FTSE 100 Daytraders' Thread 2005

Tp, I don't know if trading is forcasting.I used to trade like that but not anymore. Sure, the guys who trade for the institutions and those that trade the individual shares etc are speculating but I think we are playing a different game. Ours is not forcast but to follow.

The problem I have with EW is that it trys to be too accurate sometimes (plus it has an answer for every occasion:-)). At the moment I am looking at the move off the 5488ish low on the 15th. That's all that matters to me. Sure if we are making 3s it will turn down before a 5 wave affair would but I would still be looking for lower highs and failures at the same levels. So in trading terms it makes no difference.