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torero
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Everything posted by torero
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John Carter's book Mastering the Trade has a method of dealing with gaps. This book also has a tactic for trading gaps. Amazon.com: How Technical Analysis Works (New York Institute of Finance): Books: Bruce M. Kamich Here's an article that might get you some ideas based price action: http://www.traderslaboratory.com/forums/f43/trading-gaps-successfully-756.html Good luck.
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monster, I was thinking of trying out Oanda's demo and wanted to know if they are as good as they claim in terms of demo to real account accuracy (no window dressing) and if the execution and spread is as reliable. I currently trade with MBTrading and like them alot, but always looking for a 2nd account as part of my contingency plan. Thanks.
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This is where poker and trading rules become different. In trading, we don't need to do "ALL IN" to stay in the game. In poker, if this happens and I've noticed toward the end of the match when there are maybe 2-3 players left, there tend to be ALL IN showdowns. If I fold too often and resisting putting ALL IN to match this bluff or cards, I'd get wiped out through losing it slowly right?
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Penny stocks don't behave the same way as regular stocks or other quotes instruments. No public quotes and liquidity is the obstacle. Even if you do well, you won't be able to take that with you to trade other areas. Good luck.
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It's tough to read everyone since there are so many on the table and so many styles. It's like trading 5 different instruments at once. I can't multi-task anymore.
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Wise as ever, tex. I'm going to move up a higher frame to stay focused determine the plays from there. I got stopped out from the 15min bull flag but evidently law of the higher frame is dictating the moves, not the patterns in the smaller frames like the previous times. Once again, you've shined with your wisdom reaver, Attached is the fib levels tex and I use
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Stopped out. The gap down was a small clue but wasn't convinced enough since it filled it up quickly. But no problem at all, saw my signal and took it. Been fatten up like a Thanksgiving turkey so maybe market is telling me to digest a bit before another binge begins. I agree, I'm still lurking for longs until market says it's over. I'll just wait for it to find a comfortable spot and lounge and once it's ready, I'll get in. I've been having trouble getting your pivot #s to match mine. What session times do you set?
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I hope tex doesn't mind me taking the lead in opening this thread. I've already took a long this morning, following the Tokyo opening with a gap down. It just came back to near last session's high. Looking like a pullback from most recent high, I took a long here. Target is 9840 or higher, depending on how price react to that area.
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It would be a great experience, even if you're not planning to trade since it's a whole new ballgame. If I were living in Chicago, I'd seriously give it a try. I wonder now that CBOT is merging with CME, would they hike up the rates too?
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Hi reaver, This is the tape reading looking at internals that Soultrader uses applies mainly for stocks and futures. The 2 links I gave above are really chart reading (I termed it as alternative to tape reading), this can be applied regardless of the instrument you trade, if it can be charted, the method can be used.
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I found this very interesting page on Wikipedia on probabilities on outcomes in Texas Hold 'em. Poker probability (Texas hold 'em) - Wikipedia, the free encyclopedia What are the chances of a full house and a flush happen on the same game? I didn't think this is unlikely in one game.
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Studio, you sound young! Hope your journey will be more pleasant than your parents'.
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Reaver, you nailed it: more information can only distort the truth about the markets. So, the obstacles can only get higher, the learning curve can only increase with more and more indicators (supposedly TS itself has 2000 indicators), methods, strategies, auto systems, instruments, markets. Back to basics is the only method that works.
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If you have a table of 4-6 players, so how do target one specific weak player?
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Excellent insight James. So how does one know he's up against a good if not great poker player in front of him? Are there that many EGOs walking around in tournaments? Are they easy victims like in trading? I have watched a poker show late night after CNBC is done with their business programs. It's very interesting because it shows the online poker and there's an expert analyzing and commenting on each game. It's good learning experience I think. The expert can give analysis on who would be the likely candidate to move to the next round. I'm starting to get hooked. Any books to recommend? I'm going to have to cash out my gift certificate soon!
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I think throughout the decades since the beginning of century, new technologies bring in new players along with bull and bear markets. People come in with bull markets, then blow in bear markets. Some never come back, some stayed and make a living. But one common denominator is the human behavior factor: our nature has not changed in centuries and trading requires the survivors to do the most unnatural things to succeed. The famous 5%-95% ratio (if it's true) remains constant so long as human nature don't change. It's no wonder chart pattern and price action in old charts look the same as they are now. If you look at dotcom bubbles, it's not the first bubble and won't be the last. History repeats itself because ... we're humans!!! So technology won't change human nature. It may make it easier for us to trade but prevent us from screwing up the trades. Even with system trading, believe it or not, human intervention is very common (yep, dang human nature must have its hand in everything).
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I just saw the latest Bond movie and I was very impressed with the elaborate coverage of the poker game in the plot. Since I'm a newbie at poker, I had a few questions about the scenarios and of course about facts about poker. In poker, what percentage play more an important role: reading the player or ability to calculate the probability that the hand is better than the opponent? As for the reading the opponents' habits and movements to discover his weakness, if someone who can read the opponent but has little knowledge about probability in getting different outcomes? Are there tricks to not let the opponent read you like a book? This is related to trading when the player says "All In". Technically in trading only newbies do this, but in poker this is common? Or are there many hands where the player do not have to resort to "All In"? The last piece I thought was when Bond blew out his account, his EGO was at fault (just like in trading), does this apply to poker as well? Does ego part of bluffing? Don't know how it all fits in.
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Hi testa and welcome to the forum! So does one approach making an option position? Starting with determining if there is an established range already and determine that this area has a probablity of not breaking out right?
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Yeah, she is amazing isn't she? Very good posts as always, tex. Good for you pipmonster. I'm not sure tex uses patterns at all the way I use them but it's been part of my futures trading and helped me enormously. Now with forex, it's even more pronounced, particularly the triangle. I've based most of my entries on this pattern alone in last 2 weeks. Haven't seen anything else like in other markets. Of course, it may wear off soon when everyone discovers it and also this current market favors it. Who knows. I'll play it until it stops working or at least readjust and adapt.
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Agreed redlew. Those old guys are the real gurus of the market! Why? Even if they're not around anymore their books are still selling. It only validates their methods, and they are still valid in today's markets and that says alot without marketing machines.
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Taking profits and run here! See you all Monday!
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Next trip to US, I may get it. My kids want their own laptops already. We'll see how it goes then. Don't forget to adsense me LOL!
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Long again at support near 9650 area and at trendline support. Wait for NY open and see if it'll take it higher again.
