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JBWTrader

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Everything posted by JBWTrader

  1. JBWTrader
    Hey Robert thats not a bad idea ie to seperate The" Thanks" button from the "thanks for the laugh" button Good thinking... best john
  2. JBWTrader
    Hey Tro Just wanted to say I found your posts on why 95% of traders fail (I, II and III) very interesting. Especially the reference to some of the articles that you referred to. It would be great if you could post some of them over here. Well done and thanks. All the Best John
  3. JBWTrader
    Welcome aboard PT There is a lot of Wyckoff material and posts on here. This is a great website so enjoy it. You may want to have a closer look at DB's material etc and Thalestrader's application of Wyckoff if you are right into that. You sound like you have a pretty level head to have made your way through all the indicator phase and not risking much $$ while honing your edge.... Good luck All the Best John
  4. JBWTrader
    Hi Dinero A very good point you have raised. The first thing I would say to it is that if you do have a setup that say works one or two times in a day then only trade this. However the interesting thing about setups is that they have a probability of failure because we dont see the other factors at play that can affect it. I would also say that you can probably see this setup on other lower and higher time frames/tick charts etc Most traders stick to one or two sceens but I bet you could find "your" set up again elsewhere on multiple frames...albeit occuring only one or two times in a trading day...just a thought... For eg I can show you a (this is obvious by the way but I think its important to still state) setup on one particular tick chart and another chart 50 ticks more this setup would not be apparent....interesting huh ? One one frame it wins and on the other 50 ticks apart it loses... This is why trading is tough, Best John
  5. JBWTrader
    Yeah I totally Agree Sim is definitely a must.....its short term/medium insurance against losing ones hard earned money off the bat..........Many people say Ah but losing real money teaches you many things Sim cant....while that is true , the bottom line is People (and I put myself at the top of this list) are really , really stupid when it comes to the first few years of their trading.....until they start to find their way...if certain people want to delude themselves into thinking that they can trade making fake money with Sim after 6-12 months then these types should dip their toe into real money as these types are suffering a phantasy life that is totally unreal. One of the major pitfalls with Sim is that it can also build a rich phantasy life in the wrong hands....discipline goes out the window too easily in this situation. Quiet often a combination of using both and how one decides when to use both is best I have personally found. One needs a strong reflection on ones trading data (real or in sim) to hone in on the shortage of skills that are causing the mistakes that constantly get made...SIm can help prove/disprove that one has fixed a weakness cheaply and hence aquired a "better" skill. Both trading situations can be very dangerous but each type of trading can teach the other type and more importantly the actual person about trading. The trick is to know how to filter through the crap and go with what one knows is real in terms of finding and developing an edge and then exploiting that edge. What way are you going to do that ...? There are these days more and more ways to do this.... Sim is just another way to protect ones capital while learning and hopefully if the person is serious about it he/she can use it to find the edge they need to succeed. Just a side not on this issue re sim trading....A different form of it occurs with 80% of the volume of most markets, possibly more these days....ie backward and forward testing of a strategy...especially the forward part....so Sim is criitcal for many blackbox systems to find their edge in the first place...without this they wouldnt be trading...discretionary traders are just using a crude, inconsistent form of it when trading sim manually and most of them likely without a true edge 99% of the time... Just my 2 cents worth... Best John
  6. JBWTrader
    Hi Frank Do you mind me asking which DVD you bought for Visual basic...? Cheers mate All the Best John
  7. JBWTrader
    I hope they did make money off it as the housing rate of change upwards was just really stupid... just another note; GS were also financial backers to a lot of builders that went bust and are now holding those properties.....so they are in the red there..... Best John
  8. JBWTrader
    Just to add my own experience in here.... If you do Sim enough and real trades enough they both end up feeling the same over a number of years !! funny that... Sim is good to test the strategy.....this also includes backward and forward testing which is simulation (especially forward) Sim is also good if one is discretionary but like any form of practice ones attitude to it matters...It doesnt quiet equal the real thing but like any form of training/drilling it trains the mind and body what to see/expect and how one can and should react.... To give an eg suppose you have been on Sim for 6 months and feel comfortable with your strategy and you exit quickly when it goes against you....then you go live and the first trade you freeze when it goes against you....did you really treat sim the same way as real money ? I would say no.. can you ? well its difficult to say and depends on the indiv.. You could take the approach that one has to re-look at how one approached the sim trading and ask the question how do I factor this reality into it more.....Reality gets much sharper when live and this is a factor that is often not built into Sim trading as much but should be from my persective. One just hopes one has/had developed other skills along the way in the Sim training to help get one thru this difficult readjustment phase. Writing out specific skill sets when drilling is something not many people do when in sim.....so some people will see sim trading as a waste of time but to others it is not. There is no right or wrong answer to this....but as Brownsfan suggests its up to the indiv to ultimately decide what works and what doesnt. Best John
  9. JBWTrader
    Hi Johnjohn1hew Some good comments you made. Lets just say there are large players and very large players and many . many small to medium players... I agree also we dont need to know Who they are but rather what they seem to respond to ... the price movement/structure I am trying to describe is anything from 1-4 ticks to 200 ticks....not neccessary the big moves only.. I have personally been watching tape for nearly 5 years now and these days its much more difficult to spot the reasons for subtle changes in price...too many games and too many ways to conceal...rather I find it easier to look at the structure of price ie anything from 60 ticks (and you can go smaller of course) to 60,000 ticks + As for your comment "price (+volume) will show strength or weakness on its own, no matter who is or isn't driving it. [/b]All we need to do is measure the movements and act on our judgements" I also agree with this...this is always the outcome of the decisions made by those that can easily influence buying and selling pressure....for us retailers we hope to get in on the action once these collective patterns become more obvious to us and hopefully not too late... What I have learned is that the market is very precise on where it wants to go and is using predetermined price goals/positions (for want of a better term) and it uses volume to get there with price being the final outcome...the volume I am referring to here does not have to be large volume...just enough pressure to move price anything from 1-100 ticks say... we all struggle with determining the price(t) goals....so the rest of us look to volume and price (not always both ) for our belief system / trading system confirmations and act accordingly and hopefully get a stastistical advantage over the market in that way(s).. Best John All the Best John
  10. JBWTrader
    My belief is this....the market is controlled by a couple of big players...they know exactly where price is going and are very precise on where they want to take it...to the tick... they have various options to change direction in order to change the order of pattern completion....but ultimately they will use volume to get them where they need to go....99.999% of the rest of the players are trying to figure out our odds of success relative to these 1 or more big players... Best John
  11. JBWTrader
    Hey D On utilising the space Question you pose, what has been you work history background before coming across this space..? Is this office space within the CBD ? Ever thought of leasing sections of it on EBay for office rental..? How are you trying to sell this space now ? ie via Agents or brokers , by yourself ? What are you currently offering as your best deal etc ? What rate of return are you wanting from it ? I think the trading idea is somewhat limited and requires good management together with the right opportunity,...I think you are better off finding other avenues for leasing it other than to form a trading meeting place...the rent market is a function of market timing for real estate, The type of agent used, the sophistication of the potential consumers, the type of business this space suits etc Its all about Return on Assets....even losses can be beneficial to the asset holder... Would you borrow to set up the new trading business ? Did you borrow to get the space in the first place ? When are you forecasting this renting slump to end ? All of these variables and more are important...and need to be weighed up... good luck ! All the Best John
  12. JBWTrader
    Good Luck LuDuan ! As Brownsfan is saying build the proper expectation first....ie a lot of hard work ahead, a lot of failure ahead and dont identify with your trades....oh and try and keep the phantasies out as well... Read this site from back to front....it will help a lot... All the Best John
  13. JBWTrader
    Hi Gemma, What is the method they trade ? if you can describe this as best you can ? eg entry why ? Exit why ? etc... this is important you describe as best you can what they actually are doing... Now one final note; You sound like a beginner.....I would not join any group until you have a very good read on all the major boards , especially Traderslab...you have a much greater chance of learning off the guys here like Soultrader,Db, Brownsfan,Thalestrader, JohnBig04,Tams,Kiwi , Bathrobe etc than any paid website...trust me on that.. Good luck Best John
  14. JBWTrader
    Bang on JonBig04 !! Well done on the pre analysis and execution of the real deal...!! All the Best John
  15. JBWTrader
    Hey Pat Makes a lot of sense mate...I guess it requires a lot less dollars to get into position for the next day....take for eg last night going down and today (so far) is an upmarket...a bigger ride in total for those making the market..... Thanks again ! Best John
  16. JBWTrader
    Some very good trading advice there edabreu. You are very defined and precise in goals,target sand signals... Thanks for showing the courage to post something unique ! All the Best John
  17. JBWTrader
    This last paragraph is one of the most compelling I have read anywhere ! Thanks for that Zdo All the Best John
  18. JBWTrader
    Yeah with Sim...you have to try and mentally treat it as the real thing...like when one practices and sport it is best to simulate in ones mind the goal of the sport... So discipline and attitude are key here... You have to go into Sim trading with a setup in mind , if you dont then you are just swinging in the breeze and will quickly "play" with it and then lose interest and then you will get restless and go live and then Bam !! you will lose... Good luck.. Best John
  19. JBWTrader
    UrmaBlume and Tams....no matter what canal your in.. I can still see the Columbian girls waving you both a warm welcome and farewell...!! Especially in Panama right Urma ? Hey Tams where was that Canal if you dont mind me asking ? Best John
  20. JBWTrader
    Hey Tams I could show you how to crash it mate !! lol... Best john
  21. JBWTrader
    Hi Joan Peter In my opinion yes it is very risky (refer to Tams post) If you put real money up now. You will defintely lose it all. I can guarentee this... now advice from people can be very dangerous as ones belief system organises itself in such a way that can be very limiting for the time being. Seriously use Sim trading to start in order to prove you edge. Read Journals like JonBig04 and learn what he has had to do to get where he is today...thats a great journal to see an eg of a struggle that has a lot of discipline to it....seriously read it all and dont speed read it.. There is a lot of great advice on here but dont trade it real until you have proven it to yourself. eg Db, Thalestrader, Brownsfan, Blowfish,Atto, etc a lot of great ideas on their take how the markets work. Focus on Price only. I am deadly serious if you trade real lmoney off the bat for the first couple of years you will lose....no matter my advice you like everyone will dip the toe in the water and get smacked..but that is part of the learning too... hang on your in for a bumpy ride... good luck All the Best John
  22. JBWTrader
    Sorry to hear of your loss 1pipatatime. take care Best john
  23. JBWTrader
    Lol...Mate Our trading styles compliement each other...I got the long but missed the short that you got !! lol... keep up the good work Jon, I like your style mate Best John
  24. JBWTrader
    Nice Work Jon !! Best John
  25. JBWTrader
    I found this post on "Re: The Evolution of Market Profile Theory" interesting and have nominated it accordingly for "Topic Of The Month August, 2009"
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