If you want to fail as a trader, study TA

[maiden22]

NR, when you have had the privilege to work with traders that have made MILLIONS trading, and jest I not, you whole outlook on trading changes forever


TE

Repent, oh thou who dost doubt the mighty TEH SEXPEST!

For verily he hath worked with traders who make even unto millions!

TEH SEXPEST has thereby learnt much valuable information.

If he has worked with such traders, he will know well how they like their coffee, for example.

 

[Mysteron]

HD is fine, we waited for The Generals to show their hand and then bought as the "sell at resistance" boys loaded up

Do what everyone else does and you will get what everyone else getscheesy:

The last one is hard and will require some lateral thinking:idea:

TE

I got a pdf file from another trading site a while ago which described volume spread analysis. It referred to "Smart Money" and "Composite Operator" and the need to follow the Smart Money by looking for it's footsteps in volume and act as a predator against the retail investor herd. It seems to me that you advocate a similar view (i.e. follow The Money) except that you don't use volume. So how do you know when "The Generals" or "Smart Money" or whatever term you wish to use, is acting and showing it's hand?

BTW I think your views are very refreshing

 

[The Expert]

TE claims to have used a 30c stop on a swing trade that looks like it lasted ball-park 4 days. Judging by the last time it struggled sideways, just a few days earlier, it gapped down about a dollar which would have made a 30c stop appear like a bargain.

The claimed $600 risk could have easily been $2000 but with such a beaten down stock, why bother because with an entry of $3.75 on 2K shares the ultimate risk is $7500 and its more of an outright punter's buy than a trade.

I feel sure that you are aware that what is being proposed by TE is usually called "catching a falling knife" and is certainly not for those wishing to protect their stake money. Sure sometimes you get lucky and if the rumour mill is working in a punter's favour, a quick time window opens to rush through the exit door. Many beaten down stocks eventually end up going out the exit door but not until the rumour mongers have milked some speculative cash.

I have seen nothing from him that has changed my early opinion and the cautionary label is "for amusement purposes only".

AGAIN, you clearly demonstrate your very limited knowledge of the markets and individual stock behavior

Keep showing how much YOU are not like The Expert

:smart:TE:smart:

 

[The Expert]

Priceless.

Here's the respect you deserve:

Are YOU that idiot sitting on the couch with those stupid pictures all around

:smart:TE:smart:

 

[The Expert]

Not so nice of you mr. Maiden22.... As I may quote Morrisey (The Smiths) It takes strenght to be gentle and kind!......I think Mr Expert dropped some very valuable items, such as the range being valuable. Never heard of it before, nor read it anywhere....... up until now. I suggest we should also add a selection whether to only screen for stocks with high percentage daily moves after the open, or a minor difference from opening prices?

Mr. Expert; i thought the password should be: time efficiency, instead of the other one already .publicated.

GR, you are beginning to see why so many fail at trying to make money trading, and, the MAIN reason is listening to idiots on websites who go around with silly stupid persona's, thinking they know something, when, clearly demonstrating they know nothing by what they postcheesy:

If you think that TA is the way to make money, then, ask yourself one simple question, and that is, WHY do so many fail with all the INFORMATION that is is READILY available

As I keep saying, do what everyone else does and you will get what everyone else gets

BTW, thank you for the support, as it shows up the other idiots who think they actually know something about trading:clap:

TE

 

[The Expert]

Repent, oh thou who dost doubt the mighty TEH SEXPEST!

For verily he hath worked with traders who make even unto millions!

TEH SEXPEST has thereby learnt much valuable information.

If he has worked with such traders, he will know well how they like their coffee, for example.

Go away you insignificant other, and get your hair cut, for, it is obvious that it is in your eyes all of the time

:smart:TE:smart:

 

[The Expert]

I got a pdf file from another trading site a while ago which described volume spread analysis. It referred to "Smart Money" and "Composite Operator" and the need to follow the Smart Money by looking for it's footsteps in volume and act as a predator against the retail investor herd. It seems to me that you advocate a similar view (i.e. follow The Money) except that you don't use volume. So how do you know when "The Generals" or "Smart Money" or whatever term you wish to use, is acting and showing it's hand?

BTW I think your views are very refreshing

VSA is of limited value and is only useful is you are a systems trader, which, The Expert is not

The Expert can be called an RTA, or, Real Time Trader, with, the main focus being on WHAT is happening right now in relation to what has happened in the not too distant past, and I mean NOT TOO DISTANT

By all means know YOUR levels, but, more importantly, know The General's levels

As for the idiots, well, lets just say that they will NEVER know what The Expert knows, for, they are BLB traders, or, Blind Leading Blind

If you care to reflect on what I say, and do, you will clearly see that The Expert is right, more times that he is wrong, which, is the essence of GOOD TRADING

Ignore what the idiots and fools say, AT ALL COSTcheesy:

TE

 

[Traduk]

AGAIN, you clearly demonstrate your very limited knowledge of the markets and individual stock behavior

Keep showing how much YOU are not like The Expert

:smart:TE:smart:

There has been speculation in the media and tip-sheets on that stock for weeks. Primed and ready to go all it needed was something of substance and in piled the crowd. You admitted that you heard or read about it so it somewhat follows that you were influenced by or chose to run with the speculators and that you were tipped off by something not of your own creation.

You may assume what you like about my knowledge of whatever but rest assured that it is wrong.

If I was anything like you either I or a member of my family would be seeking expert advise.

 

[The Expert]

:whistling

 

[The Expert]

 

[maiden22]

go away you insignificant other, and get your hair cut, for, it is obvious that it is in your eyes all of the time

:smart:te:smart:

lol

You're a good sport at least.

 

[jon1971]

To TE, you ask why so many fail with so much readily available info.

They fail because the info is not enough, they fail to properly manage themselves, their expectations and their risk.

Initially they think every trade will be a winner, when they're not, if they're still in the game ( and havn't over exposed and failed to exit on a loss, allowing it to develop into a critical loss), they start to fear the Market and start to view Market data as threatening, which skews their objectivity all together, and ultimately makes them cut winners and let losers accumulate.

It's not the data or the analysis method that is the problem, but rather the trader's psychological view.

That's why so many fail and it has got naff all to do with technical analysis.

Mysteron, please would you post a link to that pdf on volume spread analysis.

Thanks.

 

[MacAttack]

Why the hell would I WANT TO ENTER AT AN EVEN NUMBER

TE

Ok......so regarding the PALM trade.

1. It was in an extremely narrow trading range after a long downtrend.
2. Buy low, sell high.
3. Narrow range leads to wider range.
4. There was an upgrade by BMO.
5. It was near a round # which usually seems to attract attention.
6. The weekly range for a year was 1.74.
7. The price on the daily chart formed a narrow range or slim jim pattern.
8. If you took a trade based on anticipation of a breakout of the daily pattern you could have a very small stop because the avg daily range had dwindled to a very small amount.
9. You could have a large reward compared to the stop based on the "avg weekly range" and the resistance target.
10. The futures were up the morning you bought.
11. You finally sold at resistance which was also close to the avg weekly range.

Were any of those reasons that you bought? I had to get one didn't I?

By the way how long should I go back when determining the "Avg Daily Range" and the "Avg Weekly Range". I missed that part.

 

[jon1971]

Mysteron, are the VSA pdfs you refer to the ones by Karthik Marar?

I have the download links, PM me if anyone would like them. I won't post them on here just in-case of any copyright issues and also I think they link to another forum (not sure of the etiquette and rules on linking to different forums).

Traduk, I take your point re. tick charts, I suppose that using independent volume bars also adds an extra dimension.

So in summary I am GUESSING that what TE is promoting (when you wade through the mass of cryptic clues) is the Wyckoff Method. If so why does each approach have to be mutually exclusive? Anyone care to comment?

 

[Trader333]

By the way how long should I go back when determining the "Avg Daily Range" and the "Avg Weekly Range". I missed that part.

30 days for daily and I am not sure about weekly.


Paul

 

[Geraldo]

I believe it is not the avg daily range, but the true exact range. No average. Btw the Elephant is post 699 should be the MarketMaker. The other day there was a pict showing -250, (scale 250, etc), but it seems to be removed. It was in the Palm story. I think it is the TICK.

Found on the www:
Readings are simple enough to understand. For example, when stocks are moving up and the readings on the TICK are +250 or so, bulls are generally in control and it is usually ok to consider long positions. When it is -250, the bears are usually controlling the day and it is best to either consider shorting the market or standing aside to wait for another day.

However, for those traders with enough experience and clear understanding of market dynamics and market internals, extreme readings on the TICK are potential profit points. If the market were giving readings of +850 and above, the market is entering severly overbought territory and ripe for a pullback. A savvy trader can very often enter a short position and sell the market on the pullback for a very short term trade, closing the position once the market shows signs of bouncing and buyers are returning. The same method can be used in reverse when the TICK is showing readings of -850 or more and showing signs of oversold conditions.

Whatever the case, the NYSE TICK should always be a part of your trading platform with one eye always watching it since the information it provides is like taking the pulse of the market as a whole.

Makes this sense Mr. Expert?

 

[kimo'sabby]

Only TA charty amateur traders have to deal with time-dragging and supposedly 'sideways' moving markets. Crab futures, they move sideways, you'll find them in the fishing sector.

 

[Charlton]

Only TA charty amateur traders have to deal with time-dragging and supposedly 'sideways' moving markets. Crab futures, they move sideways, you'll find them in the fishing sector.

Have to look into that - is it easy to catch crabs ?

Charlton

 

[kimo'sabby]

Have to look into that - is it easy to catch crabs ?

Charlton

Hook, line and bait. Suckers for something really fishy smelling, of course, they are oblivious to what is in store for them. Dinner at 8?


Are we on about crabs or amatuer traders?

 

[Geraldo]

pict 704 "the secret 7" will probably have something to do with The Magical Number Seven, Plus or Minus Two: Some Limits on Our Capacity for Processing Information, Is this right Mr Expert? The www is very valuable.