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Tams

Market Wizard
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Everything posted by Tams

  1. Tams
    You have described the prospective students I have outlined in my post #6. If I were you, I would market the course at no less than $25,000. Those who cannot afford it would never bother you.
  2. Tams
    what is the difference between trading 1 lot and 10 lots? or 100 lots? the only times it gets uncomfortable are when 1. deep inside you you know you are overtrading 2. deep inside you you are really not too sure about what you are doing In both cases, you don't need a genius to tell you what not to do. For one indisputable fact about life -- sooner then later, the market is going to catch up to you.
  3. Tams
    some truth to it, and some misinformation. the fact is, no two people trade alike. but that is not total lost. you can make the $600k back (and more), there is only one thing you need to do -- don't repeat what you did wrong.
  4. Tams
    certain things you can learn from others, but not all. For example, If I were long and the market was going against me, when the opportunity prevails, I can reverse my position and go short. This is a skill (ability) that comes with a particular knowledge about the market and its behavior. Not all the situations provide a reversal opportunity. Now you can sit beside me and watch me trade; I can explain to you all my set ups and let you know my entry and drop dead points ahead of time. But when the shxt hits the fan, some people will freeze in disbelieve, some people will wait (lose more) then exit, some people can exit immediately and take a small loss, but burden with guilt that they cannot do anything else for days. Only a few can exit and reverse. I can tell you all the theories of stop-and-reverse, but this is "experience" you cannot not buy from others.
  5. Tams
    Thanks for sharing. .
  6. Tams
    No, I am not in the trading business. I am a trader. There is a difference. I don't know Don Jones, never heard of him, and have no need for his product or services. If you think he has something to offer, by all means get it. And report to us on your findings.
  7. Tams
    re: Why do you think a $500 trading course is worthless and $5000 an hour is a bargain? You seem to have reply to me before reading my post. Why? Why bother? I have already given you the answer to the exact question you are asking. Please read my post again.
  8. Tams
    Commotion? You got feedbacks. The feedback might not necessary what you want to hear, but they are feedbacks. :-(
  9. Tams
    I don't know who Don Jones is. Should I know him? You seem to worship him.
  10. Tams
    There are paid mentors. I am not saying there are no good paid mentors. There are good profitable traders who would take on students for a fee. They are few and far in between, they are difficult to find, and even more difficult to persuade them to take you on as a student. How much are you willing to paid for such a tutuorship? Well, lets do some math. How much do you think you will earn after you have learned his system? 1) I don't know. How could I know? 2) $1,000 per month 3) $5,000 per month 4) more than $5k per month if your answer is 1, you have just failed the entrance exam. His system is not for you. Move on. if your answer is 2 or above, then how much do you think the mentor is worth? Would $500 do it? Would $5,000 do it? or many be you meant $500 per day? I will let you do the cost/benefit math. enjoy.
  11. Tams
    having said the above, all is not lost. There is still hope, there are still ways. First, there are good hearted, good natured, successful beyond means profitable traders who would mentor, and they would mentor for free. They don't need your $500, or $5,000. They want to pass on their skill to someone who is willing to learn. Unfortunately most people do not want to learn, they just want to get rich quick. Second, there are good hearted, good natured, successful beyond means profitable traders who would mentor, through writings on the web. And they would mentor for free. They don't need your $500, or $5,000. They want to pass on their skill to someone who is willing to learn. Unfortunately most people do not want to learn, they just want to argue. The writings are preserved on the web, freely available to those who want to learn. One might ask, there are so many writings on the web, how do I know which is good and which is bad. Well, if you cannot discern the substance from the fluff, you probably do not have to ability to discern a bear trap in a bull run, and probably trading is not something you should pursue.
  12. Tams
    How do you want to do your education is none of my business, all I can tell you is, some of the "ways" will not get you there. One of the way is to buy a system. and for sure one thing, no profitable trader will give away a system for $500. Just think, take inventory... who are the prospective students? you won't find many diligent conscientious humble eager learners. I can tell you who you will find: they are usually full of fantasy of get rich quick dream of wealth without labour, under capitalized, got ego, want to get everything for nothing, argumentative, have weird logic, rationalize everything to suite his cause, have excuse for every fail, but never own up to any responsibilities, social outcasts. Just think... Why any sensible trader would give up precious time for $500 to baby sit these losers? the answer is simple, no sensible profitable trader would do that, only scammers would.
  13. Tams
    what kind of data do you have? is it a continuous contract data? do you have your data in an ascii file? if you are using esignal, you don't need to enter the historic continuous data, because esignal has it all prepared for you. if you have an ascii file you have to create a symbol in MC first, then import the data into it. go to QuoteManager right click on the symbol you have created, select import data
  14. Tams
  15. Tams
    just change the tl_new to tl_new_s and time to time_s etc and you will be set to use the code in MultiCharts.
  16. Tams
    Pirated copies of MultiCharts is missing an essential component. This component can be downloaded in real time from MultiCharts when you are running the program. However you are out of luck if your copy is pirated. Be careful with what you have, the erratic data might cost you more money than buying a legit copy.
  17. Tams

    Bernanke Speaks

    Tams replied to Tams's topic in General Trading

    Ben Bernanke Speaks 10:00 AM ET
  18. Tams
    in the beginning, trading is EXCITING. every newbie can tell you how much fun that was -- you enter an order to buy, and in no time and you exit with profit. How exciting. You must have wondered, what took me so long to discover this? Then trading becomes a GAMBLE. You made some money, then lose some. You try to make them back -- the more you lose, the bigger the next bet (in relation to your account size). You thought you knew what you were doing. You only trade the sure bets. Like all the horse gamblers and sports gamblers, you studied the statistics, you studied the trends, you studied probabilities, you thought you were doing the scientific thing. You weren't. You are a gambler, and you didn't even recognize it. You know the story about gamblers -- no gambler has ever won. At least you don't know one. Then trading becomes a STRUGGLE. Nothing makes sense anymore. The report comes out positive, and the market dives. The report comes out negative, and the market goes up. You have the uncanny ability to buy at the top and sell at the bottom. You tried to be diligent; to prevent uncontrollable losses, you start to use stops for every trade. You entered a close stop, it was taken out immediately. You moved the stop a bit further away. It was taken too. To add insult to injury, the market would turn around as soon as your stop was taken. OK, you are going to be smarter, you thought, you entered a stop that is 3 standard deviations away. There is no way the market is going to get it. It was taken out too. :-( You would make 10 small profitable trades, and lose all in one big loss. More than once you thought of throw in the towel. .......... more later
  19. Tams

    FOMC Today

    Tams replied to Tams's topic in General Trading

    it has been a good day
  20. Tams
    my experience with IB has been excellent. I don't think anybody become big by being bad.
  21. Tams

    FOMC Today

    Tams replied to Tams's topic in General Trading

    FOMC Meeting Announcement 2:15 PM ET
  22. Tams
    I trade ES and HSI. I have been using IB for my data. In the past I have used eSignal and tried a couple other datafeeds. I found IB data adequate for my purpose. Many people complained about IB's data. I analyzed their data and compared them with eSignal (it was considered the best at the time), I found that if my system's profitability relies on the data's micro-accuracy, I really do not have a workable system. Because no matter how good the datafeed, it is not accurate; It has missed trades, it has delayed timming, it has aggregated quotes. Even if you are sitting on the trading floor, the data is massaged. YMMV... some need more, some need less. If your profit is from market delta, VSA, etc., you might need more. If your profit is from scalping, you will need more. If your profit is from swing trading, you can probably use less. Examine your method... and find whatever works for you.
  23. Tams
    . opportunity is a double edged sword
  24. Tams
    if you are using tick bars (ie sub-minute bars), you can only draw trendlines with MultiCharts. Tradestation cannot do sub-minute analysis. ps. when posting codes, please use the code tag. It is the key at the top of the message frame.
  25. Tams

    ESM2 Data

    Tams replied to Trendup_'s topic in Open E Cry

    Market closes at 1615 (ET) on Fridays.
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