brownsfan019

http://www.transparentcorp.com/ Any recommendations zdo?

Other than opentick, I'm not aware of any free data that will plug into NinjaTrader. Another idea is to demo Open ECry's software. You'll get 2 weeks free and then it's $24.95/mo after that for a demo that INCLUDES data. As you've seen, data is a little expense that can creep up on you quickly. For $24.95/mo that includes an absolute TON of live data, you'll have trouble beating it. The only restriction is that it does not carry much old data.

Take some screenshots or better yet, do a screen record and let me see pop and I will take a look for you. But I need screenshots or a screen record to see it live and in action.

It is a great letter. Takes some guts to do that, but I have to applaud his desire to speak his mind to a captive audience. :applaud:

FYI - if you are going to start posts about the spam, DELETE THE LINKS FIRST. :thumbs up:

Assuming you can spread bet, stick w/ stocks if a $5/tick movement is too much to handle initially. You can trade something like a GE that moves in slow, 1 penny increments.

I do use brackets on most orders and they work fine in live.

Well then, pardon me. There's plenty of reasons and all/some could be right. It's in the eyes of the beholder. But, I don't want my useless drivel to interrupt your marvelous prose here. Oh yeah, there are some good FX traders around here, so maybe if you didn't flat out offend them in your initial post you might have gotten a little reply from them... Perhaps a site that has 'elite' in it's name is more suited to someone of your intellect. I can think of one that would probably be more appropriate for the level of sophistication you are looking for.

That's an excellent point Kiwi. Something I've been thinking about myself. If we assume that the ranges will contract, using the above mentioned system there seems to be a few options: 1) As Bo mentions, enter into trades assuming your S/R (in this case pullbacks to the 20 EMA) will hold. 2) Bring in your profit targets. Good comment though Kiwi. Possibly could discuss in another thread if there's interest.

The live system is fine. The demo is meant to serve as an idea of how it works, but it's not perfect.

Your question deals w/ using fundamentals for your trading analysis while many here use technicals.

LINK Oct 17 2008 12:01PM EDT Hedge Fund Manager: Goodbye and F---- You From the Scorched Earth Files: Andrew Lahde, manager of a small California hedge fund, Lahde Capital, burst into the spotlight last year after his one-year-old fund returned 866 percent betting against the subprime collapse. Last month, he did the unthinkable -- he shut things down, claiming dealing with his bank counterparties had become too risky. Today, Lahde passed along his "goodbye" letter, a rollicking missive on everything from greed to economic philosophy. Enjoy. Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye. Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, "What I have learned about the hedge fund business is that I hate it." I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America. There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are. I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life. So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don't worry about my employees, they were always employed by Mr. Springer's company and only one (who has been well-rewarded) will lose his job. I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life -- where I had to compete for spaces in universities and graduate schools, jobs and assets under management -- with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established. On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man's interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft's near monopoly. I believe there is an answer, but for now the system is clearly broken. Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. You won't see it included in BP's, "Feel good. We are working on sustainable solutions," television commercials, nor is it mentioned in ADM's similar commercials. But hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won. At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country? Ah, the female. The evil female plant -- marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country. My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources. Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western). You would not know this by paying attention to U.S. media sources though, as they tend not to elaborate on who is laughing at the United States this week. Please people, let's stop the rhetoric and start thinking about how we can truly become self-sufficient. With that I say good-bye and good luck. All the best, Andrew Lahde

Depends on what you decide is the confirmation. As a candle trader, I'm looking for some sort of bullish price action. Bearbull prefers hammers/inv hammers.

My thoughts exactly.

You first.

Is it a high probability signal if it violates one of your fundamental rules?

I was referring to the post about Ninja and Zen Fire data feed being free.

Any idea what brokers? And is it unlimited or capped?

To the OP - in addition to building your trading library, start to get some screen time. Screen time meaning watching the markets in real-time and getting a feel for them. If you plan to trade futures or just need a low cost solution to watching real-time, I would strongly suggest using the Open ECry simulator. Here's why: 1) Everyone here, regardless of how they trade, will tell you that screen time is important. And it is. 2) Starting out, it can get expensive getting data feeds and such to be able to watch in real-time if you are not trading. For example, TradeStation charges over $100/mo easily if you don't trade. 3) OEC is inexpensive IMO for what they offer to sim users. You get an incredible amount of live data (limited back data) and you can play around as much as you want. I believe the cost is $24.95/mo. You won't be able to beat that. So look around and get your hands on something. NinjaTrader is free to sim but you'll still need data to plug into it. Not sure what other brokers offer as well.

The Futures Game: Who Wins, Who Loses, & Why (Hardcover) I recall hearing about that book as well, haven't read it myself though.

OEC does based on the account size. Nothing to get excited about though. What does IB pay on funds?

Awhile back I made the attached list and I think it's a pretty good start! See the PDF. Amazon.com Embedded into Tiny URL's.pdf

The other side of the coin is using a firm that allows traders to trade w/ the 'regular' margins but have the proper risk control in place to ensure the idiots only take out their own account. I personally would not want my margin reduced simply b/c the firm is afraid of the true idiots that do not understand it. Example - Open ECry has the proper risk controls in place so that margins have not been adjusted AT ALL during the recent times. Does that mean OEC is a bad firm? Far from it. They are catering to their professional traders, CTAs, etc. all the meanwhile have the risk controls in place to make sure the idiots don't hurt anyone but themselves. So, I disagree 100% w/ the 'this is good for them to raise margins' as one that understands margin and can control it properly. Since I don't keep a ton of extra cash in my futures accounts, I like the ability to set my own margin settings and not at the discretion of a firm worried about the idiots messing the system up. All that says to me is the risk control in place is not robust enough to keep up.

More or less for my reference, what are the major pairs to look at in the FX area? I tried to find it in other threads but didn't find a good list of the major pairs. Thanks.

The domino effect from this is much more than some people losing jobs or 401k's going down. It could get much worse. Desperate times call for desperate measures.