Great post Bundy. Shortening stops as a method makes you the 'weak hand'.

Another way to grow your nut faster is to broaden your view, look at he big picture and understand that draw down happens - it is the natural flow of the market - love it, don't hate it, because you are being presented an opportunity to add into a position..

How many times have we seen price react on a PPZ, start on towards the next major PPZ, only to retrace a few times while getting there? Could it be that the natural flow of the market is giving you a golden chance to add in?

I'll tell you this much - Keep your stops back and when the market is taking a direction, go with it and look to add into your position.

Finding your way to freedom 1% (or less) at a time - well, it will likely remain a dream.

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I'm pretty much done with all this ...

Counter trend trading is what this method is all about -

Think of what you look for - bars at extremes. Does not sound like a trend trade to me. It works, but you gotta be very careful. I never met a long term trader who made his fortune counter trend. I'm sure they are out there, but I do meet trend traders who are just flush.

When we learn to add into trends and be patient with them, your account will inflate dramatically.

But - there are 100's of ways to make money in the market. 100's and 100's of them.

None of them work though, until we stop looking at the market as if it were an enemy.

"The market took my stop"
"The market whipped me out"
"That was a head fake"

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I'm pretty much done with all this ...

I think you are missing my point Dan. But thanks for participating.

Here is a question for anyone -

If 95% of traders fail, why is it that 95% of traders here are claiming success? Truth be told.. it ain't being told.

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I'm pretty much done with all this ...

Tell me - You and I can both trade an identical method - one of us wins and one of us loses. (more like 95% lose and 5% win, I'm just using me and you as an example to make a point.)

What was the difference between us? Same charts, same system, same capitalization.

The answer is obvious, it is your head - also known as psychology. You and I have seen people take the same dang bar - and lose money, while others are up multiple R. Psychology. Some like to say that you need mental toughness - big a big swinging dick of Forex. Whatever - let's call it what it is - Psychology. I seen you call it 'stupid' - well, is that not something the emanates from the mind? Like er..... psychology?

Even you have made posts to the effect of - "You see the setup and you simply take it. What is the big deal?" That is psychology. And why do people take highly marginal crap at times? Wishful thinking - or - psychology, of you will.

There is a lot of marginal material about the subject, which is too bad, because it is far more important than anyone ever believes.

Or try this on - Why is it that nearly every trader on this thread has decided that grabbing the first fractional part of an overall move is 'great'? Is it because they cannot endure the eventual pull back or even draw down after being up 1 or 2 R to even dream of much higher returns? That, my friend is psychology - AKA 'fear'. Think about it - if we get PA off of a PPZ, then what not sit back a bit and enjoy the ride to the other side? Fear.

Why does James himself repeated say that it is very unlikely anyone will make it until they capitalize a large account? Because of that very fear. The very act of growing an account 1R or fractions thereof is extraordinarily difficult. So he advises to demo trade until you have the money. Not a bad way to go - if you have a decade or a few to burn - or want to.

But what would happen, if you cleared the cobwebs a bit - and simply allowed the market to move - and you moved with it? With the PA knowledge taught here, we have a pretty good idea where price is headed - and it usually does not disappoint - does it? Being willing to endure a little drawdown can yield huge rewards. Learning to exploit a trend - long or short in duration with adding in or reentry into it can rapidly build an account.

But it takes a very different mindset to do this. Or dare I say, psychology.

But what the heck do I know.

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I'm pretty much done with all this ...

I'll echo differently what Bundy told ya - places for bars are more important than the bars themselves.

If you take note of solid areas of support and resistance - horizontally, and on trend lines, you'll be amazed how often price approaches these places, and reverses. spend a few weeks just looking at these areas, and you'll be firmly convinced.

A well formed bar simply provides more margin of safety on a trade. Many more experienced hands don't get all that worked up over bar beauty. And then again, some must have it perfect. It all depends on your relationship you build with the market. As for me - location trumps everything. Bar form is secondary. Once you start to see things with your own eyes, you'll see the market clearly and it will become a friend.

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I'm pretty much done with all this ...