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same here

Looks like Steve Austin also made a career change.... must be getting tough at WWE:D http://www.lombardstreetresearch.co...count_team.html

Sounds like you don't like your job. My advice is to find a job you like and you'll be happy with, then learn to swing trade.

Follow your heart... and i suspect it pointing to Chicago. Have fun and do what you think will make you happy, not what you think will make you successful... That I think is the secret of success. (And if you fail, hell at least you had fun!)

You are hereby awarded the "Best Post I've Seen Today" prize.

To OP: Quit your boring job, find a job you enjoy, and swing/position trade. The bulk of swing trading is waiting and looking at charts, so there's no reason not to work another job.

Of course the Visa IPO is overhyped. IPO's are designed to make as much money for the company as possible and are therefore sold to the public at the highest price possible.

U.S. Jan. PPI rises 1% on energy and food Year-over-year increase highest since 1981 http://www.marketwatch.com/news/story/economic-report-us-jan-ppi/story.aspx?guid=%7B424344AE%2DEB68%2D4BDA%2DB31F%2D4AFFE5506FA3%7D&dist=hplatest

I agree prices do not move in a straight line but in cycles. But I don't see any reason why prices should retrace in fibonacci numbers or why there are 5 primary waves, etc. Other technical concepts such as support and resistance, chart patterns, etc. have logical explanations.

I don't understand why fibonacci and elliot should work. The only explanation I've ever heard is "these numbers (waves) are occur regularly in nature", which sounds a bit like astrology and crop circles to me.

I thought +5%:confused:

I respect your opinion. But let me turn the question around: why trade futures when there are ETFs? 1. as you say 75% of price action is dependent on overall market action so instead of trading say wheat and corn, you can trade DBA. 2. future contracts have an expiration so rolling over is...

Because there are times when one sector is trending while other sectors and the overall market are not. Besides there are also non-equity ETFs such as TLT for bonds and DBC for commodities, etc. Take a look at the chart of DBC and compare its trend to ES. “Everything should be made...

For ETFs: Smaller size, easier to scale up Sector and industry ETFs trend better Greater variety

Sorry, I have to disagree... The trader would be the "goose that lays the golden egg":D

Let me clarify. By staying out of the market, i meant waiting for the right time to enter.

I understand showing off the fancy cars and all, but cutting your shoelaces with scissors coz your in a hurry? That's a bit too much for me. Only on television...

Readers often mistake "sitting tight" as holding on to a position. But Livermore explained in How to Trade Stocks that this meant staying out of the market.

Happens to me all the time.... right before a huge loss:cool:

"It was never the thinking that made the big money for me, it was the sitting. Got that? My sitting tight!"