I wasn't judging or having a go at futures traders by the way....

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West Coast

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12/11/18

01:42

Post #: 36464958
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Originally posted by Owenb79: ↑

Appreciated some of the mushing from RB but 10 odd charts of every X index for AUS is a bit too much for me where there are 4 banks and 2 miners 1 or 2 health that can move it your focus needs to pretty narrow and clear. As a professional trader its not about picking big moves because markets move big once or twice a year. Most the time they are consolidating/grinding thats why you can see trained scalpers with any product making money till they dont and get axed buy a big move. Analysis of what markets are doing is pretty easy above the 200 ema they are bullish below they are bearish. A 10% pull back is a correction and 20% is a recession. That is pretty much all you need to know about markets in general. The only other thing you need to know is market function and their tendency to fill gaps. Gaps that are invisible on charts and recorded by the big boys. The statistical average trading ranges and support resistance. I gave up picking big moves and learnt lots about the markets and especially the XJO. You can make a living just doing one trade. Spikes at the open or expiry, break away. Pick one. Just learn when they are risky. I do post some longer tern trade ideas and direction but having a 100-200 point limit on my loss just distracts from the levels I use to scalp. There are much better markets for longer term moves and better products to trade on the ASX like etf's or just buy the banks or miners. Buying the index is expensive.

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I wasn't judging or having a go at futures traders by the way. More so saying how it is or was. Everything has its time and day then we evolve.

I do enjoy reading Red's work. More into market direction conversation but that is just my personal preference. Might jump onboard the quick trade train myself in future when time permits.

In regards to moderators I meant set up a better seperation between futures traders and allow the old school XJO to coexist.

Last edited by West Coast: 12/11/18

XJO Value at posting: 5,921.8
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