Well in the interests of peace and harmony, I will say that although I have had my differences with ODT in the past, I perfectly respect his right to keep his system to himself if he chooses to, and if it's making 200% per annum, good luck to him.
And I'm glad to hear that it's possible to make a living out of spread betting. I never doubted really that it was possible. I used to underestimate the difficulty of actually achieving it, and a bit more experience has educated me in some of the difficulties of actually achieving this. I'm sure that I'm in store for a lot more education before much longer.
As for support and resistance, I am beginning to formulate my own theories about this, which I will not ramble on about here, partly because they are not fully thought-out, and partly because it may turn out they are just an unconscious regurgitation of strands of thought I have read here and there. I have also developed over the last few weeks, empirically as you might say, one particular "system" (or method), highly discretionary, which does not use any indicators, does not depend on trends, and only really has a passing nod to support and resistance (dynamic or otherwise). This is just for one particular instrument, which (for the moment anyway) has a particular characteristic. Whether it will continue to work or not I really don't know, which is partly why I am keeping stakes modest, but it's certainly working at the moment. It could possibly be fully automated, but I'm happy enough for now with it in its semi-automated state using multiple limit open and close orders.
Well they say don't they that at the end of the day, you actually have to learn to trade your own method by yourself, and this is about the closest I've come to that so far. I'm sure it won't turn out to be the holy grail and it's certainly not the only way I trade but to date it has been the most reliable (except in the past when I hit long trends more by luck than judgement).
