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I think the answer to the question is all of the above...Like alot of others have been saying, there are "layers" of S/R which all have different degrees of importance...I want to give credit where credit is due to Joseph Hart who describes one time frames ability to reverse the momentum of...

I specifically remember this day +/- 1 day in 1998 as the day the SP500 topped...Interesting thing about this statistical study by Yale Hirsch is that, if I am not mistaken, often times the market is in either a macro uptrend or at least in a minor uptrend from around the end of May...In other...

Like the rest of you, I spend some free time pricing out new systems and contemplating whether it is better to go with a desktop on steroids or to just opt for the workstation with the dual Xeon processors, dual hard drives, etc... The best site that I have come across as far as pricing out...

The conventional indicator to measure program trading has been TIKI...In the past 3-6 months, this indicator has had a markedly different pattern to it than I have seen in the past...Recently, instead of hitting the upper or lower band once, it will hit it 5,6,7 times in a row and often will...

In the above example I would rather have the "naked" strangle or straddle "capped" or "anchored" because no one knows how high the VIX can go...You also would have to have an exorbitant amount of margin to be naked index options ATM or slightly OTM(split strike)...Perhaps you could do a credit...

No one is trying to tick you off...But when the difference in commissions is that large I felt like commenting...And yes, as I mentioned in my post, I had used PFG Best back in 2000 for about 2 months and had a number of problems with it...Specifically, on three separate occasions my orders were...

One thing that I want to comment on in consideration of best trades is to make a distinction between the "best" as in managed best with a clear plan and perfect and flawless execution and "luckiest"...Five years ago when I started I would have never known the difference between the two as I was...

I used Brown & Co back in 1997 and 1998 and did alot of short term trading with them and was very happy with them until I started getting those absurd fills that were WAY out of line with the time and sales and what I SHOULD have gotten...This was also before the whole stock game was so popular...

My advice is to get out a spreadsheet and compare your number of trades and multiply that by your current commission and then multiply that by the $5 commission that can be had without any negotiating or any contact with a broker...And the argument that customer service is worth the extra cost...

LOL...I thought the same thing...Reminds me of the guy who was "serious profit trader looking for other money trader...serious inquiries only"...

BTW, the "hard work is sitting"...that is really on the money...and almost like a Livermore type of truism...The easiest thing to do alot of times is jump into the fray and get a "piece of the action", the hardest thing to do is sit patiently like a lion waiting for his prey to be most...

Darkhorse stated it very well, as usual.. There is nothing gained by not taking the risks individually and seeing how you react given any number of outcomes to one trade or a series of trades...It takes a long time to find your own "footprint" in the markets because you really do not who you...

yeah, but you missed the whole point...Cash is not talking about being a manager of a trading firm, he is talking about the at home self employed trader who lives in total anonymity...

I agree with the ideas that indifference in the short term is the best strategy coupled with longer term confidence..After all, you want to be confident that over time you will win, but you do not want to put all your faith or hope in each and every trade...

I would agree with Cash on this one...I thought it over for a few minutes, and although I could come up with careers that are very similar as pertains to dependency on others, nothing was really equivalent...I thought of professional golf(at the mini tour level) free of big endorsement deals...

It is EXACTLY like golf...That is how I think of it as well...There are guys on the mini tours and then there are the guys on the PGA Tour...But week in and week out, there is no guarantees(except endorsements and appearance fees for the PGA Tour players)...But, at the heart of it, every penny...

Regardless of what anyone says good or bad about some guy charging money for his "services", odds are good it is a scam...Even if the "advice" is good, it might not be good for you...What if the guy only trades breakouts and you are a natural fader, you might lose your mind listening to the guy...

Regardless of the common wisdom about shorting new highs, I still think that is a bull market philosophy, predicated exclusively on the fact that there is great BUYER momentum and not the simple fact that there is alot of COVERING momentum... So many of the once tried and tested rules that...

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I used to get his obnoxious e-mails at the end of the day with the all so typical "hey boys and girls, we called it again, we told you to look at 1085 and it hit right there and then reversed, blah, blah"...All the guy did was post some pretty obvious support and resistance levels and give you...