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Nothing wrong in having an indicator to help you confirm what you are seeing, but it shouldnt be used as the main tool for reading the market direction of the instrument you're trading.

I was about to say the same thing. The market wasn't reacting to Dudleys comments, it was reacting to the continued violence in the middle east which overshadowed the "barely" positive econ data that came out in the AM. That was the reason for the sell off towards the end of the day..

Put simply, he needs to develop/acquire a trading strategy that makes him consistent profits on a weekly/monthly basis. He has a long road ahead of him bcuz of his lack of experience....

- entering a long as price bounces off of a support level and/or trendline .... and vice versa with the shorts. ......... its my bread and butter :cool:

If I could stretch my arm to you thru the internet connection, I'd give you a big slap on the head! :p

EXACTOMUNDO !!!!!

Thats a careless & unethical thing to say.

I second that motion, since all markets are basically driven by the mechanics of fear and greed, especiallly in markets like forex where price loves to bounce off daily S&R levels. Its not that hard, IF you know what to look for... Anyone who thinks the market is mostly random is a person...

MB Trading and IB whip the shit out of Oanda, PERIOD Ive only been disconnected once( this past fall) with MBT and it was down for only 30-40 sec. Those of you who keep whining about Oanda have no one to blame but yourselves. ( Like a battered woman who stays with her abusive...

Good to know there are at least a few in here that have some brains and common sense. :)

Could be prosecuted under RICO and Sherman Anti... ?? LOL I see the conspiracy theorists on this site are back at it again. Im sorry but ppl like you should be banned from this site for being so rediculously airheaded.

I run 10 screens( windows7) and have realized that windows 7, vista, and xp prefer you run least amt of cards possible. In other wards, for a 10 screen system, running 2 quad cards and a dual dvi card lets the computer multitask with "less fingers" .

OEC is terrible. They have a long history of connectivity problems( I should know, I used them for a little over 1 1/2 yrs) Stay away !!

LOL..

he said the emini , NOT the large contract !! and why would anyone take advice from a "failed trader"

You have better odds of getting hit by a car while crossing a street.... seriously.

The Palin "drill baby drill" concept won't work for bringing down oil prices in the short term, it takes 3-5 yrs just to get those rigs/platforms running at full steam. With Libya situation having no end in sight and other middle east countries dealing with unrest it would be wise for the U.S...

This is why its important if you trade the 6E( as I do ), then its better to wait till 2am-3am NY time when London and rest of europe start getting into the game thus offering best liquidity for good fills. And of course beginning around 7-8am NY time I would stay out of the micro contracts...

When a company puts a big fire sale on an item that should sell for its original market price, thats called a RED FLAG. I wouldn't even buy it for half the sale price.

This is exactly why this site has become a joke. Too many ppl talking about devil numbers and other garbage instead of the subject at hand. Now, to get back to the subject of this thread ... Don Miller: what do you think he makes more money at? A- personal trading his own acct...