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Bulls are trying hard to push it up. Will they succeed? It is doubtful. But then again they may. Uncertainty. Markets gravitate towards uncertainty.

Do the markets stay the same on each and every day?

Perhaps for a quick scalp of 1 or two points. Odds favor a slide down.

So what is a trader supposed to do?

Discipline is being responsible to do what you are supposed to do, when you are supposed to do it, how you are supposed to do it, all the while paying attention to detail and doing all the above even when you don't feel like it.

Every successful trader trades on the basis of logical rules otherwise they are gambling and trading on emotions such as hope or fear...etc.

Ok. i gotta go algofly..however, i think we may be agreeing in many many ways. But there is uncertainty.

Hft's are responsible for about 70% of daily vol in say the ES, other institutions such a hedge funds..banks..pension funds...etc make up about 25%. We, the retail traders, make up about 5%. The markets are a battle between the bullish institutions and the bearish institutions. They are more...

There is a danger to rules. A BIG danger. One can fall into the trap of trading their rules and not trading the market.

Now that is interesting. Now we are talking about probability which is the best anyone can hope for. Plans and rules don't necessarily make the markets. Irregardless of our plans or rules markets are always probing for value. Bulls are trying to drive it up..bears down. Effects on price movement...

Reliable rules cannot exist. If they did everyone would eventually use them and there would be no one to take the other side of a trade. This is upsetting to traders who seem to think that if they can JUST come up with a reliable set of rules then the game of trading will become profitable for...

Rules can serve as guidelines but that is it. Traders think if they can just get a good set of rules up and and have the discipline to stick to them they will make money. Not so. Think about it logically for a moment. Why is it that there can be no set of rules that are consistently reliable?

Yes, that is one reason it is so hard to learn to make money because even if one BE one is still losing. A trader is starting off a trade in the negative. In the Es a scalper has to make at least 1 point on the average trade to even make it worthwhile because of the comm...etc. But generally to...

Trading is a zero sum game. It is impossible to have a zero sum game... like trading ...where rules consistently work. There, now I have opened a big can of worms!

:thumbsup::thumbsup:

ok gotta go algofly. Can't say i'd blame him. I might ignore me too.

I understand buy1s2 is trying apply something old to him in a new environment so one cannot judge the effectiveness on 1 trade that loses 7 points but it is a crying shame his methodolgy won't allow him to grab some good profits when the markets gives them to him. Maybe he is fine tuning his...

I would make haste and look for a reason to short not go long. At least not at this moment. Of course i can change my mind before you can say scat.

Well i hand that to you. You had the discipline to trade your rules. Well you did fudge a bit on the SL but that was understandable considering the situation. I wouldn't say you traded the markets but you certainley traded your rules. You must be trying to apply price rotation on intraday markets.

Ok but where to? To the middle of the bear channel or a huge B.O. above that bear channel?