sm_jew

There is no Holy Grail. But there are good trading methods. Find them and you will do well. People who rely on promises of others will never make it in this business.

Old stuff, but still interesting. Probably of academic interest only.

The foremost way to make money through forex market is to ensure your trading. If you trade yourself, you will surely get guaranteed results. However, it may take a bit of time. But this strategy is quite favorable if you consistently follow it.

 

Yes, I agree. Your way is the best way, which also means a lot of practice first and foremost before you start trading with real money. However, a good mentor can help, if you can find one, which is not so easy. Forex attracts really bad vendors and mentors that prey on poor suckers. It's better in futures.

Dow will drop from now till Mid-April or so!

 

A statement like that without mentioning the size of the correction you are predicting is not very meaningful. Sure, it may drop 200, even 500 points, but why would you want to bet on something like that when you can make much more on the long side in the long term. I have some long position in Diamonds and I am not unloading it until 14, 000. Put it on when the Dow was at 10,000. I think we will see 14,000 in the next 12 months. At least I feel much safer about the long side.

Who cares what it is called, does it work or not that is the real purpose of this post.

 

have a nice day /;-)

 

It may work for some, it won't for others. That's the art part of it. I don't think this is a mechanical system, but simply a trading method that assumes discretion as most of them do.

want to find out anyone has any views?

 

i think dow will be falling after new year. now is window dressing period.

 

target 11000 for dow by march 2012.

 

If this chart is correct, you are somewhat off. By 2000 pts. ;)

 

http://futures.tradingcharts.com/chart/YM/W?anticache=1331417947

 

I think it's safer to bet on shorter term moves.

In the long term, 5 years or so, it will definitely go up. Meanwhile I just keep scalping it in the intraday direction (1-5 minute timeframe). Works just fine. YM is a good trading vehicle.

That was a very promising start. What happened? I hope you are okay.

I have thought of switching to Sierra Chart, but I am still using Ninja. I like it, it's free for charting and analysis, and for trading I use some other platform supplied by my broker with no fee. I agree that IB is a very good broker if you have money to spare, but for those of tighter budgets, I would not recommend them.

I don't mind paying for value and have done so on a few occassions and generally have been happy with my online deals so far. I just don't see the point of paying for something that others contribute for free.

Elliot Waves work great in hindsight. There is some science to trading, but I think it's still more of an art.