Many, many thanks, Sevenfirs, for taking the time to type all of that out. I'm one year into the journey, so if you're correct, then it's only 1-2 to go. Actually, I think I'll be consistently profitable by the end of February 2006. (now it's public!) Thanks again for all the info.
If you've done all the reading and studying and planning that you say then the following won't be anything new to you. 1) One of my fav candle patterns for long entry, HARAMI... buy just above the high of the harami, and stop just below or at the low of the harami. Works well for me on 5m or longer. 2) For long entry THREE WHITE SOLDIERS. Combined w/oscillator divergences is one of the lowest risk chart pattern entries I use. Works with all time frames I use. Here's my method... Buy around 50% fib-retrace of the pattern. Stop at or just below close of the first bar of the pattern. For short entry THREE BLACK CROWS works the same, in reverse. If you're paying attention, you'll notice the soldier/crow pattern also provides opportunity to play the anticipated retracement. Gotta go find some new chart patterns for myself. :eek: Good luck to you. Osorico
Proved my point fellows.....indicator says lack of experience.....helloooo........sorry........more patterns? it has nothing to do with patterns...........support resistance....volume..........PRICE AND U.....CANDLES LOW PERCENTAGE STUFF........U EITHER BUY A CONTRACT OR U SELL A CONTRACT.....YYOOOUUU WWWIIINNNN..LIKE ARGUING WITH MY CHILDREN.....I CAN'T WIN....VOLENTE IS A NICE GUY AND I AM SURE ALL THE RES T ARE AS WELL.....I HOPE ALL MAKE MILLIONS TRADING........
Does this mean you are finally going to go make your Billions with your 100% accurate system and leave all us newbee traders to our own devices? Buy = green, red = sell. Can't be any easier than that. quack, quack, waddle, waddle
I did not like the volume on Friday's selloff. Why were the generals so eager to sell so much ? In other thoughts, February's option action says we head back to 10800 in the next month, but we could fall about 60 points lower but there is decent support from previous resistance from 600-650. http://stockcharts.com/def/servlet/SC.web?c=$INDU,uu[h,a]daclyyay[dd][pc20!c50][vc60][iUb14!La12,26,9]&pref=G One thing I do like is we are finally getting the 50% retracement from from 10162 to 11053 which just happens to be right at the 200 day ema. http://stockcharts.com/def/servlet/SC.web?c=$INDU,uu[h,a]daclyyay[dd][pc200!c50][vc60][iUb14!La12,26,9]&pref=G
I have found a new idol. http://www.elitetrader.com/vb/showthread.php?s=&threadid=61514&perpage=6&pagenumber=38
jocgoodman, tell us your story, what kind of strategy have you been trying on ym, etc etc. There are alot of good folks here that are always glad to help fellow traders get on track.