Dear Version, 1: I apologized several times in my forum and in this one for everything negative I ever said about ET. I'll do that again this weekend, for good measure :>) A lot of people, all complete strangers have written many <i>ass umptions</i> about me in various threads but only one has ever offered a retraction or apology anywhere. That lone exception is <b>Rennick</b>, and it showed a lot of class on his part. When I'm wrong, I apologize quickly and completely. That's what men and women of character are supposed to do. 2: The other methods I bashed were $5,000 package purchases that touted scalping the ES for +2pts using a -2pt or -2.25pt stop, or scaling into ever-increasing positions as the market moved against you. The premise taught there (for $5,000 +$400 per month on-going)was risk -6 to -8pts hanging in for +2pts when the market finally turns. That obviously distastrous illogic killed a ton of neophyte traders, many whom emails I still have as proof. I spoke out about that, and I still would do the same. Wouldn't you? 3: I said Jesse Livermore may have been the finest person on earth, and I hope he is Heaven looking down upon us now. He may have supported widows and orphans all his life, I don't know. But this we do know: he blew out all of his accounts repeatedly and to the end, before shooting himself to death over the despair of failing as a trader. Am I right or right? Do I have his legacy as a trader correct, or am I way off on his financial success as a trader? Why then is he and his posthumous biography held in such high esteem as the gospel of trading? Would that be much different than the biography of Scott Norwood explaining the nuances of kicking field goals under pressure-packed situations? My opinion of Livermore the trader remains the same: <b>as a trader</b> he sucked. He failed repeatedly and miserably. He took his own life, ended prematurely due directly to his personal failure as a trader. Very tragic, isn't it? What kind of role model for aspiring traders is that? Is that a trader's legacy anyone here aspires to? 4: I looked up what an Ergodic indicator is. Please tell the "someone you know" that I have not and never will use this tool for trading. They are wrong, please correct them if you would. I'm sure it is a fine oscillator, for traders who use them. We could build a viable method around it, I'm sure. 5: My purpose here in this forum is to offer solid advice, bits of experience and suggestions in constructive fashion. That's why I'm here. No reference on my part in this forum has ever been made to anything else. That's the way it will remain :>) * BTW... in respect of the topic for this thread, I believe $20,000.00 is plenty enough capital for a skilled emini trader to build an empire with, in methodical fashion over time. $10k would probably work for most who are experienced, disciplined & skilled, $20k for sure. That said, $5mil is not enough for any trader who lacks experience, discipline and skill... the result will still be inevitable failure. Have an excellent weekend! Austin P
i just jope eter's are not stupid enough to pay u 2k bucks for a shitty system that would not make money if u had no commissions to pay. i look up to jesse, u got balls to bash him, he was an inspiration and a hero in the eye of every serious trader, while i have to look down at valhalla to see u, cuz that's the only place u snake oil smugglers deserve to hang around. funny how u have to keep a defensive posture here cuz everybody thinks u are good for nothin', let's hope sooner or later u'll see the lite and trow in the towel; maybe it's already time to decide to go troll elsewhere, u are pollutin' et non-stop with your self-promotin' posts and we have all seen right trough u.
Dear Bit, Imagine my surprise to see a negative, venom-laden post from you. Such a change from the valuable, educative input you usually add to this forum. A quick peek at most of your posts in all other threads sure adds value to aspiring traders seeking solid info, now don't they? I try to give positive, worthwile input wherever possible. What is your purpose for posting? Exactly what value to others do you offer with your words & time spent here? ** Anyone, please help me out with the Jesse Livermore legacy. I'm open to persuasion. Say I'm brand new to trading, looking for a good book on how to succeed in honest fashion. You tell me, "Dude... gotta read <i>Reminisces Blah Blah</i>... it's the greatest book on trading ever!" So I reply, "Really? Cool! What happened to Jesse in the end? Did he leave mega-millions to charity like Carnegie, et al? Did he live the life of luxury and opulence like Howard Hughes? Wow! That Livermore guy must have been something else... I want to end up <b>just like him!</b>" If that was my reaction to your book suggestion, how would you summarize Livermore's life? What would you reply when asked how the "Great Trader's" life was left to legacy? What did he accomplish as a trader playing on level ground without crooked inside info that you want to duplicate in your life?
u are surprised? dont be naive...together with cops vendors are the most parasitical beings in my book. im sorry if u fall as for default in one of these 2 categories, it's your choice, not mine. and i think i make a most valuable contribution warnin' newbs to stay away from they likes of u. nobody but snake oil smugglers 'emselves would disagree with me.
<i>"u are surprised? dont be naive...together with cops vendors are the most parasitical beings in my book. im sorry if u fall as for default in one of these 2 categories, it's your choice, not mine. and i think i make a most valuable contribution warnin' newbs to stay away from they likes of u. nobody but snake oil smugglers 'emselves would disagree with me." ** Bitstream Registered: Aug 2005 Posts: 2970 09-09-06 08:33 AM your opinion is worth shit, since u know utter fuck, beginnin' with the fact am a white italian, not a muslim or a jew mofo. the palestinians problem is an injustice in the eye EVERYONE; only a jew himslef or a cukoo can defend israeli posture and actions. who u think u are kiddin', u are not after peace, u are belligerent to the max and dont blame arafat, u were dancin' in the streets when he refused to sign the peace deal. </i> ** Dear Bit, Do myself and "cops" rank low as the people you slandered in one of your recent diatribes? BTW... I'm a white Italian, too. Does that elevate me above vendors, cops, palestinians and jews in your esteem? Let's see... 2970 posts in 13 months = 7.5 posts per day. How many of your input efforts can we readers here learn to trade from? Glad there are educational sources like you for newbies to learn from. Wish all the testimonials of mine had found you first... you sure would have "saved" them from the snake oil, now wouldn't ya? Please point me toward any posts of your 7.5 per day that aren't selfish, self-absorbed rants by nature. Where is your contribution of positive, helpful, instructional content versus all that ego-driven, self-therapy drivel best directed toward DrPhil.com instead? I hear you talk the talk, how about walking the walk? If you want to "save the world" from snake oil vendors (and cops?) where is your positive contribution toward their education in this forum or elsewhere? Bit, please go ahead and copy-paste some of your instructional posts from the past here for us to benefit from... we're all waiting :>) Trade To Win Austin
Austin, Why not just start doing 100 lot trades and keep the your edge to yourself? Selling your edge is going to cut into your profits, isn't it?
Dear <b>Traveler</b>, I never have and never would sell or offer any type of "system". A trading system is defined by entry, management and exit rules. When a method is assigned those rules of execution, it becomes a system. Any system offered to the public can be overwhelmed by lack of liquidity. An ER system would be killed instantly. An ES or NQ system can handle some traffic, but eventually slippage will kill them too. Many people teach methodology trading: i.e. the interpretive use of chart patterns, indicators or some combination of such. I myself delved deeply into system trading and will never travel that road again. As a method trader, it is impossible for any amount of traffic to lesson or negate my designed "edge". * Right now I trade up to 20 ER and 40 ES contracts at a time, intraday only. Part of my edge comes from time of day activity... I only trade (new entries) 9:30am ~ 11:45am EST and then past 1:00pm EST into the close. I walk away from the office, physically remove myself from the screens midday. I trade big positions (relative) when charts are aligned in high-odds fashion, and smaller positions when signals are mixed. I commonly leg into big positions and exit all at once... scale in to minimize risk, when conditions dictate such. Soon I'll trade all the ER can push at one entry, probably 40-lots now and also 200-lots in the ES eventually. At that time I'll retire from all other endeavors and just trade for myself. ** Writing = teaching offers me an outlet to relieve boredom between trades and natural stress while in slow-moving trades. I really enjoy working with other traders, but I'm not motivated to do so on a serious scale. The bit of dabbling I do in this forum and elsewhere now is fun, we'll see what the future holds :>) As for negating any edge I have, that cannot happen. My edge in the market is a combination of methodology = tools, trading during high-odds time periods and trade management of holding for medium to large intraday swings moves. It's just not possible to harm my financial future thru pure trading (independent income) or I'd be the proverbial trader in a cave... more secretive than the Unibomber ever dreamt of being (laugh) Every trader's edge is a personal, individual combination of factors. None of us are in direct competition with each other... the market will readily support all who master this profession. Every person who truly strives to succeed in trading can do so, absolutely no question in my mind. Those who are committed to stick & stay will eventually earn their pay Hope this helps, Austin
A good trader of the e-mini's could do very well with about $40K performance bond on a yearly basis. It would be optimal that they branch-out from just trading the s&p500 emini. While there certainly are a lot of clues here, you will NOT find the optimal methodologies for trading in a public forum, and that is even more true of any system which is beign sold by vendors. But it's there, it is possible and doable. But it takes a certain amount of creativity and discipline to find your path, or if you don't really want to pursue that route, there are at least a couple of options that seem to be doing pretty well in the markets as presented on different threads, that are for sale. Best, JJ
and what on earth are u sellin' that could be worth 2k bucks if is not a system? all the stuff u rant about in this board is old news, aimed at naive newbs and available for free on the net. lend us a hand here understand what u possibly could be offerin' for such a dear price.
Austin, For being a supposed "Christian" you sure have judged Jesse's life and the way he died. You have no compassion for him because he committed suicide. Obviously you have never known anyone who has committed suicide or even attempted it. Otherwise, I think you would have a different attitude towards the subject. And it is bad in my book to talk the way you do about the dead. Let them lie in peace. You are Christian aren't you?