SunTrader

Use the quote bottom next time (lower right corner of post) so we can understand what is your words and what are the words of someone else. Thnx. Also it helps for brevity and clarity to only quote (of a long post) only what is needed to get the point across.

Many valid points, especially:

Finding tops and bottoms definitely is more important but it wasn't the question. In any case P&F is good in hindsight.

So just how common is this then? Eyeballing a one minute chart with an ATR set to 1 shows 10% or less bars with a 4 ticks available. Nevermind 6 ticks opportunities. I guess you also have a generous definition of "scalping" and are looking beyond seconds or a minute or two?

Define it whatever way you want but I prefer: "Scalpers attempt to act like traditional market makers or specialists. To make the spread means to buy at the Bid price and sell at the Ask price, in order to gain the bid/ask difference. This procedure allows for profit even when the bid and ask don't move at all, as long as there are traders who are willing to take market prices. It normally involves establishing and liquidating a position quickly, usually within minutes or even seconds. The role of a scalper is actually the role of market makers or specialists who are to maintain the liquidity and order flow of a product of a market"

Its been said previously buying on the bid, selling on the offer. Or inside, if possible. MA crossovers, swing pivots or take out previous high/low or whatever that chart is showing is not the exact process. Micro or very short term trading but not scalping.

Life and trading would be so easy if only I could convince other traders to coordinate price movement to form a channel more often especially when counting current waves. And not by looking at historical data. EWI is great at theory. And even they sometimes botch it.

Start with 1+1 then and let me know when you are done. Because I sure am.

At the risk of repeating myself - over and over. :doh: No overall win rate (other than can't go over 100%) or winning individual trade is too high(depending on how long trade is held). It is the combination. Repeat combination of the two. High win rate with high winners. Horse racing like trading is another form of gambling. Life is a gamble. Everything is so don't misunderstand my use of the word gamble. Doesn't bother me in the least. At the track you can bet on the favorite or on the long shot. Favorites win more often but pay out less, longshots rarely win but when they do they pay big. Now why is that? Might it have something to do with the math involved, i.e. how much the track takes in and can afford to pay out but still make a profit? Hmmm.

Then I guess we are living in parallel worlds? Spooking.

Might be your idea but it is not even close to the real deal.

You are? Whole lotta nothing. Well besides opinions anyway.

Yes true. I was having browser issues that day or something and realized after the fact - too late to edit.

Lucky he received the random winning lottery ticket. You missed the point then. :doh: :o Laughing with, not at you.

There is no such thing in this world. It is the random nature of how most things happen that one cannot point to a particular reason why it did. A common example, that has happened many times, is of winning the lottery with a quickpick ticket after someone else got out of the cashier line to "get one last item". That other person would not have gotten the winning ticket. It was a random computer-generated set of numbers at that particular micro-second moment. So one person before or after is a completely different moment in time - no luck good or bad involved.

EW is like any technique. Works some of the time, some of the times not. The fanatics believe there is always a wave count present. Just a matter of finding it and labeling it.:doh: Mystery X and Y waves, and elaborate 5 wave corrections. Prector will believe this going to the end of his own personal 5th wave.

Now I see from your pic and screen name - Steve, right. I realized years ago it is not necessary to watch for exact tick moves to be successful. Or take multiple trades in a day, Not my style. And for the most part for most traders not realistic. Up early on a west coast saturday morning. Good trading.

Ok so I should not have said literally every freakin' time to a zone and not tick. Yes sometimes it can be to the tick. But how do you determine which it will be, IN ADVANCE, when it matters.

Low tick/high tick data points are not for the most part support and resistance levels. Stop running locations probably. S/R are zones and not exact points on a chart.

And the teenage picture is .... someone else or ..... not current?

Well I have yet to hear of a single trading child prodigy so unless that photo is of your son or yourself many years ago explain how much trading experience exactly you have?

Der Fatherland: I believed you years ago when you said you had good grades - financial kind. Der Son: Yes I did have good grades - A+ (fingers crossed behind his back). :doh: Der Fatherland: Now I will be glad if can get to a C- Der Son: Using the same scoring method (smoke and mirrors) no problem. Der Fatherland: Good, now if only the bond market buys it. And Merkozy backs it up with some kind of guarantee otherwise it is .... Der fault. :helloooo:

If you are trying to make a point .......... it helps to make a point. Not spelling it out does nothing. The fact that markets are dynamic should be obvious to anyone who has stared at a chart for more than a minute or two.

The math of reality. Knock 'em dead kiddo. Own the world when you are done. In the meantime google terms like: probabilty theory, bell curve, statistical analysis etc.

As always a chart would help to visualize things because I'm not following you when you say bring stop to break even once position reaches 0.75 retracement - for longs. Are you another one of those who draw their fibs upside down? Because fibs drawn on a retrace of upmove will show levels of 0.250 / 0.382 / 0.500 / 0.618 / 0.750 in descending order. Or do you then draw another fib retrace of downmove which inverts those levels and use them to determine profit points? Also I think there is a typo RSI < 50 for both up and down trends (?). And specific reward to risk ratios are met only if the market allows for it.