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>I have been reading, and observing the Posts made by Real Traders for about
>5 months now, along with the Market predictions, different formulas, i.e.
>charts, lines, forks etc., and not only do I find allot of conflicting
>ideas, I truly do not see any consistency in any of these ideas!
>
I get in and out, go to bed, wake up the next morning and do it
>again. I just do not understand, how anyone, even with charts and
>indicators, can predict the future of any market?
Since it appears that I can receive all the posts from RT, but, despite all
efforts by Eddie Kwong and his staff, I cannot send on my own account, I am
hoping I can do a Reply to All and that this will arrive.
We will see.
But the point is, that I would like to say just how much I agree with the
sentiments expressed by Craig Smith. Day trading the T-Bonds is a way of
making a living. Once you have learnt the ropes and understand what it is
all about, it is very feasible to do it day after day after day after day.
But to position trade it, is as impossible as any other market. How the
heck any private individual can make a living out of that, I do not know.
I can understand how you can speculate. No problem. With large amounts of
capital, the ability to withstand drawdowns and using a blend of
fundamentals (COT, Open Interest, Volume, etc) and technical analysis, I can
see how one could make sizeable chunks of loot position trading. But making
a private living out of it......
Every day, I do what I do do and my brand of TA in a truly liquid, near
slippage free market allows me to make a living. Over night, I sleep - but
I do need to know what the Globex High and Low are the next day - but that
is my sole interest in what happens when the day has ended. The next day,
I do what I do do, again. It is not a stressful way of putting bread on the
table. Believe me!
But guess what? The only indicator you need is called PRICE ACTION. The
only indicator that works consistently is called PRICE ACTION. The only
indicator that doen't lag is called PRICE ACTION. And where does the PRICE
ACTION count most? At major support and resistance levels. And where do
you find those? Where the PRICE ACTION has shown you where the PRICE ACTION
has been.
Trading is not complicated, but by Fibonacci, traders try and make it so...
Bill Eykyn
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