Trading extremes is just one way of looking at the market.. The market usually never look the same everyday.. So you have to study all market behaviors.. Trading extremes will work today but what about tomorrow? Do you know how to trade if the market isn't making extremes? Trading extremes can...
I really don't understand your question about when price penetrates a level.. Are trying to find out if the level going to hold ? What time frames are you looking at? 1min and what else?
Kp,
What I learned from my years of trading and doing research is nobody is going to tell you exactly how they trade.. So if you are waiting for that then you are wasting your time.. Trading isn't simple.. The reason why having a plan (a system) is very important, is because without it, it will...
Now this is what I'm talking about.. A nice example of your method ;).. Are you looking at the 5 min chart to make your decisions? And if the price goes below the 10 sma will you still take a trade?
That chart isn't helping no one.. Where's the bigger picture? Why are you taking those trades? Are you waiting for price to hit a moving average? Come on now you should know better than this...
Just because you don't view trading as a business doesn't mean it's not a business.. If im trading fulltime and paying my bills with the money I make then what do you call that?.. Only profitable fulltime traders know what I mean..We take things more serious then others.. It's no hobby to us. ...
Nope.. This is how I know you are lost ..Pivots, Fibs , trendlines aren't PA.. RN, can you please send this guy to PA school please, because I don't have the patience.. PA means price action... I'm reading price and the patterns that price creates..
I don't use pivots, fibs, or s/r.. I rather use a naked chart with maybe one moving average.. But that doesn't mean people aren't making money from pivots, fibs, or s/r..
It's not a belief.. It's actually how I make my money from the market.. I'm sorry you aren't willing to learn PA. PA isn't about a candle stick that's name Dojis, pin bars etc.. Very sad that you think like this..
Are you related to marketsurfer and experienceJoe? Because you have the if I can't do it nobody can do it attitude.. Very sad... I hate college and I think it's a waste of time for me, but I wouldn't tell anyone not to go there or if you do go there you are wasting your time..
Here's another person that is mad about not being a successful home day trader.. Don't worry man, there's always real estate or maybe you can be a porn star..