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You can buy the highs, sell the lows or Sell the highs and buy the lows. Pros and cons on both ways. Both make money.

breakdown players would be short here.

If your trading a $300 million dollar book and you bat 50% you make 15-25% year.

A few years back, I witnessed a trader average down $3 million into the red and then said lets go get lunch. When we came back he was up $9 million plus. He told me, I always average into a 1% loss and make 3%.

You will know when it's time to move from market taker to market maker.

You've got linear (the trend) and nonlinear (the volatility). Use them. Gaps are filled for a reason. When, we don't know. But market makers can hold trades on their books longer than most retail traders can. Perhaps there are a few here.

That all depends on what you are trading. Hard to deploy certain account size for a single trader and be able to monitor it all.

Thing is, when your account gets to a certain $ amount, you will have to average up and down. Small accounts can continue doing very well just playing the breakouts.

Greed and fear.

Manipulation at it's finest. You think these boys are playing breakouts with billions to move in the markets? Watch what happens under 1493.

why should we turn @ 1506.75, and we still have 1493 dangling. The answer lies not in why gaps occur but why do they get filled.

Seeing what is important in life before realizing it. Experience is a bitch, only teaches you after the fact...

Can anyone take a shot as to why we should trade back to 1493? BTW, avarus = wave. Superstitious I guess. 665 posts. Why take the chance.

Fill back to 1493.

LOL fatrat. "The Canadian land and resources are much more pristine." and now you want to pollute them with your "American" ideas? Find peace within yourself first. Stop being an American fatrat. Sorry, but your post was truly ironic.

we should see 1375 then 1150 .

Yes

How about a signed copy of Market Wizards Book?

Proximo - This may be the turn back to 1375. Buy the October lows. http://www.elitetrader.com/vb/showthread.php?s=&postid=1594491#post1594491

The math must be sound. If it's not you will sleep with the fish. Those who blow up doing it this way are the ones whose account does not support the position sizing required. Your account size must be able to support a 10% gap against your position and not blink an eye. Takes money to...