My current approach is based on bearish ETFs climbing up the “left lane” between the 20SMA and the upper 20-period BB. The chart period is typically an hour, and the number of securities I own is typically one. I attempt to trade the swings within those boundaries, with a trailing stop that attempts to track just below the 20SMA. I bought ERY when it dipped into the 26’s, and will probably unload it when it spikes the upper BB and looks to be topping out, planning to reload near the 20SMA or wherever the subsequent dip runs out of steam. As stated, most trades are separated by a few days. The fractal structure of charts means that this approach is theoretically equivalent to trading from 15-minute or 1-minute charts, except that it strongly reduces the demands of trading on my time and wallet.

The zero-sum hogwash is ignorant of the significant drainage from commissions. This should be obvious to anyone who knows what a zero-sum game is.

You must be a really good day-trader to account for risk of error, commision/execution costs, lost time, lost opportunity costs, MMs, volatility, being more profitable than a day-job and your risk of ruin. This is why amateurs fail.

This is trully a service to the mayority of people that come to Stocktock.

A response to comment #5:

I agree & disagree with you. Yes, a combination of both is a style used by some of the best retail traders I know (Brian Shannon, Upsidetrader etc..). Nonetheless for the vast mayority of people that read these posts,, daytrading will kill their account.

Here are some statistics:
http://www.nasaa.org/content/Files/Day_Trading_Analysis.pdf

Based on this, Uners message is a true service that most should seriously follow. That being said, Never ever ever break the risk management rule. No matter what your style is. If the market doesn’t agree with you,, take your loss. As this basic informative clip will show:

http://bit.ly/hHndt

As far as post #22,
Check out : http://www.dcradio700.com/AUDIO/EdHandley070909.mp3

This guy was recomended here by S135 and his analysis is very good. He has a bit of a diffrent view for the events around the July 17th.

Thanks for taking the time to contribute here Uner. Always look forward to reading your posts.

http://i30.tinypic.com/15etxsh.png

The financials ($DJUSFN) are even nastier — they peaked back in May, and never even made it up to the 12-mo MA.

http://stockcharts.com/h-sc/ui?s=$DJUSFN&p=W&b=5&g=0&id=t07851194273&r=4857&cmd=sendchart

Remember I said a week ago that it needed more time and a second right shoulder to look more like the left, which took 18 days to develop. Sure enough here we are a week later, have a possibility for a second right shoulder and the timeline is much more in line (still need a few more days) while this slanted H & S has done nothing as far as follow through even though the “breakthrough and backtest” was completed earlier this past week.

Take the July 17th turning point with historical importance as noted by Zee’s post above from citi, the fact that this turning point lands on opex itself and the H & S pattern that no one is paying attention to (the real one imo) and it seems to me we don’t go down until after opex, assuming the pattern doesn’t fail.

If you want a bullish count, here is mortie who has been pretty good with some of these counts. While I don’t know that I agree, it would fall in line with Danerics thought process that P2 isn’t over yet and has one more attempt at a high left.

http://www.bostonwealth.net/2009/07/11/morties-weekend-follies-11jul2009/