MightyMouse

Paul tudor Jones, Monroe trout, Richard Dennis and others are or were CTA's that have documented, audited resullts. If one of these guys said that a new trader should trade in 6 markets, it would be more credible but that's just me.

Lol. I had no idea that Madoff was running a scam. I do know there are traders who make money. Read the books if you want and you decide.

These are top traders at hedge funds, commecial banks, investment banks. Read market wizards. The author has about 20 top traders there.

It's all available on the web it is not my opinion Real interviews with real traders not sites designed to BS you into thinking they have the Holy Grail. Most traders drool to earn 20% per year, given a sane level of risk. There are the freaks of nature that will have an incredible streak and produce incredible results for a long period of time and we are fortunate that we have some of those freaks right here on this thread to learn from. I do hope that this is not going to turn into debate about rates of return and I will concede beforehand that I know nothing because I am breakeven and don’t know as much as others on this thread that post spectacular blotters.

If my firmly stating the preposterous is disrespectful, then you are right, I am disrespectful. Forgive me, but I found it difficult at the time to believe that this thread has traders that are better than the best traders in the world. But, because of an incredible change of events, I now believe, unequivocally, that the best traders in the world are on this thread. So, I will keep quiet and learn from those traders who are better than I and will no longer try to offer a balanced view to newer traders because I am just a breakeven trader and only the opinions of the guys who post the spectacular blotters are what matter. I think I got it now.

Give me a lesson in etiquette. Certainly, you have proof that I was disrespectful in my first post. Prove it.

You guys are funny. I can see how Bernard Madoff was able to get away with what he did for so long. Sometimes the obvious just can't be seen until you get whacked in the head by reality. Everyone! Browsfan is right! trade 6 markets before you learn how to trade 1. Go for it.You should all be able to do it since he did it.

Cheif, you are about 1 in 10. That's not very sad.

I guess if you really try, you can deduce that. Or, it could be that I simply wanted to offer newer traders a balanced view on the topic of whether they should trade 1 market or multiple markets. Being that I stated, honestly, that I am not making money, it was used against me in a condescending manner. So, being honest did not pay off for me and my statements were discredited because they directly opposed the authors and he felt the need to discredit me in any way he could just to remain right. So, if someone is willing to discredit me, because they are more experienced and a better trader than I, they should certainly be willing to back it up. If they are not willing to back it up, they really shouldn’t bring it up in a conversation since all they have are after-the- fact blotters that do not prove much. I can generate those all day long. Once again, I wanted to offer newer guys friendly advice to help them one day preserve capital when they went live because what was being presented is dangerous for newer traders.

Dude, Unfortunately, that is the deficit I face because I am honest with my results. I am a breakeven trader because I have stated such; they are good traders because they post spectacular results here. I will prove live that I am what I say I am. Will they prove that they are what they are? Do not count on it. If they are unwilling to verify that they can actually produce those results, do you still want to believe it? They really have no right to discredit me because of my results unless they are willing to verify live that they can produce these results. I promise you they will not. Doesn’t the silence on this issue tell you something? I started out losing like a lot of traders do and I am basically breakeven since March of 09. I might be in the same position in 2 years, I might lose money again, or I might be ahead. A good trader can have flat YEARS, but you do not want to hear that because that doesn’t fulfill the fantasy promoted by many about trading. Do not take my word for it; research it on your own. Do you have any idea of what a decent rate of return is for a trader? Do you know what an awesome rate of return is for a trader? Research these on your own. You will be shocked to learn. I am not going to tell you because I am a breakeven trader and not credible. Do not for a moment think that breaking even is not good. Statistically, I trade better than something like 90% of all traders. Do not be naïve. This is harder than you think. Unfortunately, doing well in this business can mean that you are not losing money. Hope, that you have figured out how to not lose money in the markets in about a year, but don’t take my word for it because I am only a breakeven trader and not credible. Why is what I say appealing? It may not be appealing. Apparently, new trader prudence is completely against the grain in this thread.

Once again, I was simply adding balance for newer traders. It appears, however, that balance isn’t welcome. If new guys want to believe that they can successfully take short term trades in multiple markets trading live, go for it. You’ll be part of the majority very quickly. I am breakeven because I am honest. I could certainly post all type of fun results, but I do not see how that would help me and it would certainly hurt someone else who is trying out trading and seeing that they can’t even come close to producing my fake results. That might lead to a false sense of inferiority on their part as a trader. As I stated, I will be more than happy to demonstrate live that my results are what they are. I reiterate that no one posting spectacular results would dare take me up on my offer to verify their results. So, you guys will all be better traders than me as long as you keep posting great results and no one takes me up on my offer. And, you have carte blanche to continue discrediting my statements because I was honest. Brownsfan, I am, once again, in no way saying that my way is the only way and that I have it all figured out. The fact that you are suggesting that your view is better because you have been trading longer, etc tells me that you are dealing from a me vs you perspective. My only perspective here is what is good advice for newer traders to be reading. I know there are many ways to skin a cat. I am merely offering newer traders a different view that may appeal to them. It is not me against you. Understand the spirit of my comments. You blew up accounts learning, right? Apparently you had the ability to replenish those accounts, or you wouldn’t be trading. What if someone doesn’t have the ability to replenish multiple accounts? Or, if they blow up an account and get discouraged, then what? Do you see why I suggest that it could be suicide?

I need to respectfully disagree with your second point which is probably more accurate if you are a position trader who holds trades for weeks or months where you might chew on a decision overnight to decide whether you should sell, etc and are not bothered by the daily or weekly price fluctuations. But, because of the competiveness of the intraday markets, successfully taking intraday short term trades in one market on a consistent basis is very difficult. Trying to do it in multiple markets is suicide. In sim you are playing something similar to a video game and it’s great to learn that way. But, in live trading you are trading other traders who eat, sleep, and breath the oil market, S&P, Euro, etc and will eat you alive if you do not eat, sleep, and breath that particular market and get on the wrong side of their trade. Their behavior is nothing short of predatory and I would strongly recommend that people master one market especially if you are new to short term futures trading.

I didn't ask for you to do it today. Showing me a day in the past would hae been good enough.

That's great and your method seems to produce lots of winning days. I was wondering when was the last time you had a day that either all of your trades lost or your net equity position was off for the day. Have you had a losing day?

Brownfan, You are a machine! When was the last time you had a losing day? MM

I have been skimming the thread and, as one may suspect, i missed a lot of the nuances of what was being taught or presented. Before, I go back and attempt to truly follow a long, I am wondering if anyone has ths far been abe to adapt any or all of the imformation on the thread to live trading. Is this like EW with volume analysis or something like that? I would appreciae anyone's insight. MM

Goldman makes its trading profits from trading gray area inside information. Otherwise, their trading profits are mediocre.

Clearly, you can imply from the screenshot that the concerted effort to "push" down price in all US markets worked and, erroneously, you can conclude that each time they attempt to push prices they will succeed. I think the more interesting screenshots would be the other 7 out of 10 screenshots that show them failing or actually getting their arse handed to them because price didn’t react as they expected and now need to liquidate. It looks like another good way to overtrade your account.

It wasn't my intent at all to rub you the wrong way. Just that wyckoff is the study of price and volume and not really price or volume. It sounds like you have determined that price action works better for you. No worries.

Thales, Thales, How is your trading very much based on Wyckoff if you do not use volume and believe that price tells the story and no additional information is necessary to trade it? Volume is a very large part of the Wyckoff principals no matter which interpretation you use.

Brian, If you want to learn Wyckoff, you should go right to the source and seek out the original works, which are still obtainable. Originally, it began as a stock selection system. So, you will find that most modern renditions of Wyckoff attempt to use about half the original method to find trading opportunities in futures and forex markets. So, essentially, all are "Wyckoff for Dummies" versions of Wyckoff. Trading is hard enough when you are intelligent. Why would you want to learn how to trade like a dummie?

1. The divergence in hindsight was a great reason to stay out. If you do that trade 2000 times, most of the time you'll be happy you stayed out,, the rest you would have made so much money if you had stayed in that it would have more than made up for the losses you would have taken by staying in and losing. Decide how you want to trade it. 2. I would have shorted at near the globex high and if i missed it, i would have waited for another set up to develop, but in no way would i have taken the short where you did because it's not the way i trade. I am not suggesting that you are wrong for taking the trade; just that I don't trade that way. 3. Pay attention to the longer term trend. You can start by looking at the daily trend and take trades that are only in the direction of the daily trend. To find the daily trend, put at least 100 bars of data on your chart and look at it. If it goes from lower left to upper right corner, then the trend is up. If goes from upper left to lower right, then it is a down trend. You don’t need a service or indicator to point this out. Expect to take losses. you will never, ever trade without losses.

Is this thread re-opnened?