darthtrader

Jerry, I'm a little confused by this part. Maybe it would have to do with going reverse on the trade but say in that example you had waited until price had gone back to the wvap to even start the trade. Wouldn't you have not scaled in at the vwap and put on your full risk tolerance right away since that will be the highest probability trade you can get? I also don't see where above the wvap you would even want to scale in since if price had gone up to the pvp would'nt you have used that as your system stop?

Reaver, I can maybe give you an interesting perspective as i'm not full time yet, actually i'm going broke right now. I thought about going to school to become a nurse so I could get a job off market hours to fund my account last year but that was absurd. Then I stopped working in jan, went back to school to get a degree in economics so that i could be a broker/financial advisor to eventually work up to trading full time. My courses were a disgrace compared to what i learned on my own. I finally said screw it, i'm all in, trader or poverty. I just emptied my stock account to buy a cheap house, looking for a shit second shift job that i can save, get expenses down to nothing then save a grub stake. maybe it takes 3 or 4 grubstakes before i stop ever working but if this is your life there is no option. Brownsfan's little "treat trading like a business and it will pay you like a business...treat trading like a hobby...." This is such a tough business to break into, the idea you don't go all in and bet your life doesn't make any sense.

ohh...jerry and dogpile going at it with vwap, this could be the best thread ever. dogpile, any chance you could do some videos like jerry has done? Simple stuff starting out? I would kill to know how you trade. I mean even like a "coil" makes sense seeing it on a chart in retrospect but in real time would be so much more educational.

here is 40yo guy doing the workout. this is what inspired me. this guy is in incredible shape to be able to do the whole workout. http://youtube.com/watch?v=ChCDGmKtHJw

exercise without a doubt IMO. I just started doing bas rutten's all around mma workout from his cd. if your bored with your current workout check it out. most brutal workout possible, its 28 minutes, my best so far is 10 minutes then i can't breathe or feel my legs. I use to be a powerlifter in highschool/college but nothing is harder than this stuff. Its great to have metrics too since i know once i can do the full 28 minutes at proper intensity....stress? yea right....walking will be more the issue. I just try to go farther in the workout every time.

Very interesting on many levels. I take it you focus on ER2 now because of volatility? another thing is how would you order these contracts as far as what to look at as a newb for setups? the most interesting thing about your threads is every time its the total opposite of what i would do off the cuff. With that in mind I would think you would order them... ER2, ES, NQ, YM, ZC as far as what to look at first?

hey brownsfan, first, i'm totally sold on the product. If i were you I would go for it in a second because the % cost of your pnl month to month is going to be nothing. Every usefull trader tool besides this website has not been worth the % cost of my pnl that i've found though. Maybe that line of thinking is a mistake but its hard to shell out that much up front with total certainty month to month. To me this tool is much different though as the most utility will be gained from super newbs and then fade out as trading experience is gained. I think it would be a smart move to have the "newbie blowout traderdna limited time special" business wise, link it to this website even. Unless its absurdly cheap(not worth traderdna's time) I don't see how you and I can be paying the same price from a value perspective.

Hey James, can you get into what you have planned with the tradersdna button at the top? Did they ever give a price for it? I think it sounds like a fantastic tool. I think the problem is going to be for me that as a small newb pit noise and market delta are also tools I would love to have but at 300 a month each its not happening. I wonder if they would be open to giving a bigger discount based on account/how big(small) you trade?

Hmm..i'll have to look closer. i basically couldnt find the click through info for my account to paste into the review after logging into amZn the second time.

Hey Jerry, can you look at corn? Corn traded 100k contracts today, beans/wheat were much less. I don't think gold trades enough to get a good sample. Do you get that many different vwap setups on the russel vs ym? I'm not familiar with the russel really to know how correlated it is vs ym. maybe just watching corn/russel/ym would be a good start.

hey James, I'm sure you have been through this already. I followed your nice instructions on my first book review but now i'm lost as far as doing another one. There are a few more trader/finance books not in the section that I would like to do a review of for the section but I'm totally lost now logging in and what to do now. i'm sure its not hard, can you add to that post you made for creating an account, basically a pt 2 once your account is done? nate

Just to add, I've always found great inspiration from the great misers from market history if its hard to seperate money from trading. Niederhoffer I think gets into this in one of his books or on daily speculations. John Paul Getty was the world's richest man in the 50s, but I think I read a story where he was on a date at an ice skating rink and spent an exta half hour in a line in order to save 10 cents. In today's dollars i think that would be basically being a billionaire and waiting in line to save 1 dollar. Hetty Green was the world's richest woman at one point basically. "Green was mainly interested in business, and there are many tales (of various degrees of accuracy) about her stinginess. She never turned on the heat nor used hot water." http://en.wikipedia.org/wiki/Hetty_Green

out of curiosity and with something you posted in these threads about stops...if price in that video had actually gone back to the vwap would you have added to your short position if all else stayed the same since probability would have even been more in your favor compared to your entry?

i just watched the john carter webinar that was recommended in one of the ag threads on here and a blurb he said thats a joke with traders is "if you can't make money trading, trade corn". if you want to day trade the ags are there any intraday reports that come out during the trading day to be aware of?

congrats newbie;) not much to add, I love how your building on each idea in the videos. one thing, If you were starting over as a trader would you just watch 3 or 4 markets with less correlation (ym, gold/silver, ags) and then only take trades at vwap and 1st std dev? that should give more than enough opportunity I would think?

this could be a really interesting discussion. i only got into level II once the idea was there would be so many fake outs that its worthless information, i've read you use to be able to scalp level II direct but the market adjusted. From watching level II, to me it seems traders have over done it as far as this information goes. I really don't see the ratio of block orders to fake outs ever even being close. To me it seems like you use to be able to front run the big boys 10 years ago, they closed that gap but that doesn't mean this market info is useless. The big boys are still going to float limit orders, they are not just going to throw up huge market orders on the tape. To me thats where volume delta comes in, what is being hit market order wise.

James, can you give us some hint what you plan to have going on with traderdna with the toolbar heading? Will that be linked to the blog section somehow? that would be perfection. nate

I see neo is pretty expensive. I'm also mostly interested in discretionary trading. I see you can program tradestation, I guess there is just something "cool" about what you can do with neo but i'm going to forget about it for now as its a waste of time for my current goals. Have you ever done any valuation modelling in TS fundy wise? I had started to look away from TS then found the fantastic number of params you can screen right into a balance sheet with. Kind of suprised more people don't use TS for that.

haha, nice...cha ching. when your done with this thread you really need to consider the value of someone who would travel an hour to make your coffee, do your laundry and walk the dog in exchange for watching you trade Dogpile, as someone who is trying to learn from Dalton basically at the same time as seeing this information I would be interested in what you think are the benefits of viewing TPO's vs this way of thinking. Honestly, I don't get it at all. Why a half hour vs 29 minutes? I think Nick pointed out in a response that Steidlmayer probly chose that because of computational concerns 20 years ago. Now that I'm starting to get this stuff, Mind Over Markets seems like a waste of time.

haha, interesting thread.... I think there is a guy on elitetrader, "stonedtrader" that claims to trade stoned. I have'nt smoked pot in 10 years but I remember my best online chess games were after I smoked back then. The whole pattern of the way the board was developing just seemed to be in slow motion and the moves were obvious. Maybe i'll do an experiment 10 years from now when I'm a good trader with money to burn in a small account. I doubt that would work though, if anything I would think you would end up over trading.

James, you should check out that Linda Rashke cbot webinar that dogpile was refering too, its really good. The cool thing about setting a target at 1 or .5 atr is the target will be dynamic with the market conditions as opposed to just an arbitrary number. She also says to immediatly put in an offer at a limit of 1-.5 atr to take some the emotion out. When you can put on more contracts scaling will take care of alot too as mentioned. To me you just have to look at today how a momentum player would view a range bound choppy market, it just wasnt your optimal market strategy wise but 100 points, kick ass I imagine once you trade for 20 years there would have been clues today to move to a higher time frame and just ride the trend but I don't see how making that switch can be done without just alot of market experience.

Steenbarger has been posting that tick is more negatively skewed now since the uptick rule has been done away with. has anyone else noticed this? I haven't used tick long enough to be able to make that judgement. http://www.traderfeed.blogspot.com/

Jerry, with what you have shown so far I take that you would trade a super strong trend day different? Watching the diamonds today it didnt seem like there would have been a chance for NEWBIE to take a trade with whe he knows so far with how much price was tanking? It was pretty cool to see pvp change though,go below vwap, skew change right basically at the low of the day.

Looking at this thread now makes me feel good because I'm learning. In all honesty, everyone that replied to this 2 months ago went way over my head :rolleyes: I actually get what you guys were talking about now from reading this board and Dalton now. Marketdelta is out of the picture for good, its just way overpriced. I just watched all the videos they have again this weekend and noticed the cumulative delta +/- per bar I think could make for an interesting indicator if you wanted to guage the trend as far as what is being hit bid/ask with market orders and lifting or lowering price, that could be some usefull info large trader wise. Blowfish, I had no idea what you were talking about with neoticker and building the delta of the underlying(from the book no less) when I first read it but damn....thats intense.... Is neoticker's language hard to learn? Right before I found this board I had gone through pretty much every piece of software and mentally grouped neoticker with openquant but now that I know a bit more I see its not that unattainable.

another great video Jerry. Unleashed, funny thing with what you mentioned because I had the same first instinct as a newb. Its interesting if you compare that to market profile too because wouldnt that basically be like trading the value low pivot in mp if you went with that lower std dev instead of waiting? also, I would think with any package that has vwap and a scripting language that it shouldn't be to hard to gut bollinger band code to get vwap std dev. Even if the package didn't have a std dev function the math would all be done in the bb indicator. You would just have to swap vwap for the ema and kill the back lookup period.