brownsfan019

Today was one of the most difficult days of my life. I had to say goodbye to my 13 yr old cocker spaniel. Patches was my baby and this loss is not an easy one for me. I don't know what to say other than she was man's best friend in the truest sense of the phrase. RIP Patches, I will miss you so much. This pic was taken last year for our family pics. I kept putting off getting the pics done and finally the g/friend pushed me to get it done. I'm glad she did as I have some good pics of Patch from that sitting. She loved tennis balls, so we made sure to get a pic w/ her favorite toy.

Iceberg orders would be a serious issue as the goal there is to make it look like many smaller orders. Open ECry has a nice Iceberg feature and here is what the user guide says about icebergs: Order user guide attached to post for anyone that could use it. Nice info in there, even if not using OEC. =============================== As for the indicator, give it a test in real-time and see how it goes. It looks like you got a trial or purchased it, so give it a go and report back what you find. Real-time will be the key obviously.

He wants to know if what this vendor is offering makes sense; i.e. can they actually provide an indicator that shows when big money is buying.

If there is a trial, get it and try it out for yourself. Report back on what you see.

Can you explain more about the volume ratio that you are using?

I'll also equate it to oil. EVERYONE knows what oil prices are doing now, so if you want a few more questions, mention that you trade oil.

I was that guy James - slow play as much as I could. And most times it would pay off until you check someone right into a straight or flush. Enough of those and you realize that sometimes, just take the pot down and move on. Better to take the pot and have profit vs. going broke over a slow play gone bad. I think this concept is not stressed enough in poker books. I've read plenty and i think it needs stressed more, as you have done here James.

Didn't think that of James, good ideas. Luckily the CME has been very solid, so no complaints there. If your own PC goes down, you need to have a plan B. For me, that is having OEC on speed dial, straight to the trade desk. If it's an internet issue, I have a backup Verizon wireless aircard that I can switch over to if need be. It's also important to know how orders reside - either your computer of the brokers. Example - when I place a bracket order on OEC, I know the others reside on their side so even if my computer goes down, at least my stop and profit orders are there. I can't manage the position, but at the minimum, a protective stop and target are out there.

sm - that's why I just tell people I trade stocks. I'm not looking to drive people AWAY from me. LOL. Since most people haven't a clue what a future is, just saying you trade stocks is an easy way to at least get a conversation going. I'm not looking to be the guy that talks over everyone's head, esp when at a dinner or social gathering. It's like when you go to the doctor and he starts speaking in medical jargon - right over my head. I do not want to be that guy. But if you like awkward silence or being that guy, I would highly recommend going to straight to talking about futures and derivatives. That will thin the crowd out in no time.

Great stuff James. I am just beginning my journey into reads and picking up tells.

I agree James. KQ off suited, out of position was not a hand that I wanted to get into a big pot w/ preflop if I could at this table. In hindsight, I overplayed top pair and outside of that damn 5 hitting the river, I was happy... till then. LOL I'm still learning how to play cash games better. I was brought into poker via the tournament circuit but actually prefer cash games as I am a very patient player. I just have to learn how to bet better.

Well said. When I was a 'stock broker / financial advisor' I would get the 'wow, you must make a lot of money' comments. Many would just flat out say that. Now when I say I trade stocks (I just leave it at that usually) it's followed up with 'wow, can you do that from home?' or 'must be tough in this market' (since people have no idea you can make money in a down market). I used to take offense and now it's usually something like 'it's not easy but there's money to be made'. It is interesting to see the common perceptions of different jobs.

Based on a tick chart with a hull MA, here's what I would do: Learn everything about the hull MA. What's the strengths and weaknesses? From there, apply to the chart and see where you may take a trade and why. The easy solution is buy/sell based on the color of the hull MA, knowing there will be some choppy conditions. When does this work best? AM, lunch, and/or PM? Why? Does it work better certain days of the week? Why? And so forth. That's where I would start with having a hull MA and tick chart in front of me.

Got one to share... Playing at a local church festival. In Ohio, poker is illegal unless a charity is benefiting. Go figure, to play poker, I have to go to church (another discussion in itself). I am playing a $1/$2 no limit game. Been playing my standard tight/aggressive style. I mainly look for opportunities to pounce and take decent pots down and then play it cool. Prior to this hand, I am up a decent amount for me. Started w/ $100 and floating around $200 or so. Not huge stakes, but where I am comfortable currently. I got KQ off out of position and limp in. A raise after me, 1 caller and I call. Flop comes K, 4, 7 rainbow. I'm first to act and bet $20. Both players call me. About $80 or so in pot now. Turn is 6. I now see the possible straight but doubt that a 5/8 stuck around in the hand. I push all in. Big over bet on purpose. Both players call me. I'm thinking I am toast. Player A has K,10 and Player B has 8,10. So I have them dominated - Player A has top pair like me, weak kicker. Player B is on a gut shot draw to the 5 and 5 only. And the river... 5. Giving player B a straight and 'my' pot. And the standard 'I knew it was coming' followed shortly thereafter. :crap:

Right w/ you again FW. Other than an UNEXPECTED news announcement, I don't think there are bad beats in trading either. I say unexpected b/c FOMC does not catch you off guard. Regular 10am news does not catch you off guard. Like you said, you cannot be rivered in the markets. You are either 100% correct or 100% wrong.

Another great post FW. I would agree 100%. In poker, you know how many you are up against and can play accordingly. In the markets, there's always an opponent out there ready to pounce on your mistakes. You are never 'short handed' when trading - it's always a full ring game. (oh man, I am going to love these analogies). And in poker you are able to zero in on a weak opponent(s); whereas you are not necessarily going up against a particular person in the markets. You never know who is on the other side of that trade you just took. Great example FW of the differences in poker vs trading.

Good post FW. In online poker there are a few tools to 'sniff' out your opponent, commonly referred to as sniffers. These can actually be just as useful, if not more, when compared to reading a player live. It basically takes a lot of the guesswork out and provides analysis on betting patterns. Here's a link to the one that I use. There are other tools to use as well, such as Poker Pal and Hold'em Hawk. So the next question or discussion is ... are these 'tools' of any benefit, much like a chart with indicators; or are these useful tools that can be used to make money? I'm glad James opened up a poker area b/c I find it enjoyable to discuss.

The NFL season starts back up again real soon! For our international members, the American version of football is the NFL and I am big fan of the Cleveland Browns. This year is especially important to me as for the first time in a very long time, my beloved Browns are being sold as this year's team to watch. It's be a very, very long drought in Cleveland since we had a competitive team, so I am hoping this is the year we break through and take our division. No real reason behind this post other than to get a little football discussion going for anyone that wants to discuss. If you don't have a team to root for, feel free to get on the Browns bandwagon now before it's en vogue to be a Browns fan. Side note - if you enjoy football or just playing some free online games, take a look at this game. It's an online game where you build player(s) and take them from rookie to pro. I like it b/c it doesn't require much time at all.

Nick - good luck in your new venture into trading. I am just a casual poker player but there are some similarities that is for sure. I will say one thing - while 'stock trading' in itself may seem like a more 'noble' career than playing cards, many people view stay-at-home day traders in the same breath as stay-at-home gamblers. My point is that if having a more 'noble and respected' career is the only (or big part) of your move from poker to trading, I would suggest rethinking that. Reason is that in poker and trading you are looking to exploit some edge - whether that is the ability to read your opponents or having a way to consistently take money from the markets. Either way, a very comfortable living can be made. And if you have a gift of playing poker, I would consider honing in on that gift and pay no attention to the nay sayers vs. jumping into a new business of trading. I say this simply b/c you say you are making good money at cards. That's relative to each person, but it will take a LONG time before you will make a good living at trading. If it's about the money and/or job title, I would consider taking my poker game to a new level. With all that being said, trading is a wonderful business once you get to the point of consistently 'winning'. You will run into drawdowns and have bad runs just like in poker, but if you can come out on top in the end, it's a great 'job' to have. You just have to go into it expecting to fail for a bit while you learn. Just like in poker, you are going to pay for your 'education' into learning this new game. IMO it will be hard if you are pulling steady, good money from poker and focus on what it takes to be a good trader all the meanwhile losing in trading. I'm not trying to rain on your parade, but it's important you know what you are getting into ahead of time.

IMO the main attraction to futures (at least initially) is there is no PDT. You can start with a few thousand and off you go. Of course, many soon find out that a few thousand can evaporate in futures quicker than you could possibly imagine. If you are curious, get a demo from Open ECry or another broker and just place trades for the hell of it and see how your P&L / Account Balance fluctuates.

Start here and here to start learning about futures. Both sites have a very nice beginner education area as well. Have fun.

Being one that voted yes, I have to ask - what's the big deal if there is a poker area here? If some don't like it, don't visit the area.

Interesting chart kvn. What market is this and what chart setting? At what point do you enter a trade - the 2nd test, 3rd test, etc?

Welcome kvn to the forum. To get some feedback quicker, I think you'll find that providing screenshots w/ annotations the best way. Here's how to upload charts. I recommend SnagIt for a user friendly screenshot program. There's some good stuff on TL, but feel free to get your own discussion going about what you use and how. Sometimes just getting another set of eyes on your charts can spark a good discussion.

If you like poker, check this one out. Just started today myself so learning as I go. Kills some time between trades.