Thanks for the encouragement

I remember those days when I first started. Having an account less than $25k and using day-trading tactics when you could only trade one stock per day and had to wait 3 or so days to trade again. Back then it didn’t bother me but now that would tie my hands so much as to make me useless! I never use full margin even now, but that’s because I over-focus on the risk-management side.

I’ve lived it both ways (extreme greed and fear) – take care of the risk and in time the profits will take care of themselves.

Thanks for the encouragement! It took me a while but there was no magic formula – it just came down to defining patterns objectively, seeing them (literally) hundreds of times, and then starting with small ‘toe-in-the-water’ positions and building from there.

It gets easier.

I like how you think – it sounds similar to my experience. I’ve tried different strategies and oscillator combinations but have now settled on a variation of hybrid methods and trade set-ups that I discuss frequently here and focus mainly on those.

Elliott is adding major benefits to my interpretation of price structure and projections and that has helped tremendously, but I’m learning even to cull Elliott back and focus on the ’sweet spots’ like you described and not be caught in minutae.

No one way is perfect and I encourage traders to develop their own hybrid methods developed through trial and error.

I love the network the blog is creating and the ideas from you all as well. I’m so happy and honored to be a part of it.

Keep the good work Corey, always a pleasure reading in the morning your last post!

The market spends most of the time as range-bound and those times are great for repetitive scalping using the oscillators. This is indeed the bread and butter of many day-traders.

I used to trade range-bound market but I used to get caught against the trend and found it hard to switch strategies in real-time, mainly because I have a one-track mind!

Now, by focusing on trends only, and by staying out during consolidations, my trading gives me less stress and I also have more free time.

I get interested in the market only for Elliott Waves 3, 5 and C. By leaving out waves A and 1, i.e. not trying to capture reversals, I avoid guessing of bottoms and tops. Also, I find waves 2 and B to be too flickering or “wavy”.

However, everyone should trade his own way, and not like anyone else, because that’s the only way we CAN trade.

Please keep up your good social work! It must be benefiting a lot of traders.