I'd like to reply to the "zero sum game" idea. It certainly applies, or seems to apply, to securities trading in the short term -- the shorter the term, the more it seems to apply. However, I think in the deeper analysis, it does not. Capital is an asset in the market for goods and services. Efficient capitalization of an enterprise is a win-win situation. A guy with a better mousetrap is able to manufacture, advertise, etc. and makes more money. The investor makes a good return on his investment. The public gets a better mousetrap. So far so good -- it's a win-win-win situation. How about when John buys the initial offering of XYZ for $10 and then sells it to Peter for $20? It's still a win-win situation, despite the element of risk. Peter, basically, wants the risk that XYZ is going to flourish and his investment will be a good use of his capital. John may have another, better place to invest, or want to buy a new boat. It's important to see that if you eliminated risk entirely, the market would still exist. In addition, this liquidity enables increased efficiency in the capital market, because John was relying upon it when he made his initial investment. Even the very short term trader (with the possible exception of some scalpers) makes the market more efficient and increases the amount of capital available. It is still not necessarily a zero-sum game, at least in theory. Capitalization of business creates value where it didn't exist before. If you bought the initial stock in say Coca Cola or a good bank or utility, you saw better income over your entire lifetime than if you had hidden the money under your mattress. So let's look at the day trader. It appears to be a zero sum game at the single trade level, and an individual may indeed go broke while other individuals pocket his money. But in the aggragate picture, daytrading represents an investment vehicle that benefits both the traders and the "consumers" of capital.
You want a specific method? Subscribe to the S&P oscillator. When it hits -5, buy. When it hits +5, sell.
I often try and share my methodology, but I realize that not too many people here have any background in technical analysis . . . Posted yesterday: Did anyone have 1264.29 as an SPX target today? It happened to be a 61.8% fibonacci of the most recent run up from Monday's low (1247.44) up to the 1291.67 high of yesterday. Also interesting to note, the first leg down off of the 1291.67 high into this morning's opening low was 18.61 points. Subtract 18.61 from today's lunch time session high of 1282.89 in order to project a "measured-move" downside target and you get 1264.28 Got within .01 of today's actual low of 1264.29 http://www.elitetrader.com/vb/showthread.php?s=&threadid=133535&perpage=6&pagenumber=1
To the OP: What can this site give you more? I think it's more than enough. You're better off expecting for somebody to give you some technique for fishing rather than give you the fish.
wen u buy something it's because u think it's undervalued and worth more. so you are ripping off the guy who sold it to u since ur just gonna flip it for more cash. wen u sell it's the same thing u think it's overvalued and worth less, otherwise why would u sell? again u r ripping off the guy u sell to since it's gonna drop in price. so trader is just ripping people off all day. so that is there mind set.
Case in point. Cabletrader is not real. (why not share for free)? How will it hurt to share your knowledge? What then is your purpose for coming here? Landi82 is the type of member you should listen to. He shares his knowledge freely and open with no thought of reward. I too use Fibonacci levels. Support and resistance are critical levels and of course what Volume action is at these decision points. First start with Market analysis then Sector analysis and then individual stock analysis. Do not fight the trend. And most important manage risk. I will share some of my methodes soon as I am still getting aquanted to this website. I am a pure Chart Technician.
you are not ready to become student of trading, so you cant see there are many willing teachers here... you want a very specific advise, but you even haven't a courtesy to mention what specific market that you trade... you expect your teachers can read your mind ?? You sounded like another moron. may be you need a much easier advice to get money: "Pick up a rich woman to marry"
As others have already pointed out. Why on earth would a successful trader give you free advice on how to trade? Why not ask Buffet or Trump please tell me how to make billions in detail please? Security would escort you out before they even answered. I've been trading successfully since 2001. No one showed me how to trade I learned it through drawdowns, market trends and blowing up small accounts. And over time I developed a trend that works for me. Not everyone else just me. Would I give you specific details and my time for free? If you have half a brain you know the answer to that already.
Just because someone doesnt share point by point EXACTLY how they trade doesn't mean they don't contribute advice or knowledge to other ET members. No one is under any obligation to share anything and, frankly, anyone who is angry that they aren't being given turn by turn directions is probably not someone who has the drive to make it anyways. The best candidates to "help" are the ones who see value it ET in the bits and pieces of wisdom scattered around and whom take this wisdom and sit in front of the screen doing their own work. Not someone who just signs up to complain they aren't being spoonfed well enough.
Hey maybe Coca-Cola could also reveal their secret recipe to ET so we could all forget about trading and sell coca-cola instead.