Having traded for quite some years now, I can say that our BRAINS, as humans, have the ability to recognize patterns and setups that have seen in the past and form an "opinion" as to what trade to make. When such event occurs and my brain gives me the "trade", then without any hesitation I will start by placing a "Collar" position which makes known the "cost" of the trade right then and there. That "Collar" position is then adjusted as the "trade" develops. Keeping an eye on the "Options" volume and open interest further helps the "Brain" to recognize how the trade is progressing. Do I use any "indicators"? NO. I used to in the beginning, like anybody else (out of fear of the unknown and fear for my money). Some trading platforms, like the one I use from Interactive Brokers, have the ability to show with color if a price/volume/open interest is increasing (green), or decreasing (orange) from the previous value. That makes it extremely helpful for the "Brain" to make a decision as to how the "trade" is progressing. It would take someone some trading experience (of few painful years) to have one's "brain" reach that level, but eventually one will reach it hopefully still having money to continue to trade. One concept that has helped me a lot, and I have mentioned it here in past postings, is Rob Smith's "RevStrat" as he calls it. It has really made my life as a trader less painful and much more profitable. So there you have it, this is my "Holy Grail" in trading. Wishing everybody happy and profitable trading and keep looking at the price action, thus continuing your brain's training and eventually you will trade successfully.

an old piece I wrote on humility...

I was waxing nostalgic when I was reminded of one of my mentor's favorite precepts…

Not that it was anyone's business, and not that anyone really cared, but after the trading day was over, one was often asked matter-of-factly, "So how'd you do today?" Even back-in-the day (on the floor of all places) traders doled out socially acceptable responses to this very probing question. These responses were realistically based on a hierarchical assessment of one's intra-day p&l.

Ranging from bad to worse, were the losing days…

- they got me
- got killed
- at least I got my health

Ranging from good to better, were the winning days

- not a bad day
- got 'em
- had a nice week today

A gentleman never kisses and tells; and a trader does not provide full disclosure about his performance; the trader should instead exhibit humility. For those on the left, humility may be seen as political correctness by a different name, while those on the right may see it as a way of stifling free expression. However, like a poker player without a tell, one should never be able to discern if a trader had a good day or a bad one. A trader shouldn't whine, or proffer excuses on bad days; and there should be neither bragging, nor hubris tendered on the good ones.

Trading makes strange bedfellows. Individuals from disparate backgrounds with varying opinions, beliefs, and philosophies are brought together by their passion for profit. But, what should also unite them is a shared belief that humility is not only there to protect them, but is a kind of moral compass that should always remain a virtue.

There is no holly grail per se but there are certain tricks you learn with experience that come very close to it, unfortunately they too cannot eliminate losers.

There's no holy grail per se depends on your definition.
Why would you want to eliminate losers ? That's like being a Madoff.
The tricks that you learn with experience will then make YOU the holy grail.
There may not be a Holy Grail per se but maybe there are lots of holy grails.