Boy, you sure make it seem easy. If everyone just used floor trader pivots or any variation thereof, there would be hardly any losers (but then we wouldn't have a market would we)? Well now that the cat is out of the bag you guys should start to rake it in.
<i>"If everyone just used floor trader pivots or any variation thereof, there would be hardly any losers..."</i> Well, I turned three ES trades on Friday for +2pts (just before it dropped +5pts more thru the pivot) and then +4pts and finally +3pts, all on the short side. Pivot values did not trigger any of those trades... knowing the general roadmap they plot out sure helped.
osorico, Nooooo you must be promoting paint shop pro because you have some sort of interest in it! I will now never use it. Im a paint shop pro skeptic.. hehe just kidding. just wanted to take a skeptical stance. I've used PSP before. I like it but I grew up on adobe starting with my first 3 pass flat bed scanner I got in 1989. Cajun
Spectra, is it true Alex was schooled by John Carter and Hubert Senters, the ex-traders turned marketeers? If so, he is one of the rare people who spent a decent amount of money with those clowns and actually learned to trade profitably. Senters was once overheard as saying that newbies are going to lose their money anyway, so why shouldn't he and Carter take some of it before they lose it all. Cynical and sad, but true.
... the trick with catching reversals, is to know when NOT to do it [work'in on it ]. In the meantime, my 2 trades generated 5 times as many points as the OP's example using 13 trades. I'll stick with what I'm using ... and here it is for free [you can mail me a check if you make money with it ]. Later, Jimmy Jam In case anyone is curious, that's a basic RSI on a 5 minute YM chart ... yeah, I know, tough stuff.
Really? Must be my eyes - take a look at the first 4 trades again: Sell 52 Sell 58 << Avg now 55 Buy 53 << Loss of 2 Buy 55 << BE trade
I like playing with hypothetical concepts too. The sad truth is every trader will have losing days and perhaps a lot of them. Puretick isn't tracking 20 YM points per day and it is operated by a "professional."
Didn't I read in some other thread you are looking for $500 per contract, per week? Seems to me the posted brokerage statement (albeit for just 1 day), meets that criteria. $120 or so net for the day, trading single contract = $600 per wk. (You can argue with yourself over the fact that she added on a couple trades for a total of 2 contracts.) Who the hell are you to say what style of trading is good vs any other style? I don't watch Cramer but one of the few times I did, he said something that made sense... Your bank doesn't care if your deposit money comes from a Google trade or if it comes from 1 day or 1 years worth of work. I hope the swelling goes down. Play what you see, Osorico