Wall Street = Casino. Minus Sum Game.

Yeah, we weren't talking about possible/impossible, we were talking about 'likely to improve'. You should know that as a long term expert in logic/maths ;-)

LOL - I'm just a believer that people can do great things and that if people have developed a discipline in the first place to trade consistently well, that they are probably capable of even better performance if they put in the effort to improve. I think that's really my only point tbh.

Maybe lack of imagination is the problem......

More than likely it would be very obvious that there would be a big move up at the open due to the large actual % gain and volume in premarket........the driver that got you looking would not normally be the news itself, but rather the premarket action....this saves you from having to analyse every piece of news that comes out to ascertain whether it will impact on the stock price or not.

.....leaving aside the premarket action many day traders will wait for the open and then look for a good entry...so in this instance the opening price / action will tell you that the stock is up....

This is ALL about the technicals - premarket, chart, Opening Range Highs, retraces to Moving averages... etc etc...absolutely nothing about Fundamentals.


No not all, daytrading big gainers on news requires absolutely none of the above....it requires good entries, exits and stop management. I do it all the time.

?????????? What about entries ,exits stop placement ...are you suggesting that you pay no attention to the chart and just issue a buy market order and then sell at some stage later ? What criteria do you use for same ??????????

I have already said that TA works very well for me, which means I am profitable....and at least two of the pro-TA posters here appear to be profitable and also knowledeable about what they are talking about....

What about you - are you making money ? The method in your signature link....what are the stats / expectancy for this ? What % gains has it given you ? Perhaps you should provide some firm statistics before pawning it off on newbies.

I'm glad you find it amusing given your lack of understanding of even basic TA and FA principles.....Im not going to even bother getting into this but I would say that many far smarter and richer people than you or I understand it perfectly well.....

So there you have it - you just dont have any understanding of TA. Why do you incorporate any elements of it all into your method?

TA works because of the following reasons -
Charts are visual representaions of traders / crowds / human psychology acting in the marketsTraders have memories, and so remember previous price levels where price stalled or where there was plenty of overhead supply or demand ie support / resistance et

TA reflects human and crowd behaviour

Self-fulfilling prophesy - if everyone is looking at the same thing on their charts eg a resistance level...and the chart indicates that price tend to stall or reverse at this level , then it is more likely that different traders will look to exit longs at this level, and / or there will be a lack of buyers at this level.....and this is where confluence also comes in - the more factors which indicate the same thing, the more traders will act on it, increasing the self-fulfilling aspect

"More than likely it would be very obvious that there would be a big move up at the open due to the large actual % gain and volume in premarket........the driver that got you looking would not normally be the news itself, but rather the premarket action....this saves you from having to analyse every piece of news that comes out to ascertain whether it will impact on the stock price or not."

If you are talking about the BKS move the above is NOT correct.
Here are the facts:
Pre-market only a total 3650 shares were traded in sizes of 450, 1000, 1000,100,500 and 600. Apparently only six trades. The stock opened only 0.92% higher than when it closed the evening before, well within the previous day's range.
Hence there was NO "large actual % gain and volume in premarket" to provide a "TA" indication of what was to follow.
An anaysis of pre-market action would NOT have alerted you to anything out of the ordinary.
Personally I do not find it at all arduous to glance through pre-market news stories. Sometimes it takes me 10 minutes, sometimes 40 minutes, but I have found over ten years of trading this way that such minor effort is repeatedly very well rewarded financially and that some of the time there is no TA indication whatsoever in pre-market activity.

OK I'm not sure why you are saying DT is correct here, perhaps because you appear to know each other quite well, when it appears that what you are saying is that "even using simple TA there was money to be made " ie you would not have used any aspect of Fundamental Analysis to get into this position

(putting a stock on your watch screen due to a rumour is not FA - alternatively premarket / opening gainer data could have been used, again nothing to do with FA - I would say this is all Technical because all that is of interest is that the price is up strongly, with no regard to analysis of the intrinsic value of the company.

You could have absolutely no clue about what the company is about in order to do this. This is what I do also.

I was not referring specifically to BKS, but to stocks which are generally very active due to news.... either in premarket or at the open...

IN the case of BKS if there was no premarket activity, the opening volume / price would certainly have provided an alert that something was up..