Hello Boys & Girls: I have been busy this morning, but wanted to look in on you again. I was long the market into the close yesterday, as I mentioned in my previous posts. My reason for posting was to show what the other side of T-Rex's "system" looked like. As I mentioned he is using a simple 40 period trend following system (what I can see of it anyway). What I hope some newer traders will pick-up on is that there is a balance point in the market and you can make money learning to read it. When it shifts on way you can make dollars long. The other way, short. You cannot do that just following a 40 period system with the rules as posted. It is a good start, but you have to include volume and other clues so that you can start to read supply and demand. On the other hand, dont change a thing folks. I will continue to be on the other side of your trades. Good luck, Steve46
Hey! where did everyone go? Aren't we having fun anymore? Well I am going to close out my long position now at 1129. I think the bias is up (for the moment), however I would not advise anyone here to keep a long position overnight. Better to step in (on good buying) tomorrow. Take Care. Steve46
I was out of the ES today. I cancelled out my orders from this morning after they did not get filled by 11:30am EST as per the rules outlined in the method. I was however short the Euro today.
D'OH Then this liar calls out your BIG LIE!!! You are the most amazing, after the fact, trading walking the face of the earth - where does it say to get out at 11:30 per the "method." Your method of madness for the day was this: Current readings: Short @ 1128.75 Long @ 1114.75 Then you go on and claim to have been trading the Euro. D'OH Really, T-REX. A former Futures Broker that per NFA requirements had to take Ethics training. I guess what you learned will never fit your style in keeping this Journal or your Website. Hence, I can guess you are no longer a Broker. I wonder why.....
T-REX, it is obvious you have a credibility problem. I am waiting for you to make another post and say you were short INTC, YHOO, QLGC and long IBM at the close. It would not surprise me.
That's odd, when you replied to my question at 11:30 a.m. EST you stated that there was "no set up yet" versus "I'm not going to get filled on either side of this trade so I'm out and am going to short some Euro's."
T-Rex, Here's a suggestion that TGregg mentioned before... I'll go into more details. You want to help traders or you want to educate those that are interested in your methods...regardless if its discretionary, black-box or both. You can setup...for free...a private realtime chat room for you and those interested in your methods. The room will not be a distraction because you will be the room owner (moderator sort'uv speak). You'll be able to post your trades soon after they occur. That shouldn't be a problem because your not a scalper and it takes less than 5 seconds to post a trade in your IRC chat room. I'll be more than happy to give you a IRC trade posting script to make things very easy for you and those using your room. The purpose for the room is not to just post your trades... Its so that you can communicate with ALL those interested in your methods at the same time. This also allows someone to ask you a question in realtime...you respond when you have time...your answer will be helpful to all those in the room. This is much more efficient than giving out your phone number if someone has any questions. Most of the animosity in your strategy discussion (notice I didn't call it a journal) would be avoided and allow you to do one thing... to teach, to educate those interested in your method. Please don't reply that having your own free private realtime chat room to teach your method would be a big distraction from your trading... especially when this strategy discussion thread is a bigger distraction in my opinion. To setup your own private realtime chat room for you and those interested in your method... During market hours...click on the below link and ask for help in setting up your private free room. http://chat.othernet.org/?channel=help Those in the room with the @ next to their name are the Othernet folks that will help you... the biggest financial realtime chat network in the world. Once again...log in during market hours to get this started. The above suggestion will in fact allow you to do what you want to do... teach and educate others about your method along with allowing you to moderate your own room. In fact...my suggestion is much more efficient then what your trying to do via EliteTrader.com message board. It'll also allow those truly interested in your method to be among those that share the same interest. Questions will be answered faster...trades easily documented... Simple example...you would have taken only a few seconds to type a simple message in your free private room to announce you are only trading Euro today and not the Eminis. Avoiding a lot of miscommunications. Here's what I don't understand...your trying to teach via your opening statement in this thread... The fact you stated...you did not trade ES. Instead you traded Euro. Why didn't you notify the ET members via posting such? As a teacher...why didn't you discuss the potential impact of INTC on the Eminis in late trading prior to 4:00pm est? Why didn't you discuss the potential impact via the Fed Beige Report or the market moving conference in Europe at 1230pm est? As a teacher...these are common discussions that should have been ongoing between teacher and student. You know for fact how critical the geopolitical or fed news or key economic report releases have on the market... Yet, you either do not or fail to discuss such. I find this to be extremely odd and therefore I question your motive to teach. Simply...get a private free realtime chat room for yourself and those interested in your methods... post the link here at ET when it is setup... to put an end to all this bickering. Therefore...as a mentor or teacher to those following your method I think your obligated to communicate with them in the most efficient way possible instead of showing up later long after the fact. P.S. This thread is a losing proposition for you...cut your losses and move it to an environment where traders can truly learn. NihabaAshi
As most of you know I have bent over backwards trying to be impartial, stretching the limits of credulity to be sure, but I wanted to do everything to keep things civil, to allow this thread to fully unfold. There is some wheat among the chaff and various ET members were getting value out of hearing another trader discuss strategy and trades. It was not a "traditional" journal, mostly a discussion about strategies, but at the same time there were intermittent and regular trades posted qualifying as a quasi-journal. However, after tracking things carefully it is painfully obvious that there is a continual jumping around of entry strategies, stops, and financial instruments, often reported after the fact, and all credibility has been lost. In fact, it's gotten to the point where the overwhelming majority of posts are simply doubtful of the ever-changing methodologies or suspicious of motives or both. That's not a good environment to teach or be taught. So while I think T-REX has some educational lessons to offer, the current format is not the proper venue and this thread is closed.