Registered: Mar 2006
09-22-06 07:16 PM
Well, I began my career in 1998 working for Dr.George Lane who taught a school on Stochastics in Illinois for a year. Although I was not impressed by the material, I received a whole year of education studying the market without actually trading it. During that year, George's partner taught be about basic Elliott patters, Fibonacci retracement levels, multiple time frame analysis, Keltner bands (for determing volatility and short term direction)
It became a bit confusing, but I worked hard for many years, and to make a long story short I buy and sell support and resistance. These areas are typically corrections (pullbacks) on many different time frames. By watching how the price reacts to each support/resistance level will give you clues on to where the next targe will be.
I didn't really starting making a lot of money untill 2002, when I decided not to concentrate so hard on being correct an have a high winning percentage, but to put all my effort into money management skills.
When the market is slow I would trade about 2000 trades, when the volatility picks up I trade well over 10,000 e-minis