well its been since 09 when I started this thread.. time flies...3 years.
So as I have said many times... if you read a book by Tiger Woods or Jack about how to play golf do you think you could then get rich playing? I would say yes but it takes unyielding dedication and hard work... many years of practice, pressure tested and tournaments won. Then maybe.
Same as anything folks.. hard work pays that's just the way things are... it takes time and experience, and some help where you can find it.
I am now convinced the best way to play the market is with futures... most reward for the smallest risk.
to trade 10 emine Russ 2k you need 68k in your account. if you win a 10 point move you get $10k. trade cost $68 one way
Point and figure charts are price only... think supply and demand. it shows you pretty quickly where the major price support and resistance levels are.
The Ford chart you can see by looking left you have price support in the 9.00 to 9.50 area resistance in the 12.00 box.
X means its going up O mean going down.. you need to have 3 boxes filled to change the symbol/direction.. the number and letters are the months.
The price objective is just a mathematical formula... would NOT base my trades around it.
Its probably the easiest way to enter and control risk... for example the Ford chart low risk place to buy is 8.51.
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