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Not quite Kut2k2, there are a few exit strategies based purely on time limit, for example you buy here and you sell exactly 4 days later, 4 days being the optimal backtested value in this example (unless the stop is hit first of course). But I agree with you, in general a trader should never...

Good point. In fact it should be interesting to study the behavior of all the "C" stocks after a breakout, and see if they ultimately outperform "A" stocks under this condition...

Where did I ever say we don't need DATA to trade? :confused: You wrote : " IBD is by far the most efficient investment in terms of acquiring valuable data" and I simply said that a trader does not NEED to read any of these financial newspapers (or magazines) to trade profitably.

For me IBD, the Wall Street Journal, Barron's, Financial Times, etc... are just newspapers. Granted, IBD do provide additional financial data but again a trader does not need to read any of these papers to trade profitably. That's precisely my point. Personally I ONLY need to look at...

Hi Maverick74, While reading financial newspapers could give us some new trading ideas, a real trader does not need them at all to trade profitably.

Ok, but I thought you said you were looking for a "website that supports momentum style investing". Momentum trading has nothing to do with investing, it is very short term oriented. I doubt you will ever find such a website. If a stock ranking/rating system delivers superior results year...

The idea is very simple : if IBD talks about a particular stock on the front page, you will notice that this stock will usually move very quickly after the open, up or down it does not matter, by the mere fact that thousands of IBD readers (traders) are reacting to the front page story, good or bad.

Pay attention to the stocks that figure on the front page of IBD, they usually are good candidate for momentum day-trade plays (long or short), if you get the paper very early in the morning and act fast... :cool:

+1. Any trader that disregards risk is a total idiot, period. End of story and case closed.

Here is an example of a triple top followed by a strong breakdown on the Australian Dollar (against the US Dollar - Daily chart)

Nope, because you cannot define the market with a mathematical formula, that would be too easy. However, looking for triple tops with a strong breakdown confirmation is a good place to start.

Rule number 1: Trading is all about risk management (assuming your trading system has a statistical edge to begin with, of course). Disregard risk and you will end up in the poor house, sooner or later. Took me a decade to understand that simple fact.

The guy is a total amateur. He even said that trend following techniques - and technical analysis in general - are for losers.

So if you just play Red, you will have a 24.32% advantage over the house, correct?

Thanks for the tip but personally, as a Forex trader, I did not notice any change as far the profitability/drawdown of my system are concerned, despite all that talk about how HFT is "changing" the game and "screwing" the traders (?!?). I mean a trend is still a trend, a support/resistance is...

Excellent answer Wide Tailz. Now replace the $3 by the word spread (and/or commissions) and you will understand why the overwhelming majority of traders lose in the long run. PS: Here is my original question... Tradester123, suppose we play a Head or Tail game with a perfectly balanced...

Dear NoDoji: The coin is perfectly balanced. Would you play such a game? PS: Always a pleasure to talk to you, you are a master trader, as far as I can tell :)

As you can see, nobody is answering this very simple question...

Tradester123, suppose we play a Head or Tail game. The rules are very simple: If Tails comes up you win $100, otherwise you lose $100. But. You have to pay me $3 just to play this game. In the long run, do you think you will make money playing/betting that way? As you can see, very simple...

Good luck but be careful, on the 4H charts, the USD/JPY is forming a bearish engulfing pattern at resistance area....