EMC2Trader

Urma, I am more than happy to send you Vol. 2 and will do so as promised. I have seen your "Hi-Frequency Quant" tag from the beginning, and that's why I completely understand why my E=MC2 title would not meet your expectations in terms of "quant content per see", and I think you can see from the material I go in a different direction from a pure quant form of trading as I tie other elements in the mix. I have no doubt the information you present is significant in terms of the way you trade. I also have doubt it could likely benefit me in ways as well. I don't have a pure quant back round, and yet have managed to ties things together to trade well too, and it's certainly not as simple as just price and moving averages. I don't believe there is only one way to trade, or even necessarily one best way to trade. Also, please let me be clear, in no way do I claim "to have discovered anything groundbreaking," and in no way do I claim to be a "better trader than anyone else." Probably far from it. My only claim is that after years of studying all types of approaches, I have synthesized things together in terms of a broad approach that now works for me, and may provide beneficial to others based on my experience of what works for me. That's all. And I certainaly don't want to stir the pot beyond that. Life's too short. So, it's within that context I would hope to be fairly judged. Leaving town tommorrow so Happy Thanksgiving

Kiwi, Thanks for your support. I'm truly not here to stir pots, but I do understand how that happens. I'm simply trying to be very reasonable to defend some attacks, and of course that end ups being a catch-22 with regard to stirring the pot, which I'm trying to avoid. I get it. I was hoping there would be an open mind to read the entire book, however, I can't force anyone to do this. I was hoping one might recognize the value in areas such as: 1. Trend day determination and trading adjustments 2. How to define and look to trade in intraday chop 3. How to view opening gaps and first hour of trading 4. Price expectations using volume analysis via an understanding of patient/anxious buyers and sellers 5. Price expectations as it relates to acceptance/rejection of consolidation areas. 6. Realistic and unrealistic trading goals. 7. How this all ties together in actual trading with actual trading examples including account statement verification. And then from here, come to a reasonable conclusion if this trading context that is laughable, or not? I cannot force anyone to acknowledge the importance of these areas or any other area as they review content. In the end, I'll continue to maintain an optimistic view that in the end there will always be segment of fair people out there. If one feels that that all of this is "out there on the internet" and then tied together from a trader's perspective, others can decide if this is the case or not. But what I know, is no one can dispute that this is all included in the material, whether you consider it meaningful, or not. Also, while I can never, and "would never" try to force anyone to read a book, or even enjoy reading it, I feel I can at least try to satisfy anyone that feels like they've truly wasted money reading it. I don't think that point of view normally comes from a snake oil perspective. In terms of Urma, I'll just say: If you happen to one day read the entire book, and see what I consider to be either a trend day, or a breakout from intraday chop, and then are patient to look to trade as suggested, you will likely make back the price of the book 10x over on one trade with one contract. My hope, is that if nothing else, you will consider this a nice return on investment.

Urma, 1. Your idea to have come here and offer the books up for review is excellent, and I should have started with this approach. I am not afraid in the least to have the material read and reviewed, in fact I desire it. 2. As crazy as this may sound, here is what I'd like to do. (If you're not interested I'll move on). I would like to send you Volume 2 for your review so you can see how this all comes together with actual trading, and actual context each day. (Also, despite your reluctance, I'd want you to have both books for review purposes only, and want to pay for Vol 1.) Vol. 2 is considerably more succinct because it pulls everything together to show how to trade each day. I suspect this style is important to you, and everyone. The risk I run is that you'll continue to think is all garbage. I'm willing to take that risk, because I trade in this fashion every day, and have no desire to back away from this material in terms of content. All I ask from you, or anyone is for an honest assessment stating if what I am presenting makes trading sense relative to the trading goals and expectations I clearly lay out in the material. 3. I have no idea if this material conforms to your style of trading. I don't know how you trade, and your trading personality, and frankly I've always gone to great lengths to make sure everyone knows what this approach is ahead of time, how it works, how it may be similar or different from what you are doing now, and I've always taken the time to answer any and all questions up front so there are no surprises. Clearly, now that the material is in book form, I can't do all this for each and every book buyer out there. I'm aware your initial comments make my offer seem crazy, but I'm willing to take the chance that you'll either continue to see this all as just a piece of crap, or see that there is actually some substance within. 4. I would love to send the material to other legitimate individuals who want to objectively review the material free of charge as you suggest. The mistake I made (which is clearly is evident from posts here) is that I didn't start out this way, so there is ill will out there. I'd need to find out who are legitimate, open minded individuals on here. 5. Finally, I actually came here at first to answer any and all questions, and then actually display real-time, ahead of time market context updates related to the material as I sit here and trade every day. Clearly this transparancy was frowned upon as if I was trying to get people to pay me $300 a month in a trading room. I actually thought some might find this a refreshing willingness for an author to show what he is actually doing and thinking as it relates to a trading style presented in a book. Then, criticize the market analysis if you will. Anyway, I have no intention of further upsetting anyone. It's not in anyones interest. From here on out, I'm simply trying to listen to a good suggestion. Urma, please let me know if you're interested. If not, I understand, and I'll move on. In either case, your recommendation to have the material reviewed is a good one, and one that I welcome---fully comfortable allowing everyone to express their opinion.

Urma, I respect that you were honest enough to mention you read the first 70 pages and scanned the rest, and that is the basis of many of your opinions....You didn't have to say that. I too will be honest and say there have many that have read the information and have found it to be very helpful to their trading, and my number one goal has been to make sure that those trading with this approach can make money and be satisfied with the material. You have no idea the lengths I've gone to make sure everyone is satisfied, and fortunately almost all the feedback I've received from those who trade within framework has been positive. I respect the fact that you either have no interest in exploring this framework further and/or can't see any value in the information. You have every right to feel that way. I am a trader just like you (and most here), and I can promise you I would never want anyone feel cheated in any way with regard to the information I have put together. Therefore, if you want to send me a PM with your address, etc, I'd be more than happy to send you a check for what you paid for the book. I simply don't want you to feel you have wasted money. I am fine with your interpretation of the material from your vantage point, and I'll let the material stand on its own with others going forward. I don't think you have any idea that my main goal above all else is actually to help others with trading in a way that I know that works... But that's not important right now. I know you're not happy. That's all that matters, youve staed your opinion, and I'll be more than happy to refund your money so at least you don't have to feel taken advantage of from that standpoint as well. We are both not comfortable with that. Please let me know.... Steve

I will simply say, your opinion is your opinion and I will always respect that, but to review a book after reading 70 pages...wow....that's something I never would expect. I agree wholeheartedly, the trade signals are simple, but to say the book is just about moving averages and price is just unfair, whether you find the information of value or not... Clearly, the bulk book explains the context of how and when to best trade these signals. I just wanted to make this point clear for others who may consider reading the entire book...

(Click here) ES REAL TRADING APPLICATION Announcing that E=MC2 Vol 2. - Professional Day Trading - The E=MC2 Approach and Real Time Trading Application is now available on Amazon as a follow up edition to the original E=MC2 material that is designed to take E=MC2 learning to a new level. The book in written in the style of having a E=MC2 trading coach sitting next to you each day for an entire month- going through the complete thought process of how to view the big picture, integrate developing intra-day structure, and then uncover the best trade opportunities that develop each day. Included are real trading days with account statement verification to show how theory translates into actual results. A new entry approach is presented that falls under the same C1, C2, C3, C1-C umbrella, but may be easier for many to apply. Also, a scalping approach is presented that many may be interested in. E=MC2 Vol 2. ties together the entire E=MC2 approach, and this new edition will help speed up the E=MC2 trading learning curve tremendously. Also, if I receive any interest, I would be happy to create a thread to help speed the E=MC2 learning curve by providing REAL TIME (ahead of time) big picture analysis so you can see how developing intra-day structure provides context for trading decisions. FOR EXAMPLE - I hope everyone noticed the trend day early yesterday, which made for nice passive sell gains to new intra-day lows on deep pullbacks. In terms of levels, ES price is rejecting then upside breakout of big picture 1200-1050 bracket which means price may start swinging lower to 1050 with 1120 area first major pullback to swing support. The short term consolidation areas in place are 1216-1206, 1206-1193, 1193-1180, 1180-1165, so when price broke thru 1206 three days ago, 1193 was target. When 1206 held two days ago, and the trading trend turned down, 1193 was the target. When price gapped below 1193 yesterday morning and held, 1180 was target, and then when trend day developed and 1180 broke, 1165 was target. This type of logic is the key to trading E-MC2 successfully, and is covered extensively in the new, REAL TIME TRADING APPLICATION material.

One final point for those who may read this thread in response to the so-called "low price of a book " that I feel is relevant and stays within the spirit of the "Book Review" genre. Personally, I have always been disappointed to read a book from a "so-called trader" who's main goal is to have you read the book, and then try to get you to sign up for a considerably more expensive mentorship and/or training program, and frankly this includes some of the biggest books on the market. The relevancy and review of a book should certainly consider both content, and intent. In deciding to write a book, my goal was to provide completely the opposite- to take every element of a mentorship/training program that has recieved considerable postive feedback (less the full-time effort that goes into daily updates, and daily support), and fully disclose everything about the program in a book- which I feel is a refreshing change from what is often found out there, and I hope in the end, traders will appreciate, rather than castigate. Of course, I understand in the end readers will decide on the value of the content of the material compared to other books on trading.... So yes, I wanted to come here and mention that a book of this nature is now available for those who may be interested... In response to a comment about what is included in the book, I also provided information relevant to the content of the book, and frankly, I will always answer any questions about the material if asked.... Finally, I wanted to make clear that I don't consider myself to be a perfect trader by any means, or a better trader than anyone else, and I certainly don't claim to have found the holy grail of trading. I present the realistic side of my own trading very clear in the book, which I also feel is comparitively refreshing ... Over time, however, having faced the same ups and downs as many traders, I have learned to do many things right in trading, and it is this journey, and this outcome, that I share in the material in the best way I know how, and it is this context that I at least wanted to make clear- always respecting the fact that each individual will have their own opinions and viewpoints regarding matters in the trading arena.

UB, I appreciate you holding overall judgment until after you've read the work. At that point you should see how the information I posted was an effort to explain the type of thinking that goes along with the approach, and not in any way an attempt to regurgate historical information. Each day's developments certainly flows into analysis for the next day, and this is an example of the type of diary I keep everyday to help guide my trading...

I would think that if you have a "friend" who is critical of the approach, then he/she should come on here, explain exactly what difficulty he/she faced and why, discuss my attention to his/her problems and the level of help I tried to provide, so that others can understand the nature of his/her difficulty, where the fault, if any lies, so they may better understand if they will face the same type of difficulties you are alluding to. To me, that would be an appropriate review...I would then be happy to share any and all E-mail correspondences I have had with this "friend" to see how it aligns with whatever information is shared .. I certainly can respect all criticism-good and bad. I just think it's fair to hear the basis of the criticism.

Since I was asked for insight into what makes up the trading approach, I thought sharing some information would be helpful in this regard. I will gladly stop since you want this section to be about "reviews" only. I am more than comfortable letting the material speak for itself, and I welcome honest reviews...

WED - 11-10-2010 ES BIG PICTURE - 11/04 trend day up gaps above big picture 1200-1050 bracket setting path to new big picture 1280 high if price continuation can develop above 1223. After the 1200 breakout, price pauses for two days inside 1223-1216 consolidation, and then breaks to the downside. Price now sits between 1216-1200 (short-term pullback to swing resistance and big picture pullback to bracket high support), with an overall up bias as long as the 1200 area holds on a continued pullback. DAY SESSION PART 1 - (START) 1212.00 (OVENIGHT) - Price forms a tight 1214-1208 range, and price sits in overall C3 chop including yesterday's price action. Monitor 1216-1206 range to start the trading session (GAP/FIRST MOVE/RETRACE) - No Gap, C3 Sell starts first move of day down to overnight/yesterday's lows near 1208/1206 area and then to key 1200 area. First retrace moves up 50% of first move to 1206 resistance which must hold to maintain a down bias for the trading session. Day session 1 E=MC2 opportunities - Sell 8:32 (C3) Sell 8:48, 8:55, 9:04 (C1) DAY SESSION PART 2 - Price rallies strongly off big picture 1200 support to 1206 area on heavy volume, which dampens excitement for C2 sells to reach intra-day new lows. Price holds the in the 1206 area for about an hour (9:30-10:30) which shifts the E=MC2 trading bias up with expectations for price to move back up to top of 1216-1206 high after price reenters the 1216-1206 consolidation area. Day Session 2 E=MC2 opportunities - Buy 10:20 (C2) Buy 10:46 (C1) Buy 12:08 (C3) Buy 12:56 (C2) SUMMARY - Yesterday started a pullback that would likely test the key 1200 area. Early E=MC2 sell trades today captured this move. When price rallied strongly from the 1200 lows, and then broke back into the 12196-1206 consolidation area, the double strength of "big picture support and price re-entering the 1216-1206 consolidation area set the path for many nice long E=MC2 trades back up to 1216.

TUES - 11-09-2010 ES BIG PICTURE - 11/04 trend day up gaps above big picture 1200-1050 bracket setting path to new big picture 1280 high if price continuation can develop above 1223. Price currently sits inside 1223-1216 consolidation pause area "two days in a row." If 1216 breaks to the downside, look for move down to first support at 1212, and then to 1200 pullback to swing area support. DAY SESSION PART 1 - (START) 1223.00 (OVENIGHT) - Prices tests 1223-1216 consolidation low and then moves all the way up to 1223 high to start session in a C2 uptrend. Watch to see if price can break above 1223, or not. (GAP/FIRST MOVE/RETRACE) - Gap up, Gap fade sell (C1-C) to first pullback 1219 area. First retrace moves back up past opening highs right to key resistance area at 1223 to start an intra-day bias up with caution. Monitor key 1223 resistance area for breakout, or failure. Day session 1 E=MC2 opportunities - Sell 8:34 (C1-C) Buy 9:09 (C1) DAY SESSION PART 2 - Price fails to break above 1223 area and sets the stage for a down bias for the rest of the trading session, starting with a counter-trend sell setup after a failure at key resistance. Look for move to down 1216 consolidation low (which coincides with overnight lows). After 1216 is taken out, look for 1212, and after 1212 is taken out, there is room to run to the 1206 gap area during what is now a clear pullback to big picture 1200 area swing support. Day Session 2 E=MC2 opportunities - Sell 9:33 (C1-C) Sell 10:20, 10:50, 11:20 (C1) Sell 12:20 (C2) Sell 12:37 (C1) Buy 13:05 (C1-C) Sell 14:01 (C3) Sell 14:19, 14:29, 14:36, 14:41, 14:46 (C1) Buy 14:55 (C1-C) SUMMARY - Price moves up and fails at 1223 consolidation highs which sets the stage for move lower to 1216 consolidation lows. The mechanical E=MC2 trend remains in a down bias most of the trading session, and price gets as low as 1206. Price is now in the process of testing big picture 1200 pullback to swing support with first pullback swing resistance in the 1212 area, followed by even stronger resistance in the 1216 area. For now trading looks like it has strong support/ resistance between 1216-1200.

Here is a sample of the running diary I keep each day that relates to the basis of how I trade that may be of interest, and I can/will post this for a while going forward.... MON - 11-08-2010 ES BIG PICTURE - 11/04 trend day up gaps above big picture 1200-1050 bracket setting path to new big picture 1280 high if price continuation can develop above 1223. Price currently sits inside 1223-1216 consolidation pause area. If 1216 breaks to the downside, look for move down to first support at 1212, and then to 1200 pullback to swing support area. DAY SESSION PART 1 - (START) 1218.25 (OVENIGHT) - Test of 1216 consolidation low. Watch for 1216 to hold, or not. (GAP/FIRST MOVE/RETRACE) - Gap down, Gap continuation sell (C2) to 1216 area. First retrace to C3 sell area holds 5-min downtrend. First move/First retrace starts intra-day bias down. Monitor for key 1216 support to hold. Day session 1 E=MC2 opportunities - Sell 8:44 (C2) Sell 9:57 (C3) DAY SESSION PART 2 - 1216 support area tested/rejected. Volume at 10:38 confirms strong 1216 support and signals move back to 1223 consolidation high until proven otherwise. Day Session 2 E=MC2 opportunities - Buy 10:25,10:53 (C1-C) Buy 11:18, 12:01 (C1) Buy 13:05,14:17 (C2) SUMMARY - Price spends second overlapping day inside 1223-1216 consolidation after breakout above the 1200-1050 major bracket two days ago. Price tested 1216 lows early, and when 1216 held with a volume reversal, several E=MC2 buy opportunities developed as price now heads higher towards the top of the range near 1223.

UB.....The basis of my trading approach is to use a very consistent framework day after day, and then place all trade setups within the context of the big picture- including my view of support/resistance, price expectations etc., and my view of the way to analyze developing intraday structure as it relates to support/resistance, etc. and volume confirmation. From there, I place all of of this within the context of realistic trading goals and expectations in terms of how wins and losses tie together. Having read much of what is out there over many years, I am quite confident in the value of my content relative to the many books in existance from big publishers, but I'll leave that for readers to decide. I do understand and appreciate your suggestion as it relates to perception....

Unfortunetly, the movie is on hold until Michael Douglas regains his health...haha...which in all seriousness I hope happens soon.

UB, Hi...Yes I am the author, and the book is brand new so that's why there are no reviews at this time, although the testemonials on the back cover are authentic from a time when I offered the material in a different form with more full time support. Without getting too heavy into shameless promotion, and having read many, many of the trading books out there over the years (the good and the bad), I will simply say I have outlined the way I actually trade the ES market, which among other things includes real trading examples/account statement verification, etc in an effort to show how "theory translates to actual trading results," so to speak, within realistic trading goals and expectations. My goal was to write a book about trading from a "real traders point of view" that I have simply never seen presented in other books before. Therefore, I would say if anyone is looking for a unique look into "one persons view of real trading," this is the type of book I have put together, and of course feel can be of use to traders...

Without getting too heavy into shameless promotion, and having read many, many of the trading books/blogs out there over the years (the good and the bad), I will simply say I have outlined the way I actually trade the ES market in a new book called "Professional Day Trading and How to win.." (listed on Amazon) which among other things includes real trading examples/account statement verification, etc in an effort to show how "theory translates to actual trading results," so to speak, within realistic trading goals and expectations. My goal was to write a book about trading from a "real traders point of view" that I have simply never seen presented in other books/blogs before, and so far I have received some very satisfying positive feedback to know that the material has been of use to others as well. I would say if anyone is looking for a unique look into "one persons view of real trading," this is the type of book I have put together, and of course feel can be of use to traders... http://www.amazon.com/Professional-Day-Trading-How--Mini/dp/0945272502/ref=sr_1_1?s=books&ie=UTF8&qid=1289495109&sr=1-1

Amazon.com: Professional Day Trading and How to Win: The E=MC2 Method and the S&P E-Mini Market (9780945272502): Steven Nussbaum: Books: Reviews, Prices & more

Professional Day Trading and How to Win - The E=MC2 Method and the S&P E-Mini Market Available on Amazon "Finished the book and if I never make a trade using this method, the information you present is great. Have never seen the market as clearly as I do now..." "One thing I like about the book is that you start from the high timeframes and work your way down to the trade. Exactly the opposite of what most of us do..." "Of all the systems/methods I have bought, and believe me there have been many, this is the most well thought out method I have seen. Your book really does teach a "way to trade" instead of just a set of rules to mimic..." "What impresses me about the book is how you have combined one simple screen full of charts to consistently and effectively build a framework of dynamic context within which to assess unfolding market conditions..." "My account is up well over 30% since I began trading futures with the E=MC2 method. Thanks again and again. The fund I manage is also able to control risk better using your methods and trading SPY..."

Just for the record, I have tried to go to the chat room many times today, and almost everytime it locks up shortly after I get in there......Does TL really have a chat room that just doesnt work with IE?

I agree....I have no desire to use this forum to discuss the series of potential trades that are alledgedly prompted by my approach....

Db Thank you...Very fair post. I will go to the chat room to discuss anyting to do with actual trades, and then then anyone who is interested can see that any trades that develop, win or lose,will match up to listed track record. Maybe this will help show if Im "sincere" or not. And here, I will be happy to further discuss some other items that may be of interest to some, and ignored by others who think it is nothing new and/or meaningful....

Atto----Ill drop by the chat room, and see whats its all about, and be happy to tell you the way I look at things in real time, etc...

BF, You are misrepresenting a few things. First, youve drawn the conclusion that everyone will take every trade listed, and Ive gone into great detail about taking the listed track record and showing how to formulate realistic trading expectations, with the understanding that the track record enables you to exceed expectations as opposed to having to trade perfectly, which is a flaw for many trading programs out there. Why wouldn't you execute every trade exactly listed in the track record? Perhaps you dont have time to trade all day. Perhaps after taking three small losses in a row, you lose confidence to pull the trigger on the next trade...etc... So it is clear your only intention is to rip something down without even bothering to understand what it is all about, and on top of that not even to present all the facts as listed. Second, I have no problem with your skepticism, but please dont extrapolate that to assume you know how I trade, or how others using this appraoch trade. You have no idea! A valid criticism of the trading approach would come from someone who has tried the approach, and would tell you first hand that it isnt useful. Fortuntely, I have only received the opposite feedback So frankly, other than your advice to check everything out as closely as possible ahead of time, your other criticisms are entirely baseless, especially because I go out of my way to present the realistic side of trading when it comes to performance, track records, discipline, following a trading plan, trading goals, etc. which of course you convienently choose not to recognize. Finally, heres what I find interesting...I noticed you wrote the following in an earlier post about someone who had a trading approach: "So maybe if this new person would like to contribute to the forum and talk about what they've learned, how they use it, etc. etc. it might hold something." So here I am doing just that, discussing the importance I place on the bigger picture and volume, and you still find the need to critcize, so theres obviously a lot more hypocracy on your end, than on mine.... But Im not here to argue any more about this. If you feel the need to continue to attack then fine, just so long as Ive made it clear you are doing so without any facts whatsoever...

Marsup....As you may have noted, I only show up here to discuss views on the market that some may find of interest, and Im not here claiming to "control the ES" ..and Im not here claiming to have cracked the code of the ES...." Where have I ever mentioned or implied that. and why do you assume thats the case? I also truly have no problem if you doubt everything I am saying here, or find this information meaningless for you--Im sure youve head me say that everyone has a right to view anything however they like, but since you and others are manking many assumptions I do have one thing I am curious about: If I list a track record of trades every day (the exact time, the entry and exit, for each trade etc.)which includes as many losers as winners, that falls in place mechanically the same way everyday from 8:30-3:15 according to the same set of rules over and over again, do you think Im just making these trades up out of thin air? I guess Im just really curious if thats the perception? Do you think Im making them up after the fact, and that you could never take any of these trades in real time? I guess I wonder if a specific listing of every single trade holds any more value than the host of all these fancy videos I see that highlight a trade of the day, or how all the indicators line up beautifully for a trade here and there, etc..... If not, then at least I have a better uderstanding of the way people think... And for the record, to answer another poster, I totally agree that everyone should do their due dilengence for everythng out there, and beware. I really dont see anything Ive done to generate some of the sarcastic comments generated here, as Ive tried to respect that this is a place to discuss unique market ideas that may be of interest.....