Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

TimRacette

Members
 View Profile  See their activity

  • Content Count

    310

  • Joined

  • Last visited

Everything posted by TimRacette

  1. TimRacette
    mslk- most of the benefits on that list encompass futures as a whole not just the /YM. Multi-item futures offer superior tax treatment and accounting benefits for sure. I also find those markets to adhere to technical systems better than some individual stocks.
  2. TimRacette
    emg, I find trading successfully, above all else is dependent on your ability to fully accept the risks associated with placing each trade. If you can learn to detach yourself from the money and trade with size small enough that does not instill fear of loss, then you stand the greatest chance to succeed as a trader.
  3. TimRacette
    Thanks for all the killer insight Rande.
  4. TimRacette
    johnw- it's amazing how childhood experiences stay with us long into our adulthood and shape our subconscious actions.
  5. TimRacette
    Steven, imo it's much more difficult to trade nowadays as apposed to 20 years ago, and I think it will continue to become more difficult as the markets become more efficient. The meat of the move is in the larger time frame. It's hard to compete as a few tick scalper with so many HFT systems hitting the tape all day long.
  6. TimRacette
    Logic does make a great point, most recently the flash crash, there were technical short setups before the crash even took place.
  7. TimRacette
    TheDude, do you trade out of Chicago then? I agree with a lot of your points.
  8. TimRacette
    Wow, that's cool you got to speak with Nassim. I've heard some interviews he's done on EconTalk, quite the eccentric character, but there is a lot of weight to his arguments. Pretty deep stuff.
  9. TimRacette
    Technical in the sense that they adhere to the same technical setups each day. When the trend fails you can have confidence trading in the new direction because the setups are reliable. (A 15-min chart is my preference).
  10. TimRacette
    Technical analysis is really just a way to identify the trend. The edge emerges when you combine your strategy for entry with cutting your losses when the trade goes against you therefore resulting in manipulating the odds in your favor. HOWEVER, if you do want some interesting theory and empirical evidence to support that the markets are random Nassim Talebs' book's the Black Swan and Fooled by Randomness will do just that, I recommend the audio versions.
  11. TimRacette
    From a technical standpoint there is no market like the ES. Except of course...the Euro. Between ES and 6E I've found that there are quality setups every trading day.
  12. TimRacette
    Limiting yourself to two full stop outs on the day allows you to keep the gains you have accumulated and limits your risk if you start off the day with a losing trade. Trade small when you are losing, trade big when you are winning.
  13. TimRacette
    Thanks Negotiator I'll check that out.
  14. TimRacette
    There's a lot of benefits of having supplemental income or a passive income stream, especially when making the switch or trying out full time trading. Timothy Ferris's book the 4-hr Work Week is a great attest to that.
  15. TimRacette
    Trading is one of the most difficult professions around. No one can argue to that.
  16. TimRacette
    I have to agree with iwshares, if anything the death of Osama puts military back on high alert. The fundamentals of the US economy are still unchanged.
  17. TimRacette
    Thinkorswim is the way to go, imo DiggerDon. They're the Apple of options brokerage platforms.
  18. TimRacette
    mslk - I use thinkorswim and Finviz is a good tool for creating watchlists.
  19. TimRacette
    I agree with MM there are better options out there for the shorter time frame trader. While the ES may be extremely technical, the ranges make for slow trade at times. I look to the Euro (6E) for technical + large range trade.
  20. TimRacette
    Hey Choubix, I know thinkorswim's Prodigio platform is pretty robust when it comes to setting up your automated strategy, that would be one to check out. There's also another firm out of Chicago called Tickit, they have a pretty solid platform as well.
  21. TimRacette
    I would argue that the ES is the most technical instrument there is, that being said, you are competing against the best traders in the world. My second point would be that most hedge funds use the ES as a hedge for their long stock positions, to put it simply. First published in the Brady report It's the consensus among many traders that the October 1987 crash was caused in large part due to this hedging known as portfolio insurance, selling large amounts of futures contracts against their long positions. Will all that, I still love the ES, 2010 was a fantastic year for trading it. 2011, not so much. The Euro is a much wider instrument to trade in that the moves are still technical and it moves in price swings equivalent to 25 ES points a day. If I had one instrument to trade right now, it'd be the Euro Futures.
  22. TimRacette
    MM, Might wanna stop and read a little closer next time. -Tim
  23. TimRacette
    I can't speak for you or anyone else Peter, but it seems as though many of the baby boomer age folks spent their lives working in a job that they really didn't feel a strong passion for. Now that they are retiring and have built up a small fortune over the years, they have the time, and the money to do the things that they really enjoy and feel strongly about. College grads these days value living life for today and taking "mini retirements" along the way, not saving everything till when we're 65, social security, medicare, and medicare are not something to depend on for the 20 somethings of today.
  24. TimRacette
    Master the principles and your methodology on a small account first become increasing your size. If you trade too big to quick, you just end up throwing money down the toilet. As Trump and other millionaires/billionaires of the world always say, you're first million is the hardest.
  25. TimRacette
    As human's we are fascinated with the unpredictable, Black Swan theory.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.

  I accept