Kingfish has alot of computers, and he installs Paltalk on them all. Then he logs into his paltalk chat room with different nicknames from his computers and pretends that they are different members and he even has chatroom conversations back and forth with himself to make it look like his chat room is busy and making money. Think smart people. If Kingfish was making any money, then he would not be running a chatroom from paltalk(paltalk is free). He would be like Warren Buffet and work alone. kingfish is a fraud out to steal your hard earned money and laugh at you. And for your records, his real name is "Steve Boyd". It isn't kingfish.
Hi SarahG, Based on the description, Kingfish most likely keys off of the Pivots, 1st Support and 1st Resistance when making his calls. Here's Tuesday's action. *** To assist in my analysis I am using the following indicators: The chart is a basic 5 minute chart. a) Pivots/Support/Resistance are placed on the chart and labeled. b) I am using the PSAR to determine candlestick trend. c) To assist me determining the short-term direction I am using the Fast Stochastics with a setting %K @ 45 and %d @ 1. *** The market opened lower, breaking through 1st Support. When it does this it ususally represents a good selling opportunity. a) Breaking below S1 b) Sell Mode c) Shows market weakness
Here's last Wed. a) Market is exhibiting strength, opening between Pivot and first Resistance. b) The PSAR is exhibiting a buy signal c) The Fast Stochastic is showing market strength. *** P.S. - All of the signals I am pointing out are good for anywhere from 2 pts or more. P.P.S. - In case you are wondering why I am giving away a system on a public forum, this is a system that I learned to use when I first began trading, I have long-ago (with a lot of hard work) evolved my trading past it. P.P.P.S. - John Person is "the man" for trading off of Pivots, you can look'em up on Amazon and give his book a read. He's supposed to be coming out with another one soon. Best-O-Luck, Jimmy Jam
Thur. This one was a sweet setup. a) Market opens at S1. b) PSAR is showing support. c) FST is showing market strength. It's an obvious BUY. Notice where the market bounces off of the Median Pivot (white line) - the PSAR gives a sell signal, however, there is no confirming signal from the FST, so no SELL trade was taken. You get another buy signal, and the market blows right past the Median Pivot and Stops at 1st Resistance. See how it works?
Fri. Classic Sell Day a) Price action opens at 1st Resitance, moves up to 2nd Resistance, and stalls. b) PSAR almost immediately gives an early Sell Signal. c) Fast Stochastics goes below 50, plays around for a while, and the market drops like a rock.
Mon. This is what a consolidating market looks like. Not no Pivot, Support or Resistance was ever touched. I try not to trade on days like this.
Tue. This was one tough day. Buy and Sell Signals all over the place. If you worked at it, you might have some money, but it would have been tough and you would have to go back and forth with the market. This is why I don't use this technique to trade anymore, it does have its limitations (as do all systems).
Thur. The day was choppy, but using this method you would have been profitable. You could have either stayed out of the market (which, for purpose of full discolsure, I Did), or you could have taken the Buy. Note: a) While the market did not touch the 1st Support during market hours, it did hit in pre-market. b) PSAR gave a Buy Signal at around 10:25am ET, accompanied by the Fast Stochastics going above the 50 Line, and holding above it until the market hit the Median Pivot.