Win or lose 100 pips. Place your bets.

If a never lose system existed then it would have been discovered long ago by someone smarter than I am. You don't have to win every trade to end up profitable. I don't believe risk/reward had anything to do with you blowing up your account. Most likely you stopped trading and started hoping. Had you been trading, you would have exited with a small loss once you realized the trade was against you.

Yes of course, i couldn't agree more that every trade doesn't have to be a winner in order to be profitable.

Ok so what you are saying is; trader 1 with no stop loss and 60 take profit is more likely to succeed as a trader than trader 2 who has 30 stop loss and 60 take profit?

I didn't say that or imply that.

It sounded like it from this comment of yours:

Found a no repainting sr indicator. Now it's over 100 pips a day.

http://i43.tinypic.com/rsbkm1.gif

100 pips is nothing.

http://i42.tinypic.com/2efkc9z.gif

Also we can use candlestick signals for confirmation of trades.

Any point or advantage in using bar charts ?

This is very true, can't say it better. The time when I stopped thinking in risk/rewards I became successful. Markets can just do three things, they go up, they go down or they don't move. A trader using a stop of 500 and a tp of 10 can be much more successful than a trader with a stop of 10 pips and a tp of 10 pips. It's just simple math - probabilities.

What is important in this method is to focus on price movement at support and resistance areas. Gray bars are less distracting to me than colored bars on these charts.

My focus is on confirming that price has stopped breaking out and has started to reverse. Just have to catch one main reversal per day to grab 100+ pips.

Markets move. Sometimes they move a little and sometimes they move a lot.

Chances are you are like me and your account is not big enough to move the market. As Mark Douglas says we have to rely on others to move the market for us to make our trade a winner. If our system or method gives us an "edge" then what we must do is just trade when the setup or signal appears. Each trade is unique. Though the chart patterns may match exactly, one trade wins and the other loses because other people are involved and no indicator can tell us what the other traders will do.

After reading Mark's books and watching his video repeatedly, it has finally sunk in. Now, I can trade by flipping a coin. It's not about risk management at all. It's not even about money management. It's much simpler. If "heads" means to buy and "tails" means to sell short then you enter long when price is moving up and you enter short when price is going down. All you have to do is determine which way price is moving.

You know the feeling of entering a trade and having price move against you, don't you? Next time, before you enter a trade, first look and see where price is relative to the last bar or candle. See if price is reversing off the previous high or low, or if price is breaking through. Enter the trade after determining what price is doing. You will be amazed at your success.

http://i40.tinypic.com/atun7n.gif

Another win.

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100 pips.

http://i42.tinypic.com/nfh8hz.gif

where can we get this indicator and how to use??