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True. One first has to know what a consolidation is and what it looks like. Should have said "experienced traders" know . . .

Again, it depends on the plan. With mine, you're stopped out twice. That's it. This is, of course, assuming that one is entering the chop at all. If one is already in the trade, then there's a different management question: at what point do I exit the trade rather than ride it out? Again, this...

In my trading plan, it's very simple: if I'm "stopped out"* of both sides of a trade sequentially, I'm in chop, or at least the beginning of chop (this signals the very beginning, so the characteristic range that is coincident with chop is not yet obvious to one who has no plan). This may...

Not necessarily. There are more than a few professionals who are happy to give it away, e.g., Linda Raschke and Vad Graifer. Even though BMT has many times the active members than ET (5:1 at the moment), the difference between ET and BMT is not the fee. The difference between BMT and ET is the...

I just have to emphasize this. It ought to be on a T-shirt.

:) :D Hindsight is a wonderful thing. And the smart guys get their hindsight in first. --Lee Child

Charts are merely another means of displaying transactions, like a T&S display, or a ticker tape. If "everyone who uses them seems to lose", it's most likely because they don't know what they're looking at and thus don't understand it and therefore don't know what to do with it.

Keep in mind that ms is a failed trader. He is currently a "manager". IOW, consider the source. And if he goes on about his "Report", remind him of all the exits with no entries and entries with no exits.

If he's been losing money for six years during a seven-year bull market, he's obviously on the wrong path. You may want to consider putting your money in an index fund. So might he. However, if you decide to trade, I suggest you investigate that link to trading plans. Without one, you'll fail.

And what does your brother have on his charts?

I suggest you investigate the link I provided in that newbie thread. Given that your brother has been losing for six years, I assume he has no trading plan. If he does, it clearly is inadequate.

It's just an illustration of price action leading up to the 0830 reports. I haven't traded at all this morning. P.S. I see you've been advised to stay away from charts and technical analysis (the study of price movement) and appear to have taken that advice to heart. If so, the SLA would be of...

I should point out that all the trolls are on my Ignore list. I have absolutely no desire to read anything they write. If they want to talk amongst themselves, they are welcome to do so. If nothing else, it's good publicity. As for being defended, I really don't need it. It should be obvious to...

Religion or philosophy or theory. The point is to focus on the market rather than the Self. The question regarding emotions remains unanswered, but it always is, so I'll just let it go again.

Because he thinks he's better/smarter than his own plan. When price begins to actually move, all bets are off All of your quotes imply that you mean something other than what you're saying, so I don't know what to reply to. What is the pertinence to trading? Again, what is there to get...

It's not a matter of suppression nor of bringing it to fruition simply by talking about it. If just talking about something were enough, alcoholism, for example, would cease to exist. But this point is made by the author later in the article. In any case, this is not about becoming immersed in...

I've said it before, and I'm going to say it again, because it cannot be overemphasized: the most important change in my trading career occurred when I learned to DIVORCE MY EGO FROM THE TRADE. Trading is a psychological game. Most people think that they're playing against the market, but the...

If it's followed. A great many people don't. It's easier to abandon if it doesn't exist. What one is abandoning is the perception. As for trading emotionlessly, why not? What is there to get emotional about?

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