or a rumor on a stock), you've got these programmed trading...

It's all EMG's fault! It just is!!

Surf, I'll try once more to get you to provide just a little something to back up your claims: Can you post a few charts of, say, SPY or a stock index futures contract from "back then" and from more recently showing how these multiple things day traders cannot see, and the proliferation of...

I believe HFT definitely hurts the retail investor. However, HFT doesn't hurt the retail price action day trader who uses a thoroughly tested trading plan.

Good stuff! However, I'm a bit confused about this part: You see the newbies in the forum shouting "go dollar go" as if they are urging on a horse to win in the grand national and you see yourself but many years ago now. When I was a newb in Elite Trader's old chat room years ago...

I've been wondering the same thing. In the studies that demonstrates most breakouts fail or that HFT has ruined the success rate of breakouts, or whatever...how is "breakout" defined?

I choose a price action pattern to study, open a spreadsheet and log data surrounding every appearance of that pattern until I've compiled stats for enough trades to determine if some sort of statistical significance jumps out at me. I do everything by hand, no automated backtesting for me...