Key levels are like magnets. Today, SP500 just breached 1500 level. Russell 2000 pushed through 900 level. In addition, after Dow and SP500 breached their 52 week high this past week, traders should have been wary that what was resistance has now become support. Hmmm, this TA stuff might have some validity after all.
Any price dependent day trader who is not a fade monkey would be doing quite nicely I would imagine. Alot of folks have trouble accepting reality. Again, the market is what the market is. Arguing against the market is a tough way to be a profitable trader.
I'd also add that if you try to argue against the market, you're in the wrong camp - not just because you're always wrong (if the market is always right) but because the market is designed to go against you and cause the maximum amount of pain possible.
what you say a BS. Accepting reality is one thing, beating the index the other No day trader with proper risk management would make 6% in this environment in 3 weeks
Day traders can beat the index any day, baby! We pikers get to latch onto the INSTITUTIONAL MONEY that DRIVES PRICE and get a ride to the bank every day. I made $200/contract buying the new high of the day in crude oil following a "bearish" news report. Who knows more, me or the institutional traders who interpret the report and drive price? Price action rules when you follow price action rules! Al Brooks, I love you! I wanna have your baby, baby! (No, I'm not drinking.)
No BS - you are being selective in your criticism and dismissing what else you said in your same post. You also said in that post: Well, you could profit as a daytrader if you did the obvious and bought the thing. Seems obvious to any clear thinking rational person IMHO. You might have to buy an offer and rely upon a trend continuation. Every trader on ET proclaims that he or she trades along with the trend and the trend has been obvious in the timeframe you refer to in your post.
Waiting for your lil rubber band to snap? You still have not learned a godamn thing about markets have you son?