Trading Pearls

Discussion in 'Trading' started by Lojanica, Jun 2, 2011.

  1. This thread is about trading pearls.

    Time of Day is important.

    Traders focus on price action which is king but in the King's Court lies Time of Day. That is WHAT Price Action is doing at WHAT time of day is more important than either independent factor alone.

    News is released at certain times, programs are initiated at certain times, algorithms reassess at certain times, volume can often tell you what times are important. Time of day is so important that companies and Gov't entities analyze at what time to release news and data. Something to ponder.
  2. Patterns exist in the marketplace which paint the picture of likely future price action. Accumulation versus distribution. These can be determined by analyzing charts, market internals, and fundamental data. A story emerges and then trend days by big programs show the liklihood of further trending versus range trading.
  3. 90/10 rule

    90% of the time markets or instruments range. 10% of the time they trend. Figure this out and you gain an important key to optimal trade positioning.
  4. Indicators are good to filter out noise so you can determine whether or not it's the 90 or 10. Otherwise and when you get good enough price action is all you need and pattern recognition.
  5. Let's get some input from other traders here!!! :D :D :D
  6. Watching many markets at one time eg. Oil, 6e, 6b, dx, ES, NQ, YM, GC, SI, ZB, ZN,

    Helps to see the overall picture of where the money is moving. Gives one more of the big picture of what is happening at the moment. One can get some nice warnings from other markets. Also , concerning time of day, one can see the effect of one market closing compared to the other markets that are still open.
  7. I asked the moderators to remove your post.

    But yes, I told YOU specifically to short ES at the top and long the Euro 6E at the bottom. Why, because I know your type and to make a point which I am using now. Today both of those trades were highly successful. Now go away you're not a contributor.

    Peace out
  8. So you made one good call. I've been making real time calls for over a year. My current position in SPY is bigger than most traders on this forum's entire accounts. What is "my type"? Cynical yet profitable traders? There needs to be more people like me so people aren't like "U MEAN U CAN TEACH ME TO BE PROFITABLE WITH CCI AND I DON'T EVEN NEED TO LOOK AT PRICE? WHERE DO I SIGN?!!"

    I explained myself fully in my post; there are plenty of people on this forum who give guru advice without actually being profitable. My bad if you're not one of those people, but it happens so much I instantly go into cynic mode when I see one of those posts and don't recognize the username.
  9. OK. Great. Since you're profitable you must have learned something. I am trying to contribute because trading is the hardest yet easiest business in the world and I hope others do not give up but aspire to learn and progress. I do not think by cynically killing all the threads designed to help elite trader members is helpful to anyone. I would like to contribute and learn as well as helping others learn in the process.
  10. All I'm saying is most of the "gurus" on ET who give the most advice actually have no idea what they are talking about, and their advice is vague at best so after you pay for their course that they try to sell you via PM and it ends up not being profitable, they can hide behind the vagueness of their "rules" and say things like "study harder" or "trade what you see."

    I have learned a lot, but when I post what I've learned I get flamed by "gurus" [​IMG]

    I basically do everything the opposite of what you're supposed to do. I buy in down trends, I sell into up trends. I average down. I have long and short positions open at the same time. I hold through way more than 2% equity drawdown. etc.

    But that's how I do it. If other people can make trendlines, or MACD, or whatever work for them, then more power to them.

    I trade pretty non-directionally because I cannot predict direction. Like I always say, if I could, I'd be throwing dozens of ES contracts on at a time and making 4-5 figures per day. But until I learn how to do that, I'll do it my way.

    There is no universal advice in trading, I don't think.

    Even though a lot of people say "indicators don't work" (and in my experience, which includes years of backtesting and developing my own, they don't), that doesn't mean there's not necessarily someone out there who can use them profitably. But I guarantee he's not selling his method for $50 (or even $5,000) via PM on ET [​IMG]
    #10     Jun 2, 2011