forrestang

2nd half stopped B.E.

Here is more of my clutter for the thread! TARGET HIT!!! ONCE AGAIN IN A STATE OF SHOCK. Once again I am not happy with the P1 selection. Everything at BE, although I think the better stop would be above the last swing high,but nice to book profits before sleeping it seems. We'll see how this goes in the morning.

Howdy, Short for G/U. R:R kinda sucks on this one.

TARGET HIT I actually mind f*(*-ed myself into the placement of P1, which I initially had at 151.61, I didn't pull it down the better P1 of 151.35. I moved it to 151.48. Well, in the end both targets wound up being hit, shocking!!!

Thanks for the confirmation. That's usually the thought I have, "is this at least 1:1 R:R?" I think that would have been a much better P1 as you mentioned, but unfortunately didn't notice till after price had retraced from that point. I think now in terms of management, it might be a bit out of order to readjust the target? But if I had P1 right in the first place it would have been easier to hold on to as well. The other numbers you mentioned for Initial stops were about right.

Much appreciated for you taking the time to humor my questions with such detail! U're trade u're in, I almost jumped into a simliar trade on GBP/USD a while ago, but didn't quite stand out to me for whatever reason. What you said about P1 and P2, I find that I would hit P1 quite frequently, but I seem to place P1 too far away sometimes. Look at this trade below. I did get into the G/J, I didn't even know it had triggered as I'm watching the game. But now I see it and was able to move my stop close to BE due to a nice swing point. I think maybe a different P1 was in order. Now, I dont like where the adjustment of the natural stop has put my stop. If I cash out on P1, it would at least help me feel better. Aaargh!!! This was a worthwhile thread to resurect as it is IMO one of the PRACTICAL threads that I think has helped many of us. Also this quote above is one of the great gems in this thread, I think you painted a good picture of relaxed trading that one can visualize. I try to remain calm, I believe with time and seeing more 'deliberate trades,' pan out successfully, like DB refers to will help greatly. Particularly once one can realize that even a win ratio that isn't 99% will still yield good profitability. Thanks again!

Here are two questions: 1) Right now, with my interpretation of the way you trade, and my application of it, I don't have a set rule I could write down if someone asked me to explain it. I might say something generic like look for a brekout of an area where price has stopped moving directionally, and look for other obvious S/R(This is just an example). So I dont have a specific set of things I see when looking for BOs, it's just a culmination of stuff from the W.F., various other places and this thread. Usually something just jumps out and says, 'here is a trade." So I'm worried I'll see/recognize these everyday. So the question is, if you had to, could you write down trading rules beyond general guidelines(I'm not asking that you do, just if it's possible, or is it nothing more than seeing the same things happen over and over)? 2.) I forgot and can't remember? Substitute Question) What is your usual win % of hitting a P1? Would you say it's typically less than 50% given the amount of profit you look for?

There is nothing you can do to escape the government, and particularly I am talking about the federal government with regards to all of the problems it creates. And while moving out of the state is an option to escape the local government, there really is nothing you can do to escape the federal government. For the purpose of this discussion, the idea of moving out of the country is a bit silly. Escaping most buisiness is as simple as choosing to give your money to somone else in most cases. And it does not require one to uproot his life and family by moving to another state or out of the country. Actually, the government did approve those latest bonuses. Do you remember all the public outrage, and even from the politicians...... only later to find out that the bonuses where part of the bill the government signed, they just failed to read it obviously..... either that or someone got paid to leave the bonuses in there. Thanking government for the collapse because of under-regulating might be so.... but then again we have government to thank for this latest blunder. There where plenty of politicians calling for the further regulation who shall ramain nameless to avoid turning this into a useless partisian political thread. But let's just say at the time the chairman of the banking committe obviously wasn't interested. And sure we can talk about bad buisinesses...... but guess what? Most of them are allowed to fail! This is the distinction you don't seem to accept? Please, tell me a government program that has been created that has done something useful? Maybe they might have done 1 or 2 things right.... but their track record is horrible with the crap they create. At least the private sector has created millions upon MILLIONS of jobs. The government has not created 1 job! Why? Because it doesn't create anything!! It only takes. Don't think I'm saying government is not needed or useful, as that is not my point. But too much governement is not good, and WHENEVER they put their hands into somethig they screw it up. Government has no incentive to perform well.... other thant he threat of not getting re-elected, and you can fix this by promising enough sheeple things they want.

I'm confused? There is plenty of competition in buisiness. That is the nature of buisiness, consumers are allowed to take their buisiness elsewhere. There are plenty of every kind of buisiness offering services. And here is the best part, your wallet does most of the talking! That is not the same with government, if you think Big Buisiness has no competition, how much competition does the government have? ZERO, they have ZERO competition. What does the executive salary have to do with anything? Do you want to fix the wages that someone can earn? And about that, guess who approved the big salaries for the Execs AFTER the latest bailout, it was the government! You asked what happens when the make mistakes and want to charge people more? You take your buisiness elsewhere. They can't force you to retain their services. That's how capitalism works. You say I'm turning my eye, I'm not saying that. I'm saying you can thank government for this crisis in the first place. Fannie/Freddie, you tell me, what was the government's role in that since it's inception? I guarantee you, whenever government attampts to do more than regulate, and actually insert themselves into buisiness, IT WILL RESULT IN FAILURE. Please, name a government run program or institution that has done something useful in the last 100 years? GM is just all together a different story, that was bad run buisiness, it was an insurance company at the end.

I was thinking this last night......but in your opinion, wouldn't the more logical target be at 1039.50, where the bulk of rejection has occurred recently? Of course your target could be hit, but if you see this in hindsight, what do you think? I am sometimes confused at how I should go about picking a target myself, any help would be appreicated. Also, on a general note, why do I still feel like finding a trade everyday is going to be difficult? It seems I do ok hitting a trade most of the time, but I still feel shocked when it works out the way i anticipated, this is not a good emotion to have I would imagine?

I am not wanting to highjack this thread about the deficit, but..... No it's not applicable to big buisiness. You're not seeing the inherent difference. Competition and monopolies! There is no competition with government. It is by nature a monopoly. Also, profit motives. Like I said before, government has no motive to spend money wisely. They have an endless supply of it from us sheeple. And when they don't have enough, they simply take more money from us sheeple at gunpoint via taxes, or print more of it. Big buisiness, no matter how corrupt it gets, it simply cannot run a buisiness the way government runs itself, or it would be OUT of buisiness. And that should be governments role with regards to that. Not to take it over, not to tell them how to conduct buisiness, but as oversight. To make sure big buisiness upholds their bargans they make with the people. Worse off, politicians now run for office like a high school child runs for class presideent. It's not about what you can do, it's about making enough people like you, even if you have no experience what so ever. If you can remove enough people from the payrolls, play the populist game and promise enough handouts, you can own the country as a politician.

Surprisingly Target Hit!!! It was a 15min

I have no idea if this would trigger, but I like the long side of ES maybe for a trade. Short could setup later maybe? Potential entry a 29, stop 25.25 and target at 34.50.

Looks maybe like two possible shorts, E/J and G/J shorts here? Maybe sell pb?

I think you've fallen for the whole republican/democrat b.s. unfortunately. With the above statement, nothing anyone says is goign to affect your bias. Sure, there are real distinctions to be made between the two, dont get me wrong. The government doesn't produce a thing. There is only one way to create wealth, and that is taking a natural resource of some kind and producing a product worth selling. "Big buisiness" or whatever you want to call it actually produces something. The government only takes and takes. Worse off there is no competition, so it has no incentive to spend that money wisely. It doesn't have to worry about going out of buisiness or maintaining profitablility. If it mispends or makes a bad decision(as it always does), it knows it can simply tax it's populace a bit more, via the end of a gun barrel if necessary. The 20s is a subject of great debate. Nothing FDR did pulled the country out of the recession any faster. I'm sure you would disagree? It would be my argument that he prolonged the recession. So the discussion is pointless. Every major government program since the days of FDR has been met with nothing but dissapointment and failure. The government can't really do anything right, and FDR was the catalyst that moved this country away from respecting the constitution and the government adhering to the enumerated powers within. Just about EVERY program the government creates fails, new government programs are only mortgaging future generations paychecks. Government is the leech on society. It consists of people who have no real world experience, and they think it's their responsibility to 'save us from ourselves,' cause we're so stupid to manage ourselves.

Too much government, although it's not necessarily a new concept, just exponentially growing now. Beginning w/FDR, just too much damn government!!!

To me SIM was good for a while. After some time though, SIM became useless. But that's just me.

This isn't technical analysis but a compound growth sheet. I like to create these things and dream...... Einstein knows it's the greatest invention EVAAAR!!! You too can be a millionaire in a short time!! options_trading.xls

Wait, I have Sierra also, and was looking to do some back testing, but it seemed like Sierra was annoying? Here is what I mean. I was looking at the videos on SC's website to program an automated strategy, and they had examples using that Excel type strategy creater? Now I'm ok with Excel, but writing a strategy with it is something I don't even want to try to do. What was good about SC over ninja though, is that you can backtest the ACTUAL tick data which was great!!!! Ninja requiring the multi-time frame programming to get decent resolution for back testing is cumbersome. Am I wrong about the way to write strats in SC?

Can you expound on amibroker? What if I didn't want to use it to actually RUN an automated strategy, but is it good soley for backtesting, i.e. the ability to give a more thourough backtest than ninja? What language can you write the program in for Ami? As I've written a few things in Ninja, it would be nice if I can port it over w/minor changes. And why is it that you wouldn't want to automate anything on Ami?

What would you recommend?

Looks like I was stopped. But the S/R levels worked once they weren't broken. Except the one I took

GBP/USD

What's cool about your situation, is that since starting with brand new trader, she's not handicapped mentally. Also, not that it's a good idea, but you could probably change her default from 1K to 10K to 100K w/o her ever noticing. I mean since you're the only one using your platform, she probably doesn't pay attention to most of it. She would probably trade the exact same way and fund her college tuition in a short time w/o even knowing. You are passing on a most prized skillset that will translate into an enjoyable life one day.

Is this just a coincidence?