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This Aug 2 deadline is absolute nonsense. It's turbo tax cheat Geithners artificial timetable geared more toward our politicians vacation schedule and getting the hell out of DC than any contrived bullshite default. The bills will be paid, behind the scene networking with Moody's will be done...

+1 great advice. I started trading the ES exclusively some time ago and have never looked back. I'm out of stocks completely. The tax advantages are hard to pass up.

jesus h christ guys, these sob stories are so avoidable. Trading is not rocket science. Yeah, I lost money in the beginning but not enough to put me in the poor house or declare bankruptcy. Like anything else, I stuck to it and developed discipline and now I make a nice living relatively stress...

Don't use or rely on indicators. Trade a naked chart with intraday support and resistance, it's all you need. It's old school and it works. Period.

I worked at every shitty job there was when I was in high school... short order cook on the graveyard shift on the weekends dealing with drunks and idiots, carpenters helper, plumbers helper (once had to clean out the basement of a MacDonalds whose toilet busted), paperboy (try collecting from...

This is an entertaining thread and most of it full of absolute crap by people who have never been successful at trading. As I see it, these are some of the most common traits of traders who fail: 1. They don't know how or when to take a loss. 2. They don't know how or when to take a profit...

It's pretty much objective, although sometimes it can be subjective depending on your rules. I trade nothing but the ES on a 500 tick chart but I also monitor higher tick frames for an overall look. There is some art to it, but for the most part, the chart will scream at you to take a trade. I...

Sure, I use recent historical levels I see that price made on my highest time frame especially if price has made significant moves but for the most part, I use intraday levels for my bread and butter. I don't use charting programs or any sort of calculations to arrive at S/R. It's on the chart...

Your definition is not a classic S and R trading method at least from my perspective. I have no idea where the 50 or 200 MA are in the ES and I couldn't care less. MA's, MACD's, Bollingers, etc... are all a function of price and they all lag. To me, their useless as tits on a bull so I don't put...

Forget everything else. Heed the advice. S and R trading is the simplest most straight forward way of trading you will ever find. Remove all indicators on your chart, use a rolling dynamic support and resistance, trade with discipline, your own set of rules and you will make money consistently...

NYSE TICK gets to -1000, your most likely gonna get a bounce. It's the only known leading indicator I'm aware of. I use it religiously for ES trading and it's consistently helped me make good money. Like anything, it's not 100%, but it's damn close.

Nope.. I went short at 34.25 looking for 33 to be broken which it was based on a descending triangle on a 500 tick chart. Covered at 32 on 10 contracts which means I'm kinda done for today. Probably could take more on the trade, but I don't go for home runs. I get my coin, I get out.

I see a perfectly formed descending triangle and watching price by volume. I trade very short term so my probabilities are for my trading timeline... yours may vary.

call me crazy, but me thinks this is setting up for a sell off.

Let the man speak for himself: <iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/qmndhS-Qf20" frameborder="0" allowfullscreen></iframe>

ascending triangle on the NQ.. descending on the ES... does that mean we close flat? lol

Early makings of a descending triangle... could be a sell off at close if 1325 doesn't hold. We'll see

The beauty and genius in Friedman's perspective is in the simplicity and common sense that only a great communicator can convey. The more you study Friedman, the more you slap yourself on the head and think..."of course! why didn't I see that before!"

Friedman was a genius and one of my economic heroes. The irony is Phil Donahue positioning an argument in direct contradiction to his own financial wealth. Donahue's liberal argument and philosophy stands in direct contrast to his success and the free market system for which he despises so much...

Trading the nyse tick today and took a couple of counter trades that worked out, but today is tighter than a drum.