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Yea, no way we are gonna go down, we have to have another go at resistance, so far it has been visited once and tested once. Not enough before giving up.

Day-traders should care! Otherwise they might never take advantage of overnight position initiation. As I said countless times before I think we bottomed. We could retrace back 10-15 points on ES but that's the worst case scenario.

Well I don't trade options on indices but I rarely hear of anyone who trade them for intraday swings. And anyway you can't just look at the leverage they offer: you are paying for that leverage. The underlying has not only to move in your direction in order for you to profit from the...

Sign of quick thinking! :)

Trading options intraday can be suicidal and the risk:reward ratio really stinks. Everytime you are wrong your losses are amplified and everytime you enter a position you are committed making it difficult for you to exit the trade and increasing the likelihood of running huge losses. Options...

That is a problem sometimes for me, I am not extremely accurate with my entries and sometimes I don't wait for a retest of the first test bar/candle. Am I always to give for granted that that price will be retested? Or do you mean you want to enter during the formation of first test bar?

Charles--like your approach and I trade also off SR and pivots, fading them on weak days. Our techniques are pretty similar but I'll have to admit it's pretty easy to see pivots and SR with insight and trading off SR can be easier said than done. On the other hand I think this is the way...

Charles--do you always wait for consolidation to confirm support or do you sometimes enter after a steep decline and maybe at the first reversal sign ( i.e: bull engulf. patt./ hammer, positive price action )? In this case by placing tight stops if I you are wrong you will know it immediately...

I was referring to another firm not to IB and I never speculated anything, I was just mentioning my experience. As a matter of fact I have good consideration of IB.

All right then. :) Now that comes up to my mind, have you ever traded ASX stock via DA? If so can you tell me what's usually the spread and commisions?

Have you got some good qualifications? That would help make your way up the ladder and you may skip the 'be a clerk while you settle' deal.

b...bump? :)

As it has been all year round.

I said earlier that I had the unpleasant experience in the past with a firm trying to defraud my account, it wasn't a lot of money but if it was a million dollar account the matter would have been seen under a total different angle. I think the guy has every right to be pissed.

So it is 'tradeable'. Nevertheless I'd like to know what would be the advantage of trading SPI over other indices and stocks. Especially after I started this thread showing an interest on volatile securities. After all I was asked why I didn't trade this instrument....

He was referring to an email he thought was sent to him, not to his problems with $$$.

:confused:

Forgive me, didn't know that. Though, I was looking for volatility, is SPI a big mover?

Ok, ok, I'll put my sword down! :)

Forget about last question I saw it is also listed on NYSE