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Everything posted by JEHs
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Maybe because of all of us "Sim" traders now. I think BFs intention was to show real traders real profits and now, we have a bunch of us "beginners" who are sim trading, thus not really giving an example of the profits, (or losses), that a real trader might be experiencing. I think the intent was for us to look at these posts and ask questions or whatever, if need be, but not to really post until we are profitable. I had started posting at a time when I was trading real, but my last couple posts were sim, so I think I'll just back off until such a time, if it ever occurs, where I can actually show some real profit from real trades.... Those are my thoughts on this, FWIW... Maybe a separate thread for sim traders, but what would be the interest in that? Probably very little.
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In the end, down for the week, but still feeling strangely good about the week in general...
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Felt like I had somthin goin on this week. Nothin huge, but somethin...
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Grrr. Oh well...gotta keep plugin along, I guess...
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Not trying to argue, and I like OEC, but it is not really as good as, say, Ninja for simulated trades. OEC in sim will almost always fill my target the first time it touches the price. In real life, price almost always has to trade at least one tick through before it fills. Same with a limit order entry. I have to keep notes as I sim trade. If I get a sim fill on my entry, but price just touches my limit, I will note that as a no entry. If price hits my target and fills but does not tick past my target price, I have to continue as if it didn't fill and then it goes on my log as a no fill and if it falls back and stops me out, I will enter that as a complete loss, rather than a "fill and move stop up". Occasionally you get the fills in real life like that, but it's better to assume that in sim mode, if it doesn't trade through, you don't get the fill. I have traded both OEC real and sim and have a great deal of experience with this. It would be nice if there was a way to set the orders in sim so that it would need to trade one tick past. then you would know for sure that your fills are realistic... It's not a big deal, you just need to be honest with yourself about the trades as you record them. I guess this isn't the thread for this discussion though....
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I managed to put together a profitable week...:hmmmm:
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Interactive Brokers... You can set up a paper trading account, though I think you need a real account first, but that just needs 2500 usd or something to start, then you can trade anything in the paper account. There are live charts there too, but not real great ones. JH
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Using Daily Charts to Trade W/ Thales H,L,HL Method
JEHs replied to brownsfan019's topic in The Candlestick Corner
Here's one that I entered the other day. More of a TTE type trade, I guess than a break out, but, still, a momentum play... I took profits already on half and stop is still at scratch. Probably will just stop out and be done here in the next day or two, but sometimes these down moves are strong... I know this is after the entry, so the fact that I actually took this trade is not important, really, just the idea of the setup. Anyway, I see this thread is coming back to life so what the heck. I like this EOD trading and should probably do more of it since my daytrading sucks. -
There is always talk of reducing size, but for most of us who are learning, and, I would guess, many who are successful, they are only trading one or two contracts anyway.... I dunno...can't get any smaller than that...
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Trading for the week
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This weeks trading...
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Nice to see the Mopars in this subject. When I was a "kid", 30 years ago or so, I had a 1970 Superbee. No hemi, but I had the 383 moving pretty good. Fun stuff. I don't know if I would spend money on any kind of special car now even if i did have it, but I wouldn't mind having one of these to tinker with again. It's the tinkering that's fun. It would take a tremendous amount of money just to take this out on a Sunday afternoon, now days. With the 456 rear end gears I had in it, the gas mileage was not good. Fun stuff... JH
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Trading P&L, week 1/4-1/8/10.
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Merry Christmas! [ame=http://www.youtube.com/watch?v=DKk9rv2hUfA]YouTube - Charlie Brown Christmas[/ame]
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Therein lies the problem for most. All this talk of discipline, but what is required is something to be disciplined at. :bang head:
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I am wondering if there is a way to get the OEC Demo to figure the commissions in to the P&L? Not a big deal, I do this on my spreadsheet after wards, but if there was a way to have it show that, it might be nice. just a thought...
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I just found a good program here for workers comp for my employees that is that type of set-up where a bunch of contractors got together and started their own program. I have often thought that would be the way to go with health insurance. Make it some sort of a co-operative, and eliminate the folks at the top making their millions, negotiate with hospitals and clinics somehow and put a great deal of effort into eliminating fraud. It would seem do-able...but I don't now how you would go about starting something like that. It is really the same principle where if we could take all the money we have put into insurance our whole lives and had it sitting in a savings account, we would probably have enough to cover anything that might happen. Knowing you would be fairly healthy for 20 years you could self insure yourself that way. But now, here we are. Past middle age and wondering what to do about health insurance...lots of money down the drain...
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I have have been self employed for over 20 years and now have assuranthealth through my State Farm agency. I don't really know about any others, it just happens to be what State Farm put us with. We pay thousands a year and never see any of it because we are healthy and have a very high deductible. I think they are probably as good, (or as bad) as any of them, it's all just playing the game... Like everyone, we are insuring against catastrophic loss, but now days, even a very high deductible cost a lot of money. It is really quite ridiculous no matter how you look at it... :bang head: JH
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Ahh... it's all clear to me now...pull the trigger at the right time... I'm going to try that and see how it works. I noticed when I pulled it at the wrong time, things didn't go so well, but I wasn't quite sure what to do with that information. ...so, I have to pull it at the right time....the light bulb comes on...:doh: Is that the 2nd thing, or is that just sort of building on the first thing? :haha: Sorry, for some reason this just struck me as funny. The long winter nights are setting in and I had my two beer Sunday night a little early. I'll try to keep quiet now. :rofl:
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Pulling the trigger isn't the problem for most of us, I'm guessing, so it must be the "other thing". I am on the edge of my seat now... this could be just the nugget of information we have all been waiting for all these years that will put us over the edge... :rofl: Good times...
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The investment is in time. As has been said here, everything you need is available for free. The thing is though, you can't really compare this to the professions of doctors or lawyers, because to do that all you need to do is invest the money and time and you pretty much know you will come out the other end with a career that pays pretty well. In this trading business, you have no idea. You could put in 20 years or the rest of your life and never really make it. If all I had to do was pay the money that it costs to be a doctor and put in the time and I would be a trader, even a mediocre one, I would do it, but the fact of the matter is, there is no way of knowing. These days everything you need to trade is available for free. You need to put in the time and see what happens. No guarantees. Everyone starts off thinking they are the exception to the rule, but most of us end up not being the exception.
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Using Daily Charts to Trade W/ Thales H,L,HL Method
JEHs replied to brownsfan019's topic in The Candlestick Corner
A couple more charts I'm watching...(FWIW) -
Working with the DOM is the way. I Forgot about the DOM when I started entering my orders on the charts. I can still enter the order on the chart and then move to the DOM to move the stops both at the same time with a little more surety. Moving them on the chart, together, as I said earlier, is just a bit tedious. Once I am down to my final bracket, I go back to moving the remaining stop on the charts. It is not as slick as Ninja, but it doesn't make my machine smoke either. JH
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Using Daily Charts to Trade W/ Thales H,L,HL Method
JEHs replied to brownsfan019's topic in The Candlestick Corner
I have an older version of Amibroker that I have had for years. All I do with it now is update the stocks and ETFs that I watch using Yaho data, it is free. Works real good for marking up EOD charts. I don't know if I would go out and buy AB now with all the free sites out there, but I like it for what I do and then everything is on my machine.. anyway, just a FWIW. -
Using Daily Charts to Trade W/ Thales H,L,HL Method
JEHs replied to brownsfan019's topic in The Candlestick Corner
Potentially a failed HH now, but I'm not sure if i'm too excited about this one here...