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Bob, I am a chart reader rather than an indicator follower. Therefore the observed price action on my charts need to have an observable synchronicity...this idea is at the heart of the spine and the vein...specific references to anatomy intended...essentially the spine is your slow ma and the vein is your fast ma...you can choose whatever gives you what you observe for example...price action should respect for the most part the spine and vein as support and resistance...it is not hard and should not be over analyzed...simple is the best...
Thank you for your explanation. And I assure you, your results are very good. If you can actually continue to hit your numbers and keep leveraging over time, you should be able to make a very large sum of money.
Lance, I think that is my focus to be able to repeat what I am doing for a number of months rather than go off looking to improve my results by changing anything...
Hi lance you have been an inspiration to me. And probably many others. Although I do not trade like you, I prefer to go for smallish targets. Unfortunately too many people seem to believe the only way to be successful in this business is to go for 20 pts ES trades, when three 6 pts trades is just as good without the drawdowns, and less emotional or stressful.
Keep doing what you do. And be successful as you have been.
Have to agree with @mrmuggins. Am sure there are many great threads on the forum. However some of the greatest talents of trading is present in this thread and I do love to read this thread. Taking out serious $s without large targets is an art and is really not a scalp if someone is taking 4 to 6pts per ES trade or what Lance does. Simply awesome.
I don't want to derail Lancelottrader's great thread, but given we both come from the same part of the world what time of the day are you trading the US markets eg in USA Eastern Sate time?
At present (while we are on day light saving) 10am USA ET is 4am in Auckland and I guess it is about 1am in Brisbane.
Yes, I actually use some of those as my setup. I have one called The False Break Overshoot Reversal. Here's one from today when price looked like it was breaking through a 00 number.
