I really liked the original intent of the other practice ribbon that sought to bring traders together in a manner that promotes healthy discussion. Regrettably, the original practice failed because people believed it was a fantastic thought to be closed minded about what does and doesn't *work*.
The bottom line is that anyone who has exchanged a specific style for an elongated length of time, also has made money doing this, is, in terms of statistics, probably not making money because they're lucky. This much is incontrovertible.
As it goes, I was challenged to show exactly what I thought when I stated that price patterns alone are not the answer, but instead that price patterns hold a situational degree of value. I will attempt to focus my personal contributions to this practice in discussing that very issue only because it is exactly what I concentrate in.
I welcome all to include helpful points of discussion irrespective of the timeframe and style you trade within. The practice of the thread will be to get behind the legitimate significance of the various trading axioms we always see tossed around as well as to diagnose and possibly prescribe ways to get around issues that are common to all traders at one point or another.
Non 1kt members feel free to send me inquiries and they'll be posted for all to comment on. This thread will NOT be shut by me and it shall contain opinions from open minded people who understand that there's more than only 1 approach to trade. I learned how to do exactly what I do in a severe individual and that I take it very seriously myself. My mentor's resume includes Quantitative Design/Trading for the Fixed Income Derivatives desk at Morgan Stanley, Vice President Quantitative Design/Trading at FIMAT Futures USA, Soceite General, in Addition to a consultant for Risk Management with countless other companies. This Individual has edued at Boston College School of Law, University Michigan School of Business, and Many others.
With that said, let's get this started.