Nick1984

Does keeping a trading journal help from early on? I havent really kept a detailed journal apart form what trades I took and why I took them. I'm still a relative noob when it comes to trading in general not just futures. My market analysis is still not up there with some of you guys who have been doing this for ages so I'm fearfull of writing up notes on the market and taking advice from myself who is pretty inexperienced!

In terms of copying from Wikipedia im pretty sure that you can. The people who post stuff up are amateurs writing on essentially a forum so its not like they're protected by copyright but I'm sure its nice to still cite them as a source.

Hoegarden is a fantastic white beer. White being unfiltered. Perfect in summer. We have a Belgian style Beer Garden here where I live and its great in summer. Ohhh for real upper class liquor theres always Hennessy cognac. Its a distilled wine thats slightly sweet to the palate. Its pretty darn expensive though and when you're paying through the nose for it it makes sense to put it in a brandy snifter and inhale some of it back before swishing it around in the mouth and swallowing it down. Man I should be a spokesperson on alcohol.

Well in terms of higher class liquor, I like Chivas Regal Scotch whiskey. Its not bad. Also Glenfiddich is good if you like whiskey. I prefer whiskey over bourbon cause bourbon is too sweet. For the clear stuff, Finlandia vodka is good its got a sharper and not so powerfeull taste like a Smirnoff does. Very nice when it's cold so perfect for a martini mixer. For you rummies Baccardi 351 will make you see another dimension after a few hits its some potent stuff.

Hehe thanks for that Mark, forgive my ignorance lol but you never know unless you ask!

Thanks for clearing that up James. I was confused as to why my post was deleted!

I saw transformers last night. It is a pretty good movie but it is soooo damn long. It went for 3 hours. THey could of cut a lot out of it. I don't wanna give away any of the plot though. It would be great if they make a sequal with Galvatron as the main bad guy cause he was the ultimate bad guy in Transformers. I'm waiting for the new Rambo movie to come out looks pretty sweet. Any other childhood cartoons that you wish they would make into movies? Id love to see: Astroboy Captain Planet Garbage Pail Kids Daria made into a movie omg so many others! Voltron!

On stocks I've seen lots of traders put in "dummy" orders which can send a lot of people into a spin in order to help price move even a few cents in their favour. I stopped looking at the Level 2 because of that. On trading halts some one stock I was following worth only 65cents had some bids being placed up over $1.20 before quickly being withdrawn before the commencement of trading again. Lo and behold what happened a lot of noobies rushed in and bought up at these high prices expecting they were onto a miracle stock then price tanked all the way down to 70c all in the space of a couple of hours. I don't trust tape on stocks at all!

I'll ask this now but I guess I might have to wait for the videos to understand this. The way I see it is that you need to really wait for most of the day to finish before you get a clear development of your volume histogram so the VWAP and PVP would be used retrospectively i.e: the VWAP and PVP made today would give me an indication of what to expect tomorrow? In essence this seems to be similar to MP but using volume histograms instead of TPO's. Correct me if I'm wrong though. It's a very interesting thing you've got going on here.

Torero yea I've had that its really nice. Its a good summery drink. Unfortunately these types of drinks don't look good in a public place here where they are seen as "girly" drinks, so us blokes have to put up with beer and hard liquor such as whisky, vodka, and bourbon. One drink that I love if you really need a pick me up in the wee hours of the morning is a jager bomb where you take a shot of jagermeister and mix it in with a red bull. Two or three of those will keep you rockin on till the sun comes up.

My post in that thread was deleted and I have no idea why. I wrote nothing about Joe Ross or even mentioned his name in my post! My post was simply answering one of the questions in his original post as to why some people who know their stuff don't have the guts to actually put down a real trade....my reply was some people who don't have the guts to put down a trade but are profficient should become trading coaches instead. I can't see how this is inflamatory, offensive, or disrespectfull to anyone, therefore I can't see why my post was deleted!

What pattern does your handle represent Mark if you don't mind me asking?

Hey Brown, in all of Walters set up posts I always read it as a sort of "variations on a theme" style where they are all more or less based on his original "flip" trade just tweeked for different market conditions. In all of his trade setups I have always assumed that these are taken well after the first 1-2 hours of the trading day because they seem to require a lot of analysis on what the market may do on that particular day, so I don't think that he actually incorporates all of these set ups on a daily basis. After the first hour or two of the market opening, he spots the way the market seems to be moving and then applies the set up variation of the flip that suits that particular day best. If hes shooting for 10-20 points net a day then he can go in and out about 2-3 times a day with these set ups. Thats how I've assumed Walter is operating but them I'm just speculating!

So once u got your strategy down pat the ES sounds like a much more efficient market for scalpers. If you can cover your positions with a 1 tick gain you could drop 30-50 lots on and go for +5 to +10 and make a healthy living off that. Not bad. I like cooters idea it sounds very reasonable.

BEEEER. Can't go wrong with Beer. I love it. http://www.youtube.com/watch?v=nlVPHu7k7jw

Brown, slowly your advocation for the ES has made me very curious! Once I master all my setups I'm gonna try the ES cause now I got a curious itch I need to scratch!

I've usually found that around pivots its a good idea to watch the tape and volume closely to see how strong the movement towards the pivot is. Like Brown said indicators don't always work!

Personall I found that stock trading was good for learning before starting in futures because of the leverage effect of futures u can blow up your account faster in futures than in stocks where u can trade off your own equity. That being said the YM is a bit more beginner friendly. I've only started on the YM for about 2 months. The Russel is based on micro cap stocks which I don't like but thats a personal thing. The ES seems to be the big boys league and there is a lot more liquidity than on the YM but I think you are also open to a lot more automated systems there as well. Question to anyone who actually trades the ES on a regular basis: What is you definition of a big player on the ES in terms of number of contracts traded on any one position? On the YM you look for the 10+ contracts but what about on the ES? 30+?

So what does the CCI indicator actually measure? It seems like a momentum type of indicator not to dissimilar to the RSI or Chaikin Money Flow but I may be wrong cause i've never actually used it.

I love this song when I feel that I'm loosing control of my emotions and I need to remember to keep it simple: Please note there is some swearing in this clip so if you're offended by the F word dont watch this. That being said its a great song with a great beat and nice overall message which in terms of trading I use to help me keep is simple.

So without the series 7 you cannot trade those listed types of securities? In Aus we have the Australian Securites and Investments Commision (ASIC) but the only type of qualification you get form these guys is called PS146 which is required to give financial advice provided your licensed by ASIC themselves.

I used to play piano. Played piano for many years and used to play stuff by Rachmaninov (I have really big hands) Chopin etc. but I don't know why I just lost interest in it and I havent touched the piano in a few years. I don't fully regret it yet but I think I'll get on it again in the future.

Ohh forgot to ask sorry, on this set up you can only do it later on in the day I'm presuming i.e: After lunch session? Seems like you need an already establised market profile which is non trending.

I like the simplicity of your trades Walter, they've been really quite inspirational. The Flip trade is very similary to the way I play pivots and MP clusters. I have noticed the patterns in the lazy trade before but never had the balls to take it. I don't use bands in my trading so I don't measure the moves outside of the bands and I dont use the CCI indicator either cause it hurts my eyes with all those things moving around. I think that someone who uses TICK and TRIN would be able to catch the same moves as well when combined with tape. I like the set up. Post up some more charts of it if you get a chance.

Sounds nice. I like the simplicity of Pivot plays and MP. Now all I need is a copy of TS...hehe