Thanks InTheMaking, Is shorting resistance and buying supports a pattern? What about shorting upper trendlines and buying lower trends lines? Is this a pattern? Thanks
I think that's generally considered a "strategy" rather than a "pattern", isn't it? "Pattern" normally refers to at least a group of bars/candles (has always been my understanding), so something definable by the action of a specific price-movement visible in a single bar/candle probably isn't what most people/sources/authors would classify as a "pattern", by definition, strictly speaking? Different people do use words in different ways, though ...
I only clicked on this thread because I was hoping someone had figured out how to successfully monetize sexually explicit videos on the internet.
@Xela is correct, Mr. @SimpleMeLike What you do with the pattern is your strategy. I'm an options trader and always hedging to neutralize my deltas and risks. The same can be achieved with somebody shorting resistance and buying support, but has to watch for swings. As a trader, I just dont feel good at it. I tend to do better writing bearish butterflies and credit spreads during swings and flip them back into butterflies, when the market conditions gives me an opportunity. This gives me a better "profit range" that I know how to manage. Case in point, NDX had a mid-day dip today, I'd written three AMZN 1350 short straddle with 5 DTE on monday. Market dip allowed me to buy it back for 25% profit just a few minutes ago. The straddle offsetted some of the massive theta decay I'm facing on my AMZN longs. Its risky because AMZN is an expensive instrument, but my long puts and calls allows me to work the range. So, that's my trading strategy on AMZN. Next up, close those FB 187.5 straddles, 2DTE. They're at 5% loss right now,
I asked for a single name here worth following and none was offered. I guess there is no one. Shame . But no surprise
What's the point of your post? You're pulling numbers out of the air, it's based on nothing. I can also say "A $10K trading account can generate 40M everyday...if you're willing to take on the risks, and are good and lucky." Either you or someone very close to you has done it, otherwise it's pointless to state the obvious.
It's no surprise because the thread is a fluffy non-starter to begin with. There is absolutely no incentive (and in fact a multitude of genuine disincentives) for anyone to affirm in the positive. Of course the thread is going to invite nothing but light-hearted irrelevant banter.
Perhaps, you can say or think or claim it's based on nothing...it's your prerogative. You're not the IRS or an accountant, I don't have to pull proving documents out of my butt right now to prove anything to you or anyone else. All I can say it's possible. That's the extent I'm willing to disclose. -- Believe it or not. it don't bother me one bit, if I have you convinced or not. I didn't say 40% Everyday consistently...I said, on average. So that means some days it can be less, or even a slight loss...and other days, much much greater. It's not pointless, because the OP asked the relevant, related question. Make Trading Great Again 2018...High-Five`, d08 and Xela bone.