Like many other high-level disciplines, you can't break many trading rules and be really successful. To trade at the 100%/year level, you have to play it pretty straight, be pretty disciplined, put the incredible amount of available trash information aside.
When the pattern occurs, you act. You don't wait to confirm. There's only one safe point to enter when you know the next day will be up, and that is today. And although there are very few patterns which actually work, they have to be bought in context - in correct market position. Low-risk points occur only after significant corrections and extended flats; you buy in context. Patience is a necessity, but then the trading year contains 250 days - a small eternity to a trader.
This is an unusually important installment at New Breed. It lists the most common mistakes made which keep would-be traders from making real money. If you have traded real-time, from real experience, you will not be disappointed.
New Breed of Stock Trader