Dude, are you the only one that gets the satire? What did I just call cashmoney anyways... oh heres a simile... Don't worry no one knows what we are posting about anyways...
Steve please enlighten us...........I sincerly mean it since you seem to be one of the more succesful traders on this board. How does it work. Myself I would love to believe there is some higher order, holy grail, astro-elliot wave order that works, but this last year just doesn't merit that. P.S. No offense to you elliot-astro folks, I am just skeptical, that's all.
LOL, I wish I knew how to really worked but I definitely know that you cant just pick a day of the week and say "today I am going to buy because its Monday". I mean there are so many factors involved. Thats like saying, well I am going to put all my money blindly into the stock market because "historically" I make 11% or whatever. Say you did this in Feb of 2000? Not so pretty eh
and back on topic for a sec... I got an older re-publication of Taylor's book around 1994. Fell for the whole Angell LSS bit. While there is a 1-2-3 cycle in the market, the impossible to read detail of that book applies only to wheat in the 1950's.
I should have mentioned that I don't use the LSS method from Angell, but I do use the Taylor Technique similar to the way Raschke uses it. Lots of details at her site.
are guys going to really come on here and beseech traders to disclose the secret things of their trading. not even if you wore a skirt. Overview, yes. but the guarded knowledge must remain guarded. if you want to get there you must do the work. study hundreds of charts each day untill you see what works consistently for you, then forward test it by paper trading, or by trading small lots. it will take several months to do. no trader in his right mind is going to tell you any trading secrets, or he and you are sure to turn up at the same place to buy stock.
The complete idiots guide to day trading like a pro pg 198 1 "The strongest bull markets occur during the middle of decades. No year ending in "5" has been a loser since 1885, and most "0" years have been down" 2. "The January barometer" holds that a years market direction can be predicted by January's direction with 91% accuracy" 3. "Dec - Jan are the strongest "up" months and september is the most consistently down month" 4. Since 1990, Mondays are typically up days, whereas Fridays are typically down days" 5. "The first day of the month is strong. From 1997-2004"
I would say if you can consistently find stocks falling apart on Thursday, short them. They will go lower on Friday.