Initially I was in agreement with that statement but now I'm going to have to say that you are dead wrong. This guy has an ego bigger than Jupiter and I pity the people that intently absorb his advice in PM's not directly involving the direct following of price action. Thread's about helping struggling traders...it's not about listening to someone who just shows up and trys to play God. ~Cx
Looks like this thread is going the way of all threads here on ET. Signing off. It was good while it lasted. Bing
Yo, Absolutely, I will post one a little later tonight showing exactly what I did and my reasoning, I look for these everyday though I don't get um all the time Cheers
ST, Here is your chart with one of my PA tools. You want proof of efficiency, here it is big guy. Now, are you still more efficient than that ? Anek
Ok, Here is my .75 risk and 4.25 gain trade that I did today. Of course they don't always work but the r/r is awesome and you have lots of things going in your favour: 1) trading with the trend 2) at a 40 - 50% retrace area 3) Prior pivot support area (resistance if it was a short) Hope it helps, cheers http://i1.tinypic.com/5zekok6.png Note: This went .50 agains't me which is the most I would want the support area violated before it turns up, hence the .75 stop. I do this with most of my trades. Where I think there is support or resistance I will usually set my stop .75 above or below this area just incase they do a little stop run .25 - .50
To all those who are trashing this thread, please move on. The intention on the thread is not to see whos more accurate and whos got what trading style. If your style works for you then GREAT for you. Let everyone else learn from those who are trying to teach something to those who are starting their journey. There is a THOUSAND right ways to trade and THREE thousand ways to do it wrong. If you have nothing good to contribute in a polite way, we would appreciate if you be quiet and move on to other threads. Your method is not the only one that works, there are plenty of methods that do. This is a thread for struggling traders so allow them to evaluate some usefull tools so that each of them can find the method that works for them. Its people like this who really screw up interesting threads and that is the reason the most experienced ones dont wish to share. People put your EGOS in your pocket, this is a place to learn and teach not argue. Dont turn an interesting thread into something disgusting.
People who followed this journal from beginning know, that Stealth Trader contributed, and participated in this journal from the beginning. He had been nothing, but supportive of this journal. The only thing ST was complaining, was about Anek's flip flopping remarks about canned TA indicators, the same indicators that Anek had started the journal with. But in the course of communication, the two misunderstood each other. Happy following highs, and lows Schaefer