Reaver

I got one of their promo CDROMS in the mail and checked it out- the only thing I found remotely interesting was Jack Schwager's speech...but even that wasn't that great...I didn't go to the seminar though....not a big fan of FXCM or anything they touch....

Thanks Walter and notouch. I'll start tonight when I get home. Yeah you're right notouch, alot of the stuff is basic MAs/candles, etc, but hey that's what good trading is all about. I mentioned to walter on another thread that my stuff is so boring I almost didn't want to post it. ha ha

I am still unclear on how the whole thing works, even after reading about it...I get the concept, but the application part isn't hitting on all cylinders with me. I'd definitely like to hear more about it as more information becomes available.

Thanks Brownsfan. This really helps me alot. It's always better to hear from someone who actually uses the methods, etc than just reading a book anyways. It gets filtered through experience.

Yes that is correct-since long term is completely relative...I am talking about mostly using daily charts for trading decisions.

Thanks Dalby, are you self taught?

Thanks for the info Bobajob- would you mind elaborating a little more on the balancetrader info? What I have read on the site seems interesting enough- but just curious what you had to say about it.

Thanks man. I am going to post some stuff tonight to get started.

Well said Walter, you summed up my views on that one as well. I do use profit targets on certain trades, but there is a built in risk reward on them that is very nice. They are longer term and much more rare...the PT's are big and of course overridden when market conditions warrant.

James is right. Some people get it (or at least think they do) after 6 months to a year...but really just like in anything there is no replacing experience. Two years is a good minimum for building the intuition and self-knowledge that is required. Like Soul said- it's always amusing to look back on stupid mistakes and laugh at yourself and realize how much you have learned since then. Also, FWIW I would recommend trading on daily charts. But there may be better ideas from others. I just think that having three hours a day would alow for some very good research on dailies without having to be glued to the screen... Even if you want to day trade one day I would still recommend starting on dailies to get a grip on the manner of the markets. Just like we used to say in the military when transitioning from running drills dry to going hot...slow is smooth, smooth is fast. Remember that.

Walter, good thread ideas. I am going to be following along! Also, on another thread you mentioned me sharing some of my ideas, and I recently started a thread to do just that. Longer term methods.

I'll give it to ya Walter, you're a smart dude.

I noticed that a bunch of TL is geared towards the shorter time frame, mostly day trading. I figured that I would attempt to offer some insight into some longer term ideas. Not sure if James would want to make a sub forum so I can keep this separate from the other techniques, or just mix it all up-which is fine. Even if you are mostly into day trading, you may find these ideas helpful in starting up longer time frame trades for your account. (And to be honest-these ideas will work in any time frame- I just happen to have used them in longer term trades.) I have a few ideas that have been found to be most rewarding for me and I'd be more than happy to share the basic concepts with anyone interested. Stay tuned....

Any updates in light of Jim Dalton's new book coming out that touches on longer time frames? Wondering if anyone has given it a shot.

Thanks for the info.

Yeah I agree. I have given it a cursory look and am considering going a little deeper into it. I am always looking for something to give me a better feel for the market. Thanks for the info. I'll have to check out PoP.

Yeah just make sure the new traffic isn't going to abuse the awesome forums we have here. But yeah that's cool. It's a great forum and it's always nice to have more minds at work.

lol thanks man. I am gonna give it a shot. I trade on momentum using EOD data and SMR charts- I was thinking that checking MP out, especially MiP (the editorial notes it is also for longer term grasp) may give me a sharper edge on where price may go. Does that sound logical or am I crazy? mmmm leftovers.

Hey I was wondering if anyone had any more insight on the new book by Dalton. I read the book review section but was wondering if anyone had any more opinions, perhaps after a little more time to digest the info. Any and all opinions welcome. I wanted to keep this in the premium discussion to stimulate some discussion as it seems not much activity takes place here! Have a good one ya'll.

Just wondering if anyone had any information on the subject or opinions for that matter.

Nice info Walter. Thanks man.

This definitely not like any of the other forums. That kind of BS isn't tolerated. So definitely feel free to say what you want to say and don't worry about a bunch of immature argument.

Tasuki- I definitely see your point. I can understand the reluctance of one to divulge their "Trade Secrets" (no pun intended) that were hard won.....however the beauty of trading is that you cannot teach someone experience. Think of a parent raising a child....they can tell the kid all day long not to smoke cigarettes or drink or whatever- but really what is going to happen is that the kid is ultimately going to have to find their own way. They can listen to the parent if they are smart and hedge the school of hard knocks some, but ultimately, until the kid finds out for themselves through experience-what the parents told the kid is merely words and guidance.... Just like sharing trading info- you really have to end up finding out for yourself to get an understanding.

Thanks Walter. He is much bigger now...he's a good dog. Yeah a monkey would be pretty cool, but it would probably freak me out if I got up at night to pee and there was a humanoid figure in my hallway. I'm just high strung like that.

I agree, I found the book to be quite enlightening. Lots of good info on Psychology.