Trading For Living - S&P 500 Market.

Quote from DonKee:

BoyBrutus, you will want to use the PP's that are most commonly used which are the classics. The others might work, too I've just never used them. As you put up the PP's day after day, watch how the markets react to them and do pay attention to the Nas, XLF, and adv/dec for a general bias.

Nothings 100%, so use good money management. stops, targets, runners, etc.

good luck with it.
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i'm just now reading your question, bb, so i'll just say i agree with what he said.

i've been reading a lot of books, mostly recommended by smilingsynic, but others that i've discovered too. when i read "mastering the trade", by john carter, i had that "aha" moment. i read his section on pivots and an idea occurred to me. he tries to overly complicate things, so i don't use his method exactly, but the pivots are simple and i came up with a way to use them that works for me.

not to be cynical, but it seems as though a lot of websites, etc., and even authors of books, try to make things seem very complicated so that you'll pay their astronomical fee for their monthly service. you don't need that. it's best to keep it simple. just figure it out for yourself.

i think that a well thought out book can be a lot more helpful than a website, even if it is free. there are a couple of books that i have read that have paid for themselves hundreds of times over. that's the kind of book i like....:D
 
one more thought and them i'm out. when i was very new at this, i would see people saying to figure it out for yourself. i thought, yeah right, like that will work. but it's true. someone can try to teach you their method, but until it makes sense to you, it won't work for you. reading the books and figuring out an edge to use has worked for me.

if you look at it objectively, any value that is touched 90% of days becomes an important value to watch. if you can figure out a way to use this information, it can be extremely helpful.

good luck with your trading.
 
expecting to go short at 1290.00
but advdec is not showing any strong numbers yet it is at -800 so not expecting
much today most probably no trade
unless the advdec rockets to -3000
 
Quote from princessa:

one more thought and them i'm out. when i was very new at this, i would see people saying to figure it out for yourself. i thought, yeah right, like that will work. but it's true. someone can try to teach you their method, but until it makes sense to you, it won't work for you. reading the books and figuring out an edge to use has worked for me.

if you look at it objectively, any value that is touched 90% of days becomes an important value to watch. if you can figure out a way to use this information, it can be extremely helpful.

good luck with your trading.
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Many agreements here! We always come around full circle to one single point and that it comes out to be a personal thing! Why? well! There can't be anything less personal than how we treat our money and since its about our money we just don't except every thing that is thrown at us.
 
Quote from princessa:

reading the books and figuring out an edge to use has worked for me.
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Yep. and markets are constantly changing and you must change with them. Becky's break-out is just her own version of Tony Crabel, Mark Fisher's ACD, etc. Nothing new, she has just wrapped it into something she says is working at this time. Buying or selling a 4 point break-out might work when Average True Ranges are high. In 2006 and most of 2007 the ATR on the ES was in the lower teens vs now where it is high teens-lower 20's.

My goal is to take money out of the markets. The markets are always changing in some way, so must I.
 
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