MightyMouse

Let the bodies hit the floor.

I struggled in my attempts to read "Reminiscences of a Stock Operator" because, to me, it read like the lyrics of a modern rap song which I too struggle to absorb: " I'm the baddest in the neighborhood and I'm this and I'm that yall"; knowing that the rapper is separated from death or jail by a a short period of time. In short, I don't buy the either ego driven story. I agree with Siuya & Zdo, that Livermore benefited by the dominance of Mr. Pink. Mr. Pink who gave him his notoriety also took him down. Mits, Perhaps, you let Mr. Blue manage the finances and keep him away from the trading decisions and let Mr. Pink make all the trading decisions, hoping he gets on a roll or streak like Archie Karas.

The reason for the move, then, could be mystical or maybe even magical for all you care. As long as it works sometimes it makes no difference if the reason is rational or not.

What is the rational for a relationship between the pennant time and the time of the subsequent move? Is this time relationship common in the plant or animal world? Does the time that a herd of caribou takes waiting to cross a river equal the time the herd takes to cross the river?

I will rephrase my statement and replace not real with irrational. Mr. Pink represents all your irrational thoughts. He sabotages your trade plan. This is not to say that I do not have a version of Mr. Pink, nor to say that I am a level headed trader. I am euphoric when I have a wining trade, and pissed off when I have a loser. There is no point in attempting to suppress those feelings when they occur quite naturally in me.I completely think my next trade will be a loser after I have a losing trade. Why wouldn't I think that? However, my euphoria or anger have little to do with whether or not I will take the next trade.

The end is neigh. 4 more weeks

Mr. Pink represents all things that are not real. Any compromise between Mr. Pink and Mr. Blue is a profit for Mr. Pink. Phuck Mr. Pink.

I have always thought that low ratio people are dirty. If I had it my way I wouldn't want them going to school with my children. They should stay in their own neighborhoods.

Careful, you'll grow nipples like a woman. Bitch nips I think they are called or were called.

I could not agree more.

What I described, I would categorize as questionable ethics and illegal trading activities. Certain markets are too big to manipulate. Other markets are easier to manipulate especially when you consider the type of demand ( elastic or inelastic) that certain commodities have. I drive by oil tanks in Connecticut leased by morgan stanley who accounts for about 50-60% of the heating oil delivered each year ( on both sides). Why is the white gloved firm of MS in the oil business?

Daytraders can still find opportunities. The flow of opportunities is very different these last few years from years past. You really need to be like an Eskimo seal hunter waiting patiently for that feather to move. If you do not, then you will expense yourself out of trading. Scalpers: The theoretical advantage of being able to buy at the bid and sell at the ask certainly gave many floor traders an edge. For many traders that edge was not enough. A lot of Floor traders leveraged the relationships the developed with floor brokers who would fill orders for retail and institutional paper, giving floor traders better fills and position than they deserved. Think of the advantage of knowing (back then) that a fund wanted to liquidate 500 contracts of corn at market. Many scalpers relied more on relationships and less on their market savvy. In modern times I think one needs to be naive to think that goldman sachs or any other firm who engages in brokerage and trades its own account, does not use the information that a customer provides to the customer's disadvantage.

I really do not think you know how an institutional trader trades or what their function is at a trading firm.

I always thought those bald guys in robes sitting crisscross apple sauce were contemplating emptiness. Now I realize that, instead, they are planning their next trade.

It's part of the game. There is no way to hold onto your pants all of the time. Most of the time, sure, but not all of the time.

Short covering can be confusing.

I'll forecast 1200 or lower within 4-6 weeks.

When time is considered, a day may be a very generous characterization.

They lay in wait for another 15 minutes of fame.

If your bias is in the right direction, then embrace it. When you review your trade data , if you are objective enough, you'll find trades that made you money that you should not have entered (you misread the data and entered in error). Yet, you made money. We are seeking profits, not truth.

don't think retail or commercial or institutional. Think long term or short term and highly capitalized or under-capitalized. A grandma who does not have a computer and buys 10 shares of Coke every month has more staying power in coke than Warren Buffet. She doesn't even know what a stop is and you will therefore never trigger her stop. An institutional trader who needs to liquidate by the end of the day or end of the hour, etc will mimic the behavior and characteristics of a common (bad) retail trader

You are free to take either or no side of a trade, but you are not free to escape the consequences of your decision.

I will bet that if you were to look closely at your results, you would find that you are at worst a break even trader but you get cut to death by commissions and spreads.

My opinion is that geopolitical news tends to blur trend lines.Trend is up in S&P for a very long time. Vola will change at some point, but trend is still intact.

Soon? This year, decade, or century?