Market lesson at this time...

[MacBookProHo]

Current range on SP Futrures = 3840-3850 Support... 3930-3950 Resistance. Buy support, sell resistance

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

You should sell this information in a course bundle across social media sites....you will, finally, become a millionaire in the market,
You got some magical, secret, Holy Grail, knowledge there,

Scataphagos....that username is so weird, odd and unique -- what does it mean,

 

[Scataphagos]

You should sell this information in a course bundle across social media sites....you will, finally, become a millionaire in the market,
You got some magical, secret, Holy Grail, knowledge there,

Scataphagos....that username is so weird, odd and unique -- what does it mean,

1. A "course" would be too much trouble.

2. I became a market millionaire years ago.

3. The Greek version of Scataphagos* translates to "shit eating"... self-deprecating humor, you know.

*Some Greek ETer once PM'd me and asked, "do you know what that actually means"? LOL! I changed my handle to that in deference to Obama becoming president.

 

[Laissez Faire]

Whippy take-your-profits-and-run kind of market today, @Scataphagos. How would you navigate such a market?

That would be a market lesson I'd like to have.

Thank you.

 

[Scataphagos]

Whippy take-your-profits-and-run kind of market today, @Scataphagos. How would you navigate such a market?

That would be a market lesson I'd like to have.

Thank you.

Same as all the time... Buy Support, Sell Resistance, chase breakouts. Works the same in all time frames and in all markets.

 

[schizo]

who know, only their hairdressers know for sure

Choose only one:
1) Bald
2) Ponytail
3) None of the above

 

[margin_gamble]

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...

Guru, now that you've laid out the THEORY, you must-est to deliver let's say 5 LIVE trading examples on SPY to show how it works in the real world as opposed to from an armchair rose-pink Cadillac view, such view being the forte of this site.

Now's your chance Herr Uberstomphfuhrer, show us IN ACTION how its done. Help us get better.

Your court, Herr Uberstomphfuhrer

 

[margin_gamble]

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...

The Holy Grail has been found at last after 2 months of subterranean searching by yours truly.

Holy Grail attributes: This particular one can render the Casino broke within 24 hours

a couple of those per day = a good day's trading
All time frames, all markets
you cannot lose ............ unless YOU (excuse) screw up

 

[Scataphagos]

Guru, now that you've laid out the THEORY, you must-est to deliver let's say 5 LIVE trading examples on SPY to show how it works in the real world as opposed to from an armchair rose-pink Cadillac view, such view being the forte of this site.

Now's your chance Herr Uberstomphfuhrer, show us IN ACTION how its done. Help us get better.

Your court, Herr Uberstomphfuhrer

You know, it's such a sense of satisfaction... THRILL even... when you come to the conclusion that you've "figured it out yourself". I wouldn't want to deprive you or any trader of that "Ah ha" moment.

It's all the same I've been saying for years...

Buy Support
Sell Resistance
Chase Breakouts
Trade with stops

KISS, baby!

I don't mind showing you where the good fishing hole is, but I'm not going to bait your hook and cast your line for you too.

If you don't understand or can't identify support and resistance, there are plenty of books.

(I'm no guru... it's Chapter 1 in "Technical Analysis 101". Seems new traders are in such a hurry to "get to the good stuff" they skip over Chapter 1... but I do like that Uberstomphfuhrer though... the "stomp" part really makes it!)

 

[Laissez Faire]

Same as all the time... Buy Support, Sell Resistance, chase breakouts. Works the same in all time frames and in all markets.

No offense, but your advice is about as practical and useful as saying buy low and sell high.

 

[Scataphagos]

No offense, but your advice is about as practical and useful as saying buy low and sell high.

"Buy low"... AT SUPPORT. "Sell high"... AT RESISTANCE.

"Most useful and practical".

It's also technically correct to "buy high and sell higher" when appropriate.

So... if you're not going to trade off of support/resistance, just what motivates you to buy/sell?