If your system of trading is as good as you say it is, then why are you selling it and not trading it?

QUESTION: If your system of trading is as good as you say it is, then why are you selling it and not trading it?

ANSWER: My work is 98% discretionary. I'm not a "system" trader, I don't follow a mechanical system. I watch and analyze the market every day. The market is always changing, and I have learned through experience that a computerized system cannot acclimate to changes as quickly as my brain does. I liken myself to the old ticker tape readers, hence my handle, "Tapereeder". Oh, and by the way, I *do* trade, nearly every single day.

Can I apply this knowledge to trading equities?

QUESTION: Do you have any published material that teaches what you do or any e-courses. Can I apply this knowledge to trading equities?

ANSWER: I'm close to finishing an e-book on day trading stock index futures, using Support and Resistance areas along with several of my favorite patterns / set-ups. If you want to be notified when it's finished, let me know or go to http://www.tradestalker.com/ebook.htm and put in name and email address. I will be having another 5 day "Trading Camp" in February I believe. Again, this is mostly geared towards trading support and resistance areas intraday - primarily the e-mini SP.

As for trading stocks this way, the same stuff applies. As long as the trading vehicle is liquid, the support and resistance areas are the back bone and starting point in my trading. Best,Mike

Does Your Service Entitle the Subscriber to the Indicators as Well?

QUESTION: Mike, I'm a subscriber to your delayed subscription service; I've also read you basic guide to s/r trading and found this to be a very interesting approach to trading. I'm contacting you about your trading method. I'm aware of the trading camp and the recorded seminar; however I'm looking to find out if your strategy is available other than thru the trading camp. Also does the subscription service entitle the subscriber to the indicators as well? Thanks for your time.

ANSWER: My strategy basically is looking to short at resistance areas, and look to get long at support areas. And on occasions where I have reason for a strong bias, we stay pretty much exclusively on that side of the trade. My intraday charts have no indicators on them, other than several moving averages and a chart of the Tick. The other indicators I use are end of day, mostly home-made in spreadsheet spanning back to the 80's. I give this and explain the use in the Camp, but they are proprietary and for attendees only. An e-book along with more audio / video is upcoming, hopefully before month's end, depending upon my health. If you feel ready to give the TradeStalker's RBI service a shot, remember I give a guarantee. A day like today might have taken care of a month as the market bottomed early at my first support at topped up around the second resistance, dead hits on both sides of the NQ. - Mike

Will your nightly trader's updates help me since I am not a day trader

QUESTION: I found your site http://www.TradeStalker.com through yahoo group. I went to your site and read on your support and resistance, good reading. I am fimiliar with that concept and also Pivots, and have traded them on ES, with my way and have not been successfull. Mainly because I did not know what to do when the market does not reach the support and resistance, either direction, and if it fails to reach the support and resistance, then what do you do, do you wait, for the market to come to the support and resistance area calculated, or do you buy/sell which ever the case, at the reversal and not wait for it to come to support and resistance. Will your nightly trader's updates help me since I am not a day trader, have a job 8-5. How can I take advantage of it, what kind of trade setups are possible?

ANSWER: I have surgery tomorrow, resting today so this will be quick. The service is mainly geared towards day trading. But, trading support and resistance can be done swing trading. I answer your other questions in the teleseminar package found at this link: http://www.tradestalker.com/seminar-package.htm it is 80 some questions answered with chart examples. Mike

Regarding Chart Feeds

QUESTION: Mike, I'm moving my account to Interactive Brokers, I recall that you spoke highly of them @ the Support & Resistance Course teleseminar. You mentioned then (I know it was a long time ago) that they may have special pricing for RBI subscribers, so that's my first question. Second question is regarding charts--do you use the IB interface or do you use another chart feed?

ANSWER: I still use IB, problems have been very few. The special pricing was for Ninja trader order entry platform, BUT beginning this they had to change the way the price ladder acts and to use the old one. A firm claimed copyright, so to avoid court they struck a deal where there's an attached cost of 20 cents RT to use the old version. Seems small, but adds up for active trader trading any kind of size. For charts, I have Esignal data feeding Esignal charting 1 pc, and I use Ensign charting, free feed because they connect to IB. The latter is about as cost effective as it gets I think, Ensign is 39.95/ month.

Why do you require a third-party charting service?

QUESTION: Hello Mike, Thanks for responding so quickly. I've just another couple of questions--do you use the web based IB platform or have you downloaded the app on your desktop? Also, why do you require a third-party charting service rather than using the IB charts embedded in their application? Your answers will likely determine for me whether to plow ahead with IB or continue with Cybertrader, although I am strongly leaning toward IB. BTW, I primarily trade NDQ and SPX minis, coupled with options on the QQQQ and SPY.

ANSWER: I have not downloaded IB platform. It should be decent, but these tend to be a matter of personal comfort. As for their charting, I never gave it a fair shot but wasn't crazy about it. My old ''mentor'' uses Ensign, so I gave it a shot and like it. As an old TradeStation user I guess I became kind of picky. FYI, we trade the same instruments, this might the first in quite awhile. Mike

Do You Follow the E-Mini Russell?

QUESTION: Mike.......Do you follow the emini Russell? I primarily trade the emini S&P but I really like how this market reacts to prior support and resistance levels.

ANSWER: I do a little with the Russell, but not the main trading vehicle. We had a vote for me to do the Russell or Dow numbers, and mini Dow won.