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Ahhh, I thought I recognized a bit of the Socratic Method in your style NYSE. And of course you are right, “What the hell does someone know, who has never experienced the reality of the situation”. However, with your focus on ‘Mr. Bud’, might I rephrase my larger point. A trader...

Does anyone know where the “95% failure rate” stat comes from? I see this posted all over this site and I have a hard time believing it. Not that I don't think it takes a special talent/psyche to do this ... but it's not rocket science either. In fact, I know several traders who have been...

You may find multiple trends in multiple time frames, but strong order flow is ultimatly what you're looking for. When multiple time frames from 1 to 20 days confirm a directional bias, you can expect strong follow through. Understanding the buying/selling pressure at such a point in time...

I day trade and swing, why not do both? The difference is largely the time frame. There’s no doubt you make bigger bucks swinging, but it takes longer for a good setup to develop. And while I’ll make as much in 3 days swinging as I’ll make in 3 weeks day trading, at least the day...

Exactly! "the rise is great, but the fall is worse" This is why I gave up cocaine!!!:eek:

It's from the link that I posted earlier in the thread.

No. Try for yourself overlaying the UYG/SKF or URE/SRS or any other set of Long/Short leveraged ETFs. You will see that both sides of the trade trail off into losses.:(

Okay, let’s be a little more specific about how a leveraged ETF works. In order to deliver the 2x results that the fund’s investors expect, fund management has to hold equal proportions of debt and equity at all times. In other words, if there’s $100m invested in the fund, it has to...

Over the past 6 months the XLF is down 12%, but the SKF is down 53.78%. How can a double short of the a financial index be down so much more than the long???:(

These are purely day trading instruments! Looking at the technicals for these products over any period of time more than a day is pointless. Read: http://seekingalpha.com/article/31195-leveraged-etfs-a-value-destruction-trap

It is "obvious", that a chart displays MARKET SENTIMENT, which as I said has not really been mentioned much during this thread ... perhaps because it is sooooo "obvious". What is not so obvious is the answer to the question, "So, Mr. Market how are you feeling today?" Perhaps the 90% that...

Kudos AllOrNothing! Can't see how you can get closer than that! Also, thought that I'd add something that is "obvious", but has not really been mentioned much during this thread. Charts like this and various other indicators are, for the most part, simply tools for displaying MARKET...

... and your chart looks like a vertical OHLC. Potential double bottom, similar to what we saw on the S&P MID OCT. – MID. NOV ‘08 .:cool:

“Why is the obvious, not so obvious?” … because most look outside themselves for the answers! As a trader, it is important to learn all you can from various sources, (i.e. ‘Experts’, ‘Systems’, ‘Rules’ etc.), but in the end, it is YOUR skills, YOUR discipline, YOUR...

The Clinton administration's "BANK AFFIRMATIVE ACTION" forced banks to make BAD LOANS. This is indeed how it began. The Sarbanes-Oxley Act of 2002 brought a new standard of regulation to the banks. But what good is more regulation if the government is going to undermine your efforts. Click...

That's the ticket. Do the analysis and set a reasonable limit as a target. If there's momentum, you may want to change to a trailing stop after your target is hit. Should a head & shoulders develop and the move weaken, change it to a tight stop. Maybe you'll get lucky, maybe you wont, but...

Yeah, thanks! Regarding Item 1, if I have to put more down than 25% on 1.5M, then I'm drawing down on my bank. It's really a psychological issue since I'll be replenishing my savings with those funds. Personally, I need a lot of cash to retain a comfort zone when trading. Regarding items...

See, I can do that and show over 200K annually for the past 2-3 yrs. But it's all capital gains. Also, my balance sheet is great! I can put down 25% on a 1.5M apartment without touching my bank. Maybe if I tell them I'm an 'Investor' that would be enough? Still like the LLC idea, but I...

My wife and I have had this conversation many times. For better or for worse, we're married to Manhattan. My lease is up at the end of September. If I can’t find a great deal, I’ll just renew, no big deal. Everyone is so pessimistic in the city now! “Do you think it’s too late to...

I can't tell you how many times I've heard that. It just seems like there's more inventory with Co-ops. But duly noted!