brownsfan019

No problem. Keep meaning to do a write up of recommended books in the Candlestick Corner, but that PDF is a good place to start.

James - not sure what this thing is called, but on my FireFox tabs toolbar (where you store links to sites you visit) the TL logo is gone. There was a blank space for a bit and now FF is grabbing random other sites logos and putting it there. I can click the button and still come to TL but the TL icon is no longer. Is this just on my end? I think that it also corresponds to the logo you see in the address bar. Currently on FF, there is nothing there for TL.

Attached is a PDF I made of recommended books. Amazon.com.pdf

Frank - mine moved over in the simulation version. I had one small hangup, but it was a quick fix. For me, it was pretty smooth but that's not to say that will be a 100% guarantee for you.

Here's a good article from Investopedia. Scroll down to the middle of this page on stockcharts and they talk about DT/DB w/ Bollingers.

There's so much you could look for... a few ideas: Touch BB or Keltner Market Profile areas Other S/R areas (globex high/low, previous days high/low, etc.) Candlestick patterns VSA stuff Plethora of oscillators - macd, stochastics, etc. You get the idea. Basically, just seeing a DB or DT by itself can be a risky setup. Equally important is entry method, where to place stop and where to exit for profits. As you can see, quite a bit needs to go into it.

I think you'll find that double bottoms/tops (and triple bottoms/tops for that matter) work great on some days and will get slaughtered on other days. Risk management will be key to make it work and IMO you'll want/need some other confirmation - candle patterns, indicators, confluence of S/R, etc.

Forex and other exchanges that don't have this extra fee. Hopefully someone is wise enough to realize that before this even has a chance to see some movement.

Just to clarify - is the new rule on TL that any link to elitetrader will be deleted? I've posted plenty of links to ET on TL and they were never deleted. Now I see DB is policing this policy and I was not aware that it is against the rules to post a link to another trading forum. So if someone could clarify the rules on posting links to other trading forums, that'd be great to clear up any confusion. Thanks.

Here's a few screenshots of the ZB dom taken last week: The first one shows where you might see a 1 tick spread depending when you get your order on. That does happen during the day, but most times are pretty standard like the other 2 screenshots.

http://www.cmegroup.com/education/

I started this thread in hopes of letting traders know what was up in case they hadn't heard. That's it. Your choice if you want to email, call or whatever but as I said earlier, if you do nothing, then keep your mouth shut if this passes and you have to trade elsewhere. At this point in the process, getting the word out and then contacting your reps is a good start. While one email about this is unlikely to get a response, if reps are getting a nice amount of these emails from people all over asking them to vote no on this, you never know what could happen. If the overwhelming public support is to vote no, hopefully that influences them more. I doubt there's many public support emails coming in supporting this measure (at this point at least). Other than that, there's not much else for us regular guys to do right now. Obviously we are not going to hire our own lobbyists or anything like that, so this is what we can do. If it gets serious, we have to assume that the CME and every other firm that would be affected would step up their game. Hopefully it does not reach that point.

One step at a time there newbie. Pick a market - Indexes or Forex - and then roll w/ it. The grass may look greener on the other side initially, but this business is hard enough as it is w/o trying to be a market master in multiple, different markets. I personally would suggest the regulated world of the US futures contracts. INDEXES: ES, YM, NQ BONDS: ZB, ZN, ZF You can't go wrong IMO with any of those. I would pick one subgroup (indexes or bonds) and then focus on that subgroup - meaning, watch the ES and NQ while trading the YM. You don't have to trade the ES or NQ, but just see how the react in comparison to the YM. The moves should be similar, but also a little different. This thread is a good little thread about bonds. I'm having a field day in bonds lately and barely even look at the ES anymore. Of course this depends on your trading style, but I think too many overlook bonds in their search. If you need some software, I would demo Open ECry's. It's free to customers and you can get a free trial as well. I believe the trial is 2 weeks, but if you ask nicely, you should be able to get an extension on that if needed. Data IS INCLUDED in their package. Hard to beat.

No doubt about that. But let's keep the emails, letters and phone calls going! Tell people that know what you do and care about it and get them to email too. This link takes you to an online petition that you fill out, it finds what reps to send it to based on your address and you are done: http://www.rallycongress.com/no2tradertax/1536/tell-congres-to-block-trader-tax/ That is quick, easy and very little time required on the part of the person using it. And the emails are sent (in case wondering if it actually happens) b/c I received system generated replies to my emails saying thanks for writing from the reps.

So we should just assume our letters and emails are not read and why bother? If you stop caring and assume no one is listening, then you can't complain if your trade costs go up significantly.

Since you asked - I've written every rep in Ohio that I can. Every single one. I've also written the retard behind the bill and the ways and means committee chair.

http://www.openecry.com/traderstoolbox/plugin_download.cfm Link to the plugins for the software. As of now, looks like replay only available in sim.

BG - one step at a time brother. There's a chance this won't see the day of light as the rep supporting it does not have a good track record with these bills. With that said, step 1 is to email, call and send letters to your reps in Congress. If it does pass, one question will be if this tax can be applied to US citizens that trade abroad. For example, you can easily trade the Dax or Stoxx if used to trading the ES, if this add'l tax would not apply there. So let's see where this goes before you jump ship, but step 1 is to take action now w/ your reps in Congress!!!

You could start a blog and link it to Word, keep word up and type your ideas and send it off. Pretty straightforward after you link it. More info

If trading futures, demo Open ECry's software. You can get 2 weeks to kick it around. While VWAP is not preloaded, this post on the forum has the code to easily do it! Gotta love that!

For sure - something like this would kill most any brokerage that caters to those nasty active traders - stocks, options, or futures. I think you'd see brokers out of business, many job losses and much less revenue for the exchanges b/c volume would dry up. All that would be left in the futures biz would be Goldman vs. Morgan Stanley and maybe a few locals. Everyone else won't be able to afford the game anymore... While the genius behind this is marketing it as a way to get Wall Street to payback, it will kill so many other parts of this business that the guy is just not seeing or could care less about. Make sure to send your emails/letters!!! It doesn't take long to send a quick email urging your reps to vote no on this bill. Doesn't matter if you are a big trader or small trader, we all have a voice in this! PS I guess we're seeing real quick that elections do in fact have consequences. While 'CHANGE' was the ticket, exactly what kind of change are we in for???

I would say yes, even though it's not my quote you are referencing. If you can dig down and find how a person operates, you can find a more suitable way of trading. For example, scalping would drive some people insane, while being comforting to others. And on the flip side, looking at 1 hour chart could bore someone to death while being easy for another to see the bigger picture and trade from... So if you can find what suits your personality, you can better find a trading style/timeframe that works for your mental well being.

That's the thing DB - they ARE making cars... albeit w/ little to no profit. As of now, those dealers and suppliers do have jobs and continue to have jobs while the cars continue to be made. If/when the co's go bankrupt, then the domino effect will be big. How big is anyone's guess but a serious ripple effect.

Here's some links I found via that 'other' website: Contact the brilliant mind behind this: http://www.house.gov/formdefazio/contact.html Contacting your congress rep: http://www.visi.com/juan/congress/ Contact Ways & Means Committee: http://waysandmeans.house.gov/ (Contact in upper right corner of page) Track status of this bill: http://www.govtrack.us/congress/bill.xpd?bill=h111-1068 At the very least, send an email expressing your concern over this ridiculous 'tax on Wall Street' when many normal guys will be hurt by this tax.

This is really an interesting dilemma the US gov't is facing w/ this. How can you justify propping up co's that may go bankrupt anyways? The money at stake here is huge. But then you have so many jobs - both directly and indirectly - tied to this. Just so many people's jobs and lives at stake here too... I have a feeling either option is the wrong one. Good luck to Obama and his advisers working through this one.