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Tradewinds

Market Wizard
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Everything posted by Tradewinds

  1. Tradewinds
    I did some searching and found this: Google Books - the Futures Game Page 310 travismorien.com There is the: Hieronymous' Study Houthakker Study Rockwell Study The Johnson Report on Day Traders Gilbert and Brunetti Study Odean's study of stock traders Dalbar, Inc Study of Mutual Fund Investors
  2. Tradewinds
    I've thought about this, but haven't tried it. Using your example, I probably would have exited the short trade long before the stop loss/reverse that you are proposing. There were two higher highs, and a failure to go lower before the stop loss/reverse. So there were signs of consolidation, which often is right before a continuation, but why chance it? Just book your profit, and if you want to go short again, then you can. I do manually reverse out of a position on a loss sometimes, but you need to be prepared to reverse out again almost immediately if it's not going to be a reversal. What looks like a reversal on a shorter aggregation period, could just be choppy consolidation on a longer aggregation period.
  3. Tradewinds
    TIME IT WILL TAKE TO BECOME PROFITABLE: I don't have statistics to prove this, but from what I've read and experienced, it can take quite a while to become consistently profitable. I'm sure there are people who were fortunate, and developed good techniques and got good information early on, but they are probably in the minority. I have heard stories of traders having mixed success, succeeding, then loosing everything, blowing out multiple accounts, taking years to become successful. There is a common view held by many that it takes 10,000 hours to become very proficient at anything, . . . . not just trading. And I have read quite a few comments warning against naive traders thinking that they are going to be the exception, and become a great trader in just a few months. So, be aware, that many traders fail, and of those who do become successful, it took some of them years to become consistently profitable. Not only that, but there are traders who met up with a major change in the industry and could not adapt. So there is also the possibility that you could become stagnant as a trader.
  4. Tradewinds
    What's wrong with Toilet Paper? I like toilet paper. I don't like the other options.
  5. Tradewinds
    Female Voice - T Minus 5 Minutes and Counting Female Voice - T Minus 1 Minute and Counting
  6. Tradewinds
    This thread is for sources to find sound files, and sound editing software: TheFreesoundProject .Org OddCast Text to Speach ATT Text to Speech Audacity The Free, Cross-Platform Sound Editor Played Sound to File Recorder
  7. Tradewinds
    It's Labor Day weekend, so I think I'll labor all weekend. :rofl:
  8. Tradewinds
    I hate DOM centering! I click the ladder to enter an order, and the DOM centers. If I immediately click to enter a second order, and the ladder has moved, I have no idea what price my second order is going to be entered at. Should we start a class action lawsuit? :rofl:
  9. Tradewinds
    There is a new futures market called the IEM. But you can only invest $500 dollars, and it's based on things like political outcomes. Iowa Electronic Markets There is a $5 dollar minimum deposit, and you can loose all your money. You can also buy contracts to bet on the Federal Reserve Monetary policy. Fed Policy - Winner Takes All No commissions or transaction fees are charged for trading on the IEM. The experiment is to determine if the IEM futures markets are considered to be more accurate than a poll. I would be interested to know the success rate of the IEM futures market for predicting the Fed Reserve Monetary policy.
  10. Tradewinds
    I never heard of Trading Technologies until this thread, and took a look at their site. It seems that their focus is on speed which is achieved through Multi-threaded architecture. They also have something called TTNet TM which provides a way to connect to your broker. It looks like it's a hosting solution. Also, it states that you can, "Easily distribute trading screens around the world from TTNET hubs in Chicago, New Jersey, London, Frankfurt, Singapore, Tokyo and Sydney—" I'm not sure what any of this really means, so if anyone can explain it in simple to understand language it might be interesting. The Multi-threaded architecture, I'm assuming, has to do with how the software is set up to utilize the computers processor, and manage how the processing is done. The TTNet seems like they have their own internet lines? Is this something like an ISP, like RoadRunner, etc.? I guess it you had a big company with people needing to see the same trading screen in different locations, that's what distributing the trading screens means. I don't know that they are trying to get small retail traders business. It seems like they are geared towards financial institutions and nationwide brokers.
  11. Tradewinds
    I have the same style. I'm always looking to lock in profits at good opportunities.
  12. Tradewinds
    Draws a vertical line on the chart 5 minutes before the news: Input: NewsAt955(True); Input: NewsAt1000(True); var: WarningLine(-1); var: NewsTimeNow(False); NewsTimeNow = (T = 950 and NewsAt955) or (T = 955 and NewsAt1000); // Shows vertical line 5 minutes before News If NewsTimeNow then begin WarningLine = tl_new(d, t, H, d, t, L); tl_setExtleft(WarningLine,true); tl_setExtRight(WarningLine,True); TL_SetColor(WarningLine,Red); TL_SetStyle(WarningLine,Tool_Dashed2); End;
  13. Tradewinds
    {EasyLanguage NYSE UpVolume minus DownVolume. } var: uVolCls(0), dVolCls(0)); uVolCls=close of data1; dVolCls=close of data2; if D = CurrentDate then plot1(uVolCls-dVolCls,"VOL Close") else NoPlot(1);
  14. Tradewinds
    {EasyLanguage NYSE Advancers minus Decliners. } var: AdvnCls(0), DecnCls(0); AdvnCls=close of data1; // Advancers: Add $ADV Symbol to chart. Data1 DecnCls=close of data2; // Decliners: Add $DECL Symbol to chart // Only plots today's data if D = CurrentDate then plot1(AdvnCls-DecnCls,"AD Close") else NoPlot(1);
  15. Tradewinds
    There is also the issue of opportunity costs to your personal time. If an extra 2 hours of trading gets me an extra 50 dollars of profit after commissions, I might want to just go do something else with my time. In other words, I had the opportunity to do something else with that 2 hours, and I instead used it to trade, and only made an extra 50 dollars. I gained 50 dollars, but there was a cost to gaining that 50 dollars in time.
  16. Tradewinds
    Let's imagine that the U.S.A. wanted to back the currency with gold. Let's use M2 money supply to estimate how much money is actually in circulation. M1 doesn't include bank reserves. M2 is the standard used to estimate how much money is actually in circulation. Money supply - Wikipedia, the free encyclopedia M2 for July 2011 was 9313.6 billion dollars. FRB: H.6 Release--Money Stock and Debt Measures--August 25, 2011 But here is something more interesting: The total U.S. debt is 54 trillion dollars. U.S. National Debt Clock : Real Time A trillion has 12 zeros behind it. trillion - Definition of trillion at YourDictionary.com So just the U.S. debt alone is bigger than the entire M2 money supply. So what should we base the needed gold reserve on? M2 money supply? The total U.S. debt? The total U.S. debt plus the M2 money supply? How much physical gold should there be in reserves? Let's use a really, really small number. Let's say, 20% percent of M2 money supply. That's about 1,863 billion dollars. Okay, so we need 1,863 billion dollars worth of gold. How are we going to pay for that gold? Let's see, we could draft U.S. citizens to work in the gold mines for long enough to cover their share of the gold reserves. Hey, that's a great idea. I've just solved the problem of how to acquire all that gold. Everyone reading this, please phone and/or write your local, county and national political representatives and tell them that you want to be drafted to work in the gold mines to contribute your share to the gold reserve. Or we could just buy the gold. Oh wait! Just a second. How are we going to buy the gold? Where is the money coming from? Okay, let's see. We could raise taxes by 1,863 billion dollars. That will bring in the revenues to buy the gold. Okay, this is a great idea. Everyone reading this, please phone and/or write you political representatives and let them know that you want your taxes to go up by 1,863 billion dollars. Okay, problem solved.
  17. Tradewinds
    No I haven't seen that. Is it publicly available? I did a web search, and found a trading website for Michael R. Bryant and something about Adaptrade Software. If it's free and open to the public, where can I find it?
  18. Tradewinds
    I looked at 4 of the pdf files. I'm not familiar with the broker that you are using, or the platform. The information in those files is very basic. It looks like you are making a lot of winning trades, but I have no idea how long you held the trades, if there was any drawdown, or what the potential commission fees were. There are platforms that provide a lot more detailed statistics.
  19. Tradewinds
    There is a special forum for the Traders Log: Traders Log - Traders Laboratory Forums
  20. Tradewinds
    Noise implies that something is not very useful and it can't be understood. How fast are you able to make a decision and act on it? The faster you are able to make a decision and act, the shorter the time frame you can trade. It's all relative. What you might be experiencing on the shorter time frame, is loosing track of what is really going on with the trend by focusing to narrowly on what the price bar is doing in the short term. You can get "hypnotized" by the price moves and stop paying attention to what you really need to focus on. I'd like to make a distinction between "noise" and speed. To me, noise is something that is distracting, you can't make any sense out of it, and it's confusing. So back to my point about how fast you can make a decision. If the price is moving very fast, and the speed somehow causes you take your focus away from what the trend is really doing, then it's "noise". What is "noise" to you, might be opportunity for someone else. Price does exactly the same thing whether you are looking at a 10 minute chart or a 1 minute chart. The issue is about how you perceive, process and act on the information. That's a personal evaluation you must make about yourself. To me, that's part of the issue. To DoOrDie's point about your strategy; if your strategy is not good, then it's all noise.
  21. Tradewinds
    You got that right. :rofl: It's all information. It's about how the information is processed and interpreted. And whether the information has any correlation to price or not.
  22. Tradewinds
    Here is some interesting history about gold and the currency. Franklin Roosevelt became president on Mar. 4, 1933. The Great Depression was going on at the time. Many people panicked and took their gold and money out of the banks, causing the banks to have insufficient deposits. People were also hoarding gold out of fear. The gold supply at the Federal Reserve Bank of New York was getting dangerously low, and the nation was looking at an insolvency crisis. So Roosevelt issued Executive Order 6102 on Apr. 5, prohibiting the hoarding of gold. It actually forced citizens to hand over their gold coins for paper currency. double-eagle-gold-coins-mystery-businessweek: Personal Finance News from Yahoo! Finance
  23. Tradewinds
    Yes, it's a difficult balance. Sellers want to attract customers, so they need to provide something to convince potential buyers that their product is good. So we are all playing a bit of a "Cat and Mouse Game" with how much information we divulge, and what cards we decide we don't want to show. The support and resistance zones look quite basic. Programing it would be more difficult. I already have a support and resistance indicator that I've posted, I'd like to try to modify it to show some of the major zones.
  24. Tradewinds
    Seems that you are in good condition to become successful. I'd be interested to know what helped you go from loosing money, to being profitable.
  25. Tradewinds
    Yes, this is the ultimate goal. Starting out, I focused on price patterns only. I now compare the price pattern to other non-price indicators. I think it's important to compare price to some other non-price pattern.
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