I don't want to hijack Schizo's excellent journal, and I do not want to get into a debate or argument. I would like to note, however, that I do not agree with this stance. In fact, I think it is harmful to one's attempts to learn to trade price action. I am a firm believer that price action is learned by watching, not by lecture or reading a book. That doesn't mean that books, courses, videos, etc. cannot be helpful. I myself have benefited from a number of sources. But it was and remains my willingness to stop trading occasionally and just watch every tick from open to close that has been the source of my own "something." Also, if from others you are only looking for set-ups or "how-to's," you will miss other elements that would likely be more helpful to you over the long run because these elements are not obvious to the one still searching for "set-ups." @i am nobody has shared a number of elements that I have found extremely advantageous to me. None of them have anything to do with where and when and under what circumstances to enter - at least not directly, i.e. he gives no "set-ups." But what he does give is, in my opinion, much more valuable. Set ups are a dime a dozen, in my opinion. Heck, even marketsurfer seems to have a vague recognition that merely selling the close of a bear bar or buying the close of a bull bar might have an edge (he would be horrified, no doubt, to discover that doing just that does have an edge if you add the concept of trend to the practice - but he will never suffer that horror so long as he denies the existence of "trend"). There is much in @i am nobody 's posts that I have found to be of great value. And I have read them all. I actually have a word doc of "cuts and pastes" I have collected from his posts. There is not one set up among them, and yet quite a few of his ideas have found their way into my latest trading plan.
Despite the drastic market bounce today, I was feeling rather complacent. I guess the intensity of yesterday's trading completely drained me. So I didn't plan on trading, but...being a noob that I am...I went against my better judgment and made two trades, both short that ended as losers. As such, this day ends with a Loss of 6.50 points or $325 for the day. Code: Today's Trade Stat No. of Trades (Round-trip)*: 2 No. of Winners: 0 No. of Losers: 2 W/L Ratio: 0.00 Avg Gain: 0 Avg Loss: 3.25 Cumulative P/L: -6.50 Points * Breakeven trades have been omitted $300 Daily Challenge (1/04/16 - 1/29/16) Winning Days (>= $300): 6 Losing Days (< $300): 3
IAmNobody doesn't doesn't look at chart patterns or draw lines on charts or draw ranges or anything else that is accossiated with 'price action'. He trades mathematical models