You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Consistently Profitable Trading System
- Thread starter aslv2000
- Start date
Indeed it does exist. Market makers use it all day, every day. It is called "Buy at the Bid and Sell at the Ask." This system has worked flawlessly since time immemorial, having originated when the Lord our God traded Eve to Adam for a rib. Suckers have been trying to beat the spread ever since.
Yeah, and that system is only operational at Goldman Sachs, as they're the only one's doing "god's work".
Quote from Fleming Snopes:
Indeed it does exist. Market makers use it all day, every day. It is called "Buy at the Bid and Sell at the Ask." This system has worked flawlessly since time immemorial, having originated when the Lord our God traded Eve to Adam for a rib.
Ordinary mortals who misfortunately are categorized as "non-professional" have an option. It is called "Buy at Support and Sell at Resistance." But it is too simple, so most traders don't use it. The first historical reference to it of which I am aware is Jessee Livermore's dictum to "Buy When They Cry and Sell When They Yell."
Sometimes it is best to go with tried and true.
Hi Fleming and Risktaker,
Once again I thank you very much for your posts.
How can you find this support and resistance levels reliably? Market profile maybe?
I look forward to keep getting more ideas. Having a lot of money to invest in daytrading and not having a consistent and proved system is driving me crazy.
Regards,
aslv2000
Once again I thank you very much for your posts.
How can you find this support and resistance levels reliably? Market profile maybe?
I look forward to keep getting more ideas. Having a lot of money to invest in daytrading and not having a consistent and proved system is driving me crazy.
Regards,
aslv2000
As a crude generalization, support dulls the mind at low volume and resistance juices courage at high volume.
Look at the big players...
The big hedge funds have become buy 'n hold "mutual funds in disguise" in the last few years. Many of the smaller players have washed out. The fact is, except for a few lucky minority, you're not going to find what you're looking for. Put your money in some long term investments and either retire or find a job for a "living" but don't count on scraps from trading. Good Luck.
The big hedge funds have become buy 'n hold "mutual funds in disguise" in the last few years. Many of the smaller players have washed out. The fact is, except for a few lucky minority, you're not going to find what you're looking for. Put your money in some long term investments and either retire or find a job for a "living" but don't count on scraps from trading. Good Luck.
Quote from aslv2000:
Hi Fleming and Risktaker,
Once again I thank you very much for your posts.
How can you find this support and resistance levels reliably? Market profile maybe?
I look forward to keep getting more ideas. Having a lot of money to invest in daytrading and not having a consistent and proved system is driving me crazy.
Regards,
aslv2000
I concur. Buy high yielding stocks, ETF's and closed-end funds at dips and chill while the dividends roll in. Physical gold is a no-brainer, too. Resist the urge to daytrade by backtesting your brilliant ideas. That will shatter your dreams of the perfect system.