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I position for breakouts based on statistical analysis, not based on what I see and remember happening, nor what other people say. Statistical analyses have proven my opinions wrong many times.

I wasn't trading breakouts 5 years ago, but they sure have been a major profit generator over the past 3 years. You have to learn to identify the environment in which the expectancy of success is high. A breakout of a wide range will nearly always fail on the first attempt. But a breakout of...

Please do explain how ultrafast computers next to exchanges fighting each other for fractions of pennies on large size all day long somehow affects one's ability to extract profits out of significant intraday price swings? Seriously, Surf, can you post a chart pointing out areas where a...

Hog, I have a hand-annotated chart you provided me back in our "group therapy" days, and my entire trading method is right there. Thank you, Mr. TA! It works! :cool:

I often use a Trader Vic pattern for price action entries around key areas such as trend lines, channel lines, 20EMA, etc. Because I use a specific pattern in a smaller time frame to trigger my entries, whether my trend lines or channel lines exactly match up with someone else's doesn't...

The charts I posted here distill my method: http://www.elitetrader.com/vb/showthread.php?s=&threadid=220303&perpage=10&pagenumber=2

Yes, me too. :)

They profit from your gains just as much as your losses.

Surf, I'm curious about something. If you believe there's no way to predict the odds of a directional price move based on the technical analysis of what price has been doing, then why do you think certain patterns repeat so much more often than they fail? I'm looking at a daily chart of the...

My personal hypothesis is that all the programmed trading has made them more predictive than ever. I'm often astounded at how many times in a row a particular setup will hit my profit target before hitting my stop. Keep in mind that the big money that moves price can't just jump in and out...

My mentor taught me classic TA patterns for free. These patterns are available for free (http://www.daytradingcoach.com/daytrading-technicalanalysis-course.htm), and in inexpensive books. I have an individual method of trading off these classic TA patterns. I've posted my strategies via...

TA is predictive. It allows one to predict the odds of price movement A occurring before price movement B. By combining these odds (win rate) with the ratio between the price movement A and price movement B, one can find technical price action patterns that offer positive expectancy...

Awesome result. It's great to see someone show everyone what can be done, when so many posters tell everyone what can't be done. :) Would you be so kind as to share what overall style of trading produced this result? I'm curious if it Technical Analysis or Price Drivers? :D :D

As Took2Summit stated, "...you can draw the trend line however you want, but you have to be consistent." You can use any framework for trading as long as it --- and your trading rules surrounding it --- are consistent. All the ideas you list above for defining a trend do indeed define a...

Same here, and thanks to you I learned to distill and simplify. :cool: I look for two setups and trade them aggressively. The RTH session is 6.5 hours at most and there's no commute time involved. So what's not to love? :p

MoneyNews is like NewsMax; they buy promotional space and publish what looks like real articles. Similar to advertorials in magazines, only slicker because most people believe anything they read on the internet. :D

You can be a compulsive gambler without exhibiting compulsive gambling with every opportunity to gamble. Just as there are alcoholics who only drink at home in the closet or the basement, or only drink on weekends, or only drink beer, there are gamblers who only gamble in a single...

Are you familiar with the behaviors that indicate addiction problems? Here's a very common theme using drinking as an example: "I think your advice to quit drinking might be a good idea and in fact I've quit a few times. But then I convince myself I can drink normally and think, 'It will be...

Not only that, his phrase "similarity of the orthogonality of the probationer" is pure OBFUSCATION!

You're still experimenting (in the R&D phase), so avoid live trading until you have a plan, applied the rules to 500 appearances of your chosen setups and logged the results, then practiced in demo mode until you're consistently profitable and stick with your plan. I manually backtested. I...