Market lesson at this time...

Scataphagos · Sep 20, 2022

Current range on SP Futrures = 3840-3850 Support... 3930-3950 Resistance. Buy support, sell resistance... with discipline about taking risk and exercising stops. If those levels break, CHASE! All plays between the bigger support/resistance are just noise and no better than 50/50 with marginal profit potential. That said, you might still make plays for 10-20 points, here-and-there, within the range. A couple of those could still make for a good day's trading.

The current example applies to ALL TIME FRAMES.. ALL MARKETS.

Learn to do this well and you cannot lose... unless YOU screw up!!

FWIW...

rb7 · Sep 20, 2022

Scataphagos said:
Current range on SP Futrures = 3840-3850 Support... 3930-3950 Resistance. Buy support, sell resistance... with discipline about taking risk and exercising stops. If those levels break, CHASE!

The current example applies to ALL TIME FRAMES.. ALL MARKETS.

Learn to do this well and you cannot lose... unless YOU screw up!!

FWIW...

For people continuously asking for an edge or for a profitable trading strategy, this is one (or part of one!).

Scataphagos · Sep 20, 2022

rb7 said:
For people continuously asking for an edge or for a profitable trading strategy, this is one (or part of one!).

It's not really an "edge" over the market. If you do it well you'll have an edge over other traders...because you are smarter than they are... but that's not worth anything. (There are no "edges over the market" for traders which are legal... like "front-running trades" or trading on "inside information"... both of those are illegal.)

Laissez Faire · Sep 20, 2022

Those "choppy" moves on today's Open did a good number on me. Hardest day in a while for me, but still time to salvage the day. Positioned long here.

JackMorgan · Sep 20, 2022

we miss the najarians
they were so good

Scataphagos · Sep 20, 2022

JackMorgan said:
we miss the najarians
they were so good

What happened to them? They quit or dismissed?

JackMorgan · Sep 20, 2022

Scataphagos said:
What happened to them? They quit or dismissed?

who know, only their hairdressers know for sure

always figged them for pimps and con men anyhow

Scataphagos · Sep 20, 2022

JackMorgan said:
who know, only their hairdressers know for sure

always figged them for pimps and con men anyhow

Funny... they don't LOOK like poofs. (Then again, the good ones aren't all that obvious.)

Scataphagos · Sep 20, 2022

ES bulls have successfully defended 3840-3850 at least 7 times over the last couple of days. Even a blind trader should have seen that.

murray t turtle · Sep 20, 2022

Laissez Faire said:
Those "choppy" moves on today's Open did a good number on me. Hardest day in a while for me, but still time to salvage the day. Positioned long here.

%%
SAME here\
+ some profits on SQQQ + TZA,sdow.
Mini profits on DOG, but i may not do that one again, with a SEC fee that's not free for me.DOG moves so slow dont have to watch it as close as some stuff..........