G'Day @free Yourself , congratulations for getting through the...

G'Day @free Yourself , congratulations for getting through the entire thread.....that's a very good effort for sure.

And thanks for the kind words, I'm glad you found the thread worthwhile.

(Ive read MtM about 5 times, Trading in the Shadows a couple and now on to Trades about to Happen)
I sure that having an existing background in VSA/Wyckoff helped a fair bit as you worked your way through all the charting concepts.

You are not the only one.....I think most people would like to pick absolute bottoms and tops, including me.

It's definitely best to just take a slice of the middle if you can be disciplined enough (like Richard Wyckoff did to make his fortune).

But if the obsession with absolute highs and lows cannot be overcome, then best to make it work for you, and take on some of David Weis & Steve Phillips style, and come up with some trading rules around entries for trading either springs, or double bottoms (for the long side, and upthrusts and double tops for short entries). As they will get you in right down near a potential bottom, and keep risk quite low (because you will be able to have a relatively tight stop).
You may find you have to take a few false starts (stop outs), but they should be reasonably cheap with a fairly tight stop, and getting in at the lows should offer a large reward when you get it right.

Have you ever heard of Sebastian Manby ??
He was one of Tom Williams' initial proteges (along with Phillip Friston), both of whom became very successful traders (of very different timeframes).
He was a bit of a 'smarty pants' when he was younger, but now shy's away from the limelight, and is a more thoughtful and considered person/trader.
Anyway, a new video turned up this year, where Seb discusses being a proprietary trader, the disciplines it requires, the psychology involved, and although the audio is terrible (particularly at the start, but it gets a bit better), is probably worth listening to, so you have some sort of understanding of what the professional side is doing and thinking.



thanks again



cheers