US Indices Intra-day Trading for August 2003

Sun; the path may not have been so good recently, but a lot of us still appreciate your analysis. We can't expect 100% perfection, though of course we'd like it!
 
hungrybear, i would like to see the Dow drop its pants tomorrow to 9197 or 9154, before a big move higher....

I am aiming for perfection.....
 
Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative (and creation), there is one elementary truth, the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, the Providence moves too. All sorts of things occur to help one that would never otherwise have occurred. A whole steam of events issues from the decision, raising in one’s favor all manner of unforeseen incidents and meetings and material assistance, which no man could have dreamed would come his way." - Goethe

The most important step one needs to take to become a successful trader is to make a firm commitment to trading.

Further, commitment needs to travel the 18-inches from the head to the heart to make it real and enduring. Webster's defines the verb "commit," as pledging oneself to a certain action. Those who pledge to commit a chunk of time and resources to their trading career, then commit to developing a plan and the discipline to follow it, have a much better chance of succeeding in this business than those who take a "potshot" and hope for the best.

Why can't you just "dabble" in this arena? Why can't you just saunter into the trading day at will, scan a few charts, and throw a trade in if you feel like it? Because, when you trade half-heartedly, you are telling yourself, your account, and the world, that whatever the outcome--it doesn't matter.

Further, in many occupations or undertakings, a slapdash attitude will mean simply that you don't excel. In most situations, you can shrug that off. In your trading career, though, this mindset almost assuredly will devastate your account and take your self-esteem with it.

If you decide that trading is your part- or fulltime occupation, commit with passion to becoming the best trader possible. Then, as Goethe says, situations will present themselves to you, "which no man could have dreamed would come his way."
 
Sunseeker well said

The difference between involvement and commitment ?

Think of ham and eggs.
The hen was involved but the pig was committed.

Go on guys. make a pig of yourself and commit.
 
okay here is my first attempt :cheesy: with the path and chart overlay. Now I understand why Bigbusiness, wants to give it a rest :eek: :eek: .... it isn't as simple as it first looks, but after playing and experimenting a bit this is what I've come up with..... It overlays as close as possible to the actual timing except for the first bit. SUNSEEKER you seem to have a larger space for the first half hour, that's why it doesn't fit well there :rolleyes: .... did you find the same thing bigbusiness :?:
 

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Achilles, I will amend this morning...thx for trying and embarasing me :) , you did a fantastic job....

I see Index King is back....welcome IK, hope you got some entertaining and profitable spreads for us
 
OK, the path for today indicates that we will see strength in the indices in the early part of the day, but it looks like a weak close. I have focused on the turning points rather than direction or extent of direction. I hope this does not confuse you.
 
Thanks Achilles. I am pleased someone else knows how to do the overlay. It does take a bit of time and I was starting to get sore eyes from staring at the screen. You are right about the first half hour. It is possible to adjust it by selecting the area and using edit and transform but it isn't essential.

Are you using photoshop?
 
Strange goings on today. Bonds getting hammered,Germany in recession,Dax up! Alot of funny signals out there at mo.
 
How long for tho'? If reality sets in I hope these guys pushing it up are wearing parachutes
 
2468steve said:
How long for tho'? If reality sets in I hope these guys pushing it up are wearing parachutes

Steve & Oatman,

You guys remind me of the analysts who said the markets were overvalued in 95 and 96 and 97 and 98 and 99 and of course in 2000.
 
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