Indicators are liars! Support and Resistance Trading for the S&P emini

Switch to Bloomberg channel and you will see why I say big chunks of days like today are very low risk.

regards
f9

 

Agreed. I did not trade the early morning because I felt the market was too fast. I started trading around 11am.

I really understand where you are coming from with the "evolution" piece. I feel that itis my duty to constantly improve myself, my trading, golf game... and more. Trading is certainly no exception to the rule and demands the most evolution and adaptation to keep up with ever-changing markets. Market personality changes by the year, month, day, hour, you name it.

Risk averse is good... fast markets do not lend themselves to small risk trading IMHO. I try to stick with risk averse trading and I am okay with a few small failures. My biggest problem in the past was trading with no stops, a vague plan, and large risk points. (e.g., pain stop)

Best,

Stone

 

I am not sure I completely understand where you are going on this one. Are you implying that the market slows down eventually?

 

Not at all.

When it is obvious that the market is to be driven in one direction against all and any resistance then just lock on and enjoy the ride.

You see it building some days in the afternoon session.

regards
f9

 

Hi everyone

Please find attached todays levels.

Always remember to use the numbers as a guideline for potential areas of high probability plays

Always use a set up based upon your system to enter a trade.

Good trading all

ESResistance

 

what are the rules for trading these?

 

Personally I think Buffet is an extremely good investor, but also get the impression he likes the sound of his own voice and like many Americans in the present generation, get puffed up with their own importance.

Buffet, as a fundamental trader, would be losing money countless times in countless situations.
Fundamental analysis is the long term picture and (1) he would be wrong often (no different to a technician and (2) in the short term and at present, he would be losing money hand over fist.

All very well to say “The first rule of trading is to not lose money" but like all bullshitters, it sound good in theory and makes his disciples feel all glowy 'n' warm’n’fuzzy while worshiping at his feet, but it’s still bullshit [don’t lose money] which ever way it’s wrapped.

Fact of the matter is, trading or investing is all about winning and losing money.
Just win more than you lose.

But .....'don't lose money'...... BS!

 

The first rule of trading or investing, "You will lose money"

You cannot make money without sacrifice, and that sacrifice is, lose money consistently while making money.

 

37.50 worked very nicely for me this am.

Wanted to point out to anyone new to the $TICK - I pay no attention to the $TICK before 10am. It needs time to "get started" and be of real value.

 

did you take the trade at 11:23? How well did it work out for you with your stop?