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Day Trade to Win's Atlas Line (

  #27 (permalink)

Trading Experience: Advanced
Platform: Linn Software Investor R/T
Broker/Data: Vankar
Favorite Futures: Pipe Organ
Posts: 35 since Sep 2009
Thanks: 20 given, 49 received

$1800 indicators, VWAP & Hedge Funds

!. If you want to pay that much for an indicator you would be better off using that dough to feed the poor. The good you will have done will perhaps give you some good karma. I don't give a flying fig what said indicator does, it's worthless.

2. VWAP is simply another tool, not a ticket to wealth. Anyone can get it.

3. Market Profile has advanced from its initial phase and there are many purveyors who are relatively new to the concept. It involves some study. The result of understanding Market Profile helps the trader predict price action. The best of the best of those who use it can tell you what trades they look for and the likelihood of success.

4. I do know/knew a few who manage large sums of money. One, now deceased, was a VP at a very well known investment bank on Wall St. and wouldn't have known a charting indicator from Adam. They manage risk and employ people with doctorates in statistics, economics, finance, etc.. Most of the traders on the floor buy and sell when and what they are told.

In general developing a strategy, applying risk vs. reward numbers, and then trading and recording it's development will be much sounder. You can move on from there. Don't forget the costs of trading. You will need to make 1 or 2 ticks just to pay the freight. Utilize a strategy that pushes your R:R as high as possible.

Good Luck.

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