SPDR S&P 500 (SPY)

[leftyg]

Thanks for the responses...all answers are cogent, and applicable.

I'm sure it must be a skill to make money going opposite the trend..I wouldn't be able to do it. For me, it would be a hard way to make a buck..or easy way to lose ten.

OTOH, the comment about knowing the trend, and the trend time is right on..

Without doing any study, and using a seat of the pants guess..I would guess that the ones most successful are those who can read the leaves most correctly, and see a short term reversal worthy of a scalp. How you do that is more advanced than I am....I mentioned to Gleno once that I can see some reasonable level of probability of direction the next day..or perhaps a few days out..and of course, the short term (2-5 day trend) but I have no idea what the next 15 minutes will bring.........and I gather that is the time frame most are trading.

Good luck to all, and maybe I can learn something.