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Virgins and volcanos.

Remember, though, that HTMMIS was written 30yrs ago. G&D was written after the '29 crash, so adjustments have to be made. The "buy high" thing worked just fine in the 80s and 90s, not so much thereafter (like hardly at all). G&D made much more sense after the first bubble ended. At the beginning...

Smart. Make your own.

If I remember correctly, this is what Mark Parry used to do (wrbtrader) and maybe still does.

All charts are tick charts. The only difference is how the individual trader bundles the ticks.

You will also very likely be too late to take advantage of it. Take care not to be looking at too much.

O'N might be called the poor man's G&D. All O'N cares about is earnings on the fundamental side. And he may have a point, particularly today when there is so much "creative accounting". Granted earnings are manipulated just as much today as any other aspect of fundamentals (the beating estimates...

Understandable. This takes some getting used to.

Thank you J. I'll take you out for a spin. :)

That's it. And don't be surprised by a lot of churning at the median of this little range.

And here you are at 4360. See how it works? At this point, one can either short a rejection of the UL or buy a brkout thru the UL.

And nothing wrong with that. The longer you sit there staring at it, the more likely you are to get impatient and exit unnecessarily. If nothing else, you can turn your attention to some other instrument while the NQ trade percolates.

No, where you bought. And since your stop was at 40 you wouldn't have been out anything unless you raised your stop. My question had to do with how long you were willing to give the trade to "ripen". You bought at the end of the 90m it spent at 43+/-. What if you had bought at the same price...

Yes. I get a new car when it rolls over.

Just out of curiosity, the NQ had been hugging 43 for 90m by the time you bought. What if you had bought earlier? How long would you have held it before abandoning the trade? Or would you have just walked away and left it to itself?

A thoroughly-tested and consistently-profitable trading plan. (Surprise!)

Macro to micro, just as I illustrated, the most important being the range prior to the NY open, as this shows where buyers are not willing to pay the ask (pink) and where sellers are not willing to lower it (blue). As for management, you can use a followstop if you like, which gets you out if...

I posted it to illustrate that a consistently-profitable trading plan, even if it's indicators or automated or whatever, requires a structure. Otherwise, one is essentially trading randomly by "feel". The range is shown in the image I posted above.

:) See above.

A suggested structure: