Without getting into anything proprietary, what do you mean by "levels?" I assume you don't mean S/R, otherwise I figure you would have worded it that way.
I feel like a pretentious loser by saying these levels are "proprietary" but in fact they are. Sure they're s/r the way "pivot points" are s/r but WAY less choppy and IMO more meaningful.
I want to start in futures and I'm newbie, shoud I just stack my cash and wait to trade equities or start with futures. Thanks
The easiest transition is to have a job and positon trade stocks until you are doing fairly well. Then, at some point you can peel off a pile of capital and plough ahead in the futures markets by trading full time in both equities and futures indexes. It should be, or maybe is, clear to you that a lot of money is make trading. There is no steady state level of income from ftrading full time; it just keeps rising and rising as you compound. If you have found that out, then you know it does not take long to become rich. So knowing this, you can work on shortening the time between stages of wealth. Knowing that you are becoming rich means that you can think things through thoroughly and plan your course or path. It is improtant to do a buiness plan by the time you become skilled at an intermediate level. Look at various contributors in this thread. See if you can figure out who is just at the advanced beginner level. Is anyone commenting from a business plan based income point of view. If so they may be approaching intermediate. I quit my job two years after my weekly commissions equaled my weekly salary. Since I started with 300 bucks and 50% of my pay check added to my account it took 3 years to get to where I said and I quit 5 years from leaving college. There is no relationship between trading income and normal salary income. Traders make a lot of money compared to their professional salary potential. Working at a job is not a good idea after a while.
Thank-you for the great information, I have been struggling with trying to find different investment strategies, what books are classes, courses would you or anyone recommend for the position trader.
Bill O'Neill's IBD and his CANSLIM method of trading/investing in the STOCK market are far above any other book/method there is. He combines fundamentals with technicals and picks only stocks that should go up....if they don't....sell and move on...very simple style Learn that method....adapt it to suit your capital situation... No one else comes close to what he is doing..... SteveD
hi mr rome ... do not start with futures or any leverage including margin for stocks ... until you have a clue start small I mean really small ... I guess in stocks as much as he has a rep for being a bozo on TV Cramer ... has written a book on investing called real money ... its worth a look there are books on beg. tech analysis off hand I am not sure where to begin the WSJ on friday and IBD on sat . you can buy these and have a weekend to relax and study a little there are some good sites on the net for newbies good luck