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On a related note, I'd like to emphasize yet again what a wonderful contrary indicator ET is. Does everyone remember all the top calling threads all the way up to 1060? Then, literally the DAY BEFORE the peak, the silly shorts on this forum threw in the towel... threads started like "just...

Cramer's job is to convince the retail idiots to do the exact opposite of what they should be doing. Someone has to take the other side of Goldman's trades.

Ha ha ha..... how long is this guy expecting his students to keep paying him? Even a newbie trader can see that there's a problem when the ES moves 30 points and you can't make more than $50! Jeez...

He's right about price action... if you learn how to trade that, you will always be able to make money no matter what the market is doing, and it is what the best intraday traders use. But make no mistake about it... learning to trade price action is the most difficult thing you can do in...

Well I don't know about other people, but I never suggested that your call for a drop to 1019 was out of the question, or in any way crazy. It has certainly happened pretty fast, so congrats on that one. My only point was your terminology of calling it "the" top. I think if you had avoided that...

Guys, he's just trolling for attention. He started the thread and hasn't commented on it since the first post... I think he just wants to see how many people he can get responses from. Why some people find this type of thing amusing, I will never understand.

Sounds a lot like a troll... this can't be a serious discussion.

I think that this is a clear cut case of you being in an emotional state right now that is not conducive to trading. If you try to do ANY trading while you are feeling this way, it is likely that you will continue to take losses. You need to be clear and calm to make money, and if there is...

I don't... I just use standard charts and read the signals straight from there... you get used to it. If you want a VSA charting package though, I would get tradeguider. I think they have a new version coming out in a few months...

Well I don't disagree with your trading range assumption... that seems to be the most likely thing as well from my perspective. Luckily I only trade intraday so all of these discussions are purely academic for me.

Alright... well for starters one of your problems is obviously trading with too much size. The reason people trade with too much size is because they are impatient. They want to make more money faster, so they scale up too fast, and can't handle it. That's when emotions come into play. Had you...

Let me ask you: Do you understand, on a gut level, exactly WHY this system works? Or is it just a magic black box that someone gave you? If you don't understand the system, and WHY these trades make sense (or do not make sense), then you are not going to be able to follow it, because you...

A few things: 1. Practicing on a sim is not about practicing the system, it is about practicing your EXECUTION of the system. You obviously are not executing this system properly, and THAT is what you need to practice. If you can trade this for 3 months and make consistent profits, then go...

And one more thing, just a tip. You should always know how far your chosen market likes to run. How many times have you seen the S&P run 20 points in a single day? Go back and count, there are lots. How many times have you seen it run 30 points? Not many. If you got short near the bottom, you...

If it gets to be a crowded short, there ain't gonna be nothin' rangebound about it. The last time we got a crowded short was in early July!

I wasn't specifically extolling the virtues of Fibs, but you can hardly call a decline to a uptrend line "the" top, and that's all a decline to 1020 or so would be. But in any case, this is all kind of pointless... let's just trade what we see instead of trying to make predictions...

Are you a consistently profitable trader yet? We both know the answer to that question is NO. If you were, you wouldn't be in a trading room, and you wouldn't be asking questions on this site. You said that you "would have lost" $1300 if you had followed your rules, but instead you lost a lot...

We could still get there. This rally is not over yet... we could decline all the way to 1020 and still not break the trendline from March. Take into account a minor false break below 1000 to get everyone nice and short, and we could see another huge covering rally. Of course this is all a long...

I think that a more relevant definition of "the" top would be a high that holds as we get at a very minimum a 38% retracement of the move from 666, in other words a move down to 920 or so. Take a look at the attached picture... you will see how insignificant a decline to 1019 really is in...

Yes, volatility is definitely increasing... I love it! We are nearing the top, but I don't know if I would call 1075 "the" final high just yet. The next few days and weeks will tell the tale...