I'll admit I'm not the best writer and my punctuation and grammar are terrible. I use run-on sentences and incomplete sentences with incorrectly spelled words and phrases. It would appear obvious that I did not attend College or University. However, last I checked I beat the pants off the college grads in the market and I took all their money. I have beaten the best and the brightest. I.Q. means squat in the market. The market does not care how smart you are or how many degrees you have. Smart $$$ myth: I have to say when I was a Futures Broker I would raise accounts by soliciting "self-direct" clients (Engineers, Lawyers, Doctors, Accountants, and other professionals with Masters degrees and Doctorates) who were not doing so well in the market i.e. "Losing thier shirts". Needless to say that I had no end of prospects on a daily basis. IMHO I believe that ............ Unless you have had the opportunity to post literally thousands of trades in several different types of markets....... .....................YOU ARE AT A DISADVANTAGE!!! Unless you have watched every tick in the market for at least a year (from 9:30am EST to 4:15pm EST for ES & NQ) and followed "ALL" the historical charts in the particular market that you wish to trade................... ..................................YOU ARE AT A DISADVANTAGE!!! Unless you have access to realtime data and know how to track intraday price patterns, recognize those patterns, test your ideas with realmoney in realmarkets with realtrades........ ..................................YOU ARE AT A DISADVANTAGE!!! Unless you are aware of what fundamental data effects the market you are seeking to trade ...... ....................................YOU ARE AT A DISADVANTAGE!!! Unless you are aware of what technical data effects the market you are seeking to trade............ ....................................YOU ARE AT A DISADVANTAGE!!! As a broker I met alot of desperate people who were sold a pipe dream about how easy it is to become a full time professional trader. I would like to take the time to actually thank these "guru's" for making my career. Without them I would not have had any losing traders to disciple back when I was Futures Broker. It is sad to see that these types of false, misleading "Castle in the air" building advertisements still go on today. People actually think that they can "figure" out the market by themselves and that they can actually build a "system" that will consistently extract $$$ from the market on a consistent basis. It's not that easy. Wall Street has spent BILLIONS $$$ over the last 50+ years to be able to make that happen. In the 1990's Analyst were paid tens of millions of dollars to time the market. We still have the 1990's mentality alive and well today in that MANY think that they can do what so many have not been able to do. This is no different than the lottery. Everybody believes that they will be the 1/50 million to win today! The odds are stacked against you before you have even begun. This is no different than having unprotected intercourse with multiple sex partners and believing that the odds are in your favor that you will not catch a venereal disease or have an unwanted pregnancy. The odds are stacked against you before you have even begun. That is why I started this mentor journal. To help demonstrate that it is not easy and that it takes alot of hard work. For selfish reasons I must say that I do hope MANY more hopefulls come into the market because that is were I make my money.......(being on the other side of thier trades).
Hey T-REX - Of course I fully agree with you! Let's face it: Most of those that had the super-grades in school are losers today. This quite literally here. I never wanted to end up that way. You're saying that the market doesn't care - And that's exactly what I love about the market. It is 100% indiscriminate. By the way, last time I checked, 8 of the 10 richest people in the world were highschool/college dropouts. FWIK that includes Wal-Mart's Robson Walton, Bill Gates and Steve Jobs. What it takes is initiative, and initiative will always cause resistance. Steve Jobs stayed away from school and went around phone-phreaking with little synthesizers he'd built. He even got caught by a cop once, but told him it was a "music machine". Stupid cop. Later on he went to built something much nicer in his garage. Bill Gates dropped out because he slept through his lectures in the day, for at night he was busy playing poker, consistently taking money off people, to get capital for his ideas. He had a system, he played, he had vision, he did it. Hey, he stole the windows idea from Apple, and Apple stole the idea from Xerox. But that's business, and that's the markets. Hold on tight or lose it. As much as I hate Bill Gates, but that's all the world is about. Not huge degrees and other expensive forms of toilet paper. Peace. Scientist. P.S: Regarding the punctuation & writing thing; I wasn't picking on you. I was picking on ortega, for he was anal retentive enough to pick on your little mistake, but then didn't get it right himself. That's why I pulled his leg.
T, I don't mean to harp on something that is obvious to everyone else but.. So far, we have two definitions of SAR, and I understand that you do not use it, but I would still like to know what YOU mean by SAR. Stop And Reverse or Support And resistance or something else? thank you sulong
I have to sign off now but let me say that Stop & Reverse and Support & Resistance are one in the same. If price exceeds the level then you take that direction. More on the subject later.
Where do you come up with all this? Stop and Reverse is NOT the same as Support and Resisitance. But perhaps you have twisted these commonly used generic terms and you mean to say that YOUR use of them contradicts their meaning and you have your own. I don't think you have the slightest idea what you are talking about. Michael B.
Michael, he said he would be back with more on this. Allow the masters a little poetic license, especially when they promise to translate.
OK Folks: Am I the only one who dosen't get it? What is "Swing Vix"? How is it derived? What is the added value a trader gets using it? Who is on the other end of "Investor's Edge"? I did a review (google) for that term and got a bunch of different sources. What is "Pulse Scan", and again, what is the value added here. When you do a google search, you eventually get to a website, but currently you cannot get much info. I am willing to overlook the disorganized character of T-Rex's Posts (its his dime so to speak, and he can "say it" however he wants) however I don't see any real edge here (so far). Looking forward to hearing something that makes sense. Happy Holidays. Steve46
T-Rex, I appreciate your willingness to share your scalping methodology with us and I couldn't agree more with your statement that the market could care less about the education level of its participants. I was just offering a crumb of my knowledge to you. I'm sorry..... it won't happen again. Scientist, Hi - You are absolutely correct in saying intents and purposes, but so am I in saying intents and purpose. It can be used either way.