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There are different ways to creating the top and bottom lines of channels and ranges. One way is to draw them where they best embody most of the price action. Generally, you will have overshoots on the top or bottom or both. Another way is, say on the top side you get two points. Draw a...

A day trader has to drill himself on the mechanics (strategies and tactics)until they become second nature or the amount of energy expended in the heat of trading will drain you and colosal mistakes will result. That is why I tell people SIM..SIM..SIM. Trading is a very high performance...

A day trader has to drill himself on the mechanics (strategies and tactics)until they become second nature or the amount of energy expended in the heat of trading will drain you and colosal mistakes will result. That is why I tell people SIM..SIM..SIM. Trading is a very high performance...

There are few endeavors in life that exact more high performance, discipline, excellence, and determination to succeed than trading. You can be the best you gifting allows you to be and still lose 40% of the time. But if you win 60%.............

That is true. It is a broad bear channel on a 24 hr chart. It is a range on a RTH's chart my post #678. Look again at my chart in post#678 and your bear channel chart right after my post. I am not sure what trade of mine you are talking about trade 5 or trade 6 but either way both trades are in...

That is correct on a smaller TF it is a PB that that then continued back down closing low. Basically a kind of up then down move on a 1 min chart. Here it on 5 min in red circle and the same action in red circle on the second chart which is 1 min.

I never was able to grasp and understand to apply his concepts but I will hand him this He gave freely. I never saw him charge a dime. And I never believed him to be a nut case like some do. Did he pass away from sickness or just old age? I heard he had passed.

Hilarious! But adequate.

That is precisely the problem with trying to program an algo to trade PA. Too many parameters/conditions for the software. The human brain is 100’s of times more powerful picking out and reading patterns. Algo’s will work for a while then quit working. Discretionary PA trading will be with us...

SPBT =Small pullback trend, or SPBTD = small pb trend day. To further distinguish SPBL = small pb bull trend, SPBR = small pb bear trend. Example: The chart below is a SPBR (small pb bear trend) : ES or MES stays below 20 ema the entire session until just before the close. Strong bearish...

Trends will always reverse at some point. They have too. But there is such a thing As inertia in the markets that push to MM’s. And PA will Likely Indicate, with decent probability, when a trend is ending. Also when it is starting. A trader has to keep in mind the market cycle for the larger...

One of the strongest trends are SPBT. They can be grindingly slow but they are very strong and can last the entire RTH session. It is program buying. Bullish institutions are buying. Every bear attempt to reverse is erased. In the ES these SPBT happen about 3 times or so a month.

Actionable info? Look at the previous size of the PB’s from the left side of his gray box as price draws out the chart to 10 a.m. There are at least 8 PB’s ..all tiny except that last multi-leg pb Starting around 0400 to 0600 before the big spike up around 10:00. From left side of box from...

I’m not sure you understand what I was talking about. I was referring to retraces to MA in small pullback bear trends or small pb bull trends. in your case the chart is simply a broad bear channel broad enough to have legs of trends within it. Your just channel trading. Going long at the bottom...

What TF you using in your chart is it RTH chart or a 24 hour chart? and is it mes or ES? Often it can be both A channel and a range. Furthermore price is ALWAYS in a channel. Will explain later.

Here is my last trade just before the close. Will explain the trades better later on. It was a 4 contract straight short scalp.

I got to go paint but will address your question later.

Well first it wasn't a monopoly revenge trade LOL. It was just a matter of seeing I was on the wrong side and taking my loss and doubling up and going the other way. It is a procedure I follow. No, I would not have exited where I did. I jumped out of the shower and tried to change things...

I would generally add first averaging down contract 1 point higher (if I was looking to average down) than my original entry, which would bump up my BE 2 ticks. I would add another contract two or 3 points higher from my new BE. That too would bump my BE up. I would add another contract 3 points...

I suppose I should clarify. Sometimes I speak of shorting in the top 1/4 and a range and sometimes in the top 1/3. The difference is one's capacity to take on heat. If a conservative trader then top 1/4 is probably better. I will often start averaging down short in the top 1/3.