OAC

Thanks for your excellent contribution. According to the above chart, the two entries are below the Midpoint of opening 5-min candle. I thought your rule #4 said: If the open is above the daily pivot, look for long entries above the midline of the opening bar or candle. So my question is when do I make the exception ? Thanks

The entire futures market was created for the commercials to hedge their porfolios whether is pork bellies or stocks. Like an insurance policy, the hedger pay a premium that goes to the speculators who assume the risk. It takes both parties to make the wheel go around.

Check this out: http://www.dynamictraders.com/reports/specialreports/dt-special-stock-bond-report-2007.html This special report was e-mailed to me in May. Robert Miner was projecting the end of the fifth wave of the fifthwave of the fifth wave of the long-term elliot wave starting in 1982. The way things are going make me think this guy may have made the right call.

Brownsfan, I noticed that you have been trying to get Abe to use the VBC lately. If I remember correctly, Abe has an account with IB . IB only update volume when the price changes. which is different from other data vendors. How will that affect his charts ?

Dear Doc: Most of us here are professional traders or striving to be professional traders. We treat it as a business. Those who don't treat it as a businesss have no business in professional trading. As for those who have addictions and trade emotionally ? I wish there are more of them because I love to take the other side of their trades.

The book is over-rated. It may be a good book but definitely not great . The book contains an assortment of different techniques which may wet the appetite of an uninitiate. but each chapter lacks depth. The book essentially becomes a "jack of all trade and master of none" variety in my opinion.

Yes, I am using 9EMA, similar. But they are using 200sma on the 5-min chart

First, most people have misconception of trading. How do you earn an advance degree ? How do you become a professional athlete ? Becoming a full-time trader is no different: YOU WORK LONG PERIOD OF TIME WITHOUT PAY

Oops ! I am guilty. The last time I turned on the TV was when the Dow had a sudden drop of only 200 points. It turned out a small plane had flew into a highrise in Manhatten:eek:

Today's action was choppy, but the movement of the day was a normal consolidation after yesterday's drop. In the morning, the market rallied to test yesterday's POC, then at noon it went down to test yesterday's low, then the rally failed in the late afternoon, then it sold off hard. There were numerous setups today. What really gets me is that I normally look at intraday charts all day, don't normally look at the daily chart until the market closes. I noticed that the last 2 days had really huge volumes in the cash indices:(SPY, DIA, IWM...etc) I wonder if anyone else has noticed this and what this might mean ? I think in VSA terms, this market has a very negative bias. Wide range bars closed near the lower extremes, heavy volume, and one key support failing after another ? Any comments ?

Hi Abe: A little suggestion for you. In the previous post, you said your objection to setting firm stop was being cumbersome. In actuality, it is really simple and take only a fraction of a second and one keystroke with Interactive Brokers. Try to study on how to set up Bracket Orders and how to set up Hot Keys. It makes a huge difference in the heat of battle.