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Inside Week so far. That means a lot more downside potential for tomorrow.

It's a trend day for sure. I want to give you kudos for shorting into the rally earlier this week and not wavering. There sure was a lot of bullish sentiment on the boards by Tuesday's Close. What gave you conviction?

Once again at the week’s RTH Open now. Key level for the rest of the week, IMO.

Now, a few hours later, this turned out very well as an illustration of what I'm talking about. The market (for me, that's e-mini S&P 500, but maybe it can be generalized to all markets) have many modes or states, so there's no one size fits all for all scenarios. Which is why like I said...

Maybe some complexity is called for anyway after all, then? To be honest, I'm not sure how much you'll learn from that kind of testing. I'm sure the input is limited and you're limiting yourself to basic classical indicators, I assume. Back-checking/testing charts manually I'm sure would be a...

Personally, I don't like it too wild. As long as it moves. :) However, I don't see volatility calming down anytime soon. Was that your prediction? According to @schizo things are going to get really wild some time later this year. I have no idea, but there seems to be too much going on in the...

Nice entry. You might just get lucky on that one. While we sold off a bit today, I don't think it was enough technical damage to negate new highs be end of this week.

Why not really good for day traders? The market's are moving around plenty so far this year. Just like last year. I'd say it's one of the best conditions for pure day trading in a long time. For me, the volatility is nice now coming in at a medium pace. Not too wild and certainly not too slow. :)

Well, if it works for you and you're making good money with this approach that's all that matters. No need to complicate things if simple answers and solutions are superior and workable.

No. I only suggested that as a strategy if I had conviction in the market moving higher eventually, but I was uncertain if we'd pull back or not and I wanted to make sure I got filled either way. Generally, I can and will use buy stop orders above market when price is moving lower in order to...

No, because I'm not countering that prediction. :) I may even say myself that we're going to 5K, but a lot will happen between here and 5K. I'm not making a big deal. At least that was not my intention. I was just asking what you were basing your view on and you replied that your 30 years...

More precisely, this week's Open was 4121.25 which is where the market bottomed out today to the tick.

No need to get defensive. I was just curious if you were basing it on something or if it was just shooting from the hip. In truth, I think anyone who tries to make any grand predictions in this climate will make a fool of themselves. In fact, you called for 4205 as today's HOD and that was...

Based on what?

Going short yesterday would have been a great idea. :) Like I said once already: only if you don't trade with leverage. Today's session proved that. This is not a set-it-and-forget it type of environment for leveraged trading at least. We're seeing consistently huge moves on a daily basis...

Both yes and no. I wouldn't say my trading is based on price action per se. I trade more based on levels and statistical data. By levels I don't mean drawing lines on my charts as a rule, but other type of levels. For example, this morning I posted that 65 could prove a hurdle to the upside on...

Generally, I don't go back any longer than 1 or 2 years mostly. I want to weigh the most recent past the most. Also, the kind of data I look at is mostly normalized. Think % change and not actual points. That's the only way to make a correct relative comparison. I'm not sure if you missed it or...

Exactly. We just left behind us a decade where nothing but the FED and central banks worldwide mattered as the world was flowing over with free money. That's not the case today. I closed down my charts and am on another computer, so stealing what I posted yesterday here, but I'm just thinking...

It would be too complex to give a single answer to that question. The simple answer would be that sometimes I enter right away while other times I wait for a pullback. Like I already said I think the answer to this question is very complex and it depends on market, time frame, leverage...

It's not that easy. Which is why I said the answer comes from detailed market knowledge, i.e., statistics of how your chosen market moves most of the time. For example, if you look at index futures or ES, it will very rarely move say 20 points without a solid pullback. ES is a market that...