brownsfan019

You said it James. There's potential in the air... I can smell it. Oh wait, that's just Cleveland weather. :rofl:

Good points SMW; however.... managing OPM can be VERY lucrative. Much more lucrative than your personal deal at a prop. And that's what managing OPM is about - MONEY. AND MORE OF IT. Think of it like this - if you can do what you are doing now and just trade much bigger sizes, why not? A 3 pt trade on the ES is 3 pts no matter if that's on 5 or 500 contracts. Only difference is the amount of zero's behind the P&L. I think you've painted a very bleak picture of OPM and it's simply not the case. If you find competent advisors (key word competent) it's not that bad at all. It depends on how much you personally want to do vs. paying someone else to do it. And not to mention, there are MANY tax, retirement, etc advantages to running a fund and/or CTA setup for you and the clients. It's really about whether or not you want to scale your trading up or not. That's it. It's much easier to become personally wealthy trading 500 ES contracts vs. 5. Of course, you have to be able to make money at it too.

Well, thanks to GE this short is looking awfully nice so far. We'll see how today ends, but if we can end on a fairly large red bar, that will be a nice move in the direction of the trade. ENTRY: 72.75 (AGGRESSIVE) OR 69.5 (CONFIRMATION) CURRENT PRICE: 45.00 = +27.75 OR +24.5 ES PTS @ $50/PT = $1387.50 OR $1225.00 PER CONTRACT TRADED And that folks, is real money in the bank. There's no 'is this a real sell signal' or junk like that here. We'll leave that to other parts of the forum. Note - I did NOT take this swing trade. I wish I did now, but I did not.

Please provide an example.

I couldn't agree more. The human mind is quite an interesting thing ... we WANT stuff to be complicated so we can crack the code. We WANT the market to be such an enormous animal that only a complex system could stand a chance at killing it... For example - I am not very handy so when it comes time to fix something (car, around the house, etc.) I just know that it will be so hard and complex that I cannot possibly do it. Until I see what is required to fix the problem... Then you sit there going :hmmmm: that wasn't so hard after all. Trading can be the same way if you are willing to put aside the notion that this MUST be difficult.

So true on so many levels in poker and trading. Excellent rule!

I think you just got the best of the best in terms of where to start. If none of those work, nothing will.

Simon, That would be tremendous!! If you need more details, samples, etc. just let me know and I will do my best to explain. I think the woodie's clock is perfect for what I need, just need the alert functions to actually work.

sm - interesting post but remember that you are in the CANDLESTICK CORNER. That means most analysis here is incorporating candlesticks in the analysis. Just a heads up as to why you are seeing what you see.

I don't use MP, so not sure. Email them and see what they say.

I believe OpenECry's monthly fee is $24.95 and that includes live, real data to a HUGE amount of exchanges all over the world. Just keeping the cost down even more.

:applaud: That's how we roll in the CC baby. :did I say that?:

Very true. If trading from a daily using candlestick analysis, the 2nd short occurred on 4/7. But if you are trading from a daily, patience is a required ingredient to success. The question now is with 3 hours to go, are the bears in charge or are we going to see a doji/spinning top type line? Right now, we have a nice sized red down bar. Just what you want to see if short. Will it hold? Time will tell.

Blu - spend some time at http://www.cmegroup.com/ and http://www.cme.com while it's still there.

The daily ES is quite the interesting looking creature right now. Still maintaining a short here with a great risk/reward. There appears to be some indecision on both ends, so the first serious volume surge should push this thing around some.

OpenEcry has an excellent platform. You can demo for free for 2 weeks and then there is a monthly fee if you are not trading live with them.

Thanks Simon! There is a good example here - http://www.woodiescciclub.com/start.htm Now, you have to scroll down past a ton of crap everywhere (nice site...) and about half way down there is a trading tools section. The Woodies Chart Clock is perfect... except the alerts work when they feel like it. But it gives you an idea in case I wasn't clear.

Simon - yes, I just need something that goes off every 15 minutes. Catch is that it needs to be set to a 15 min interval at a different time than the top of the hour. In other words, need the alarm to trigger at 10:13, 10:28, 10:43, 10:58, etc. etc. from 8am - 4:15pm. Thanks for any help!

I agree. Steve Nison has turned into a marketing machine and as a result, candlestick analysis has all these fun names, ideas, etc. And in the end, it's really about visually seeing the fight of the bulls and bears. You can look at a candle and say - bullish, bearish, neutral - and know nothing about candle trading.

GCB - first, nice to have you back. Second, as you could tell, there has been much concentration on those two areas. Not sure where I thought this discussion would go HLM. Just felt like posting my observation.

Still looking guys. I am scouring for some freeware as I have to believe this is available somewhere for free. If not, the $20 is not a big deal for one of the programs but many to choose from!

After spending countless hours on different trading forums, there seems to be one constant - very few discussions out there actually talk about real trades. Sure there's plenty of after the fact discussions and even then some discussions are foggy at best. But not with candlestick analysis. As I've outlined here with the sticky threads at the top, once you put your trading arsenal together, off you go. And then look at the threads buried here on TL - we have threads where actual trades are being discussed, sometimes we see blotters and many calls are done in real-time. Just look around. I think this little nook on TL is worth so much more than many here would give it credit for. There is money being made in this corner, yet most on the forum would prefer to discuss whether a squat was a short or long. I have never seen more confused questions than the infamous VSA thread. Has there been ONE person to ever show they make money with that stuff? Just one???? Doesn't add up to me. Since trading cannot possibly be as 'easy' as we try here in the CC (candlestick corner), it can't possibly work. Call it what you want - candlesticks, price action, price reading, etc. - the underlying premise works. Visually candlesticks tell the story of the bulls and bears. And that's all this game is about - who is winning and what side will you be on?

A couple of those might work, so thanks Mr Ed! I also found this one http://www.hiclock.com/ Not exactly as I wanted b/c you have to manually enter in every alarm you want, but once it's in there, they are stored. Just not as convenient. I'll report back if any of those work for me.

I am looking for a desktop software that will set off an alarm every XX minutes and every XX minutes. I found one on Woodie's site but it does not seem to always want to go off. I just need something to grab my attention based on the interval I set it at. Seems simple enough, but not finding much via google. I thought with our tech guys here, maybe one could just build something, or maybe someone can provide a link to one they recommend. I just need something that grabs my attention and goes off every single interval setting w/o a hitch.

Did someone say fundamentals? Nah, must have mis-read that.