Ares You seem like a nice fellow and your story is touching BUT please understand that this business takes years to truly learn. That's the HONEST truth no matter what you want to believe. Don't bet the farm on this and hedge your income because this could be disastrous for you and your family. A bird in the hand is worth 2 in the bush. In your situation get a real JOB and learn part time. Best of trades to you.
http://elitetrader.com/vb/showthread.php?s=&threadid=95127&perpage=6&pagenumber=40 most recent chart of the spx: gl everyone.
How steep is the angle of attack of the descending trendline before the SPX gets a nice bounce? Will the weekly 200 moving averages hold?
I'm following a stock from the financial sector (that is below $5 now) and using SKF to hedge it. I'll be following both and see how the "lot method" fairs (learned it from skaterdaytrader who frequents the "Stock Market Room" at Pal Talk).
I have been having fun with SKF and UYG lately. So far, not using stops but hedging instead. So far so good. I recently downloaded the TOS software demo and am learning how to use it. Posted a question in this link regarding TOS charts. http://elitetrader.com/vb/showthread.php?s=&postid=1880494
Elite Trader, Thanks to all who have given their input to me and have been "teaching" through their posts. I've learnt a lot from everyone (and am still looking forward to learning more). Attached is a shot of a 5 minute TOS chart of SKF/UYG. Some of those who have seen the chart on the message board called 3SOF like it. It looks like I'm giving TOS advertising for free. I've been logging my progress at the 3SOF message board lately. http://www.3stocksonfire.com/trading/index.php?topic=8896.450
Ty Ivo for the reminder. I'm still continuing to learn more in my "journey". http://www.elitetrader.com/vb/showthread.php?s=&postid=1900278#post1900278