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The "looked at" is a professional rejection of your claims, certainly applying to daytrading. Apart from ET, you sell your system to the public; thats the difference. :)

No offence to ProfitLogic but his system too doesn't work. It does not work as a complete and practical methodology, certainly not on a daytrading basis. I have looked at it. His central notion of higher highs and lower lows is old Dow Theory so its very old and not new. I noted in one of his...

For those with serious money who use and know about tax havens the Government is still unlikey to uncover many. What is currently happening is that so many who just hid untaxed money in a tax haven bank account in their own personal name were asking to get caught. Accordingly, as a...

I agree that you are gambling. Scalping, or short term target trading as I call it, requires a definite methodology to be a sustainable and successful strategy. The arena I prefer is not stocks but futures markets which can provide daily volatility and liquidity (eg CL). The rewards of a...

That would not be very wise. There are 2 parts. Firstly, do not leave a transaction trail that links to your personal name, otherwise don't do it. The second part is that you do not put the tax haven territory into a position where their authorities are forced to give up your personal name...

'For each action there is an equal and opposite reaction.' An individual should never have used his personal name for a foreign account to house dollars in the first place. I have no intention of spelling out the many necessary details and adjuncts but the key is the routing of the money...

HFT is not something that ET members do. Whilst HFT is controversial, there is at least an equal argument that HFT adds valuable liquidity. I side with this view. So far as markets in commodities and index futures are concerned, funds, investment bankers, institutions in general and...

Since being a member of ET I usually write on the same theme. Use the intraday gyrations of price. Buy the upmoves and sell the downmoves. You have to translate that into a reliable methodology. However, scalping would appear to have attractions for the amateur or new amateur. Instead of the...

The high failure rate of individual traders is not because they become overwhelmed by news and data such that they cannot keep up with it all. However this factor might be one that adds to the confusion of some or a few. The high failure rate is because it is simply beyond most new traders...

Please try not to be such an ignorant clown. The maximum of 937 points is just the total available for the day. How much, if any, captured by the player is down to the skill of that player in CL. In your case, stay away from CL; it requires skilful playing. :)

The question raised by this thread co-incides with a recent PM enquiry I received, namely what "is possible for a good retail trader to pull in terms of let's say the daily HL?" How many points can a trader make? How much is it possible to make in relation to the days HL range? Is it 6xHL or...

Day Traders 2.0: Wired, Angry and Loving It This is small time, modest, amateur, not professional and not going very far. Nevertheless I hope very much that it continues to work out for them. In contradistinction when you go into a liquid and volatile futures market (eg CL) you can get hold...

This thread has been revived and this is a subject worth revisiting hence this post by me. Firstly, as I have often written at ET, you cannot become a winner in trading without a successful methodology. Methodology is the key. But a temperament that makes you a successful trader is also...

No offence to the thread opener, but he has demonstrated ignorance as to what goes on in markets. One of the ways trading markets is looked at in big institutions, is profitability PER DAY. For the individual trader with limited capital the most efficient means to exploit markets is daytrading...

Your spectrum would not include the winners in this business. Day trading is not for anyone of the many with a weak mind or a weak personality or both. But that cannot be a surprise in any assessment of the endeavour usually required to achieve top success in most arenas of commercial or...

There is little to disagree with in this thread. The task is to make money daily. Weekly or longer term forays into markets may be a hobby for some amateurs but for a driven individual it is not a serious pursuit of making money as a daily, cumulative and serial process. That process is to...

The lesson of the housing bubble bust and consequental credit/banking crisis is not one you are going to hear from politicians. The reason is that are taking the route of avoiding the blame that lies with themselves and blaming the bankers. That is why the politicians are promoting more...

This is the correct advice. I have an executive and professional background in futures markets. In a corporate setting you have access to much that is necessary to propel your progress in this business. Raw amateurs coming to ET have access to nothing. Reading books and trying to pick up...

Well of course its still the same thing .. they just want their prediction to be right. But as well, they are not serious participants in a market. :)

In simplicity a breakout is price starting to go in the opposite direction to the previous direction and subsequently sustaining that new direction. So the only concern is that you want to be going with the new direction. A BO identification needs to distinguish itself from a retracement. In...