Exactly. Kaizen, a system of continuous and incremental improvement, is applicable to many things in life, including trading. However, when using a tool which depends on consensus opinion for it's strength and validity (i.e. S/R) it would seem ludicrous to eschew obvious visual levels for those that are mathematically determined.
Hi everyone Some really nice opportunities today, especially this last short from 44.75! Great set up! Thank you all once again, I know i've said it a million times, the comments I have received have been great. Great to know that some of you are making some good money using the levels.
Yes...maybe anyone can plot a s/r level but how to trade it is a completely different story. However, the issue is that the process of deriving the info is simple to some that may be via a calculator that does it for you or via visually (implies it's being manually derived). Currently there are about 5 different threads here at ET with traders discussing s/r levels for over the past few trading days... From what I've seen, nobody was using the same levels and have mentioned at least once in the past about how easy/simpler it is. In addition, via comparing pivot calculator derived s/r areas and visual s/r areas... One could debate that s/r work being performed by a pivot calculator or s/r software that plots it all for you instantly... Is the most simplest form due to all the work being done for us (no thinking). Wouldn't that classify as being the most simple way. I've asked that question elsewhere and the answers has been mixed... Yes and No. In contrast, I've seen where others say deriving s/r levels via visually analyzing the data (more thinking in comparison to letting a calculator do it for you) is easier/simpler. That's my point...it's just a matter of perspective about what's really easy or not and that' directly related to the trader even if its a 10 year old kid. Yet, I've met profitable traders doing both (pivot calculator or visual). An analogy...there are traders that ONLY use one monitor for trading. Yet, others use multiple monitors for trading. Aren't using multiple monitors too much work (not easy) in comparison to using only one monitor for trading ??? Is it possible that one monitor may be reducing one's trade opportunities by it's own limitations of not having enough screen area ??? Are there traders that have the ability to process more information from multiple monitors in comparison to others using only one monitor ??? A few things to think about. Precise levels...hmm. The fact that many swear that their s/r levels is simple and precise makes me wonder sometimes. Let profits speak for precise. If profitable...they are precise enough. P.S. I don't use a pivot calculator. Mark
Hi everyone Tomorrows numbers! Due to some commitments tomorrow I am having to post the numbers now rather than my normal time. If you would like these via email please check out my blog at www.spamblog.com Always remember to use the numbers as a guideline for potential areas of high probability plays. Always use a setup based upon your system to enter that trade Thank you all for your support
Why do you suddenly need a "blog" when you said you would be posting here??? ("I will start posting this on the forum regularly as long as others find it of value") To eventually start your own site/paid service on the back of ET ??? If you are doing something like this, then pay the sponsorship fee. Stealth shepherding of customers/subscribers and building up your own site on ET's nickel is against the terms of service, so I will be passing this over to the admins for watching.
I'm watching this thread like a hawk now.. will make further judgement as thread develops.. On second thought I have had to change so many links and delete others in this thread that if I see one more. *Poof* threads gone. Post wisely..
Wow ouch you leave for a morning and all hell breaks loose. Firstly I started the blog before joining ET, and it was aimed at friends in my trading circle both newbies and veterans who were liking my levels. They loved what I was doing so I thought I would expand it to this forum. I make a great living from trading, and enjoy a freedom in life that few get to experience. I guess I wanted to make an impact on the trading community with my ideas and thoughts, and hopefully benefit everyone and I thought a blog was a great way to do that. The information that I have been putting out there is hardly revolutionary, its all avaliable free of charge from the internet (pivots levels, S/R etc) You can look at my worksheet once and work out how its all done, I just wanted to help people get to the light bulb moment and judging by the emails I have received many have. By the way Short at 18.00 Reversed trade using 12.00 level now long. I was unaware that I wasnt allowed to post my blog link, noone said anything at first so I assumed it was ok. I apologise if I have made a mistake there. Anyways I hope that the information I am throwing out there is helping. Whilst writing this message I have taken my trades for today, all very simply using S/R. Anyways good trading all.
I think you're both being unduly harsh on ES as an equities trader looking to learn a bit about trading futures this thread has been a great eye opener with no suggestion that a subscription service is coming. keep up the good work
Just as an fyi I am still trading the September contract, I always find rollover time a little difficult to trade, and like the new contract to be "worked in" a litttle before I switch