- Monday close above the downtrend line - Tuesday any tick above Monday's HOD ...and I will start looking for a long entry for a swing. Anek
Anek Sounds good. I would also like to say thanks for doing this thread. I've always been looking for some kind mathmatical edge, never could find one that work very long. Using charts to read price action has been around a long time and will probably be around a long time. This thread open my eyes to that. Thanks JD
JD, Even if I get the third confirmation, there is no guarantee that the market will reverse, what I do guarantee is that the risk vs reward is worth taking it Just like the house in a Casino, they win and they lose but by having a slight edge they know they always win in the long run. Pretty much that's what I try to do in trading. Anek
<i>"For what is worth I would be caught dead before I profit from people in exchange of trading tips or calls running a business. Why in the world would I want to go through the hassles of a business, for what purpose, I see no purpose. I left that world a long time ago and have absolutely no intentions of returning, ever."</i> Excellent question, anek. I'll tell you why. Your time and attention cannot be carved to infinity. Eventually, you have more people vying for your time than what exists on a clock. You will wake up to a full email inbox, and you will go to bed after answering emails all day with more new arrivals waiting for replies than you began with. Along the way, you will encounter people who are serious about learning to trade. Time is of the utmost essence for them. They are well capitalized professionals. They don't want to read 1,000 page internet jigsaw puzzle threads trying to sift out the wheat from chaff. Serious professional types seeking to learn trading don't want to spend years staring at naked charts trying to learn the mysteries of pure price action if that education can be shortened. They don't want to waste time reading about timmie's loss of $1+ million in penny stocks. What the turtles did twenty-some years ago is worthless now. Buy-buy-buy rimm, aapl and goog is not a career builder. They sure as hell won't glean anything worthwhile from a protracted soap opera centered on zoo-animal traders and nemesis. * There is a class of traders / aspiring traders who want clear, concise educational info in one piece. They want personal access via email or telephone support. They want on-going support in their evolution and growth. They realize you may not have all the answers to everything needed in this profession, and that's ok. For that class of people, you cannot serve their needs in your current endeavor. Your thread here is wonderful, very clean and entertaining along with being helpful. But it is a long ways from the complete package for every trader. Whether you choose to limit who you work with AND give a more concentrated effort to those specific clients or not is your choice. Just so you realize and understand you cannot be all things to all people in your current approach. If you choose to remain in the mode of public info "trading tips" as it suits your lifestyle, that's great. But... mere "trading tips" ain't nearly enough for everyone out there. That's why numerous services exist to offer comprehensive coverage specific to some aspect or another of trading. Something for everyone, at all levels of the evolutionary process in our profession.
Not Quite what I am looking for, Ill explain it as soon as im certain there are no more questions with what I explained last time. P.
Sounds like a change in tactics Austin, if you can't beat them join them. "don't want to spend years staring at naked charts " "clear, concise educational info in one piece", "long ways from the complete package for every trader" Gotta love the final piece "mere trading tips" It is better to wait one hundred years for the right master, than to learn (pay) under the wrong one. There are no shortcuts, victory belongs to those who persevere in the face of constant adversity. You will have to dig deep to keep going in times of total confusion. From my own experience your trading gems, in all forms, will be found in those low moments. What Anek presents is a solid foundation. If you build for yourself a "solid foundation" as presented, then you will be able to advance yourself to whatever level you wish, in trading. Per ardua ad astra
<i>"It is better to wait one hundred years for the right master, than to learn (pay) under the wrong one."</i> Yes, that is true. I myself am grateful for things I've learned that were given free, things that cost low to high USD $$ and things I learned on my own, thru trial and error. It's the latter which was by far most costly of all. * <b>"Recognition and praise: babies cry for it, grown men die for it" <i>Mary Kay Ash</i></b> Everyone who posts helpful advice in a public forum is seeking some degree of recognition and praise. That includes myself, anek, pitbulltrader and everyone else who ever exchanged time and ideas for positive feedback and accolades. R&P is a form of emotional currency far more valuable than $$$ to many people. Regardless of what motivates any of us to exchange information for reward (money, R&P or both) the info itself stands on its own. Or it don't. That's the point I hoped to make. Good information is priceless. Free information is often worthless. This thread and anek's efforts are definitely positive pieces to an enormous puzzle we call our profession. ** Done trading until 2pm est. Covered last shorts for +4pts at 39.00 on a trail, right before the sell surge. If only someone could teach us all when the optimum time for exit is on each & every trade <laugh> Best Trading Wishes to ALL