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Can you please recommend me an indicator for the small timeframe intraday chart for catching trend reversals when price touch some support or resistance? I was thinking RSI.

Yes, I been trying to see how to trades the's reversal, they are very profitable

you are correct with this statement. Just blindly take a profit because there is one there, have cost me in the past.

Hello kevagonia, I definitely focus more on letting my winners run much as possible. I focus on trade management more then anything. My main focus when manually day trading is to make sure when I exit a trade, price starts going the other way. I don't like exiting and price keeps going in my...

Hello Scataphagos, I am not sure I understand your post comments. What are you trying to say? What was there to see?

lol hahahhahahahahah man o man. I will stick to the futures

Well, I am trading 1 contracts right now, not sure how I can make $1K in a day. I think I most I made the past 3 months in a day was like $700. i was not planning to scale up until my initial account double. What is your suggestions?

Hello John9999, I believe this is a challenging question to ask or know because to me it depends on the type of trading a trader is doing. A trader may makes 20 trades per day and $5000 day on average. I believing thinking in terms of % return on investment as a trader is sort of not needed. I...

Lol you right speedo, Sometimes I stare at chart snd be saying to myself, who are the big buyers and sellers doing this. I feel like I'm in the trenches just getting busy day after day.

Good work on that trade. Make that money boss. I am discretionary as well, but I do also write automated strategies to test. When intraday trading, I see something different everyday, then plan doesn't change much, just the risk at time.

Very thoughtful and logical write up. But how can one obtain a sound trading plan without evaluating the performance metrics (R:R or expectancy, etc.) pass trading results? Past results may not be the predictor of future results, but atleast its a hope/prayer/chance of making money based on...

Hello speedo, What I am learning is the market conditions can change all they want, but I still control my risk per trade per market conditions.

I keep track of news release times and if I am in a losing trade, I exit before the time. If i am in a winning trade, i bring stop to breakeven and let the big boys do whatever they wanna do when the news comes out. But I do not enter a new trade if news time is coming. after the news, i look...

Hello LacesOut, I use to be like this as well. I use to wonder why the market did this or did that at 8:30am or 10am, or why this big move, or why inflation is 4 or 3%, or why unemployment news is bad or why this and that. What Obama said this for and what if Trump do this and that. Then i...

Also, what was the developer theory of why the EA can be consistently profitable. You see, you use your own understand of how you think the market moves daily and how you can profit from them repeatedly. This is why I believe to design an effective system, a trader needs to have some...

Very interesting response. I tend to agree with you as time is important. great site and manually trading consumes soo much time and energy. I can program much faster then manual trade. My problem is not many ideas, but simple ones i think of. Are you saying that rather then trying to invent a...

lawrence-lugar, If a trader sees a setup that he/she likes to predict, should the trader trade that setup everytime they see it? Is a trading skill a repeatable setup or signal, or a daily market prediction based on timeframe trader looks at?

Hello cole_, Well, I can not agree or disagree with you on this holy grail existing or not. Maybe there is one, whoever, has one ain't selling.

Very nice write up Wallace. Do you believe that a trading system first start with an trading idea the trader see and think of theirself? In my opinion, the idea for a system first comes from manually trading, which comes from years of trading. My only point is use paper money for the...

I use and like ThinkorSwim as well. Good platform