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And the losers last forever.

Assuming he's not happy with the extent of this drawdown, one can assume that the plan doesn't allow for it. Therefore, strictly following the plan may not be the best course. Of course, if he's not following it to begin with . . . (and I love the Scrooge McDuck :))

As I said, if nobody had the balls, price wouldn't fall. Sellers have to lower the ask in order to attract buyers. If buyers don't bite, price stays right where it is. If there happens to be a retracement, it never confirms, which is a big gotcha when it comes to retracements.

If you mean the low that confirms the retracement, a great many people have the balls. That's why the price falls. If they didn't, price would rise and you'd be in the red.

Put together a thoroughly-tested and consistently-profitable trading plan, then follow it.

I was wondering how long you'd be able to resist posting to this thread :) Hope everything is going well.

Most of whom would last maybe a week.

You're assuming that anyone ever did. Other than an exaggerated sense of self-importance (witness his self-congratulatory egofest threads), there's nothing to distinguish him from his followers, few though they may be, except for the possibility that some of them are actually nice though easily...

You may want to limit that to members who are actually successful traders . . .

Not surprised. However, by seeing his trades in what actually was real time, if in fact you could see his charts and his trades, you saw in real time whether or not he could do it. This is the ONLY way of determining whether or not the guru can trade. Anyone who's been online since the 90s knows...

And you won't unless and until you find a trading room in which 1. you can see the moderating trader’s charts in real time. 2. you can see the trades entered in real time either through the moderator’s order dom or chart trader or some method where it is apparent that the trade was entered...

I think I want to hear more about your experiences with this :)

Depends on whether you're reading trader posts or troll posts. At least this sort of question helps to distinguish between those who have trading plans and those who don't (though I can vouch for wrb; I suspect he just gets tired of these kinds of questions).

Apparently they were without trading plans. Which is hardly unusual.

According to my plan, I wouldn't enter at all as it's far too late. I'd wait for the trend to break then either take the reversal if provided with that opportunity or bracket trades on either side of the range if the reversal op is not offered. If you want to know how all this works out in...

If you were just sitting there at your screen and saw this and entered a trade without a trading plan, then whatever money you made, if any, would be pure luck. Whatever money you lost would be the result of not trading according to plan. If you had one.

"Wheat" being those who are experienced and profitable traders and "chaff" being trolls. And, yes, separating the two is easy. Not fool-proof. But easy.

It's so easy to separate the wheat from the chaff.

True. Trolls will of course latch onto the "rule" rather than note that I said "mine". One can use MAXOs. Or a stochastic. Or the RSI. Or any other of the umpteen oscillators. Or one can use a time stop. Or place a bracket order and go for a bike ride. What matters is having a rule whose results...

This is where a thread such as this bumps up against the probability issue (see game's probability thread). A very great many traders can't wrap their heads around the fact that each moment in the market is unique with the concept that one can nonetheless anticipate moves with an acceptable...