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2/22: No trades

So you're saying that price can be predicted based on certain things happening? "Follow the big money" implies that the big money does something, you identify what big money does, and then you "follow them." Am I understanding that correctly?

109 views and 4 votes? What happen to ET's price predictors? I am disappoint.

2/21: No trades.

So the S&P is about to hit its 52 week high ($137.18 on 5/2/2011, although stockcharts.com doesn't show price going that high in May. Yahoo finance has it). What does ET think is most likely to happen if price hits $137.18 again?

S&P futures were up today :D Crazy!

I just realized your example was on a $1 stock. $1 stocks are basically gambling. Math and risk:reward calculations get thrown out the window because those stocks don't play by the same rules.

Let's say hypothetically your risk on a single trade is 1%, like you said. So if you have a $30,000 account, that is $300. That means your position size is going to determine how far against you a position can go. If you buy 300 shares of a stock, that means it can go against you $1.00...

What is the pink line on your chart? I like the idea of posting a chart in your journal. I may steal it :)

Two possible entry levels depending on where you draw the retracement. OMG LOOK HOW THE TWO LINES ALMOST LINE UP!!! IT MUST BE THE MAGIC HARMONIC POWER OF FIBONACCIS!!!!! :eek: edit - whoops I accidentally clipped the dates on that chart. That's a 3 month daily chair of SPY.

I forgot the market is closed tomorrow. Gotta wait one more day to see if this uptrend is gonna keep going up.

2/17: No trades. Patience is key.

The new price for a 5% pullback in SPY is $130.32.

Anyone who said: - Before the end of next week - between 1-2 weeks from now - between 2-3 weeks from now - between 3-4 weeks from now Was wrong.

2/16: No trades. Another big up day!

The current level for a 5% SPY pullback is $129.36.

also, how would you string them together? Do you ALWAYS buy if the previous two days were green? So in other words, if the chart goes like this: day 1: green day 2: green day 3: green day 4: red day 5: green day 6: red day 7: green day 8: green day 9: green day 10: green You...

I believe this could be easily backtested. if (yesterday and yesterday-1) = green { BUY today open SELL today close } *waits patiently for someone to backtest and also waits for the BACKTESTING IS WORTHLESS crew of "gurus" to hijack this thread*

That's a new one. So are you saying that after two consecutive green bars there is a greater chance of the next bar also being a green bar?

Beware ambiguous statements and predictions :eek: