bobcollett

Dear Mighty Mouse Please explain to a simple farm boy from sunny South Africa how volatility is not bound. If there are no buyers and no sellers there is no movement. if there is no movement , there is no volatility. Kind regards bobc

Sorry Russel. I have jumped the Gun. Please ignore my post. Perhaps the Moderator should remove it Kind regards bobc

Hi Russel A most interesting post. You will flip a coin 13 times . The odds are 1 in 10000 you will go bust. You go bust.!!!!!!!!!!!!!!!!!!. Where did you go wrong???. You went wrong on on the second flip The double up. You cant trade like that. To stay in the Park you must minimise your losses. Therefore the moment you are wrong you are out. START AGAIN We wont discuss the next problem 13 start agains!!!! Kind regards bobc

Dear Traders This post should really be in the "general " section , because its not a joke. I read today that the most common names for aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaAUSTRALIANS is either "mate" or "sheila".. Unless you have a gold tooth, then they call you ....................you guessed it, INGOT. bobc

Reminiscing on 50 years of marriage, Ingot asks Sheila if she was always faithful. "No . I was forced to be unfaithful three times to help you. When we were about to loose our house I slept with the Bank manager. When you were so sick, without money, I slept with the doctor. And when you were standing for Chairman of the Golf Club , and need 73 more votes......... bobc

Dear Phamtom Dont despair. You have a 20 page thread. Thats success. Most threads die after page 3. And there are a lot more people reading your words than you think. More importantly, Mighty Mouse has not jumped on top of you, so you must make sense. (MM is on holiday) Traders are a very sceptical bunch. They have learned to be careful . All your posts will take time to be assimilated. You will see lots of thanks over the years. Kind regards bobc

For those of you looking for more detail on Phantom's "hammers", without all the wisecracks and interference Read ........ Candlesticks and Pivot Point Trading Triggers by John Person He looks for support/ resistance at a pivot. Then he looks for a hammer / doji at this level.Then he trades in the direction of the next closing bar which is higher / lower Simple, and I find it works on 30min charts and higher You can find the book at 4 SHARED.COM Regards bobc

Dear light56646, You have certainly started this thread on the wrong foot. Theres a guy on this forum called steve who shows the same humble approach. Tam thinks you are a snake oil salesman and he's a gentleman compared to his friend mighty mouse who is still sleeping.. To add some value to this thread I think you can scalp the Es with a 5k account, trading 1 contract at $50 and a $200 stop. You can make 20 scalps.But you mention somewhere that that you hold the trade for 2- 3 days. Thats not scalping. Thats Goldman Sachs trading.And you will need about 200k to survive.(for about 2 months) Regards bobcollett

Dear Wykoff If you are "new",you should,nt be trading Futures !!!!! You will loose all your cash You should start with nice moving shares like General Motors or General Electric. They cost more to trade ,and you wont make any money, but your money lasts longer while you learn And learning takes 5 years ( 8 hours a day X 200 days a year X 5 years = 8000 hours) So if you are a part time trader , it will take a while. And about FIVE $20000 accounts Kind regards bobcollett

Hi Cagineer So one contract costs $50 What has the 4 ticks got to do with it? Is this the spread to break even? More questions!! And thats what I like about TL . I can ask questions Regards bobcollett

This is a true story. Names have been changed to avoid litigation Steve and Mouse were walking down the road . Mouse picked up a small mirrow. He looked at it and said" I know this face, I know this face, I just cant place it." Steve grabbed the mirrow and said " Let me see." He looked at the mirrow "Its me you idiot!" bobcollett

Dear Mr You I think you are getting confused You started this thread with tape reading and now you'ved moved to Market Profile. Tape reading is simply VOLUME How is PRICE reacting to changes in VOLUME ? Market Profile is a waste of a year!! Your supply / demand analysis is getting closer I would like to recommend a tape reading book "Tim Ord :The Secret Science of Price and Volume" Its easy to read.You trade the pull backs with RULES. And you can trade breakouts. BUT like all books, its a guide!! Kind regards bobcollett

Dear MightyMouse Thankyou I was quite shocked when I first read the commission story. I have been waiting for my green card for 3 years When I get to the USA, I AM GOING TO KILL YOU GUYS ,and George Sorres. And I am looking for Steve46 Kind regards bobcolett

Dear USA traders Are you saying it costs $500 to enter 1 contract? Is this a 10 point spread @$50 a point or a one off charge ? Here in sunny South Africa I trade the ALSI 40 which is similar to your DOW I pay the spread which is 17 points (30 points after hours) That means if the bid is 100 and the offer is 117 I pay 117 to buy 1 contract At $10 a point ,it costs me $170 for 1 contract. The contract must move 17 points before I break even The market usually moves 200 points a day, but very volitile I thought SA was expensive but $500 is a lot more Kind regards bobcollett

Hi steve46 I hate to read flippant,silly replies to good threads but I cant resist my stupid reply "Mighty Mouse is coming to get you" regards bobcollett

"Those who say ,dont know, and those who know , dont say" bobcollett

Dear Windsurfer You ask a most interesting question"What book has helped in your trading that you still use today?" The replies are indeed minimal.Either nobody reads , or the books they read dont make lasting profits. e= mc2 is quite simple The speed of light squared is such a big number, you require a very small mass to give you a huge amount of energy. Now go and make an atomic bomb. Of course you cant!! Just like all these trading books wont make you a trader.They are simply a guide Let me offer another example "How to learn French in 20 leassons"After many months of diligent study you go to Paris and ask"Where is the metro" in french The frenchman wil tell you to get lost.He wont understand your accent. You need a teacher / guide / mentor to help you. Just like in learning to trade. You need a mentor, and this mentor does not include the $5000 type Hes a friend/ colleague who looks over your shoulder and corrects your actions. And until you get this type of help, you will not make a living. For the sake of completeness I offfer Brooks "Reading price charts bar by bar". It helped Kind regards bobcollett

Well done Mouse A positive contribution, especially the assumption that all our money does not ends up at Goldman Sachs .As you say , its not that hard, and not that lucritive. But its better than bricklaying. bobc "new friend"

Tim Your contribution is worth exactly 1% bobc "another enemy"

More useless information bobc "another enemy"

Peter Useless information, make a contribution. WHY? bobc "another enemy"

Com'on Mouse ,make a contribution , not a snide remark. bobc "another enemy"

Mr-You You are obviously clued up with all these programs you mention but as Tams asks "what is tape reading ? Are you referring to the olded days ( Tams days) when you stood in front of a telex and you read the trades? And you made a decision on Union Steel at good volume. Or are you referring to modern price action which relies on pullbacks.Where Oil pulls back to $105 in an uptrend. You dont even need volume according to Al Brooks! Whichever you choose,there is a subjective part in the trade,"is this the high/ low of the day?' When your computer program can tell you that,I'd be very keen to buy a copy bobc

At last an honest answer I wasted a year on Market Profile The indicator "Price on volume" gives you the same results BUT....................... You must look back at past opens and closes For all those aspirant Market Profiliers,go and have a look at steve46 posts on supply/ demand + his thread on Institutional interest.. I found it easier to make a profit bobc