Real time calls with or without screenshots is the only way to hold one's feet to the fire. My trades are posted in real time always with stops posted as well. I am comfortable with people seeing the losing trades. I am never long and short at the same time. Ever.
I do completely agree that trade management is highly important. This isn't the only thing they leave out though, so I'm not surprised in the slightest. I've already noted many times that 40D is all over the place with his trade management. He says he takes half of his position off at 5 points, and another half at 10 points, etc. Then he says he keeps at least something left that either goes to breakeven or for an end of the day run. But of course, none of this was ever reflected in the few trade confirmations he showed where he only had one entry and one exit for over 30 points. Hey, no problem about switching up the strategy based on current market conditions, but to say you're always doing something one way, and then it being obvious that this is never the case is highly misleading.
Ok... well I do remember a few days ago that Db pointed this out, but I didn't follow up with actually confirming this for myself.
Ok.. one last chart. I hope you don't mind me posting it here B1S2, but its just like you take other people's charts to comment on them so I assume this is ok! So here is that wonderful chart that 40D posted about how breakout 4 was different. But if I use the method that he has used in the past to trace out the price action that is happening within these 5 min bars, you see price shoot up, and make a high above the level. Then price comes back down and price closes in the middle of the bar which I call a low. Price opens on the next bar (the red one) and goes up a bit higher, but forms a lower high. Then it comes down, and break the previous low (which is where it opened), and therefore makes a lower low. This is a classic entry point for a short as a failed breakout... no? I mean 40D is looking at ticks here. He showed me a lower low on my 5 sec chart I posted way back when so this tracing that I've done absolutely qualifies. So as I crudely illustrate, this has all the makings for a short... was one taken? If he took it, and scatched it quickly, and then took the long, that is some good trading. And this is what I would believe if I understand what he is trying to show. But there is no mention of any of this. All that he means to imply is that somehow the long was obvious on this 4th breakout, and no mention of any other possible trades.
Welcome to post others charts with annotations. Personal attacks though, no. I have added my method to the chart without using RSI. I would rather have it on here to see just how strong the moves and turns can be though. It helps me see the picture better. Let me know your thoughts. I think by now with people having seen my method that the sell signal at #2 is obvious as well. I added stops for trade management. SLA scribble method educators charts don't mention specifics about stop outs, if at all. By the way,there would be no reason to remove part of the trade and have a runner. The whole thing could be left alone to the top
Honestly, when you draw a circle around three 5 minute bars and that circle is a good 4 points high, I have no idea where you intend your entry to be, and your exit doesn't make much sense other than the fact that its at the highest point of the chart! LOL
Entries and exits are always at the closing price of the bar in the middle of the circle. Trades would be taken 5 to 10 seconds before the end of the bar. This is especially helpful on days with reports etc. Just as on the daily chart that I trade, I use a market order a minute or two prior to end of day.
Because I wait until bar is nearly finished, I will never get the exact tick of a high or low. That's what I mean by fresh momentum. I will however let a trade run to make more than just a few points. I want the middle of the move. You should know---that's what the scribblers are doing as well.--Waiting for turns and fresh momentum. There is no advantage to using the scribble method over other methods.