anyone here making 7 figures a year doing this?

[Handle123]

well, one can help the lost souls with the direction , but what wanbees really need is not just direction but the know-how, the training, the teaching, the coaching, etc etc otherwise most will never ever make it: "The bridge is just too far"

There is an old joke:

One sees a guy looking for something under the lamp post.
-What are you looking for?
-I just lost the key !
-Where did you lose it?
-Over there, - says the guy, showing somewhere into the darkness.
-Then why do you look under the lamp post?
-Because there is a light here.

Most people unable to go into darkness, they just keep looking within the reach of their very limited abilities (the light of the lamp post). An it takes the combination of the extraordinary character to develop one's abilities, the extraordinary circumstances (to walk as much as it required), and the extraordinary luck (not to be grandiosely fucked up in the process by oneself or others around you) to find the key in the darkness.

So the tip where to go (and nothing else you will get in the forum) is helpful, but it just a minor tip, the road has to be walked by the wannabee.

Incidentally, the first stage of the road is behind, when the wannabe trader stops looking for profound answers on the forum.

Excellent post!

 

[SimpleMeLike]

Just keep trading! Patterns show up everywhere.

Thanks InTheMaking,

Is shorting resistance and buying supports a pattern? What about shorting upper trendlines and buying lower trends lines? Is this a pattern?

Thanks

 

[Xela]

Is shorting resistance and buying supports a pattern?

I think that's generally considered a "strategy" rather than a "pattern", isn't it?

"Pattern" normally refers to at least a group of bars/candles (has always been my understanding), so something definable by the action of a specific price-movement visible in a single bar/candle probably isn't what most people/sources/authors would classify as a "pattern", by definition, strictly speaking?

Different people do use words in different ways, though ...

 

[bone]

I only clicked on this thread because I was hoping someone had figured out how to successfully monetize sexually explicit videos on the internet.

 

[InTheMaking]

I think that's generally considered a "strategy" rather than a "pattern", isn't it?

"Pattern" normally refers to at least a group of bars/candles (has always been my understanding), so something definable by the action of a specific price-movement visible in a single bar/candle probably isn't what most people/sources/authors would classify as a "pattern", by definition, strictly speaking?

Different people do use words in different ways, though ...

@Xela is correct, Mr. @SimpleMeLike
What you do with the pattern is your strategy. I'm an options trader and always hedging to neutralize my deltas and risks. The same can be achieved with somebody shorting resistance and buying support, but has to watch for swings. As a trader, I just dont feel good at it. I tend to do better writing bearish butterflies and credit spreads during swings and flip them back into butterflies, when the market conditions gives me an opportunity. This gives me a better "profit range" that I know how to manage.

Case in point, NDX had a mid-day dip today, I'd written three AMZN 1350 short straddle with 5 DTE on monday. Market dip allowed me to buy it back for 25% profit just a few minutes ago. The straddle offsetted some of the massive theta decay I'm facing on my AMZN longs. Its risky because AMZN is an expensive instrument, but my long puts and calls allows me to work the range. So, that's my trading strategy on AMZN.

Next up, close those FB 187.5 straddles, 2DTE. They're at 5% loss right now,

 

[SoesWasBetter]

I asked for a single name here worth following and none was offered.

I guess there is no one. Shame . But no surprise

 

[d08]

A $10K trading account can generate 4K everyday...if you're willing to take on the risks, and are good and lucky.

What's the point of your post? You're pulling numbers out of the air, it's based on nothing. I can also say "A $10K trading account can generate 40M everyday...if you're willing to take on the risks, and are good and lucky."
Either you or someone very close to you has done it, otherwise it's pointless to state the obvious.

 

[bone]

I asked for a single name here worth following and none was offered.

I guess there is no one. Shame . But no surprise

It's no surprise because the thread is a fluffy non-starter to begin with. There is absolutely no incentive (and in fact a multitude of genuine disincentives) for anyone to affirm in the positive. Of course the thread is going to invite nothing but light-hearted irrelevant banter.

 

[d08]

The OP is 19 years old, keep your expectations low.

 

[lawrence-lugar]

What's the point of your post? You're pulling numbers out of the air, it's based on nothing.

I can also say "A $10K trading account can generate 40M everyday...if you're willing to take on the risks, and are good and lucky."

Either you or someone very close to you has done it, otherwise it's pointless to state the obvious.

Perhaps, you can say or think or claim it's based on nothing...it's your prerogative.
You're not the IRS or an accountant, I don't have to pull proving documents out of my butt right now to prove anything to you or anyone else.
All I can say it's possible. That's the extent I'm willing to disclose. -- Believe it or not. it don't bother me one bit, if I have you convinced or not.
I didn't say 40% Everyday consistently...I said, on average. So that means some days it can be less, or even a slight loss...and other days, much much greater.

It's not pointless, because the OP asked the relevant, related question.
Make Trading Great Again 2018...High-Five`, d08 and Xela bone.