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Daytrading the S&P 500 and Emini S&P 500 by Price action!
The Approach

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Here's what I look for in determining direction...

My Philosophy

First off i look at opening price to determine whether to look long or short..simple...I use support and resistance as an aid to timing.....Breakouts of support and resistance are not enough to determine momentum...I qualify the breakout with a "push" method to determine continuation with the long or short side....This approach offers the ability to identify whether its wise to continue in direction initially determined....Failure to qualify can indicate deeper retrace or reversal. I show how to potentially take advantage of reversal as well as trend continuation. My belief is its better to take fewer more likely trades than larger riskier trades that may payoff large dividends on fewer occasions than the string of losses in the attempt...Not good for the psyche, and daytrading is emotionally intense.And don`t bias yourself to being bearish or bullish.Be able to position yourself to go long as easily as you would going short and vice versa!
DON`T BE A BEAR OR A BULL...BE A TIGER!!!

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Price ONLY!

I use price only to determine market direction and timing.I identify the MAJOR and MINOR trend easily using PRICE ONLY! I use NO technical analysis whatsoever (Stochastics,RSI,Cycles.MA`s TRIN etc). I use NO chart patterns whatsoever (Flags, Pennants,Head and Shoulders,Trendlines etc).I use no astrological indications,I use no techniques that would require any complex knowledge of the market or any of the studies involved. I call the market within the framework of support and resistance without Gann or Fibonnacci theory.
ALL SIGNALS ARE FOR PAPERTRADING ONLY! FUTURES TRADING HAS RISK.CONTACT A FUTURES BROKER TO LEARN MORE ABOUT THE RISKS!

Got a question or ready to sign up? Email me at:

Brassa@aol.com

My Opinions on the market at hand.

I have none! I do not foster an opinion on the market, Its sabotage to my technique. I DON`T make predictions,It`s totally unnecessary and needless to worry about, I ride the direction and the price tells me all i need to know.
The chat was also formed out of frustration in having few to communicate with on trading forums. It is difficult for daytraders to relate on the same level as position traders or investors. There is so much concern with fundamentals for position traders and its of no concern to a daytrader, So this chat was also created not only to see some great daytrading signals and learn, But a place for daytraders to relate with like minded individuals as well.

Daytrading is NOT investing.

If your looking to profit from intraday movement of overall market direction, You will not serve yourself well to analyze value. It has nothing to do with what you need to know in a daytrading format.Your trading momentum...Thats all!...Your not investing in momentum, Your trading it!
Opinions are everywhere in the investment world as well,You will serve yourself best to avoid them as well as your own in daytrading. Your opinion will hold no argument to momentum. Make momentum practices second nature to your technique, Not investment practices.

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