brownsfan019

Beautiful hammer on chart #1. Good stuff.

RIP in George Carlin. http://ap.google.com/article/ALeqM5ina7M8zC1QQGSxe-e-PxBrf9kl0gD91FRPV06 One of my favorite routines he did:

Who says this is the 'best' way to trade?

Here's a post using a mix of Bollinger Bands and Candlestick Analysis to look for possible highs/lows. And by highs/lows, I mean possible reversal points that yield potential profit.

There's a whole bunch of if's, then's, what if's in that little post right there. 1) You have no idea what "bank" traders use for trading 2) You have no idea that "prop traders mostly lose money" Therefore, there is simply no connection in what you are attempting to ask/state and equate that with the use of charting in trading.

It's amazing how the picture can change when alter or add/delete something, doesn't it? That's a daily ES chart w/ Bollinger Bands. All the "I hate indicators" guys can glance over this post. My point is that I just through up some standard BB's on quote.com charts and look what you see here. That doesn't look too terribly bad in my eyes if you pay attention to extremes (upper/lower BB) and the mid-point line for possible resistance and/or trade setups. And again, depending on entry method being used, you can avoid some false reversals. I know it's en vogue to give your allegiance to the non-indicator belief system, but if you study and know what you are using, it can be beneficial. If nothing else, the BB's here provide a road map of when to consider using a candlestick signal and when to avoid one. In the candlestick world, this makes perfect sense. Nison has often said that you cannot use candlesticks on their own - you need something else to help that signal. Here, I've chosen BB's. I happen to like BB's from a volatility stand point on a daily chart (intra-day is a completely different animal). And as we all know, just getting a decent entry system together is half the battle. Next step is deciding how and where to exit. Most of the above shown trades in green lines made money. Some quite a bit and some others not so much. So it just depends on how you exit as to whether the above shown screenshot makes money or not. I cannot possibly say if it made money or not in real-time. *********** *********** *********** AND FOR ANYONE THINKING OF USING THIS AS A SYSTEM - I HIGHLY RECOMMEND YOU DO YOUR OWN HOMEWORK FIRST. IF YOU LIKE BOLLINGERS, GO STRAIGHT TO THE SOURCE AND LEARN ABOUT THEM.

James, Just a few quick notes on your chart: Some notes: > Purple circles represent pull back type trades. If using MA's, I would consider pull back trades. > I'm curious why you'd consider a long at either of those points, other than there's a possible candle pattern there (the 1st one almost looks bearish to me).

That was really good. Well done parody.

Let me guess - on anonymous message boards, right?

http://www.collective2.com/cgi-perl/session.mpl?session=500769127363626472469432484267458&displaypage=prices.sessionhtml $98 every 6 months. Ouch, expensive. :doh:

You need an answer that says "Depends". And it depends on what you are getting for that $50/rt. I've watched some of Oscar's videos before but not sure what that $50/rt is getting you. If it's a 'set it and forget' system that makes money, sure $50/rt is doable. If you are doing a lot of the work then $50/rt is expensive. So, it depends on what that $50/rt gets you.

To build up funds and a track record, check out Collective2 and/or Covestor as well.

FS - you and I seem to agree on many things, just not OEC.

If you can make 15% - 20% per month with little drawdowns, you do not need a prop shop. And if you need the leverage, there are options and futures you can trade. Even FX if that's an option. Build the account from your new mansion in the Cayman Islands.

I would add Open ECry to your list of possible brokers.

The humor here is only appreciated by a few though, that's a shame.

:rofl: sounds good to me. we'll give TL members a discount too.

:o Could work...

Actually, I believe that is called the "NHL is a dying sport" pattern. It's one of my favorites as it hardly ever fails since we know the NHL is the biggest joke of a sports league. :did I say that?:

OK, I'll bite - how are these constructed and is it possible to get more info?

My main trading computer (where entries are placed on) is actually desktop 'replacement' aka big laptop. It's a compaq and has done very well. At the time I just got whatever the best stuff was and it's held it's own just fine. Most important thing I found was getting a great graphics card as some trading app's can really use them. I have a laptop that I just play around on and the graphics card is not that great so when I pull up a lot of things, it can slow down even w/ 2 gig of ram in it.

For sure. Intra-day candlestick use requires some practice and patience. The smaller the timeframe, the less reliable a candlstick by itself is.

Candlestick Analysis is built around monitoring possible end of trend strength. I would recommend learning some candlestick analysis if concerned about seeing possible end of trend confirmations.

This is priceless - an unexperienced, successful hobbyist. Sooner or later this 'hobby' will prove that it requires full dedication or none at all. Time will show you this. Here folks is part of the 90%+ number we hear about those that fail. Clearly this person has no desire to treat this as a serious business, they simply want an ATM machine at home while they are doing other things. And to that I say - THANK YOU VERY MUCH FOR YOUR PARTICIPATION IN THE MARKETS. May your glass always be half full and may you constantly replenish that glass. This is the beauty of the markets - anyone (and I mean anyone) can try to play in this game. And as soon as they leave, a new one will jump right in. As evidenced here, many simply want a little part-time 'hobby' and figure, how hard can this be!? And sadly (depending on how you look at it) the markets NEED these people. The serious traders NEED hobbyists that are willing to chase that pipe dream of having an ATM machine at home while on the beach getting drinks from girls in bikinis while your Maserati is getting polished. Don't let me stop you from chasing that dream though. Please give this hobby of yours a serious go and see what you can make of it!

That's a foreign language to me. Some of us learn by pictures. So if you have time, annotating and illustrating the screenshots would be great! Thanks again.