Between the two, you'll see non-stop real-time trade calling as well as reasons behind it from some consistently profitable traders.
Put a little effort into it. Your question is basically "how do I trade" and it's ridiculous.
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Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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Thank you for the link Mike, but I disagree. If my question was "how do I trade" that is what I would have written. I have been in a few different trading rooms and none of them agree on picking direction. Some say wait for a gap between the prior day close and the current day open and fade the gap. Others say go in the direction of the gap. Someone else says assume the price will go back towards the VPOC of the prior day. The guy next to him says the same, but uses VWAP of the overnight session.
In other trading rooms, the guy that runs it constantly tries to call the turn. He will lose 20 ES points trying to call a top and the market just grinds higher. He is right sometimes also, but his approach is always the same note. Another trading room wants to wait for pullbacks to enter and exit. Sometimes your pullback is really the beginning of the move in the other direction and you get hit with a quick stop. And when it works out and you are waiting for a pullback level to be breached for your exit, quite a bit of the profit is given back.
With my actual question, I was hoping to create a discussion around these and other approaches traders use to determine which direction to take.
With regards to tturner86's observation, I will assume you are asking me to clarify rather than something slightly less positive. My trading experience is in options trading butterflies and iron condors, trades in which the actual direction is not as important as the magnitude of a move and when it occurs.