wrbtrader

Thanks for the recommendation...I never heard of this FUZE before until now. Did some research and I like this application a lot especially considering I'm currently looking to purchase an iPad for use as a collaboration tool with family/friends (there spread around the world and using different communication devices) and business associates. FUZE seems to be able to communicate with others using different devices/application...that's a big plus to me. Fuze Meeting - Web Conferencing Software [ame=http://www.youtube.com/watch?v=3-1ZkEBPAcE]Fuze Meeting iPad Demo - YouTube[/ame] [ame=http://www.youtube.com/watch?v=ZXwbkrkUvXc]Fuze Meeting with Multi-Party HD Video Conferencing - YouTube[/ame] [ame=http://www.youtube.com/watch?v=BnsMTg5FZvI]Fuze Meeting Tutorial - Recording a Meeting - YouTube[/ame]

Hi, How do you and others manage the skype room if many are talking at the "same time" especially when members may be calling out trades in real-time at the "same time" but in opposite direction of each other (e.g. trader A say he's Long and trader B says he's Short). ??? Will there be a "verification" of profitability to get into the skype room or will all take each other's word that they are profitable ? Will there be a "verification" of trades at the end of the trading day ?

It's simple...add only when you get another valid trade signal and manage each add independently. Also, only add to profitable positions. Further, if you're a consistently profitable trader...you can add to a losing position but the add must have been planned at a specific price prior to the trade entry.

It could be like that in that it involves anything on your typical international economic calendar like what you would see @ Forex Calendar @ Forex Factory, any FED/ECB/IMF event that's being watched by key market participants that's not on your typical international economic calendar, any breaking news or new announcements involving global crisis, technically (not news related) as a reaction to the price actions in correlated markets...any thing that catches the attention of key market participants. All of these structural references (market context) can occur different times (not at the same time) throughout any given trading day...causing strong continuation price actions, swing points, trends, trend reversals and even low volatility/low volume tight trading ranges. Yet, I don't recommend trying to predict a particular price direction. Instead, market the X on your chart or bid/ask/time & sales quote screen that represents these structural references sort'uv speak and then wait/watch how price behaves (reacts) when it returns to the area of the X.

The one thing you need to be careful with structural reference (market context) is to not use one event only when there are other structural reference (market context) appearing later. Simply, its very common to have several structural references (market contexts) occurring in the same trading day. Therefore, don't get tunnel vision on one structural reference when there will be others occurring in the same day especially when key market participants consider the same.

There are several decent books on the topic at Amazon or your local library on the topic of "trader taxes". You can also make an appointment to see a tax accountant or IRS representative. Yet, don't make an appointment to see a tax accountant or IRS rep until you've read up on the topic of trader taxes so that you will be prepare to ask them specific questions that may deal with situations you're personally involved in.

You serious...most here at Traderslaboratory that have given one piece of advice involving trading are being paid by brokers. How much do you think most here at Traderslaboratory are being paid...hourly or salary ? There any dental/medical benefits ? :rofl:

Hi Carlton, Most data providers have data pauses (stalls) due to bandwidth issues many times per trading day. These pauses or bottleneck of the data can last a few seconds. In addition, there's the issue of such occurring several times per day due to issues with the ISP. Thus, with the combination of these data pauses occurring via data providers, ISP or computer issues...how will you be able to determine if it's a real price pause or an data stall via your data provider, ISP or computer connection.

Hi, Why do you want "new friends" ? Have you tried joining many of the known social networks (facebook, myspace, twitter and so on) ?

Hi, Anybody can trade part-time with a small trading account if that's what you're asking. Yet, most will not be profitable regardless if they do it part-time or full-time. Simply, yes anybody can start trading but only a few will be able to do it profitably. As for the question if trading is a business...the answer should be obvious. If you're profitable, its your sole source of income, pays your bills, you pay taxes along with doing other things like any other business (e.g. business account with the bank)... Trading is a business (trading for a living). In fact, if you've had prior successful entrepreneur experience in another profession, odds are high that you're going to approach your trading from the business side. Thus, if trading is just a part-time gig and/or not your sole source of income, its not a business. Yeah, most retail traders "lack" the same environment that professional traders have but that can be fixed if the retail trader forms the same environment with other retail traders. Yet, most (not all) retail traders prefer the "lone soldier" environment instead of approaching it like most professional traders. By the way, I think its funny that some (not most) retail traders wish they were in a professional trading environment and most (not few) professional traders wish they were in a retail trader environment. :doh:

Hi, Although the books do not teach you how to trade Japanese Candlestick patterns nor should they be used as such, they are an excellent reference (dictionary) of Japanese Candlestick patterns to help you with proper identification of candlestick patterns. Thus, they had a positive effect on my trading because I was able to properly identify candlestick patterns regardless if the pattern was reliable or not. Simply, I no longer get the names of the candlestick patterns mixed up. Therefore, they are worth the read for those new to Japanese Candlestick patterns that do not want to make mistakes like calling a pattern an engulfing when in reality it is not engulfing.

For the past 15 years I've referred to this as "market context" after many initial talks with institutional traders that are close personal friends. I've also discussed a few in-depth examples of market context here at TL in the Japanese Candlestick threads when someone didn't understand the importance of such prior to the appearance of candlestick patterns or any other type of trade signal. Simply, strongly agree with you and its a shame that most retail traders don't agree with such. Thus, if we don't understand the market context or as you referred to it as structural references...we should remain on the sidelines.

The simple rule is to pull up the chart of your trading instrument and monitor (learn) which key market events creates volatility. Simply, its also dependent upon what you're trading. Thus, treasury futures traders will see particular events more important than some events that's important to oil futures traders. Anyways, pull up your chart and compare the release times to get the best answer for yourself. Also, below are calendars that I find extremely useful for trading. Forex Calendar @ Forex Factory 2011 Economic Calendar FRB: What's Next ECB: European Central Bank home page

I think the obvious solution would be for the broker to send the performance results from the side of the broker that's linked to Opentrader instead of Opentrader retrieving the info from their side of the connection. Thus, prevents Opentrader from having access to the trader's passwords, "verification questions," other required security keys. Simply, Opentrader will only have access to the account number and possibly user name. The performance record for purpose of transparency, legitimacy, benchmarking can be accomplished even if the broker only sends the info when the markets have closed or at a set time period at night considering Opentrader is not trying to be a real-time middle man of trades. In fact, I'm very curious why Opentrader didn't approach this from the side of the broker sending the info instead of from the side of Opentrader retrieving the info. :doh:

Yeah, I noticed the demand by bomberone1 that request you to make a video. Heck, someone may have already done a video and posted it online. Therefore, my recommendation to bomberone1 is to research Google, Youtube, Multicharts forum, Easylanguage forum to see if there's already an existing video or step by step explanation for doing such on his own.

Seriously, that must be sarcasm by you because just mentioning that you would do such for a fee would get you on the TL Vendor List even if he's the only client you ever get or never get a client. Therefore, I do understand the point you're making is that its "your work" that required lots of "your time and energy" to create. Therefore, it has a value and that you do not want to share it with someone freely if they seem like someone that has not done the work and the way he's asked for the video may seem "demanding". Thus, prompting your reply to encourage him to walk the automation path on his own after you've given him tips on where to start (e.g. Google for the free book on easylanguage). Please clarify if I'm wrong.

In the past few years I've been hearing more about hackers breaking into different companies to steal confidential information like account numbers, passwords, financial data, personal data on the clients of the company that got hack (Google, Sony, Worldpress, Epsilon, RSA, Voice of America and countless others that includes security firms themselves like HBGary and EMC) in 2011 alone. The scary issue is the info stolen was on individuals and other businesses these hacked companies had as customers. It's also a known fact in the security industry or hacker industry depending upon how you look at it that most folks (individuals) use the same user name, same password or "similar like" password, same verification questions and so on at other sites due to habit. For examples, a few of the well known companies hacked in 2011, many of the individuals using those companies saw unauthorized access to their other accounts elsewhere that had nothing to do with the company that got hacked. Simply, this company (Opentrader.com) will have access to more than just your broker account from the perspective of anyone that may want to hack them because the hacker understands that most individuals are of habit. By the way, those SSL GlobalSign and TRUSTe privacy certificates you see at the bottom of sites that say they are secured...some of the companies that issue those have had their own security problems in the past too. :doh: Yep, I share the same sentiment as others. There's other ways you can verify someone's trading performance without that person coughing up their account numbers, user names, passwords, "verification questions," other required security keys, etc. that your broker has with you.

I'm a strong believer that to be a consistent profitable trader we need to play both sides to understand and exploit the weakness of either. Further, to get to the point of being a consistent profitable trader along with being such for several years, the trader has developed a strong understanding of the price action so that being able to "switch seamlessly from one mindset to another" is not difficult. In contrast, it may be more difficult for someone that's profitable but doesn't have enough trading experience to make the change (switch) or adapt when market conditions change. I myself like to trade volatile range price action but I made great improvements as a range trader when I learned how to recognize and trade trends or strong directional price actions.

You should begin with determining the stats of the following questions to help adapt/modify your trade management after entry considering you seem to have a question about if you're leaving too much money on the table...if so...how to fix it. What's the % of your trades you've reached a profit target ? What's the % of your trades that have continue going in the direction of your trade after you've exited the position ? What's the % of your trades that resulted in your profitable trailing stop being hit...if using trailing stops ? What's the average ticks/pips per winner versus ticks/pips per loser ? My point is that if you want to leave LESS money on the table...you obviously need to improve your trade management after entry and it starts via knowing as much info as possible about how you're managing your trades after entry and the results of such trade management.

Hi, If someone is counting how many times their internet connection goes down per day...something is seriously wrong with their computer system or ISP. More importantly, they shouldn't be trading until the issues get resolved. As for myself, I have connection problems while trading about once per month that may last 1 - 2 minutes. To me, that's acceptable. In addition, I will go as far to say that if someone is considering trading for a living, they should do an in-depth research into the best places to live in their surrounding area (city, state or country) that has the best internet connections. Simply, if someone wants to trade for a living and they discover they live in an area where there are too many consistent problems due to the fault of the ISP...you need to move.

Hi Carlton, Whom is your current data vendor ? You going to plug times & sales info excel or a charting program ? Also, have you started doing live recordings of the bid/ask and time & sales info ? By the way, whom ever you're currently using, make sure you start downloading/accumulating your own times & sales data on several trade instruments besides just mini-sized Dow YM futures just in case you decide at a later data you're interested in a different trading instrument.

If I didn't know anything about what had occurred in this thread and had saw your post above as the very second read to someone's opening statement in a thread about vendors...I would have thought you were a vendor with that statement and that blowfish was the vendor basher. :rofl: Also, the above quote from the thread starter/moderator MadMarketScientist reveals many things about nature or character of this thread which leads me to say that it's threads like this that eventually becomes an eye sore for the community considering an "Official List" can easily be maintained by TL management itself (not by a member) that doesn't allows replies...similar to other forums. Simply, names can easily be added to the list via members sending private messages to MMS with proof that a user name is a vendor. Thus, the community gets its transparency without the bickering and pissing competitions like this that slowly drives away away members to other places online. I've now made my recommendations publicly and privately to MMS...he now has the ball and I'm curious to see what he does to fix things that's obviously still problematic for all members. Take care all and my last post in this thread. Good trading to all.

This is very true because I've lived in Chicago and traded the Eminis from the home of a relative that lives on Lake Short drive...I had consistent data stalls even though the CME and CBOT are located in Chicago. In contrast, when I lived in Seattle Washington, while using a different broker and different ISP via the exact same computer...rarely did I have connection problems and I had a much better (low) lag/latency in Seattle in comparison to the results in Chicago. My point is that good or poor connection can be due to a variety reasons. Thus, it's not always the brokers fault for bad trades.

Is that info you posted related to your broker server, location of the city where your trading instruments exchange is at or just a connection test of the nearest server your ISP has to you ?

First, it does matter to me if someone implies that I've advertised here while seeming too stubborn to read ones posting history. Like I said, this place isn't my cup of tea and you shouldn't react as if you're offended by that fact that deals with a personal reason (already disclosed) and business reasons that will only be disclosed to MMS in private if info is requested by him. I use the word implied very strongly based upon your own words like "never again" as if there had been advertising when in fact there never was nor will there ever be. That's a problem and I'll continue questioning your agenda whenever you use words like such under your facade of helping the community. Secondly, you seem to forget that I volunteer my status. Therefore, I have no fear of the label in comparison to many members at Traderslaboratory that are vendors (my count is now up to 23 members) and not on your list. Simply, don't imply nor state for fact that you are helping me when in fact the info was given by me long before you were a member of Traderslabortory. In reality, I've helped you via giving you updated (correct info), voluntarily being transparent along with notifying you and others (including MMS) there are reasons why some vendors do not market themselves here at TL. Anyways, I'll no longer bother you about that because I think I've been very clear now. I'm no more upset that you appreciate the community than you are upset that I don't advertise myself here at TL in respect for the TOU policy and my respect for the community. Just remember this...we (you and I) are part of the community. If we don't get along and the same with others, there's really no community worth visiting because its just a pissing match as noted by many value members (non vendors) that no longer visit TL. Thus, it's really not about vendors that's driving away members from the community and that's an entirely different cup of tea involving non vendors in the community. :helloooo: