MightyMouse

Being trustful is a good quality. It probably means you are trustworthy. If there is a vendor who you are suspicious of, enter a post on these threads and it is very likely that others have had experiences, good or bad, with the individual. You could have read about Huddy about a year ago I think. Continue being trusting, but be dilligent as well If you know how to trade, you'll figure out the markets soon enough without someone's help.

Professional traders risk more than they can afford to lose all the time.

schroedray, A conman that looks, seems, and sounds like a conman can not survive as a conman. In spite of the facts that he is a scumbag, you still think he was a good guy. You are an awesome judge of character. So, since you thought he was a nice guy, and you are an awesome judge of character, it follows that you are going to doubt that he was a scam artist. Anyone who claims to have made money in his room could have made the same money flipping a coin. Maybe more if they were lucky.

This post makes me think of Kristie Brinkley

Oddly enough, I got a banner about single woman ready and waiting in my city.

Sometimes I end up getting in at a worse position. Sometimes I end up getting in better positioned in the direction of the major trend. As long as the direction remains the same I will keep trying to get positioned. I can and have gotten hacked up trying to get positioned. No reason to pretend that I haven't; however, overall my winners are big enough to cover all the crumbs I give up.

My record is somewhat opposite. I end up catching the direction, but it usually comes after multiple attempts at trying to enter, or more accurately, after several small losses. As such, my win rate is near 35%. The long term trend defies logic while it is happening, which is why it makes it so difficult to spot or difficult to ride. I find that stepping back and simply looking at the chart and determining its visual slope over the last 200 bars ( lower left corner rising to upper right for an uptrend, upper left to lower right for a downtrend, etc) will give you the best assessment of the long term trend. Studying candles or bars is the surest way to let myopia set in and get out early or, worse, call a top or bottom and try to reverse. I cannot lie. There are few things in life that are better than catching a trend or move and riding it. Patience, discipline, and confidence.

I am concerned about anyone who is opposite me. The highly capitalzed long term traders are often pushing down to steal the positions from the weak longs. A weak long frequently becomes supply pretty quickly. A long term trader would rather remove a weak long trader at lower prices than to start marking up prices and have the weak long puke his position at higher prices.

It is a matter of timeframe. But, it rarely, "Vee's" to a new trend, so, I would say confidently that this is just a pull back in a major trend. Funds are still flowing and being encouraged to flow into the markets. The fed wants equity values to grow so that corporations have the equity to borrow against to create jobs.

I am describing selling at support in an uptrend and taking money from weak longs who enter and begin scaling out immediately or have stops that are very close to their entry. Or, buying at resistance in a down trend when I suspect that there are weak shorts who have entered and are trying to call a short term top. My definition of a weak trader has nothing to do with a traders ability to make consistent profits. it has to do with his patience or conviction to stay in a trade. I, in fact, fit neatly into my definition of a weak trader when I day trade. As such, there is nothing wrong with being weak.

The goal is to find people who are willing to pay you. Taking a trade in the direction of the trend isn't going to help if there aren't people who are willing to pay you in the timeframe you are trading. Given a timeframe, it is frequently a better strategy to get paid by the people who are trying to take a trade in the direction of the trend. Hence, you can make money taking trades trading against the trend. Do not be mistaken by what it means to trade against the trend. It is not the same as countertrend trading.

Limit? ?????????????????????

At this point it seems to be coiling up nicely for a move. Remove your bias and trade it either way as a break out. I would guess a fake out and then a move in the opposite direction. To trade it you have to take a lose or two trying to get on.

Why?????????????????????????

A gentleman posted these rules on a different thread to help shut down the after-the-fact trading geniuses. It worked and I thought it might be helpful on this thread. It always seems to me that those who are the most critical of others trades, reveal the least about their own trades. Man up or shut up: 1. Since these trades allow more time for decision making, if you would like to post your trade, please post where you intend to get in and out before the fact. So, if you are going to post that you got into a short at 1320 when the market is already at 1315, and then please refrain from posting it here. If you want to post that you intend to get short at 1320 when the market is at 1315, then that is fine. If you entered at 1315 short and the market is at 1320 and you are short, then you can post it. 2. You can make any comment you like, but make sure that it is before the fact information. So, if you think that someone should have gotten out at point B because you are brilliant and you knew it was going to turn there, please refrain from posting. On the other hand, if you know it is going to turn at point B and we have not arrived at point B yet, then please share. 3. If you had an order that you say you had in that should have gotten filled and last minute you mysteriously and miraculously decided to pull it and did not post that you were pulling it, you will get called on it. 4. If you post a chart of what you did, you can do so, but only if you indicated what you were going to do before the recorded events on the chart occurred.

Do you think that the Oanda Open Position Summary is good representation of a currency's true open position summary?

No such candle stick exists. You have a glitch somewhere. Look at other data sources. However, there will be times when you see bizarre levels.

Mitsubishi, If the above statement was not just a lead in to the rest of your awesome post, then I have to disagree. I do not feel that "big players" deserve to be held in high esteem. A small trader and a "big player" can enter the market at the same time and in the same direction. The small trader will lose money because he made an adhoc, uninformed decision to enter. A "Big Player" will enter the market as a result of careful analysis, meaning it was right and correct to enter even though he lost. If each lose, what is the difference? The difference is the level of arrogance and humility. The big player can be just as dumb as the dumb money small trader. Big players make mistakes and the mistakes are frequently big and profitable for small traders to take advantage of. Long live the "Big Player". Bar none, I enjoy your posts more than any others. MM

The bulk of people who trade use technical analysis and they lose money. Trading tools do not make a person a trader. The bulk of people who trade do not know how to trade and will therefore lose whether they use technical analysis or not. On the other hand, a "newbie" could have decided to start trading the S&P in the spring of 2009 and observed price crossing over the long term moving average. Experts would have advised him that the indicator is lagging or doesn't work and that he probably would have missed most of the move already. If he was dumb enough to stay in long enough, at this point he could have had enough money to retire on if he was also dumb enough to add to the position instead of scaling out like the experts advise. The "newbie" was likely a trader to begin with. If someone knows how to trade, then he can pick the tools he needs to apply to his craft. I hope this makes sense to you.

Fed policy is such that it encourages aggressive trading in US banks. The fed lobbied in favor of banks being allowed to continue trading derivatives in the OTC markets when Dodd Frank was being drafted. The Fed contends that US banks need to be able to take risks in these markets to be able to be competitive with other global banks. Something like that.

You might have it backwards. 90% of technical traders lose money.

Who says times are getting worse?

Tiger's marital problems began much earlier than when the media caught wind of it. A lot of people trade perfectly fine and have issues that would qualify as mentally disabling. It is foolish to see a top performing athlete and think that since he is a top performer, his marriage, relationships, acceptance of his past, etc must all be very good. A lot of these guys are what I might consider tortured souls, alcoholics, drug addicts, etc and they perform fantastically. You can argue that they would perform better if the did not have the issues, but I am sure I could argue that the issue could also make them stronger performers. I think that if the market has you thinking about yourself, then you are failing. Your self is the easiest thing to become distracted by while you are trading. You have nothing to do with the market. When you are trading you should only be thinking about the market. Your self is neither tied to the market nor the outcome of a trade. When you are in a winning trade and all you see are reasons to get out, then you are thinking about your self and not the market. If you are in a losing trade and all you can think of are reasons to stay in, then, again, you are thinking about your self and not the market.

How about those Mets!

Expect some really handsome trading opportunities today. Bring a big bucket.