please read the two posts by 'jim c' here http://www.elitetrader.com/vb/showthread.php?s=&postid=903707#post903707
hi, its nice to be back! i particullarly like the "zero sum" study you posted earlier. the table defining market participants is classic! thanks! surfer
Re: Gold...not my preference but I won't hold it against you, judge not. I would say it is more likely to break up but only can give anecdotal evidence...some analysts are saying gold to the 520's but they are using the square root volatility rule, I think.
It has taken some time to remember that study as I have deleted most of my files pertaining to market subjects. I had two .pdf's with similar topics one I posted, not the other. I haven't done any reading for awhile in market subjects as I was testing some new software and energetically working on another project. I anticipate some downtime in the next few months so ordered Larry Williams book on the COT Reports a couple of days ago. I'd appreciate you posting anything you have run across worth reading as I haven't been looking myself. Best wishes for a Happy Thanksgiving!
jim_c's observations are important proof of why the market is non random, as well as proof of why most technical analysis doesn't work. The market is not about price or volume -- it's about price times volume.
To me being billionaire is a measure of selfishness. On your road to becoming one there are so many missed opportunities to share your wealth. If you become a billionaire you're an as* hole in my book. There's no reason to keep so much money for yourself. To be able to make billions is enviable, but to be a billionaire is not. This applies to most multimillionaires too.
Cheese, I cannot help but wonder, what stops a competent trader from becoming a billionaire other than drive? I assume you are a competent trader, that can also predict markets, based on your posts.....therefore would it not be logical to assume that becoming a billionaire is well within your reach?
Has anyone stepped up and decided to predict what the price of any market they choose will be tommorrow. A margin of error of 0.1 percent will end this thread. I will reduce the challenge from five days, to just three. They must be consecutive. Now, while this still falls under the parameters of luck, I contend that the markets are so random in movement that no one here can even get that lucky.