Using symmetry, those swings can be projected off the recent high. That’s where we can look for our possible support levels. That gave us two areas of possible support for the ES as it sold off the highs from the start of the week.
John Carter’s father was a Morgan Stanley stock broker. One day during high school, John came home from the mall where he was working at a store making cookies. He had saved up $1,000 over the course of a few months and his dad told him that he and some of his friends were going to buy “some call options on Intel” the next day. With his father’s direction, he bought 10 call options at $0.75, and sold them a few days later for $1.50, doubling his money. He was hooked and has been trading ever since—going on 25+ years now.
Carter studied at the University of Cambridge, England, and then graduated from the University of Texas in Austin with degrees in History and Economics.
Through college and beyond he focused mostly on testing various online trading strategies and became quite adept at making money. Yet the road was not always easy and he learned his lessons the hard way like many day traders often do.
Carter eventually found a trading system he was satisfied with. In 1998 he left “Corporate America” behind to pursue full-time professional trading. After a few years of trading on his own, he eventually grew tired of day trading by himself in his office and chatting with his Arrowana (a large fish). He started to seek out other traders and post information online which led to the launch of Simpler Trading, Simpler Options, and Simpler Stocks.
He is also a Commodity Trading Advisor with Razor Trading. His book, “Mastering the Trade” was released in January, 2006 and has since climbed the charts on Amazon.com Carter has also been featured on CNBC, CME Group, Bloomberg, Fox Business and Tasty Trade.
Trade Experience: 25+ Years Retail Trade
Specialties: Equities, Options, Futures, Currencies, Risk Management, Financial Modeling, Technical Analysis, Volatility and Derivative Pricing, and Market Making
Carolyn's book, Fibonacci Trading: How to Master the Time and Price Advantage, was published in 2008. She currently produces a video newsletter for her subscribers on stocks and ETF's, featured on www.fibonacciqueen.com, and participates daily in a live trading chat room in a joint venture with the other content providers at Simpler Trading. Ms. Boroden's work is also featured on TheStreet.com on the RealMoneyPro.com.<br /> <br /> See more of the <a href="http://www.fibonacciqueen.com/" target="_blank">Fibonacci Queen’s analysis, market commentary and trade set-ups.</a>