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I have a feeling you are going to get an earful from Spydertrader just for asking these questions :)

Maybe news was released, maybe an area of resistance that is being busted through (with buyers stepping up and shorts covering). Maybe a massive buy program hit. Who knows. All you know is now the dynamics of the stock has changed and you must change with it to get in sync.

Pm'ed ya

A few things right off the bat. 1. Scalping NYSE via the Open Book with buyers stepping up/sellers stepping down no longer works consistently. The OB is more or less a joke now, it cannot be relied on like it used to be. If you are gonna trade NYSE I suggest learning/focusing on intraday...

If you watch price action long enough and pay close attention to the way it ebbs and flows, you will learn to identify areas of support/resistance naturally. You'll learn to "feel" the push and pull of buyers and sellers. It just takes a lot of screen time and a sharp eye.

As always, very clearly explained. Thanks!

I'm glad you brought this up, the blue box illustration. Is it possible that the Chicago PMI # that was released at 9:45 caused this price action? I think a 9:45 economic release is also pretty atypical.

Bundle, Thanks for your very precise response, makes perfect sense to me! Steve

Thanks :)

I agree that my chart isnt fully annotated the way it should be, I do realize that #1 on the chart is an FTT of the carry over channel from the previous day (the way I drew it at least, which is to say it may not be correct :) ). Regardless though, I want to make sure my understanding of the...

Yeah, I read that and it got me thinking about this scenario and I hope that Spyder might comment on whether this example is what he meant by that or not.

I have a question about a scenario from Tues Jan 29th. The chart is attached. Based on the three pieces that I annotated (R\/R, #1, #2). I've concocted the following scenario. Hopefully someone can comment on whether I have the right thinking or am totally off. I see the R\/R fully...

Are you looking to invest or short term trade? You need to be more specific.

But this sell point you listed, while it worked, is also due to the Mich Sentiment report that came out. I would have liked to see that level touched like that but not due to news. Thoughts?

John, thats impressive, 49 yrs old and able to trade that actively. My hat is off to you. But like you said you do it b/c of you supreme hate for risk. I, myself, dont love risk and I certainly try to lower risk as much as I can while choosing entries. But the bottom line is, risk is part of...

Its all about r/r. If you are scalping and you are risking 3 cents to make at least 6, you have a nice 2:1. Same thing applies to longer intraday frames. I may risk, .15/.20 but am looking to make .30-.40 (stock dependent of course). The key is you have to know what you are doing when you...

Yes the specialist is FAR less involved, the price moves are far more erratic and the r/r, the way i see it anyways, is skewed and not in my favor. I have moved to trading longer intraday time frames, identifying more meaningful setups taking less trades and letting trades play out more than I...

The days of scalping the NYSE min to min seem to be over, take a slightly longer term approach, take less trades but make those trade that you do take, more meaningful. You can make the same (or more) by making more quality trades intraday and churning less. It just takes some getting used to.

I'd rather not discuss that stuff out in the open, my rates, payout % etc.

So with $1000 up (like you said) and 20X (like you said) that means you only have 20k BP right? But on another thread you said you do 80k-100k a day, I am assuming you are trading really cheap stocks right?