Search results

Johnny, you're risking 20 points for a move unlikely to go 20 if favorable.

:sneaky:

5% for non-securitized junk paper?....no thanks.

"If you can't explain it simply, you don't understand it well enough." -Albert Einstein

The markets are not real cooperative with respect to replication.

DeMark and Sperandeo are both strong technicians but they draw lines where they recognize S/R. The point is, there is no wrong way, only the way that works for you....experiment. As I stated, I use MA's for similar function. If I also drew lines, my charts would become too noisy.

Yes and even those can "cluster" and form zones. Markets do not conform to geometric certainty and one develops over time the ability to see support and resistance areas in real time. I use MA's to serve as dynamic S/R levels...it works for me.

Here is my large time frame, the 4500 tick....THIS is what a good trading day looks like

..Shown are tonight's charts (500 tick) with and without the "gap". I set my charts at 24 hours as I find actual price action more useful than where "gaps" may exist, especially in today's 24 hour markets.

Ahhh Zap Comics...a tear of nostalgia.

Yes, anyone looking for a recipe book will be disappointed. In fact anyone looking for a recipe book anywhere will be disappointed. Trading takes work and time to develop something that works for YOU.

If you shot all the liars in Washington, there wouldn't be anybody left.

Startibartfast, that W & S dialogue sounded like something straight out of a Samuel Beckett play :D

There may be any number of ways to day trade, but I have been a day trader for 18 years and all the profitable (among the many non-profitable) traders I have known, which are many, use charts. I also don't know any, certainly to include myself who took less than some amount of years to master this.

Markets do what they do. If you have a trade plan with a positive expectancy, simply take your signals and observe your rules.

"A champion is someone who gets up when he can't." - Jack Dempsey

Gotta love Groucho

"Nearly all men can stand adversity, but if you want to test a man's character, give him power." -Abraham Lincoln