Its not an automated trading system. Therefore, of course folks will apply it differently because folks are different, folks will use different stops because they have different money management rules, folks will have different profit targets because they have different expectations...its not a automated system. In fact, I do remember not too long ago I specifically asked you if you're using an automated trading system. Your reply was NO. Therefore, that means your trade method is also arbitrary unless you mislead me with the "no" reply. Serious question...is there something mentally wrong with you or you just that ignorant of a person. There's folks on twitter and stocktwits posting real-time trades and they use SLA, Wyckoff and many other trade ideas discussed by the scribbles. Simply, you're behaving as if this is something new and untested. Its not, its been around long before the existence of Elitetrader.com Therefore, I will suspect your comments is directed at someone specific that doesn't want to play your ridiculous prove to me game while others are doing exactly what you say isn't happening. By the way, why would you make another ignorant "sell you" comparison when in fact you know you didn't pay a penny to access those trade method threads here at ET that you're crying about. Simply, its a freely shared trade method here. Only thing you're coughing up is your time and energy to try it. Yet, if you don't like the messengers (scribbles) here that's sharing the method...you can always go to Youtube, Twitter and Stocktwits to find others that do share trade management rules, live calls, real trade verification and such instead of crying like a lost baby here at Elitetrader.com I'm beginning to think you're just some lazy old bugger that doesn't know how to do his own research about SLA, Wyckoff outside of Elitetrader.com This isn't the only online place that discusses trading. Time for you to think outside the box you seem to be stuck inside. You obvious do not know the difference between real mentoring versus threads at ET where folks share their trade methods. Lets put it this way, nobody gives free mentoring...its just too time consuming, requires one on one live conversations, trading together, constant daily education and lots of money (it ain't cheap). In fact, the typical mentoring service charges easily a few thousand dollars. That fact along with the fact that you didn't pay a penny to access Elitetrader.com threads by anyone freely sharing their trade method will imply you are not being mentored by anyone. If you don't believe me or really just don't understand...here's another freely shared trade method thread called The ACD Method @ http://www.elitetrader.com/et/index.php?threads/the-acd-method.170318/ Now click on the above link and tell me how much money they charged you...a few hundred dollars...a few thousand dollars or is it just free to read/discuss/apply. Also, tell me if you're being "mentored" and tell me what's your opinion about the trade management rules being shared in that thread...sometimes different trade management rules depending upon the person learning the method. My guess you should have a beef with them too and you should then be able to make your "selling" comparisons, "educators" comparisons and such. If you don't do the above...it will be obvious your beef is just with Dbphoenix because he's able to see your B.S. You're just a pathetic person hanging out in folks threads about their trade method that they are freely sharing with others. I only call you pathetic because you obviously don't like folks here at ET that share their methods along with your replies all over ET that you're method (it is arbitrary) is the preferred way to trade and your consistently implying things that just isn't true...the latter makes you look like a liar. Simply, the method is free and there are a few hundred threads here at ET where folks that share their trade methods did in fact advocate trailing stops and many other trade management rules. To imply such otherwise...only continues cementing the fact that you're either ignorant, a liar or both.
My trading system is not arbitrary. The hallmark of my system is prudent money management. I never go outside of a set percentage of TLNW. This is the correct foundation of any successful method of trading.
However, there is no advocacy of prudent money management as the most important aspect of trading and this is paramount to successful trading. This is the foundation upon which every great trading plan must be built. --And it's missing.
Nobody has stated money management is not important. Also, I've specifically seen the scribbles discuss elsewhere here at ET the importance of money management. Thus, you're barking up the wrong tree especially considering my first reply to you listed many variables (e.g. proper capitalization) as being equally important. I've also discuss as a reply to you elsewhere here at ET the equally importance of money management. Therefore, its not missing. You're just too darn lazy to read folks messages properly before sounding off. You expect every advice someone has ever written at ET will be layed out for you in one single message post or every time they discuss a trade method...that's absolutely ridiculous. Thus, if Dbphoenix discussed the importance of money management to someone last year...why should he need to keep repeating it every time he talks about a trade method here at ET...how many times must he talk about it ? Isn't a few times enough for you ? Therefore, I will now assume you have a reading problem. You're now on my ignore (ignorant) list...good riddance.
Here is a chart from a recent posting by a scribble student. Looking at the chart you can easily see that a classic reversal occurred at the low with fresh upside momentum. The scribbles are drawn arbitrarily and in hindsight and do not lend themselves to enabling an entry or exit. Rather, the momentum defines the entry on both the earlier short and the trade near the low. The scribble method offers no advantage over simple momentum. The main thing to look at on this chart though is that there is no analysis of, nor notation of, where stops would be placed. It appears that the artist here has a concern about being right, but not managing the trade. This is a huge vacuum that exists with scribble trading.
Those who've actually studied the material know where to enter and where to exit. To BS, however, it's all a mystery. By the way, each of my threads has received over two hundred views (that's each) since you started this. Keep it up, by all means.
So after a failed BO above the range, we pass back through it and below it. And RTH don't even begin for another two hours. That's the kind of trouble I welcome.