Friday, September 18, 2009


used my favourite trick of selling as the candles change after that big pop, will buy on pullback

AIG
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3 comments:

bluecollartrader said...

I've wondered for months when you make your changes... just before or just after the turn.

6:51 p.m.
Scott said...

sometimes before sometimes after sometimes right on the change. the important thing is to take the profits

8:50 a.m.
bluecollartrader said...

Got it... It depends on the situation.
You've stated repeatedly that price is prime in your decision making. Do you ever anticipate where price is going based on the support and resistance lines? True, it is impossible to predict the future, but price does seem to be attracted repeatedly to certain levels of S&R and I wonder if subconciously you "see" any of your direction changes at these points, much like a doji is an area where you "see" the probabilities going against you.
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One of the hardest parts of learning this art is knowing what is unnecesary to study and what is absolutely crucial and can't be ignored. Sometimes I believe that I may have wasted days upon days focusing on something when it doesn't make a damn bit of difference. Right now, I am focusing on S & R and its relationship to the spots where consolidation takes place or where price changes direction.
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Perhaps just tuning in to the subtle price movements would yield the best results...?

5:07 p.m.

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