DislikedIts a bit annoying when you spend time studying someones posts, then you are told they blew 2 accounts using it, although I think Tia's quote may be from when before he used J16. Tia?
Regards
ChatziIgnored
The way Jim does it, is to wait for a huge daily price action bar straddling a round number, then he plays a pullback within that bar to the round number (especially when confluent with a PPZ or an EMA) with a tight stop on daily only. As always, patience and pickiness apply. In this way, touch trading is not a dead end at all.
Also, most people go for touch trading to increase their opportunities and increase their R multiples. Sadly it often increases the account depletion process.
I know one guy on PF who trades pretty much dailies only with price action and makes an astronomical return a month. He's grown an account from $1000 to nearly $150,000. There are many approaches on the daily (like the touch trade scenario I outlined above) which can produce incredible results. It starts with waiting for the best setups, and then during the course of that, different ways of approaching things become very clear.
No apology needed. My post wasn't directed at you personally by any means. Just a general frustration with the flow here recently, and an echo of what Seeking Light picked up on.