Trading Platforms

This is a discussion on Trading Platforms within the Techies Corner forums, part of the Trading Career category; It seems to me that to many people are dreamers.I dont need any fancy theorising,i definately dont need any late ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Nov 24, 2001, 5:14pm   #15
Naz
 
Naz's Avatar
Joined Sep 2001
It seems to me that to many people are dreamers.I dont need any fancy theorising,i definately dont need any late actioning t/a indicators .Give me a level 2 Nasdaq screen and i know whats REALY happening.

I,m sure that Goldman,Morgan Stanley and the rest are not waiting to see where the bollinger bands are or any other fancy pants stuff is before they start moving the stock.

Last edited by Naz; Nov 24, 2001 at 5:26pm.
Naz is offline Coach/Trainer   Reply With Quote
Old Nov 24, 2001, 5:22pm   #16
 
TraderPattern's Avatar
Joined Oct 2001
Exactly! I would rather be the doing the same thing as Goldman i.e. taking the OPPOSITE side of a quantum mechanic PhD with a sophisticated technical indicator. Bollinger bands, stochastics and such like are merely aberrations of reality. I am VERY happy that people continue to rely on technical indicators, cos it makes it so much easier for me to treat the market as an ATM machine giving away free money. Long live technical analysis!... without it I would have fewer people to make a living off.
__________________
Don't personalise the market
TraderPattern is offline   Reply With Quote
Old Nov 24, 2001, 5:35pm   #17
Naz
 
Naz's Avatar
Joined Sep 2001
You and i are going to get in trouble.I can see loads of t/a traders wanting to start posting replys to our chat.

I would say that i've always find it remarkable when i talk to t/a traders,they all seem to want to enter a stock late when the move is over and the market makers are either selling to them or buying from them.

Last edited by Naz; Nov 24, 2001 at 5:37pm.
Naz is offline Coach/Trainer   Reply With Quote
Old Nov 24, 2001, 5:38pm   #18
 
TraderPattern's Avatar
Joined Oct 2001
Yes, simple TA (things like where prices have been congested for a while and things like daily levels) are useful... but like you said they are useful not to make money off directly but to see if T/A traders can be exploited for profit at those T/A-related prices.

You and I ARE probably using simple TA in our decisions... i.e. it is nice to look at a chart of the futures or of the stock to put the current market maker action in some context. Example: if we've been monitoring the market makers all day and have deduced that NITE is the Ax, then a near term historical feel for how prices have reacted to NITE's manipulations is definitely useful.... sometimes if I forgot what the recent reaction was to the Ax, looking at the chart will remind me. Now if the Ax is doing the same exact thing again, then I will have a feel for the potential of the move BEFORE the move occurs ... the chart as of now may not look like a buy (indeed the chart as of NOW may look totally CRAP), but if the Ax is behaving in a way that I have previously observed, I will think to myself "screw what the chart looks like right now and just buy the godamn stock!" ... so T/A I suppose has a subtle role to play BUT not in the conventional way T/A players would use it... it can give me a feel for the potential of a move before there is ANY chart indication that a move is about to occur. I am only using a chart to gauge movement potential... I am using level2 to make 90% of my decision off.

But trading off T/A studies is something I could not do. T/A is literally history ... put a historian against me anyday! I will take his money with pleasure.
__________________
Don't personalise the market

Last edited by TraderPattern; Nov 24, 2001 at 6:06pm.
TraderPattern is offline   Reply With Quote
Old Nov 24, 2001, 5:59pm   #19
Naz
 
Naz's Avatar
Joined Sep 2001
Yes i realy like trading off t/a levels becuase i know i can read their mind.I know if A B or C happens they will enter or exit the market.So because i can see the true market and its possibilities and they cant i like to get in before them.When they enter after their indicators confirm the move i then sell to them.

The trouble with t/a its almost like a system that says if this happens you do this.If everyone knows your system other players can take the opposite view.Thats why many times the ax will sit underneath a support level and when it breaks down he knows that it will hit many t/a players stops and they will panic and sell out.Because i can see him there and see him buying everything i can jump in as well.Then of course up we go.

Nice chatting with you but i've got to go.See ya
Naz is offline Coach/Trainer   Reply With Quote
Old Nov 24, 2001, 6:12pm   #20
 
TraderPattern's Avatar
Joined Oct 2001
Likewise, nice chatting with you too Naz. Have a good remaining weekend... dammit, I wish we didn't have weekends... I am itching to get back to the game!
__________________
Don't personalise the market
TraderPattern is offline   Reply With Quote
Old Nov 24, 2001, 6:57pm   #21
 
6 Posts
Joined Feb 2001
Well you two smart guys, hear this.
I use TA before I open a trade and during the time the trade is open and I will continue to do so.
I do not use Level 2 and have no plans to use it in the future.
I have consistently made an average return on capital of 1.5% per day swing trading the FTSE 100 over the last seven years of full time trading.
Just shows boys & girls that there is more than one way to skin a cat.
All the best
Stone
stone is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading platforms for Mac superstag Trading Software 5 Feb 6, 2009 12:56pm
Trading platforms ketank Trading Software 16 May 29, 2007 8:43pm
Trading platforms GengstaTrejder Forex 4 May 31, 2006 11:16am
Trading platforms - software v's web-browser based platforms JTrader Trading Software 4 Aug 19, 2005 10:08am
Cheapest trading platforms? Traderuk Trading Software 4 Jul 22, 2005 10:19pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)