Day Trading Predictions
The Downside

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I don’t make day trading predictions primarily
because they are too inflexible to help day traders.

 However, I “called the top” in late 1999, (read that RBI report). But predicting intraday tops and  bottoms is not exactly how I make a living.

 I think of the intraday market in “if - then” terms, based on probabilities that give a good edge.   Here’s the method that’s worked for me for years, and it’s what I teach my subscribers who want to learn day trading.

 Each night I find the next day’s support and resistance levels. Then, from my bigger-picture indicators, I get an overall feel for the direction the market is likely to go the next day, and how far it’s apt to go. This often gives me a bias that keeps me on the right side of the market. With over 27 years of experience day trading support and resistance, I’m able to judge where the market is likely to go IF it breaks through a zone, or turns away from one. I put these findings in the last 2 paragraphs of my RBI Trader’s Updates. My updates have been published on the internet for more than 13 years, they lay out how I’m planning to trade the market the following day.

I’m not giving “day trading predictions,” because I’m not willing to say the market will do one thing and one thing only.

Here’s a chart example of the RBI Trader’s Update I wrote on 8/31/05 for the following trading day.

I wrote…

“The initial resistance is up at the 1225.25-1226.25 area on the SP futures…. If those areas are easily cleared, then the 1229.75-1230.50… zones would be next.”

On the 5 minute SP futures chart above, the horizontal lines are the RBI resistance for that day.

At “A” the market reaches initial resistance (within one tick) and turns down. That’s tradable. Then it turns back up from a one of my key dynamic support/ resistance areas (the purple moving average). That’s also tradable.

At point “B” it pulls back again from initial resistance, but then it slices up easily through it, heading toward the next RBI resistance level, and continuing up most of the way to the next RBI resistance zone, stopping at point C. Those moves were good for a short scalp as well as a quick profit on the upside.

But my update wasn’t day trading predictions… I had anticipated it with accurate support and resistance zones and a very practical “if - then” plan for the next day’s probable events. This example makes it clear how the RBI Trader’s Updates give my subscribers a strong trading edge on their entries.

If I were making day trading predictions like, “The market will reach a high of 1228.50 tomorrow,” then I’d be locked in to a narrow view, and I would want to “be right” more than I would want to read the market.

Successful support and resistance trading demands flexibility to read what the market is most likely to do tomorrow… while staying open to what the market is telling you “right now,” during trading hours.

My RBI Trader’s Updates include all of this, plus my intraday updates where I point out new developments when I see something important developing during the day. The RBI Trader’s Updates also contain my day trading support and resistance levels which are extremely accurate, as well as my “if-then” scenarios for the next trading day.

You can get the best day trading advice available on the web by clicking Here. There couldn’t be a better investment for a day trader. Get my trading plan delivered to your email box every evening.

If you’re tired of losing money on those who claim to make day trading predictions, if you’re not yet consistently making a profit, or if you just want to take your trading to a higher level, try my Nightly Support and Resistance Trader’s Updates.

See how my support and resistance levels and market analysis will help your trading - no matter what method you’re using.

There’s never been a better opportunity to turn the corner and become a consistent trader!

Disclaimer:
The financial markets are risky. Investing is risky. Past performance does not guarantee future performance. The foregoing has been prepared solely for informational purposes and is not a solicitation, or an offer to buy or sell any security. Opinions are based on historical research and data believed reliable, but there is no guarantee that future results will be profitable.

We are not advocating trading futures. The prices and contracts in the TradeStalker's RBI Updates specify a manner in which you could trade. We occasionally mention the SP500 and Nasdaq futures markets because it is extremely liquid and tends to lead the other markets. This is not an endorsement or recommendation of the SP500 and Nasdaq futures markets. The risk of loss in futures is substantial. You can lose more than your original investment. We are not Registered Investment Advisors or Commodity Trading Advisors.

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