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I belong to a trading network where you can see the traders results in %age terms and also hear what they say about their trades, strategy etc. This is quite good as you can see who is succeeding and who is failing. 1. The Dreamers. There is a fairly constant turnover of under capitalised...

Man I don't know what makes you think that the bottom is in. Have a look at the S&P weekly chart and see how many potential double bottoms you can see on the way down in 2002. VIX is a pretty useful indicator I'm still shorting against a] The previous days high, and b] The 3 days high. You...

Joe I try to keep it simple and trade price action, momentum, and S/R. I dont use any indictors but do draw a few lines [usually horizontal] on the charts. Strategies mainly: 1. Reversal ie a bounce off resistance [range or major] 2. Continuation from either pullback or congestion...

Thanks for the quick feedback it has helped me a great deal already. I've got another winning trade under my belt. Incognito - I agree its a maths/stats game, but I'm still working on the details. Eg consider the following trade.. Intitial Stop 50 Entry 100 Target 150 Risk reward at...

I'm into my second year of trading and have consistently traded with a high %age of winning trades but despite this I still have a real weakness. Last night I was in 2 trades that both came close to hitting my profit targets, but then both reversed and I ended up using a variety of methods...

Once the Fed is happy the banks are stable they will raise and continue to raise slowly but steadily. There will be a sell off in the markets [a final shift in wealth between weak and strong hands] that will probably mark the time to go long again. Watch for oil to come down closer to the...

Thansk for all the interesting comments FYI I've still got my old M3, which is still very good for going from A to B. But I had my big drawdown [I believe that this is the less emotional term for loss] before the new one was released. I actually went 3 months without having a losing trade...

By chance you would expect 50% of trades to be winners and 50% to be losers and through money management and placement of stops and targets you could reaosnlbly expect to be able to make profits orat least keep losses relatively small even including commissions and spreads. Many new traders...

My rationale for this is as follows: If you can identify what doesn't work then you are well on the to finding out what does work. I wont bore you with my life story but I made some money during the long bull run, switched to trading last year, made enough in the first 6 months to buy the...

Fed raising interest rates a couple of times would proabably achieve all that. May not be that great for equities in the short term though.

Agree with Mr Black, but have a couple of comments. Market can be 1. Trending HH, HL etc 2. Ranging or 3. Congested HH, LL etc As we can "easily" identify 1 and 3 any market that does not meet the criteria will be ranging. I find it useful to look at the momentum of the up and down...

Ive tried doing the same thing but found it quite difficult. 1. The market isn't normally distributed so you need to use non parametric stats. 2. The only decent long term numeric datasets are of the EOD high low open close variety and a lot of the devil for markets really is in the...

My 2c Zero chance of rate decrease. If FOMC do not raise or at least be very hawkish the USD will drop and US denominated commodities [oil gold] all will go up. The other central bankers IMF etc are all united in the fight against inflation. If the fed does raise or is extremely...

Thanks guys, Good to hear there are no conspiracy theories. I was sure about the liquidity in the gold market, in FX [a very liquid market] the liquidity dries up [or at least diminshes] around major announcements, and the movements can be similar, but to see this move on no announcement was...

I'm new to gold trading and was wondering why it would sell off in the absence of any news. I understand that gold is supposed to be heavily manipulated. In my view its likely that the sellers wanted the gold price to drop or they would have put the volume onto the market more slowly instead of...

Wouldn't read too much into it, probably spending as much just getting twice as many shares because they're now half the price. Bberg need something to write about... LOL

Baldur I understand your point but if you dont use stops for exiting an intra day trade how do you determine the exit point. I use stops as I see them as the lesser of 2 evils, but I am always open to a better suggestion. Cheers

Question for Swing Scalper and Incognito How do you determine support and reisitance? My view is that S/R is a zone rather than a point. I simply draw lines on the chart starting with 1 day then 1 hour and 15mins. For trades I look at the price action and take a position in the...

Looks like a nice set up for shorts tonight, S&P just above resistance, poor earnings, oil high, inflation high. If the fear sets in theres much that will hold the market up. If you remember there have been a cople of days that looked like they were going to be terrible but the fed bailed...

Jay Good informative post. Thanks. Steve