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Now, from a strictly technical analysis point of view, AMZN, while currently in a downtrend, seems to have found support around the $310 area, on the daily chart. Let's see if it bounces back from that level...

When I see headlines like yours ("AMZN, is the dream finally over? "), in a forum or on the front page of a financial newspaper or magazine, then I know it's time to BUY more AMZN stocks... :p

Well, did you test it, or even read the book? Nonsense. There are mathematical ways to determine if a trading system has a real predictive power or if the results are just due to the sample itself ( the chi square test being one of them). In other words, pure luck.

Superb!!! :)

Buy signal on the CHF/JPY is now invalid, no trade was placed. This is why waiting for confirmation is so important in trading, it allows the trader to eliminate most losing trades right from the start.

I already made successful live calls right here on ET, using nothing but classical chart patterns (yes I do place non-mechanical trades once in a while), you can see them here: http://elitetrader.com/vb/showthread.php?t=280748 http://elitetrader.com/vb/showthread.php?t=280600...

What on earth is a "multi-nick" and what long list are you talking about? Chapter?? What chapter ? :confused:

You need to expand your circle of friends then :p Jokes aside and I already mentioned this in another thread, there is a new book called "Trading the measured move : a path to trading success in a world of algos and high-frequency trading" by David M. Halsey. I am expecting delivery this...

So traders who make a living trading nothing but flags, pennants, triangles, rectangles, head and shoulders, double tops, double bottoms, diamonds, wedges, support and resistance lines, trendlines and dozens of other subjective chart patterns do not exist, right?

Of course you also need to backtest a discretionary system! Just open your charting software, go back 10 or 15 years back, and start testing from let's say January 2, 2000, daily chart after daily chart, or whatever your time frame is, making sure you hide the data you are trying to predict...

The probleme with arb trading is that it does not last long for the retail trader, sooner or later "Big Money" will notice what you are doing and will ALWAYS find a way to stop you from eating their lunch. Unless you are one of them, of course.

Trading without backtesting first is like jumping off a plane at 10.000 feet and saying "Gee, I wonder, is that a parachute or a backpack on my back? Oh well, I will find out soon, if it works it works..."

Only total idiots do not backtest their strategy first, so don't listen to anyone that says something like "Oh I did not test my trading system but it seems to be working fine, I made 2000 bucks last week". On the other hand it's good for us systematic traders, after all we make our money from...

If I understand your charts correctly you are using the Market Profile approach for forecasting purposes.

The holy grail system will not only have a 100% winning rate, but the minute you initiate a trade the price will immediately go in your direction and never look back, never revisiting your entry point! And of course it will also allow you to liquidate your position at the best possible price...

Yes, but I don't use them to day-trade the Forex, because my price action pattern appears only when the market is trending. Sure, but I am talking about finding your own winning price action pattern, not using patterns that have already been discovered by another trader. Keep in mind that if a...

And yet you dare to call yourself Satan's helper. Shame on you for choosing such an unholy name, this is pure provocation for the religious community :mad:

I also trade with zero indicator, just pure price action. In fact most traders wouldn't believe how easy it is to consistently extract money from the market with extremely simple bread-and-butter 100% mechanical price action patterns that a 15 year old boy could spot in seconds, if he knew what...

No, when you initiate the long position, as soon as you see 2 consecutive bars completely below the two moving averages you close the position then you wait for another buy or sell signal (condition 1 and 2). In rare instances, a short signal could appear immediately after you close the...

Not necessarily, because when you liquidate the long position the closing price must also be below the 40 previous bars (condition 2) to trigger a short signal.