brownsfan019

Asking what indicator you like really doesn't mean much unless the person then teaches you how they use it. For example, in this post the OP mentions uses of 2 different moving averages. Those can be found on any platform easily. All throughout this forum, you will find discussions of different indicators but it requires YOU to do some leg work to find them and then research them. And if that's not good enough, head over to stockcharts.com and read up on the many different indicators they discuss there or purchase a technical analysis book from Amazon.com like a basic one or a detailed one or an "encyclopedia" of patterns. Good luck and feel free to post questions after you have decided to do a little leg work first.

Nice pics James. Thanks for sharing.

no prob - why didn't you guys just ask.

This new thread might give you an idea or two to work with.

How about we just let Steve post what he wants. If you like it, great; if not, head back to DB's area. The title of the thread is Ideas for Struggling Traders. If you are not struggling, then there's really nothing of interest here. If you are struggling, then keep an open mind to a new idea. I personally like the MA's that Steve is using here for intraday trading. I realize that it's not fixed horizontal levels like Wyckoff, but that means nothing. As my high school math teacher used to say - there's more than one way to skin a cat. That's such an odd way to say there's more than one way to do things, but after all these years, that saying has stuck w/ me.

You just need the current and future day's turning points? Is that all?

If the method is simply buy when XYZ happens, then sure. But that's only if you are able to program what XYZ is.

Who knows what the volume will be like years from now. Probably more, but who knows. Maybe a new product will come out that will kill futures. Just focus on making money w/ 1 contract for now.

Ain't that the truth.

I agree w/ that statement to a point. When I was swing trading stocks, the idea behind tests of S/R (and even true intraday as well) is that a level can be tested about 2-3 times and become stronger each time. HOWEVER ... the likelihood the level will BREAK becomes very likely after 3 times. In other words, after testing a level for 4+ times, there's a good chance that level will break. That's what I found at least when swing trading. You never hear of a quadruple bottom/top b/c more often than not, it fails IMO. So just watch your markets and see how they react before making any conclusions as each market is different.

If you want critiques of the approaches you are considering, I'm sure a few here would be willing to critique them for you. If you'd rather keep them private, that's fine; just keep in mind that the advice some of us can provide will slow down once you start talking specifics w/o the specifics.

This site has some really great pet pictures. Should bring a smile to your face, esp if you love dogs! :thumbs up:

Good ole pen and paper. Just one suggestion ... the market is not going anywhere, so make sure you take some time to be a kid too. TRUST ME on this one as time flies by and before you know it, you'll have to be a responsible adult. Your work and determination is admirable, but make sure you take some time to be a kid too. Work hard AND play hard.

How's the quality w/ that? Do you notice any difference?

I mainly focus on intra-day trading now, so my version of S/R is a little different than viewing a bigger timeframe like you have done here. Keep it going though, I'm sure there are plenty that are watching the thread!

I think it depends on how you define the S/R. That's the first step - is the S/R valid and if so, why? I'm not saying your lines are not valid, but they mean little if one cannot trade from it. From a swing trading perspective, I think it is easier to draw the S/R lines and I do it myself when looking at a longer term perspective. I guess the next step of the thread is to document possible trade setups in the future and see how they work. As you know, finding a possible place to enter is only one part of the equation.

Interesting wasp... question at this point is how do you trade w/ all these lines on the charts? That's not an attack, just a question. From an outsiders view, I see a bunch of lines all over. So how does one use that to actually trade? And are you using this for intraday trading or swing trading?

Purely for $ and taxes, trade futures. You will pay a lot less, assuming you are a profitable trader. Much easier at tax time as well.

Well said. Don't put the cart before the horse.

Everything I quoted is for futures contracts.

Oh yeah - the 60/40 split is VERY ATTRACTIVE for futures traders. In other words, that's a good deal compared to stock traders! :thumbs up:

I think I know how futures are taxed. http://www.traderslog.com/futures-trading-taxes.htm http://www.law.cornell.edu/uscode/26/1256.html Straight from the IRS form (which is also attached to this post): f6781.pdf

* 60/40 tax treatment in US * easier to focus on a couple markets, or just one * leverage Those are the 3 main things for me.

One other idea I had this morning - you'll also want to test your ideas over a variety of markets unless you are trying to custom fit to the NQ. For example, the CL (oil) can really move and is very different than an index. Yes, it's 'expensive' to trade there and a few mistakes will wipe you out, but I think it's worth at least looking at. If you are looking for some trending markets, at times the 6E (Euro futures contract) can trend as well.

Here's how it looks: