ALSI FUTURES - WAVE 4

[Rams]

10 MIN OR 15 MIN CHART. Follow wave pattern fron open yesterday, now in wave 4, confirmation will be trade above 28257, then one more leg up to complete a perfect 5 wave pattern. 10 min,30 min and 60 min stoch all overbought, so confirms possible wave 5 imminent. I will be looking for divergence in wave 5 and a flat pattern correction(sideways) of wave 4.

[#2]

Rams why are u expecting a 5 wave structure?It can be a 3 wave correction which means wave 4 is complete.

[john_1]

why are you taking waves when you not in the ocean... there is not even a shred of emprical evidence that the elliot wave theroy works except in hind sight.

[#4]

Dude, you have been on this forum long enough not to open up that ol' can o' worms (lol). Since we are at it, lets kick off another investor vs trader debate. Haven't had a decent on of those in some time either!

[john_1]

OK I will go first...the best way to make money from the market is through the passive income derived from dividends.. of this there is no doubt.. what is in doubt is how you make enough cash to acumulate that amout of capital and afford to live off just the dividends...

[#6]

yeah john...but only BIG-money dudes can live off that.Most of us are retail scavengers.Am I wrong ?

[prancing_horse]

VI, what do you regard Big money? Something I think all traders aim for, but very, very few achieve.

[#8]

Ther best way to make money on the market is to 1] Trade actively and try to do the R 1mil thing every year like chartist or 2] to treat investing as a passive income stream, by buying a long term portfolio and still have time daily for your real day job. The disadvantage of [1] is that only certain personality types can survive doing this - I've heard from portfolio traders at large trading companies who say that trading is killing them mentally and physically (health problems) - they need to get out. Disadvantage of [2] is you need pre-exisiting money and lots of it. Also doesn't help to do [2] with the float in the mortgage bond as in the end its still borrowed bank money.

[#9]

My gutfeel this is not a wave 4 but we preparing for a tsunami up

[manicks]

According to Fib principles, wave 4 cannot overlap wave 1 so does this still constitute a fib sequence ???

[sponono]

i think what we are seeing is volatility at a high level. yesterday the DOW was up more than 1% after gaining only 10 points on the day. Scary stuff!

[Rams]

Yes,there was overlap,but its called Elliot Wave inviolate rules: trade what you see

[Fredsed]

I see Ben Benanke with green tights on, but they are inside out.

[#14]

Hi Vitorc: You make excellent points.This is my way.Just a regular,that is, I have to plan every trade very carefully.I'm not a millionnaire.First rule,I protect my Capital.Thus, my BIG play is in GLDcfds.( and yeah...GLD will safely jump to R110 Price objective.)WHEN that happens, I'll have made a SAFE R100k.Next...Spec Trading.This is where I get VERY choosy.I play 1 ALSI contract.ONLY at extremes on the DAILY chart.First trade, was a Short at 29250.I covered at 27170.My next Short-trade is at 28590.I refuse to budge on this.If I don't get I don't get it.If I do...cool.Then I ride it down to 26050.My point ? Safe trading.Once my R30k for ALSI account is at R100k..THEN and only then....will I daytrade Gaps,Pivots,etc.As the late Anton Rupert stated >>>"Slowly catch the Monkey."## Right now the mkt is trending beautifully.I Swing-trade the extremes.Thus minimizing risk and stress.it's the only way to survive,mentally.Coz Trading is 90 PERCENT MENTAL HEALTH....or madness.Hope that clarifies.Have a nice weekend.

[#15]

O..and by the way.I exercise 4x per week.Right there in my trading room/Gym.5min of Skipping is excellent.Gets the blood-flow going.Weights and freestyle exercise complement.I'm 47 years old.Why ? Coz I need mental acuity.Every workout is logged.Just like every trade is analyzed.And there you go.Physical and Mental health.Discipline,disciplinePS: I do like my Carling Black Labels,though.(heh).