Guy.. It's all good but seriously, with the utmost respect, you need to check some facts first. Please, don't take this on the offensive. If I may, I'll give you a hint form experience. Do a research about floor traders. If you have the chance to talk to one, by all means do it. Ask him what time frame does he prefer to trade - how consistent he is and how long he's been trading. I am so sorry but you observation on price action needs to be refined . But I won't go far in here because smells like a pissing match, really. One thing I will have to agree into some extent with you is that big institutions put a lot of weight on price levels and Guy, really, the trick is not to fight them but to play along. About consistency - the facts speak for themselves. There's a universe of traders leaving their eyeballs glued on the screen - twisting here and there, changing timeframes - trying all kinds of indicators. to trend or not to trend etc, looking for consistency like the pot of gold at the end of the rainbow. So, why the aren't? The energy they put has been directed in the wrong direction. They have a pre-conceived idea that with a couple of moving averages, consistency is going to magically appear on their P&L's. It takes more than that. Markets are simply put: irrational. The more you tweak your "systems" the longer will take to get on the profitland.. Beliefs are irrelevant on the markets. If you're going to talk consistency, then you need to know your market. That should be a start. You can't be consistent just bending yourself over and throwing farts at the moon. There's (again I am repeating myself here) an unique characteristic on every market you must know beforehand. Please, refer on my last post so I don't have to repeat myself here. Thanks One of the most celebrated pissing matches in this business is the all so called longer time frame vs. shorter. There's no edge on that, really. If you don't have a clear view on the market you're trading, a bigger timeframe will only serve to extend the agony. But I will stop right here. As I said before, is not my intention to start a pissing match - a common behavior here at Elite Trader. Guy, this is going to be my last post. I came to ET just checking some brokers and I found your thread interesting. Unfortunately the quality of threads and post in this site has degraded so much that is no worth for me to even come back. The mods here are all nothing short of a joke, well really there's no moderation. It's amazing how some people has to rely on insults in order to make a point. That's a definite sign of lack of knowledge. If your intentions is to make a point , well by all means keep banging some other doors . But if you want an honest view on this subject to exchange information, then you can count me in with this post. Thanks.
That is a sign of internet forums in general. When everyone is pretty much anonymous, then flaming and insults reign. There is one person on here who has at LEAST 70 different aliases, and keeps switching his IP address so he cannot be banned. But that is everywhere. Some of us have called for some kind of minimal entry barrier, such as paying $1 through a credit card, bank account or PayPal to note identity. That would weed out a lot of the multi-aliases and spammers. I find the biggest annoyance are the ones who post obviously uneducated drivel, and then are completely closed to facts, reality or evidence. The Ignore button is one of the best several things about this site.
Traderzones. I agree with you 100%. The value and quality of information regarding trading is so poor that I simply don't bother anymore. I became a silent - occasionally observer. My activity on the internet besides trading is simply looking for the music I like on youtube. Unfortunately, a lot of newbies land on sites like this and I assume they will end up slowly handing over their capital to professionals who have a golden opportunity capitalizing over them.. Is either who has the bigger dick or who has a hidden agenda to sell you crap. I also agree, a good quality site must be regulated. One thing the owner of this site (Elite Trader) should do as a start in order to improve quality is to take Mr Jack hershey and the circus of fantasy he conducts and put him on a new - fresh site(or forum?) where he can teach all this Alice in wonderland trading at his convenience. Also he should be automatically banned everytime he butts in on another thread/post other than his Alice in wonderland forum The cleaning process should be reduced to a 50% on this particular measure. Oh yeah! The forum should be called "Alice in wonderland", why not? Jack Hershey used to be somehow "entertaining" but now is painfully boring...really. Another thing he should do is to start a new section called "pissing contests" and take all this " I have a bigger dick than yours" posters and stick them in there. They will be like a hurdle of rats running wild in a sewerage. The section (forum) should have "memorable pissing matches" so we can go back, relax, grab some soda or beer and popcorn, and have some entertainment on past events. I said the last post was going to be my last. Tradezones has something of value in my view, so I felt encouraged to reply to his post. Go back to my cave again.
+++++10. I cannot imagine he has read all the negative responses to his lengthy diatribes, and just does not get that no one who understands trading takes him seriously. OK, most of us are anonymous and we all have our weaknesses, hopes and agendas. But constantly stalking newbie traders and giving them false hope is pretty low on the decency scale. Heck. Even our 70+ multialias constantly stalks him.
Just put him on ignore, you seem like the biggest proponent of the ignore button. For some reason you refuse to put old Jackie on ignore??
LOL pay $1 for ET? I wouldn't pay a penny. Why should I or anyone unless it can guarentee a much better quality in the posts already seen? There are many free forums that we can jump over too, and the activity here will drop 99%, and the advertisers will jump ship, and ET will close down. Want to really seperate the pros from the newbs?..the REAL traders, from those that dont even have trading accounts?...make everyone submit a PAPER copy of their statements (blocking out personal info of course) so the owner can know who is real, and who is full of shit. but that wont happen either. Just live with the fact that these types of threads will come up like weeds once every month, and while the OP might have honest intentions, they always become filled with sh-t.
This guy keeps on coming back, thats more pageviews for the owner = good thing! On the other hand when I look at todays intraday range for 3 hours 6 tick range for ES... ET will probably lose some posters in the coming years if the bull keeps on going. Daytrading is dead. I can't wait until the next bear market and the influx of another batch of noob traders! That's gonna be alot of fun. (I was with the last batch)
Who is this Jack Hershey guy? I see his name mentioned in many threads,is he a snake oil salesman? Cheers, Max
TZ, Jack is really hard to read, hard to understand and on his best days, simply confusing but he is not malicious. He comments in threads but never solicits anyone. Your comments to the contrary are completely false. Those that continuously & maliciously stalk Jack are part of the problem on this site and are absolutely NOT part of the solution. Traders, for the most part, are intelligent enough to search the threads for posts made by individuals like Jack and can make the decision on their own as to whether he has anything to offer them. People aren't as stupid as you make them all out to be. I personally like Jack but would never use his method for trading simply because I find it flawed for the time frame I trade. I figured that out on my own and didn't need you nor the vigilante force of miscreant teenage multi-alias children to point that out to me.