Trading Tip #13: How to Pick Intraday Market Direction – the 80% Rule

[carrotinvestment 10]

The above defined rule is not bad ,but its accuracy can be determine after its adoption

[slick60 10]

My oh my oh my! I just joined TL and read this thread. Must say that I did get a number of laughs reading all the bickering back and forth. Knocking a man like Larry Levin and his secret system trades. Well did you ever?

I can speak about Larry Levin's firm. They are ONE BIG PAIN IN THE ASS!!!! I cannot believe the nerve and ignorance of them to continually hound you with their boiler maker tactics once they have your telephone number. I notice a freebie promotion from Larry Levin when I joined here a short while ago. I will go on record here and now that should I receive one phone call from that firm in the near future I will not be very nice to whomever is on the other end.

So Larry if you get my phone number from this site please take and shove it and I will no longer be a registered member within TL.

I look forward to being a member on these forums and feel I may have a lot to offer. Thanks to everyone................

 

Slick

[Stiffroot 10]

I have gone thru Larry Levins course with Patrick Assalone and I am doing just fine! The important thing I learned was when NOT to trade! That you need a lot of patience and it is NOT for everyone! It is a new way of learning and you have to leave your baggage that you have learned previously at the door. People with the most experience do the worst as they WON'T forget what they learned. It is very hard to do. The people that have little or NO former training tend to do much better. Like anything, it is not for everyone, but it turned my life around and I am very happy where I am now, thx to Larry and Patrick.

Patrick is very vain, a loud mouth and obnoxious, but for me, an excellent teacher as I have been called worse myself! The camaraderie in our trading rooms and help from everyone is second to none! As a disclaimer, I am a graduate and it was the best thing I could have done. Once again, its NOT for everyone and it is NOT easy!

[joshdance 10]

I have gone thru Larry Levins course with Patrick Assalone and I am doing just fine! The important thing I learned was when NOT to trade! That you need a lot of patience and it is NOT for everyone! It is a new way of learning and you have to leave your baggage that you have learned previously at the door. People with the most experience do the worst as they WON'T forget what they learned. It is very hard to do. The people that have little or NO former training tend to do much better. Like anything, it is not for everyone, but it turned my life around and I am very happy where I am now, thx to Larry and Patrick.

Patrick is very vain, a loud mouth and obnoxious, but for me, an excellent teacher as I have been called worse myself! The camaraderie in our trading rooms and help from everyone is second to none! As a disclaimer, I am a graduate and it was the best thing I could have done. Once again, its NOT for everyone and it is NOT easy!

 

2 months ago (your first post of 4 total) you had not even used a futures trading platform, and now your life is changed?

 

 

I noticed people in here naming trading platforms for Futures like IB and more. As a beginner I have looked around at Think or Swim, IB and came across Kingsview. Anyone have any ideas on which platform is best for the beginner with around $10 to start on? You all seem to be much more knowledgeable than myself. Hoping to catch up....

[slick60 10]

I have gone thru Larry Levins course with Patrick Assalone and I am doing just fine! The important thing I learned was when NOT to trade! That you need a lot of patience and it is NOT for everyone! It is a new way of learning and you have to leave your baggage that you have learned previously at the door. People with the most experience do the worst as they WON'T forget what they learned. It is very hard to do. The people that have little or NO former training tend to do much better. Like anything, it is not for everyone, but it turned my life around and I am very happy where I am now, thx to Larry and Patrick.

Patrick is very vain, a loud mouth and obnoxious, but for me, an excellent teacher as I have been called worse myself! The camaraderie in our trading rooms and help from everyone is second to none! As a disclaimer, I am a graduate and it was the best thing I could have done. Once again, its NOT for everyone and it is NOT easy!

 

Stiffy

I wish you all the best in the world because you will need it. I must be one of those guys in the "worst" category. I don't like telemarketers either. Sounds like Patrick and I might be a little bit alike. Sounds like you are with the right group. Good luck to you.

 

slick

[sebastian869 10]

correct it works about 80% of the time but u have to look at mkt in the 5-10 day and see where u are in the trend to be a good guide as to will it fail or not. (dont forget the a/d line for nyse and Qs)

[SpearPointTrader 10]

The 80% rule is so outdated. It belongs on the same page as the moving average cross-over.

 

If trading was this simple do you think Investment Banks would be paying quants >100k pa to come up with codes. Indeed many Banks ask for Phd's from TOP universities.

 

If only they knew the 80% rule!

 

I await the next 'Secret trading tip technique'... what will it be? One time framing... If you see lower highs & lower lows then you're in a downtrend? No Sh*t Sherlock.

 

 

Just for the record, there is no day to day correlation in markets, just cos its up today, don't mean its gonna be up tomorrow. All a Day TPO value area will tell you is what happened yesterday.

 

If Larry's Tips n Tricks worked that well, do you think he'd be giving them away in order to entice hapless trainees?

 

VT

 

Actually, trading is this simple.

 

The way I see it, there are a good number of reoccurring sets of market conditions. These produce the same set ups, over, and over again. All one really needs to do is learn to find them, and trade the patterns they form.

 

Most winning patterns are good 50, to maybe 80% of the time. It's the times they aren't working that messes everyone up and throws people off their game.

 

The emotional stuff that occurs in trading is much more difficult to manage than the technical aspect. Learning the right balance of detachment, and focus is what separates the men, from the boys in this game.

[SunTrader 10]

What's in a name?.....

I've seen Mitsu changed into many variations. I'll spare you - its not pretty

 

You should have spared us your useless rant.

[SunTrader 10]

Nah,go for it.I'll go first......bumtrader

Actually I'll just let your posts speak for themselves - which probably also speaks for how your trading is going.

[Patuca 13]

 

Any of us that can make that claim? All together now: I don't think so.

did you get any harmony on the all together response?..

[tommyho 10]

I like this. I see what the one person said about it being for "sideways" movement. Sell high , buy low.