Market Code Crack'd?

Today I heard Omaha's Oracle, Warren E. Buffett will donate 85% of his personal stake, or $37 billion to charity. The bulk of which, will go to the Bill and Melinda Gates Foundation; doubling their already overflowing war chest.

Me and my dinky dozen ticks. Makes one feel insignifigant, doesn't it??

 

No, it shouldn't. The Buffetts of this world are in a whole other galaxy than most of us, financially and maybe even intellectually. Still, becoming a self-made millionaire through trading is a feat that is absolutely respectable (and rare).

 

Buffet if overated. He is giving away nothing, he is in fact BUYING himself a taxed-advantaged strategy that allows him to PRESERVE his wealth, and keep it intact. What he is 'giving away' is likely less than the interest he will earn on the principal from which it is derived. The company he keeps ids that of other plutocrats, he has absolutly nothing in common with anyone else.

He is in fact a usurer, that insults the intelligence of others on an on-going basis. His business is that of having others pay him to hold their money, and as such he has developed the theory that people are idiots, and he does his best to perpetuate that belief, and to try and make it self-fulfilling.

He is doing so once again, by garnering all this hoopla, over waht is in fact just another tax-advantage, whereby his tactics involve getting more then he is giving, at the expense of the Gov't, which is turn the citizens, thereby once again letting others basically pay his way.

What twisted and miserly man he really is.

 

Somewhat weird, your line of reasoning.
I'd rather have had 1,000 US$ invested with this plutocrat in 1970 than ever daytrade a single cent.

But let's not turn this thread into Buffetology pro/contra.

 

In the never-ending, persistent quest for an efficient methodology, I have discovered that the angle of the price trend is as important as the trend itself.

Insight: The steeper the angle, the greater probability the trend will retrace equidistantly to its starting base. More so in uptrends than down.

Does anyone here know how to accurately measure the angle of a price trend within the first 3 bars or so without having to whip out the ol' protractor??

 

They use a similar concept in this CCI version for quotetracker paintbars.

http://boards.quotetracker.com/board/showflat.php?Cat=0&Number=54971&an=0&page=0#54971

If you go to the link you should find the formulas in downloadable format ... you'd just have to either translate them to your platform or use the Quotetracker platform to implement them on a trial basis to test out your hypotheses.

(if you don't find the formulas on that thread, you can search through the others, lots of good stuff there ...)

I tried it and didn't like it myself quite some time ago, and I've actually moved away from looking at and trading the markets based on angle and linearlity.

Best,

Jimmy

 

Hello, folks.

I've been in the "lab" messing with the formula. I've been paper trading the ER based on a simple method of a trailing stop and the $INDU. Simply put, when $INDU above trail stop, go long. When $INDU below trail stop sellshort. Stop and reverse. This is an always in a position and I tell ya, it looks promising.

Yesterday, I earned a usual 14 ticks. If I traded this strategy, it would've been 182 ticks. Everything looks good in hindsight, right?

Some back tested days, the drawdown was an astounding 150 ticks!!! I'm thinking what if I used a 15 tick stop and reverse. The trend usually picks up by then and you break even plus pick up a few ticks. The rule would be 45 ticks max. If you stop and reverse 3 times, for a total of 45 ticks loss in a row, stop trading for the day. I feel very confident in this method I am considering trading this and forget my 15 daily ticks for a bit.

Thing is, who ever said trading is 99% psychological is 110% right. I never understood that until today. My edge is not the method; my true edge was a second income. Noticed I said was. This income is in danger of being cut off and truth-be-told, I'm afraid. Without the psychological cushion of that extra cash, it is much harder to pull the trigger.

Funny thing is, although not properly tested, I am thinking of going balls-to-the-wall with the always in strategy. 5 to 15 daily trades, break even (less comissions) at worse, 6 to 25 ER point potential. Worse comes to worse, I can always sling burgs at the MacShack. You want fries with that?

Now if I can only find my balls...

 

'Tis the wee hours of the fourth of July and I am online messin' wit me charts No place I'd rather be.

If your method earns you ticks 3 days out of 5, stick with it. If said method produces at least 6 winning trades consecutively, you have found your trader's grail.

I am at the point in me career where it is not about paying rent anymore. I average a dozen ER ticks daily. My two losing days so far were 2 tick and 6 ticks respectively.

I love this living, breathing constantly evolving enigma we call the market. As a newbie trader, it enraged and frustrated me. As a professional, it facinates me.

I have a unique problem I wonder how many others have experienced: too many GOOD strategies to choose from. I am sticking with my dozen daily ticks basic. But expanding into uncharted waters is proving to be quite the challenge. How to choose. How to choose...

 

Try this one on for size:
http://www.insidemove.com/

Hey, me personally, I don't think it's real ... but so what, I've been wrong before .

Happy 4th,

JJ