While I certainly agree, the problem is knowing that the vehicle you're watching isn't the one that's having the main spike. For instance, I was watching the ES and saw it drop over 12 handles in 1 minute. Sure looked like it was spiking to me, and spiking seriously because I don't remember ever seeing that large a move on a 1min bar! And while after-the-fact I saw that it "only" spiked about 1.4% (compared to the 6% spike in the YM) while it was happening I had no way of knowing the so-called source of the drop. And by source I don't mean the reason for the spike (clerical error, nuclear attack, assassination, etc.) but whether the vehicle I was watching was the originator or simply moving a lesser amount in sympathy.
I guess you would need multiple screens to tell that. I have enough trouble watching one! I know a lot of people watch 3 or more. And lightning reflexes.
I have multiple screens, with a variety of charts covering a number of timeframes. But none of them include the YM.
Nice spin, Jack. You began by saying "you have a lot to learn," a typically arrogant and condescending remark, then adopt your usual "let me show you how it's done" approach. You and Mr. Market are perfect for each other.
Opportunity at 980? Based on what? What are your criteria for an entry? At 975 you had S2, if you know what I mean and a nice stochastics divergence to boot. Well, at least you had something to rely on, but at 980? Also, it's always safer to buy when the price is starting to move up as opposed to catching a falling knife... When its starts moving up, you have some idea where your stop loss should be placed, if it is still falling, how can you know that?
As always, phoenix, you have to start by criticizing intentionally constructive (as opposed to you) people again. Regarding 'typically arrogant and condescending remarks', and "let me show you..." I remember you giving me the same stuff over and over, after I tried to explain something. Well, those condescending remarks, in my case, came from somebody 1/2 your age and quite possibly more than 2X as succesful as you. But all I intended is help. I don't need your constant abuse. Nor does anybody else here. In bubba's case, you see, you're half HIS age, he's 4X my age, and chances are he is 4X as successful as you are. At least. He's somebody who's made some very enlightening posts on this board and shared a lot of valuable wisdom, of course duly unappreciated by a loser-wannabe-trader like you. Look at bubba, he sets himself 100,000-shares-a-day trading limits on some stocks to avoid illiquidity traps etc, while you're still pushing around your 100-share-lots of SUNW and JDSU all day. But that's fine. That way at least you don't lose too much and you can frequently come back here to abuse people to channel your frustrations with the market, which is simply smarter than you. And what's the point in trying to correct somebody like you. Really, you should consider some professional anger counselling, and frequent martial arts classes to channel your destructive urges. You see, saying that the market is smarter than you is simple - because you have no humility. You're arrogant as f*ck. Arrogant posers all get washed out eventually. One day, they won't rise from the ashes again, even if they're dbphoenix the burning motha-of-all-flamers. Think about it. Mentioning him, as a truly helpful and contributing trader, in the same sentence with Mr.Market is the apex of offensiveness and arrogance! How much better than Mr.Market are YOU? You're doing exactly what characterized Mr.Market! What's your problem man??? Has he thrown you out of his bed? I feel sorry for you, dbphoenix. Get a life man. Sincerely, ~The Scientist
Awwwwwwww. Snowball fights are much more fun (especially when they end up with rolling together in the deep snow afterwards in glee...) Natalie