All the ancient society's were gay. Alexander the Great was lover to his friend Hephastion. The Samurai in Japan all screwed each other, as did The Greeks, Egyptians, Romans, etc. It was more of a cultural thing I believe. Women were seen as subservient and only useful for making and raising babies. For many, only another man was worthy of true companionship in these ancient societies. Achilies in the Illiad was gay and he killed Hector because he had slain Petrocles, his lover. You'll notice he was only his cousin in the film Troy. I suppose Mr. Pitt didn't want anyone calling him a poof, which is incidentally the same reason he doesn't post on the Elite Trader boards.
Although, WaveTrader sometimes comes across as a little conceited, he has many valid points. Keeping stops tight seems to me critical to long term success. You need to take losses quickly and efficiently. Become good at losing. After all, trading is a losing game. I personally use stops that can vary from as little as 3 ticks to as much as 12 ticks. Most of the time I would imagine my stops are 6 ticks or less, although I base the exact level on a technically significant level that shows I am wrong. I believe in this current low range, low volatility environment tight stops are critical to success. In a more free flowing trading environment like 2003 you can use larger stops with greater success. I used 24 tick stops with great success in 2003, but in 2004 that would be a recipe for disaster. One should also consider that the best trades tend to work straight away.
"at some point we should have a full discussion on Gilmore's best bud, the "astro-cycle-trader" Pesavento..." Yeah you're right at some point we should. Did you know that for years Larry wrote a newsletter "Astro Cycles" and it was popular with some people because they were studying all types of cycle work in the vein of Bayer, Capt Williams and some others I can't put my name on right now. I never followed any of that shit but I took the time to study it to see if is was worth anymore than a glance. Why didn't you mention Arch Crawford as well he and Larry are friends. But for all your attempt or should I say contempt to disrupt intelligent discussion the only one around here that is a FRAUD is you. Now I am home for a day as the weather turned bad so if you want to test your skills at communicating intelligently you can try but I don't expect anything intelligent from you as you have just acted like an imbecile the whole time you have posted to this thread and have not made any plausable contribution whatsoever. BBG
I can learn from both Scientist and Bryce, and I can refresh myself about the negative mentality a lot of people bring to their trading, and I can make sure I don't suffer from this thinking myself. The best thing is everyone putting down services like chat rooms without even having done a free trial or something to see what it's all about. That being said, I have trialed Steve Rifkin and he uses 6tick stops and that guy made calls that if I hadn't seen them in realtime I would never have thought it possible anyone in the world could trade like that. Not that I want to trade like that nor can I but still, it was very interesting. Eh but what do I know...
Chisofj, You did a trial with Steve so then you know what I am talking about - I tuned Steve into the trader he is today with a few finer points and he thanks me publicly. It is all there for anyone to see. Steve is a brilliant reader of the tape. He is also my friend. If just a few of these people who have the negative CANE TOAD attitude could realise that there are people out there in this world that WIN every week then we wouldn't have to put up with the likes of the defrocked priest and the FRAUD. All these guys do is lower the tone and as I have said to my guys almost every day when someone lowers the tone it suits me fine as I can get into it and tell them what I really think. I told everyone at the beginning of this thread that I don't take prisoners and nothing has changed. If idiots want to throw shit - let them - I can handle it. What have you seen so far? 66 pages of intermingled shit from a small number of idiots. I get slammed for arguing my point that they are idiots but I don't care as idiots must be treated like idiots in my world. Futures trading is a ZERO SUM GAME. BBG
[removed], What makes you think I am afraid of you? All your proposal does is extend your thinking towards what I have been doing for years. You see I am not scared of a challenge and now you have it built up into a - I fail or you fail - it has taken on a different complextion. There cannot be a reasonable outcome trying to hold a contest between me and you on ET or my trading room as it will be met with the same contempt you are getting now. Here is my proposal: A public seminar on day trading that I can have my agent David Hunt of ADEST arrange in a proper public forum. It can be in Sydney or Surfers - I would prefer Surfers but Sydney is a good location. Trading accounts with real money deposited and I will have my operator make all the trades I call and you can do the same. May the best man win. That's the best I can offer you and I will post it to ET without all the preamble I am answering to you now. You go and explain it to them. )))) BBG
Dado, I just read your original post to this thread (sorry, I don't mean to get back to the original point or anything), and it seems the two are mathematically equal. Is it a matter of slippage because of the bigger size? thanks.
BTW you can trade whatever you like in public and I will trade whatever I like. We will work on dollars earnt for the sake of a result. It won't be any problem to me to adjust my size . Anyway since you started all this it is up to you to call a spade a spade. Just say you will do it and guarantee to be there and I will arrange it. I am not in the business of compromising. BBG
Chirsofj: Your comment is of interest. On page 64 of this thread, I mentioned how a quick review of charts revealed an example that I call typical. It refers to one example where a trade entry leaning against a pivot did not work (using a 6 tick stop loss). I believe this example is typical of the ES market. Mr. Cutten apparently believes that 6 ticks is within the bounds of what we call "market noise". I believe that is incorrect. Market noise is dynamic. It varies as a function of the average true range. What is known about this is that one can do the homework and find accurate answers. I've already done that work, and so I operate from a specific point of view. In my opinion, Mr. Gilmore has done little more than advertise his chatroom, and display his temper (or rather the lack of control of his temper). To "read the tape" requires focus, the ability to think critically and react quickly, and most importantly, the ability to control emotions and ignore stress. If you look back at the posts, what impression do you get from Mr. Gilmore's outbursts? How likely is it that Mr. Gilmore has the ability to think clearly and execute on this level? Something is wrong with this picture.
This is more like it. Watching a paper trader means little. But when I see someone trading real money I watch, keenly...