''spent years floundering around with T/A Charting S/R and every imaginable theory that was thrown about,'' What should one use for short term trading if not charts, Johno1? Depth of market/time+sales type stuff?? How do you ''ensure that you are on the right side of the market''?
To be honest the only thing that I would suggest for deliberate short term trading by a retail trader is "The Bible". As I pointed out, the market is the boss, it dictates everything that a trader needs to do, it tells you what the trade timeframe will be, it tells you the direction to trade, anything else is you trying to force your will onto the market and is ultimately doomed to failure. At the bottom of my post I recommended a book, the answer to your question is in there, it's simply up to you to have the gumption to find your own truths. Cheers John
You might get yourself a soft pillow for your knees as well because you can expect to spend a lot of time on them. lol Cheers John
Both short term and intermediate term trends are now down with long term trend waivering. We are now in a short term (at least) bear market. It remains to be seen if it will be full blown bear. Odds greater than 50%. Can you buy in a bear market? Yes. I will be keeping a shorter leash on longs.
It's amazing how we are able to stand in our way until something or someone gives us a little nudge in the right direction and suddenly everything is - exactly the same, but very different. Thanks for the reminder, I loved the book the first time I read it, but I wasn't able to make the connection until your post made me read it once again a few weeks ago. I'm still shaking my head and I'm probably going to continue shaking it for a long time.
I have seen the light! after almost one year with good gains followed by losses twice as big, I have finally figured out the Obvious not so obvious! Now I will need to spend some time figuring out my way of using the obvious to trade profitably with consistency. so here it goes my big, big thanks to some exceptional people that had me grinding my brains out for so long a time Thanks to Nysestocks, Redneck, The Oracle, The Expert, and from other threads, The General. P.S. remember that Time=Money, nothing is as it seems and most of the information around (with the exclusion of Posts from the above cited ET members) is rubbish designed to lead the Retail trader money into some "Lazy and cunning bastards" pockets (and, shortly into mine as well)