Hey Ben, sure. Fundamentally you can use any methodology you think works for different kinds of markets.. I like to use Elliott Wave theory as a framework along with other methods whether it is trendline based support/ resistance or moving averages based along with various volume, sentiment and momentum based analyses (including divergences). If you do get interested in Eliott Wave one thing I would say is it is best used as a risk management tool than a predictive tool (many people use it for prediction overlooking its more inherent strengths for risk management). Some trading channels I follow who use Eliott Wave as a framework methodology in conjunction with other methodologies –

Trading Analysis – https://www.youtube.com/@TradingAnalysis/videos

Trading Lounge – https://www.youtube.com/@Elliott_Wave/videos

Please note if you look up Eliott Wave, you may come across a website Elliott Wave International.. they will talk like they own the trademark and all the IP of Eliott Wave lol… I would advice you to avoid them. Those analysts dont trade, they make money from subscriptions. They have been predicting the long bear market for over 5 years and stay short for the best parts of any new bull market (sound familiar? ;). Instead if you want to know what their analysis is, you can follow Joe Hentges.. somehow all his analysis is exactly what their analysis is.. and you can follow him for free..

https://www.youtube.com/@TheJoeHentgesBeyondtheChart/videos

I wish I could share more but its a huge topic to type on LOL. For a very basic intro to Eliott Wave you can watch me here (am part of the show,, name is Gavin)..

https://www.youtube.com/watch?v=TlLg8BXIJGk&t=519s

But I would suggest we always keep a trading journal so we can measure how our trading strategies work in different markets .. that way we have good data to back us up.. and will help us trust our own decisions better instead of second guessing ourselves/ hoping for particular moves in the market etc.. A wise trader once said,” Show me a trader who takes good trading notes and I will show you a good trader”. And always I try to understand my motivations for thinking why I am taking a trade.. its v important.. as you so rightly said, the most important thing is a constructive, growth based trading psychology – things like not being afraid of losses (losses when taken quickly actually help us make profits faster), taking the trades of least resistance (if we are fighting the market a lot we are really f***ing up) .. and if we lose (as I have lost a LOT) its alright, there’s much more to life than this. We tried and tried our best, thats what counts.

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Thanks for taking the time to reply. I definitely agree with everything you’ve said there. I’ve also learnt the hard way that your trading account should be separate from a long term portfolio… Well, I guess when taking Randy’s trades that seems to be the case.

If you’ve got the time it would be great to know any books/websites/resources you’ve found helpful over your time trading :)

Personally, I’ve found focusing my trades on support and resistance levels to be the most profitable way to trade. I’m far less concerned with patterns or indicators now a days. I feel like trader psychology has more impact than any indicator or pattern you spot on a chart.

Please note my motivations for these requests – From my posts you will see I was pretty much long the QQQs all the way to 13800. I went short couple of times and was out of those positions as quickly as i went it. These are all in my past posts. So personally I wasnt too impacted by these trade ideas. But I have known such spectacular failure in my trading journey in the past that some cannot imagine. When another member posted something about how shorting the QQQs/ SOXX has hurt him and his family I recognized that feeling instantly and really empathized with him. I have been there and may be there again (hopefully not). And I know that it is bad habits that really cost us in trading as it cost me. And quite honestly I see a lot of bad habits being propogated on this channel. I had to say something not with the intent of attacking or minimizing anyone, but with the intent to make this a safer and better learning ground for everyone incl Randy. Hence I did.

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Thanks a ton Scott for all the input and valuable insight you have shared. I may not say this everytime but please know that we appreciate it everytime you share.

Ahh I see. Yes this would be very useful to know what percentage of his portfolio is long/short.
Futures should be easy to get access to though? I’m from the UK so I’m not sure about the legalities of setting up accounts over there but it was really easy to do over here…

IMO not his actual size but % of account on a trade. If your trading account is 1% of account and most of account is in long term long don’t you think you would be more pre-disposed to short?

Also, fact is I bet 90+% of members are trading QQQ not futures. If he thinks closing positions at 2am is valid then he’s not understanding where his members are and is screwing them on this QQQ short.

I’m leaning towards agreeing with others, he’s not trading or trading in such small amounts doesn’t matter if he’s wrong.

I don’t really have an opinion about any of the above. I am curious why you would want to know what Randy’s position size is though…?

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