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Hello kteria, Welcome above the trading journey. Trading is a good career. Here is my opinion: 1. Determine what style of trading you want to do. Day Trading or Swing Trading. 2. If Day Trading, find books or trading courses on day trading. 3. If Swing Trading, find books or trading...

wrbtrader, You provided a good comment here. Well written. I have learned that indicators are not bad, if they are logical used to help me as extra confirmation of price direction for the timeframe I trade.

Hello BearTrades, I have used EMAs for extra confirmation. I suggest you back test for 100 trades and see what happens.

Hello trend2009, Merry Christmas to you and family Thanks for response. I currently manual back test price action setups. Yes it's a lot of work, but I get chart experience as well and helps my quick decision making skills and other ideas. I only backtest for 100 to 300 trades to see if...

trend2009, Thank you. I am back testing manually now. I have to work on having more rigorously plan for exiting and entry. How many manual backtesting trades do your recommend to prove I have consitent profitable stratgies? Thanks

Hello trend2009, Explain what you mean by systematic research?

BearTrades, Would you agree that if the trader put in the "right time" the trader can suceed? I agree on the experience.

Morning maxinger, This is very true, from my own trading journey, I am seeing the more I practice with seriousness and record notes, the better I become, even at just self discovery. I would add one more important thing here : Obtain Quality Logical Trading Education. Even typing "Quality...

Hello volpri, Thank you for responding. Take your time volpri, no rush at all. Thanks,

Here is another example with entry options I have to decide. My question is , if I want to monitor my risk and keep risk within 20-25 ticks per trade, is it valid to go with option Entry Option 2. Both entries have the same stop loss. Normally I would trade with Entry option 1, but my risk...

Hello volpri, Sorry for the confusing. This case if for entering long only. 1st green dot is to place limit entry so stop loss is within 20 ticks. 2nd green do is to buy the close of big gren bar, but my risk is about 47 ticks. The next option would be to wait for a pull back at...

Did you compare the results of your system now versus just sticking to your plan in 2000 and riding it out? How much you be up had you stick with your plan in 2000?

I think for long term investing, its best to just buy the S&P 500 index every two weeks until your account reaches +$1 Million dollors. And then go enjoy the life and trade part time or full time. Trying to predict long term whats going to happen the market seems like alot of work.

Thanks for the post, Regarding decision making on reward per trade. I am also experimenting with using ATR indicator to decide the profit target. Initally, I had the mindset of I will exit every trade at 10 ticks no matter what. However, after some testing Irealized saw that my stop loss...

Hello volpri, Please provide me some logical responses to some challenges I face while doing some manual back testing. I trade intraday, 3 minute chart, price action, but only with trend of the moment. I do not like buying bottoms or selling tops. I believe in high probability trades which...

Thank you so incredibly much writing this up for me. I am work now, and will fully read and comprehend your post and respond soon. Thanks

Hello volpri, Please give me your thoughts on scalping using price action concepts. When I say scalping, I mean risk bigger than reward on some trades. I ask because I think I found a method I like to trade using price action where I can extract 10 ticks twice a day, but my risk is about 20...

Hello volpri, I just found your journal and we talked before regarding price action concepts. The answer is 2)

trustedsource, Thank you trustedsource. It is always good to read a balance of comments from all types of traders. very good post you provided. However, what you said there really inspire me to stick to my own lane and Believe in my own trading skills. I am sticking to my 1 lot and how I trade...

Very thoughtful response. Why do you say forget trading 1 contract and sizing up gradually? I trade intraday with 1 contract. I are you suggesting trading 1 contract and gradually going up in contract size delays the big money earning?