Market chop... buy the bottom of the range, sell top of range. Nothing other until range breaks.

hilmy83 said:
Little teaspoon of sarcasm. I wouldn't go as far as saying this is "easy". I mean seriously, let's not ignore the big fat bastard elephant in the room that most traders do fail at this and quants spend millions to research small edges in the markets. Most people have average IQ, so what you did there, most people can probably do and see, so why such a high failure rate?

Obviously it's more to it than just KISS. And I personally hate "discretionary" line drawing. Everybody looks at something differently and it's based on "judgment", then you can have countless ways of drawing those s/rs.

And when it does fail, do you keep going? Stop for the day?, whats your target? KISS now becomes kiss, then pull, then push, then bust..:D

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Good Morning hilmy83,

You mentioned some valid points indeed, but we are alone traders not the quants. We do not have their tools and software to compete with them. and do not share with us.
 
SimpleMeLike said:
Good Morning hilmy83,

You mentioned some valid points indeed, but we are alone traders not the quants. We do not have their tools and software to compete with them. and do not share with us.
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We don't need their tools or software. All we have to do is understand Price TA and trade with our eyes. KISS!

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The market has clearly shown support for NQ @ 14725 at least FOUR times. As a Price TA trader, what do you do with that info? How simple a concept is that? That's Price TA, KISS!
 
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Scataphagos said:
We don't need their tools or software. All we have to do is understand Price TA and trade with our eyes. KISS!
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Good Morning Scataphagos,

I AGREE 1000%. You know I support your comments and agree.

I am a FAR better trader than a quant or algo.

Us retail traders have an advantage over the quants and algos because we see the real time price.
 
Scataphagos said:
We don't need their tools or software. All we have to do is understand Price TA and trade with our eyes. KISS!

View attachment 323800

The market has clearly shown support for NQ @ 14725 at least FOUR times. As a Price TA trader, what do you do with that info? How simple a concept is that? That's Price TA, KISS!
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Thing is, if I ask you what's the criteria for a good s/r? 2 bounces? 3 bounces? Obviously there's more to it then just drawing lines or then just "click click" like @SimpleMeLike would say.

I'm a TA guy, but not, "use your eyes" analysis kind of guy. So that's why I guess this stuff never really makes sense to me. It's "fugazi".

Maybe it's because of my engineering background. They said, engineers and doctors make the worst traders....oh well.

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But then again, I'm not like most guys...or just lucky?
I'm blocking info cause i don't want creepers to look me up.

**deleted**
 
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M.W. said:
Why all the focus on those tiny micro moves when you can sit back and be short the market with all the macro signs turning South. I can't come up with a single catalyst that would catapult the market higher in the next couple months. Too bad there isn't any regulatory required reporting of brokerage account pnli bet 80% or more of those tiny range traders are career pnp negative. Good luck identifying tops and bottoms on past data that have zero bearing on what is going to happen today, tomorrow and the future.
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%%
Good points MW\NOT that i believe in ''luck'':D:D
OCT does tend to be , nickname '' bear killer ''[Stock Traders Almanac]
SPY[S&P 500]did a big bear move all year, AUG,SEPT also mostly\ 1974[ Nixon impeachment ] OCT went up about 16%[ much more than ''zero bearing'' LOL ''
And last gov stut down/ market went up[Pres Trump]:caution: Not sarcasm.
 
hilmy83 said:
Thing is, if I ask you what's the criteria for a good s/r? 2 bounces? 3 bounces? Obviously there's more to it then just drawing lines or then just "click click" like @SimpleMeLike would say.
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Criteria for good support? ONE bounce. The "start" is all you get to KNOW. After that, you have to play by ear.

(I was schooled as a chemist. I'm used to "observing" and then trying to figure out why/what happened.)
 
hilmy83 said:
or then just "click click" like @SimpleMeLike would say.
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Hello hilmy83,

Great job on your returns you post. Glad to see returns.

Regarding discretionary trading:
If your eyes say buy, then buy, if your eyes say sell, then sell. This is why it is called discretionary because the eyes is our discretionary edge.

There is no criteria needed, you do whatever your eyes tell you to do. You just do what ever you want to do based on what you see on the chart.

It is just that easy.
 
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