i know this is obvious, but...

Discussion in 'Trading' started by Gordon Gekko, Dec 4, 2002.

  1. Magna

    Magna Administrator

    Learn how to really play poker GG, then you will know all about tells. In fact, all traders should know how to play poker.... :cool:
    #41     Dec 5, 2002
  2. i don't play cards much. can someone tell me what a "tell" is?
    #42     Dec 5, 2002
  3. stu


    GG. Before someone tells you what a tell is, can you tell for yourself from reading the above posts?
    If you can why not tell everyone. There is no big mystery. It is all rather obvious as your thread suggests (unless you are just messin') :)
    #43     Dec 5, 2002
  4. I don't know specific poker nomenclature but I would surmise that a "tell" ,as it refers to poker, would be something that another player does to "tell" you what kind of hand he is holding.

    in other words, a tell is something that another player does to give you a guesstimate as to the strength of his hand?

    Am I right?
    #44     Dec 5, 2002
  5. Magna

    Magna Administrator

    Bingo. :)
    #45     Dec 5, 2002
  6. stu


    dammit GG you missed your chance to shine :D

    in poker, the tell may be a bluff !! . Therefor this should ring bells when so called tells are thought useful in the markets.
    As a tell is a detectable alteration in a players behaviour which gives away a clue to his hand, the expert can make a bluff look like a tell.
    #46     Dec 5, 2002
  7. Hey GG forget all this bullshit about adding to a position.If a set up is good enough to get in in the first place, give it all you have. Why complicate things. The name of the game is concitration.Don't add to your problems by getting fancey. Get in, watch it like a hawk, get out.( I am a scalper)
    #47     Dec 5, 2002
  8. honestly, i still have no idea what is going on in these last few posts (not you, stoploss). why is it so difficult for some people to speak in plain english when it comes to trading? either tell me the answer or don't. i'm not going to waste my time with riddles. i'll make it simple:

    1) silk made some interesting posts.

    2) babak said, "silk is talking about using a tell. All great traders do this."

    3) i then asked what babak meant by that.

    4) the reponses i got mentioned poker. i don't care about poker.

    5) can someone tell me what babak meant in regards to what silk said? i'm talking trading..not poker. i would like to know what the hell a "tell" has to do with what silk said.

    specifically, the above means what?
    #48     Dec 5, 2002
  9. G.G.

    I think the plain english explanation you are looking for is that Silk is using his initial position as an indicator to TELL him what his strategy should be going forward. He is testing the waters with a probing trade and depending on how it reacts the outcome TELLS him how to structure his bigger bets (trades). He believes that by putting on a small initial trade he can get the market to tip it's hand and get a read on things before he bets the farm. This is why he puts his trades on within the same sector. It's a way of spreading out your bets and 'covering more numbers'.

    I think this strategy is fine if you are comfortable with it and you have developed a 'skill' for using it but I certainly don't see it as a 'Holy Grail'. I personally could see some problems with it, but then again what strategy is perfect ? What ever works for ya' .

    Nothing trumps discipline in this game!!

    As it has been said in many other posts on this thread and others, no matter what your strategy is if you don't apply discipline to your approach you are doomed to fail !

    #49     Dec 5, 2002
  10. ElCubano


    Get a reversal..........:mad:
    Get chopped...........:confused:
    Get a nice trend.......:D

    Silk does your adding entry size ( amount of shares you add) increase as stock is going in your favor??? or do you add equal size shares???........thank you
    #50     Dec 5, 2002