In repost!
My trading ideas are 'simple', but that is how I like them. Given the choice between a simple strategy and a complex one I would go for the profitable one. I share my trading ideas for a modest fee and these ideas are heavily influenced by my experiences as a floor trader. On the floor you learn to trade by reading price and volume, it is simple, but it ain't easy. I know quite a few floor traders who have made many millions and I know quite a few traders who are expert technical analysts, but they aren't very wealthy.
Support and Resistance usually refers to the expectation that the market will find resistance at previous highs and support at previous lows. I certainly don't trade off such ideas, nor do I teach them. Perhaps bottom dollar you should watch again.
My example about making $1750 a day is to demonstrate that successful trading is about having an edge and applying that edge again and again. Small improvements in your edge make significant improvements in your profits.
Below I will copy a couple of emails from customers who have found my presentation very valuable (to even the argument). But in parting I would like to say that I don't claim to turn all customers of mine into successful traders, how could I? I am much more modestly offering my ideas and insights into trading (for an equally modest fee) and if that helps expand my clients awareness and perspective of markets and trading then that is a very worthy result.
"Malcolm,
hello again, I just wanted you to know that I am very impressed with your strategy especially after watching it now for a week or 2 . it is amazing and once you recognize the signs they are so obvious. I can't believe that I haven't noticed it before and I have been looking at charts for 13 years. I have also added a (deleted to protect privacy of author) as a filter , looking for crossover in OB/OS area and divergence/convergence to help eliminate false signals. what is even more amazing to me is your profit projection , often times to the tick.
Everything else I have been looking at gets you in after the run is well under way and with way too much risk. I have often times said to myself that I wish I could read the market to get me in at the tops and bottoms. That is exactly what your strategy does. thanks again for sharing this knowledge.
Thanks,
Dennis"
"hey
just took 14pts in 5mins in YM market this am using
5min bar ******* formed from the AM drop.
--Jerry"
"took 3 pts from NQ long from after *******.
Exited too soon....
I like taking profits...
--Jerry"
