Professional Day Trading

[Tams 20]

Professional Day Trading and How to Win - The E=MC2 Method and the S&P E-Mini Market

 

Available on Amazon

 

"Finished the book and if I never make a trade using this method, the information you present is great. Have never seen the market as clearly as I do now..."

 

"One thing I like about the book is that you start from the high timeframes and work your way down to the trade. Exactly the opposite of what most of us do..."

 

"Of all the systems/methods I have bought, and believe me there have been many, this is the most well thought out method I have seen. Your book really does teach a "way to trade" instead of just a set of rules to mimic..."

 

"What impresses me about the book is how you have combined one simple screen full of charts to consistently and effectively build a framework of dynamic context within which to assess unfolding market conditions..."

 

"My account is up well over 30% since I began trading futures with the E=MC2 method. Thanks again and again. The fund I manage is also able to control risk better using your methods and trading SPY..."

 

Urma,

 

...

5. Finally, I actually came here at first to answer any and all questions,....

 

No you did not. You came here to push snake oil.

You have been banned from a number of forums, you are digging your hole here.

[Kiwi 16]

Tams,

 

Since when has being banned on other forums meant you were not welcome here. One of the posters in this thread comes to mind. There are a couple of other threads out there.

 

So, I reckon EMC2 has the same rights as the rest of the scum as long as he doesn't start hundreds of threads to promote his book and his ego.

 

 

 

EMC2,

 

Seeing Urma baby is just here to promote his own snake oil or his pathetic ego you probably couldn't get a good review out of him if your book was the next trading bible. A shame but it wouldn't happen.

 

Have a look at MM's thread of good posts and perhaps make the same offer to some of those people. They might be willing and unbiassed.

 

Good to see you stirring the pot here.

 

Cheers :applaud:

[EMC2Trader 10]

Kiwi,

 

Thanks for your support. I'm truly not here to stir pots, but I do understand how that happens. I'm simply trying to be very reasonable to defend some attacks, and of course that end ups being a catch-22 with regard to stirring the pot, which I'm trying to avoid. I get it.

 

I was hoping there would be an open mind to read the entire book, however, I can't force anyone to do this.

 

I was hoping one might recognize the value in areas such as:

 

1. Trend day determination and trading adjustments 2. How to define and look to trade in intraday chop 3. How to view opening gaps and first hour of trading 4. Price expectations using volume analysis via an understanding of patient/anxious buyers and sellers 5. Price expectations as it relates to acceptance/rejection of consolidation areas. 6. Realistic and unrealistic trading goals. 7. How this all ties together in actual trading with actual trading examples including account statement verification.

 

And then from here, come to a reasonable conclusion if this trading context that is laughable, or not?

 

I cannot force anyone to acknowledge the importance of these areas or any other area as they review content. In the end, I'll continue to maintain an optimistic view that in the end there will always be segment of fair people out there.

 

If one feels that that all of this is "out there on the internet" and then tied together from a trader's perspective, others can decide if this is the case or not. But what I know, is no one can dispute that this is all included in the material, whether you consider it meaningful, or not.

 

Also, while I can never, and "would never" try to force anyone to read a book, or even enjoy reading it, I feel I can at least try to satisfy anyone that feels like they've truly wasted money reading it. I don't think that point of view normally comes from a snake oil perspective.

 

In terms of Urma, I'll just say: If you happen to one day read the entire book, and see what I consider to be either a trend day, or a breakout from intraday chop, and then are patient to look to trade as suggested, you will likely make back the price of the book 10x over on one trade with one contract.

 

My hope, is that if nothing else, you will consider this a nice return on investment.

[UrmaBlume 10]

Steve,

 

By all means please send a copy to Kiwi - I would love to hear his opinion of your work.

 

For me, I thank you for the kind offer of volume II and I will PM you my address with the caution that I believe that I fully understand your approach and believe that what you consider to be so ground-breaking is already being done by many and being done with greater efficacy by other methods.

 

One of the tools we use to determine the condition of the market is shown below. It gives me net commercial buying and selling, the local velocity of trade, commercial cash being commited to the market, the time of day normalized percentage of normal balance/imbalance of trade, market bias in 7 time frames and specific buy, sell, scalp and stop prices in those same 7 time frames. This shot was taken during this early morning sell off. This app is not for sale or lease and is shown as an example of how some other operators do the same thing your method attempts. We wrote this app in C++, it receives its data via dll and is updated every tick.

 

 

 

UrmaBlume

[EMC2Trader 10]

Urma,

 

I am more than happy to send you Vol. 2 and will do so as promised.

 

I have seen your "Hi-Frequency Quant" tag from the beginning, and that's why I completely understand why my E=MC2 title would not meet your expectations in terms of "quant content per see", and I think you can see from the material I go in a different direction from a pure quant form of trading as I tie other elements in the mix.

 

I have no doubt the information you present is significant in terms of the way you trade. I also have doubt it could likely benefit me in ways as well. I don't have a pure quant back round, and yet have managed to ties things together to trade well too, and it's certainly not as simple as just price and moving averages.

 

I don't believe there is only one way to trade, or even necessarily one best way to trade.

 

Also, please let me be clear, in no way do I claim "to have discovered anything groundbreaking," and in no way do I claim to be a "better trader than anyone else."

 

Probably far from it.

 

My only claim is that after years of studying all types of approaches, I have synthesized things together in terms of a broad approach that now works for me, and may provide beneficial to others based on my experience of what works for me.

 

That's all. And I certainaly don't want to stir the pot beyond that. Life's too short.

 

So, it's within that context I would hope to be fairly judged.

 

Leaving town tommorrow so Happy Thanksgiving

[BlowFish 10]

I have it on order, should arrive in Europe this week I guess. Can't promise a review.

 

What interested me was the patient buyers patient sellers paradigm. It's a slight twist on looking at things from the point of view of aggressive buyers sellers, which seems the 'norm' (I guess EMC2 would call them anxious) . Uses similar metrics as far as I can tell (Utick vs Dtick rather than V@Bid vs V@Ask, same deal really).

 

I probably drink way too much mediocre tequila, strong beer and fine wine, all it will take is a couple of interesting pages to make it worthwhile.

[waveslider 10]

I will vouch for Steve. Anyone that has read the posts here will see something interesting - the way Steve handles criticism. That one thing tells me he is a good trader: he does not respond to emotional attacks with revenge.

 

How many of us have lost money on a trade and then take revenge (usually on our own account)?

 

I have Steve's course and I will tell you that the simplicity of his method is not amateur - it is elegance. It is certainly anything but snake oil.

 

A good trader doesn't need more than moving averages to give them a mechanical reference point. Steve takes these and offers entries that are appropriate for the market context dictated by the position of the moving average. Yes moving averages lag, and Hull, Jurik, T3 are way more high tech - - but it is what it is - - high tech indicators are just a manifestation of price action.

 

Steve has boiled everything down to the bare essentials - with anything more there is too much interpretation - something that we humans unleash our emotions and will on.

 

I would say that Steve's method is excellent for a discretionary trader- but I am not a discretionary trader. To be honest I couldn't make it as a discretionary trader, maybe someday I will, but until then I am with the weaklings like Urma Blume who rely on probabilities.

 

Honestly it's a lot less work to be mechanical, but if I had the discipline and calm required - there is no other way to be as flexible as the markets require than to use the brain over probabilities.

 

I have communicated with Steve, and I believe him to be honest and incredibly disciplined. For an example, look at the tradestation forum where he posted every day. When the market was volatile in 2008-2009 his results were unbelieveable. Mine were too following his method, but I kept breaking the rules. I ended up about breakeven using his methods, and not due to their validity, but to my own short comings.

 

I do well trading mechanically, that's how I make a living. Maybe someday I will have a "fun" account where profits don't matter. I would use an adaption of Steve's method if/when I do that. Self improvement is the greatest challenge trading offers.

 

Hope you sell lots of books Steve - if that's what you desire. I can't quite figure your motive out for working so hard - I admire it as long as you're not sacrificing something more important.

 

I always thought Kiwi was extra hard on UrmaBlume, but now I can see why. I have no affiliation with Steve or his books/courses - I'm writing to defend someone I believe is honest and who offers valuable instruction.