torero

wow! you're getting famous james! What next? Writing your own book, move to Hollywood and make a movie??!!! That'd be cool!

I don't think the Fed really cares about the weakness of the $. I don't Greenspan used the $ as a criteria on economic policy. Only concerned about inflation and debt and of course the tech bubble, 9/11 and the housing bubble. Cheap $ will certainly bring more investors in, which is what Europeans are doing with purchasing real estate in US.

backtesting is just one piece of the puzzle. Forward testing (forward walking) is essential. When I first started, I made this mistake of blindly traded the system I tested with nice results but failed miserably in real time, even when I followed it religiously. Nothing compares to real time testing, even then, there is always changing condition that will get kinks in the system that will. Systems will succeed at one time or another, but it fails too. How the trader deals with that period is crucial? Should he optimize it? Retest? Cut down the number of contracts? All these make a difference in making or breaking the system.

tradingrooms was a bit clumsy but had lots of features, people didn't like the idea of downloading then have it used to eat all the RAMs meant for their charts and trading platforms. The web-based chat was simple but lacked the real-time chart sharing. So for the real daytraders who share it made sense. There wasn't just enough interest to keep the room going.

quotetracker is a good charting tool, tons of good indicators. You have to subscribe to a feed or a brokerage that support QT, like MBtrading or IB. Feed is about 25$ but brokerage you can open an account and use the charts monthly fees. This is what I have as a backup when Tradestation goes down. The only downside of only having it without feed is there is no backfill (historical data missing) so have to keep it open/connected to get all the data to view all as far back as you want.

You have to provide more details. What part of trading: psycho, strategy?

I agree that there should be no limiting in people coming to this site to learn (after all, it's what this site was built on, not asked to contribute, only at your own discretion). As for the ET, they're only bringing more traffic over here, negative or not. Once the users come over here, they can judge for themselves whether the slander is real or not. The only thing is things they do they can get away in ET they won't here, pure and simple. If they believe ET is better than TL, whatever. TL has been doing well on its own policy so just ignore the negative rants on other forums and just focus on this one. Let the users decide for themselves if they want to learn and grow or stagnate by groaning and moaning over their own shortcomings.

I wouldn't base purchases on what somebody is advertising, it could be misleading. Same with L2, your guess is as good as anyone else' in MM's intentions in the market. T&S is better a gauge. In thin markets, don't even bother with L2. You're playing their game and their rules.

This 233 tick chart was made popular by John Carter and his book. Other than that, tick charts at different number are personal preferences. I use 600 and 3000 tick charts. 600 tick is closer to 5 min charts, 233 is a bit too fast for me.

Here's an updated file. The one you installed may be an older version. Try this one. James, can you delete the old version and replace it with this one? Thanks. FOREX-SESSION-VIEWER.ELD

Hey! Great to hear someone's using it. Here's some answers: TokyoSessionOn value need to be 1 (default at 0) if you want to see Tokyo Session. As for the time zone, you need to verify the charts you are going to use it on is set to local or exchange time zone. I set mine to local so it's easier (exchange time doesn't really exist in forex since there is no exchange anyway). The time settings are in military hours (900 for 9AM, 2100 for 9PM, etc). The should show you the open and the close of the sessions you have turned on. If you have problems, post back.

I think a healthy degree of skepticism is required in this industry. I don't believe everyone is out to get your money. When it comes to money, even good honest folks can divert from their nature and vice versa. My biggest change of heart was Bill Gates. A ruthless businessman with his unrelenting pursuit of high expectations from his employees (the work ethic culture is notorious, a friend spent 5 years in Microsoft HQ) and a pursuit of total annihilation of his competitors at all costs. But when he stepped down and dedicated a major portion of his fortune to good causes, it only showed how wrong I assume of many people.

I think being on the floor is better than half-ass noise only and no visual cues which are the most important from what they say. Like poker I reckon, hearing what your opponent is just not as good as seeing how his hands or eyes twitching when a certain hand comes up.

Wow, Feb, you're worldly traveled man, always wheeling and dealing, even beyond market speculation. Awesome!

Interesting question. I know a trader who uses indexes to mark his resistance and support and watches them. He continues to trade the futures based on its own price action until the index arrives at these levels, he pays more attention to them and possible for an exit. The influence may be there if prices are rejected and reverse, it could influence the futures to halt and consolidate or reverse as well. As for after hours, depending on the market. If the market has lots of activity outside the regular hours due to foreign involvement (grains, forex, etc). If so, these price highs and lows may be affect prices into the regular hours.

PY, these came from carry trades right? I read tales of housewives got into this fad. What will Wall Street invent the next hype?

Wow! Is this shipping lingo or trading lingo? I didn't understand the phrase at all.

It takes time to determine if it's useful. I heard Hanz mentioned it take getting used to to learn the noise level and cues to pick up to bring benefit to trading at least 6 months. I've never used it so I have no direct comment on it.

This has to stop. We're reaching a point where every thread's content and sincerity is questioned. A few days ago, the vendor clearly violated the rules of the forum and Dr. Janice has demonstrated clearly her ability to play by the rules and contribute her knowledge of the market and her area of expertise. I don't see the link as a liability or anyway promoted the site. I changed the link to the text in the post to satisfy both parties. But this has to stop. If you feel a vendor is violating the rules, please PM the mods and/or James for clarification first before posting directly on the thread. This is only staining the thread and not help the members from staying focused on trading and the markets. Please refrain from this interaction immediately.

Unexpected events do happen. I don't think they saw the subprime problem and hasn't happened in a long long time (I may be mistaken here) due to laxed legislation over the industry. I think credit liability has never been this extended. Be that as it may, even it comes to crashes or mini-crashes, many strategies don't take this into consideration to minimize the damage. LTCM was caught in a tech bubble burst, something that's happen before but not 9/11 to push it down further. The other issue is size, elephants can't drop pop without others smelling it, especially dung bettles. It takes a while to unload else others will catch on and make the situation worse. So instead of 30%, could be 50% or more.

Excellent post, Reaver, very insightful. I think books do teach us something but only "after observation and analysis..." This is where most people throw the book out the window. As soon as they finish the book, they start trading the strats without verify it works or not on paper (I was this same hick once). I still rely on books for ideas and research, lots of research and analysis to make sure there is truth in what the author claims.

There have been lots of suggestions for this to be built for TS in the forum but have been suggested with tons of other features. Just don't hold your breath. I use another platform that has it (mrswing.com) for stocks.

Personally, I think NDD is great step toward fairness. It's possible that delays may happen but I have tradestation charts and MBtrading quote screen up to compare. I can see the discrepancies between the two (MB uses last price while TS uses the spread bid price to quote last price). Once you see the differential and no spikes, it becomes predictable. So far I haven't see spikes in one and not in the others to spot possible unethical actions. Pretty consitent so far. Best to open 2 separate quotes from NDD and ND to verify the real market action.

I think she's just illustrating an example. Plus her record/posts so far have been educational and well-meaning. I think this is not considered a spam. We may have to collate the text and not a link.

Great to have you back, feb! No, the AUD is unknown territory for me, still working the EURUSD and GBPUSD, it's more than I can chew, I'm afraid. How are you doing with that?