It is my opinion that any individual that is bashing another trader's journal performance can't trade for sh*t. Proof: those here on ET that have journals don't bash other's w/ journals. So it's simple, don't say sh*t about any journal's performance, unless u have a journal here on ET or care on producing a p&l for a meaningful time period.
"Is this Bhodie character for real?? " I've been trading in Allen's room for about 4 months now, I drive Allen crazy by asking the same assinine questions over and over then laughing when he gets exasperated and yell/types "DON'T YOU KNOW THE MAGIC 7 YET???!!!!" LMFAO! I spent the first month there not knowing what an IRB was, so I'd fake it on the trades. Never occured to me to ask. I'm taking 2 weeks off the room right now to force myself to develop a system around the philosophies that have given me 116 NQ points in 4 trades. I'm going through lonliness withdrawl. No really. I'm just bored and having some fun. ps All of my trades were called real time in Allen's room, all of them using the philosophies I learned in Allen's room. 3 of 4 the trades were started with virtually the same setups that Allen called for the room. Small sample set, but I traded through September a little better than break even and survived August while I was learning. Brand new at this game and I wouldn't have survived this long without Allen. I never expected him to get me rich, just to keep me in the game until I got the hang of it.
Story from last Friday afternoon (I think, Allen may remember better and correct me). We had taken that big gap Thursday night and everyone was short biased because of it. I can't remember the trades that went through the room but I was long biased so I only took one trade (I think the only one that hit target for the day, I'm still kicking myself for not holding for the cascade). A short setup occurs near the end of the day. I'm looking at it thinking "There's no way I'm losing my money on this turkey trade." You see folks, from what I can gather Allen's trades are based on probabilites - if Setup A occurs then the price will move X amount 55% of the time. The other 45% of the time the trade will stop out somewhere. Basically, I could misunderstand Allen's setups seeing that I haven't been able to figure out the difference between weakness and support. cont ...
So, to follow Allen's system properly you can't decide which setups you'll follow and which you'll ignore. Allen will sometimes interperate the setups in ways that seem different to me, but I'm figuring it's some kind of magic dance he does so I don't think about it too much. You gotta follow the setups to make the system work in the long term. Marathon, not a sprint. I understand that, I know that periods of prolonged losses will be followed by periods of astounding wins. I've seen it happen again and again and again. I've seen days that I thought Allen was flipping a switch to turn the trend he was so on. And I've seen days where the setups didn't yeild profitable trades. It all works out and at the end of the year if you follow Allen's setups you wil be successfull 55% of the time with an average gain of ...... You get the picture. cont ...
So the trade is on and it's going no where. You guys know what it's like when you're in a trade - you don't want to hear any decenting opinions and you hate everyone who's not in the trade, everyone who's got an opposite position, everyone you can think of. The trade is going North when their holding a southern position. I start telling why I'm not taking the trade - why I feel the market will close close to 1000 and if the trade stops out it may be an opportunity for the room to switch positions and take the long to near 1000. No one pays any attention to me as usual, mostly because I run "what if's" all day long and crack jokes at every opportunity. Stuffed shirts. But ..... Allen doesn't censor me. He doens't get upset that I'm contradicting his call. He allows me to use the room as a sounding board for my ideas and philosophies. I ask him questions about where he sees support and resistance - that's about all I want to know from anyone. Right now that's all I really want in a chat room
" think Bhodie should start a new thread entitled: Worshipping the Great AllenZ!" Allen's done nothing to make me dislike him but get one thing straght: I'd slit his or your thoat for a half point. I've got no friends when the market opens. At 9:30 you're all either tools or enemies even if I happened to like any of you. Which I don't give a rat's ass about. See you tomorrow. (Allen need those calls man ;-)
Nope. The "Nap and Gap", a system developed by one of Allen's chat room members ebr. He sells the system and a trend detemination tool for $19.95. It's a fairly straight forward system and determining the trend is as simple as flipping a coin. Drop into the index room at Reality Trader and ask for ebr, he'll set you up good.
Bhodie, I was referring to JayK's previous post on another thread and followed it up with his remarks here. Sorry to bring it into AllenZ's thread... I just couldn't resist the jab.
Ok... how do you contact ebr w/o hanging out in a chat room? I'd like more info on any system for less than $20.00. ~EC