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I'm home during the day on occasion and would like to DT, especially after going through Teresa's transcripts. I'm opening an account with Interactive Brokers and will attempt trading futures. Here's a sample of the trades I believe could have been made today on the 5m Naz.

Most, if not all, I believe would have been Teresa trades. I'm getting confused as to who developed what methodology. I've come full circle with Teresa in that much of what she teaches is covered by SMI. Since SMI is my favorite material, I'm ecstatic that I can incorporate the "new" stuff with little adjustment.

http://photos.yahoo.com/bc/nichola4/vwp?.dir=/Nic%27s&.dnm=Naz+9-17.gif&.src=ph&.view=t&.hires=t

I've pointed out a 2B and other short entries (the next to last bar should have a blue arrow too). And yes, I know it is more difficult realtime, but if you can't see them in hindsight how can you do it for real?

nic

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I've pointed out a 2B and other short entries (the next to last bar should have a blue arrow too). And yes, I know it is more difficult realtime, but if you can't see them in hindsight how can you do it for real?

nic


Except for the 2b--how did you decide on the entries? It seems to be your entry would at best be the bar following the arrow (unless that is what you meant). In that case I can see what you are doing. Otherwise if you are entering on the arrow it looks like guessing.

Oh and what is SMI?

Eric
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Eric,

<<your entry would at best be the bar following the arrow (unless that is what you meant>>

Yes, the low of the arrowed bar (the following bar).

<<what is SMI>>

http://www.stockmarket.qpg.com/

SMI/Wyckoff is a home study course taught since the '30s. It's composed of 5 units, each can be purchased separately. You can take quizzes, send them in, get assistance via snail mail. I didn't utilize any of that, I just read the material and listened to the tapes. It isn't modern in that the web isn't utilized and the charts are from the distant past (but so what).

Unit 1 ($120) is text-based and introductory, and unit 2 (same price?) is more advanced text. I think U3 is audio tapes covering the same material for those who prefer that route (charts are included). I don't recall 4 & 5 but I didn't find them worth it. 5 might be a big exam.

They teach about tops, bottoms, p/v, trendlines, a litte fibo, accumulation/distribution. They concentrate on tops, bottoms, bases, trends. The suggested long entries are springs/shakeouts (2B's), pullbacks to base tops, and pullbacks during rallies. The opposite for shorts. Basically, "tests and retracements". They also stress the importance of volume in rallies and reactions. Figure charts are covered but I skipped that too.

Most of this isn't anything new to us, but it is a fantastic one-stop source for the neophyte/intermediate and would be the source I would own if I had to choose one. Very practical, well-organized, and the simplest, yet powerful approach I have encountered.

nic



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