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Do you even know how to read a chart? Even at your "target price of 1150", it's still higher than it dropped to after the dot com bust. I didn't see "mass unemployment, high inflation and the other little nice things that characterized the 1970s....1930s" when that happened either. The dot com...

OMFG you are Sooooo right. I need to liquidate my assets, get all of my money out of the bank, convert everything to gold, head for the hills and prepare for the impending apocalypse. Thanks so much for setting me straight. Before I go do you think you can predict for me when the mutants will...

Damn I like the ball better.

<img src="http://www.fantasydaytraders.com/eqpics/old_thread.jpg">

That would be cool to have as a novelty item, where did you find it?

Granted I don't much about P&F charts but it looks like the Price Action is trading into a corner and one of the two line will have to be broken soon.

ES is back up to 1330.50

No idea but I have posted TOS charts.

Try reseting your password on the website.

Very simple question: If you could make 200k even though it might be taxed at a 50% rate thus leaving you with 100k a year or you could keep making your 20k/yr TAXFREE...which would you do? My point is make the money first then worry about the taxes.

Yep. I find the bit about people needing to take more responsibility for their actions as true not only in trading but in almost every aspect of out current society. Seems so many people want to blame someone else for everything that happens to them.

On this current drop, I think you made the call too early and for the wrong reasons and got lucky. I also don't see 115 happening. I see the most likely near term low as 125-126 range and even if it breaks that (doubtful) then you have more significant support at 122.35. Is it possible to go...

Ok so I have never looked at the moon for an indicator, so are you guys saying the moon is going to reverse the markets current down trend or are you saying it will help pull it down more? Just curious I don't think I am going to be adding the moon to my trading any time soon.

Q. When did you stop trading BO's of TL's and why? A. I never really traded BO's of TL's exclusively. I have always used TL's, S&R lines, SMA's, and volume. As to why I use these things it is because all of them can act as support or resistance, except volume which shows recent pressure. The...

Yes I did this quickly and late at night as an example. This thread is not titled "how do you trade trade trend lines?" or "What is the best way to use trend lines?", it's called "Do trend lines work?". My example was simply to show that using trend lines only, and some of them even poorly drawn...

I can see using stops when trading options in certain conditions. However, you have to set them far enough back so you can handle minor retracements that are not signals of a change in direction regardless of the instrument you trade.

Yeah I know. What I am saying is while many strategies are programmable up front, the program cannot be made to adapt automatically and on the fly. A program can't understand that a plane just hit the WTC and the market will go to complete shit in about 2 seconds so get out now. If the market...

Actually I do use S&R for instance on the SPY chart I posted above I saw the crossing of 2 trend lines with the price action consolidating into a corner. So which one will it follow? I waited for one or the other to break for entry but looking at minor support around 131 that is probably about...

That is correct I look for trend line breaks.

Since the instrument we were looking at was INDU, here is a 1yr chart marked up with trend lines. Now I really don't feel like doing the math but if you want look at the folowing. Assume you started out at the far left of this chart and saw the first trend up. As soon as the price crossed over...