I have received a few e-mails requesting me to indulge my strategies... Naturally, I will not give away all my secrets, as I have an edge that allows me to take $1,000s away from unlearned traders onj a daily basis Here are a few pointers you may want to consider... First... typically, I will not even consider trading the first 30-45 minutes after market open... I want the market to establish some type of range before I jump in. around 10:30 (+- 15 mins.) the market will generally make a move COUNTER to the established early morning trend... I will generally jump in on this. You'll see the market reverse during this time frame almost 90% of the time... generally, if the market soes not retrace 30-40% of the intial am range at 10:30 or so, you should look for a trending day... This is just one of the strategies I use in my trading... Watch the market tommorrow.. back check your charts and see how often the market reverses between 10:15 and 10:45... Happy Trading!!! dave
<<dave, do you trade the ES exclusively - or do you also trade he NQ - why? thanks for your answer!>> I trade the ES exclusively.... why? Because the ES is what I KNOW! This is not to say my strategies won't work on NQ... Happy Trading!!! Dave
Hey guys... Notice today very little pull-back at my suggested time-frame... looks like a trend-up day may be in store.... we'll see... 11:58 Dave
Dang it Funster! I was getting all bent out of shape hoping the retail sales would be coming out tommorow. Now I have to wait until Wednesday for my next kill? Drats!
Funster, I have been trading for 3 years and I'm still learning the ropes. I'm not really a suitable tutor or mentor for you, but I'm willing to share some of my experiences - which you may find relevant and useful. Almost two years ago, in June of 2000, while looking for better guidance, and just having paid $2500 to a "mentor" for nothing useful, I enrolled in the TCI school (for $6,000) which I liked very much - and have been following their technique and systems ever since. Their methodology is solid - designed to trade the s&p futures, but expanded to also trade the nasdaq futures (and now trying to reach into the stock environment.) Their system is excellent and very profitable, especially in the swing trading area, but also in daytrading the e-mini if you have the stomach to take about 40% losses, out of 10 or so trades every day. I stopped doing that a few months ago and concentrated on their swing system (1-3 trades per week) which I now have arranged for a broker to trade for me while I'm still chasing another one of my goals, to learn to daytrade stocks. Every methodology and system has their drawbacks - and at the end of the day, I have three questions for each one of them: is this system doable by me? is this system profitable for me? is it devoid of large obstacles, like huge risks or a totally obnoxious organization, hidden in the background? IMO, the answer here is yes to all three. So, I'm happy with this arrangement. Remember, I don't work for them nor do I have any special arrangement with them, other than being their satisfied customer. Any other questions, please let me know. Yannis1
Well guys... Looks like we got the trend day I expected If the market is going to pull back, now would be the time...let's see wht happens... Happy Trading!! Dave