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If your afraid, get out.

Wow. Pretty heavy stuff candle. While I'm not to hepped up on indicators, a couple of the traders that I admire the most, upon whose arses I would not make a pimple, use them religiously so I'll have to assume that I am the one whose knowledge is lacking.

Mockingbird I highly reccomend specializing on one stock or better yet, one tracker. I did not make any progress in my trading until I stopped running around like a chicken with its head cut off and settled on one instrument and a couple of basic setups. Even then it took awhile but I...

"Enough crumb begging " I agree. I'm in the process of checking out strategy #245388 from my books. Ain't got time for any more.

Hitman Why are you in such a hurry to up the ante? Much better to ease into size gradually. You got plenty of time.:)

My definition of tape reading is "watching the action". It can be time and sales. level 2 or charts or a combination. Whatever combination you use to monitor the market is the "tape" for you.

DEM "But still I'm looking for a clear statement: When to trade sup / res. and when to trade breakouts." You don't want much, do you? Nobody can answer that question for you Dem. You got learn the hard way, like everybody else. Sorry. :(

I got the impression from another post that Don wasnt all that great a trader in which case discussing strategies wouldnt be his forte. Did I read that wrong?

Harry I'm sure some people use them effectively but they drove me nuts. Its the same as making swing trading decisions off of one minutes charts as far as I'm concerned.

Fast Thanks for the input. I see your point. The thing is I have been deliberately trying to overcorrect. May backfire on me but we'll see. Weve got a ways to go for an H & S. I think the compq would have to take out 1650 to break the neckline but like you say, who knows what will happen.:)

My personal opinion is that if you are swingtrading or position trading, time and sales and level 11 are useless. I never use them. I used to try to use them to "get a better entry" but found it to be no better than 50/50. If you are doing anything other than scalping, t and s and level2 are...

Magna I qualified the statement with "for awhile".:) Checking the long term charts has always been part of my morning routine but a couple of weeks ago I stopped looking at anything past this last bottom and am keeping a sign near my computer that said "we're in an uptrend". I really think...

Up till recently I've been a heterotrader, trading one side of the market. I'm proud to say that I am now a bitrader. I had a good week and almost everything was from the long side. I cut my trading teeth on this bear market and shorting has been my entire game. I think the thing that was...

P2 I have both books. Did not find anything in them I hadn't read somewhere else. What you say about the way you trade is the way I feel. You can read every book out there but the best thing you can do is watch the market day in and day out until "intuition" developes. I think most good...

Zentrader My setup is kind of like that but in reverse. My wife gets the profits from my winning trades but I have to cover my losers.:D

Yeah. He's a legend in his own mind.

I miss the other home page. I really like being able to see all the latest posts at a glance.:(

I'm confused by this argument. Obviously different personalities in different situations prefer different accomodations.:confused:

When I first got my satellite setup I did a ping to taltrade in breathless anticipation of astounding results. Average 900ms.:D

I hope you are right.