Yeah, I know man. This is double helping of trash-talk at its worse. If he really wanted to help these nOObs he could have given them everything they needed in 3 days tops and be done with the whole damn thing. Instead he wants to sit here an play games, hey, it's fun and it keeps me from overtrading (for any of you row1 students taking notes - i.e., all of you - that's a freebie). JJ
Who in there right mind would attend a class they have absolutely no interest in if its entirely optional? Man to me thats just sad. There has to be something you are interested in somewhere. Guess your the sort of guy that would cut off your nose to spite your face. If I was to paypal you $50 would you go out an have a couple of beers on me, or go catch a movie or something? PM me rather than clog this thread up anymore. Anyway thats the last I'll say on the matter here I'd be greatfull if people didn't quote JJ's post and made liberal use of the complain button. Makes it easier for mods to keep the thread clean. Cheers.
Pardon my typo's.....no time to proof read, gotta run out -------------------------------------------------------------------------------- This thread started off sounding pretty good and I agree with a lot of the things the OP has said, such as reactions at Fibs being nothing more than coincidence but I couldn't disagree more with the Generals theme. True, the big boys do accumulate and their footsteps can be noticed but size should never be equated with intelligence. There has been no end to the amount of times I've seen the big boys buying only to watch the price go lower. No one is bigger than the market. The largest and smartest run hedge funds generate returns around 50% per year, which is quite stellar but even they succumb to the market many, many times over. Trading is nothing more than an art. You either have the talent or you don't. Watching what the generals are doing, even if you can draw that sort of conclusion, won't do a thing for your trading. It's a matter of being able to go against conventional wisdom and do the opposite of what everyone else is doing. Most strategies can work but it's not the strategy that gets the credit, it's the artist who operates the strategy. The OP says it's unknown whether the next tick will be up or down once you enter your position --- ABSOFREAKINGLUTELY agree! Attached is an example of a random data set where the next tick is random. It could either be +1, 0, or -1. That number is added to the last quote. What does the output look like? Do you see patterns in there? Support and resistance? Fibs? The market is FREAKING Random! Unless you develop a plan to handle randomness you're destined to fail. Follow the Generals? What bull shit!
I guess some of the generals loose the battle. I guess there are mighty generals with bigger armies than others. One thing that can be shown empirically (watching the market or a gazzilion studies) is that order flow is linked to price movement. Other studies show that volume and (trade) rate can be effective proxies for paper coming in. The question of course is if it is the orders leaving the footprints how do we detect this early. Its no use chasing 5 miles behind the elephant. I guess we need to look for the subtle signs that the heard is about to move. Cheers
PTF FYI, I came down to 4 orderflow displays, each of a different nature. They only serve as verniers for the big picutre of big money doing what it does. I operate as a parasite (thats why the third row is so profitable) and dance all around big money at a pace that is 100's of times their cumbersome pace. I do the crayola thing and take profits on all the segments by ultimately using the verniers inside of the multiple envelopes, the largest of which corrals the elephants who annually just stand in place along side the true value of purchasing power. Being an elephant turns out to be just stading still. Money is made dancing in the envelope as optimally as possible. Yesterday was one of hose sublime days when tons of money was extracted in very rapid succession. (See my notes elsewhere). There are soooo many ways to make money in the markets for the amateur retail.
CD23..what is your ES trade size per trade?...how many contracts and how many points do you go for?...trading the ES>..
CORRECTION REQUIRED URGENTLY: I said that I will demonstrate, why it is, that a lot of people who paid good money, to learn how to trade with The Generals, done nothing but waste their time. Do you all not remember this post ? I am sure that if you look back you will find it, unless someone has colored it in of course !