Where is a system that works?? Help Please!!

Discussion in 'Index Futures' started by chopper1967, Sep 17, 2006.

  1. WaveStrider,

    If I may be so bold and if nobody has said this before....

    Welcome to ET. This is what ET is all about.

    Michael B.

    • Average people discuss other people
    • Above average people discuss events
    • Great minds discuss ideas




     
    #11     Sep 17, 2006
  2. Thx ES. :)
     
    #12     Sep 17, 2006
  3. http://www.elitetrader.com/vb/showthread.php?threadid=69230
     
    #13     Sep 17, 2006
  4. Cheese posted to you twice. From that you get the idea that he is looking at price a lot and he feels that, by osmosis, you will get to be like him and his approach.

    Someone else mentions seeing homeruns and to not try to hit them for some reasons.

    I notice that home runs are hit every day and it turns out by doing the cheese thing differently for only a short while, you get to be able to see the home runs quite easily.

    "Seeing" the market is the clue. The indicators that lead price are very important to watch. Then when they give you a home run signal before the home run begins, you simply get to make a pile of money mostly everyday.

    What people who offer suggests usually leave out is where to look for any given phenomena. This is extremely important to a trader who is starting out and has only limited funds to begin.

    At our office we only look at equities and commodities that make a lot of money in a short time. Our current equities list shows 4.18 percent per day. Within that list the home runs run about 10 to 12% a day. Any commodities index may be traded for home runs daily.

    The way to get a good list is to use a "quality" sort and get it down to 50 to 100 stocks. WJO's combo of EPS and RS work in 5 seconds to get that list. For home runs, singles, doubles and triples, the leading indicator of price before the swing is made to hit the ball is volume. The P, V relation tells you this.

    It's 8:00 am here now. I am going to a :)00 meeting and we will have all of this set up for the first time in a short while with a person who is having third meeting with me. He did his first trade last week with capital he took out of INTC (he saved 3,500 dollars by taking it out). He used the money to trade CBEY for two days to make 10% on the capital.

    Last Friday, the home run stock used to sweep unused funds out of the equity account made 12% for the day. Friday was not an unusual day for traders.

    So I recommend that you set up your computer to have a quality list of stocks, On three columns associated with the list, put in columns for volume, the %of the 65 day average, and the 65 day average. If you want a list of percent of the 65day average for any particular time of the day with respect to stocks whose price will be going through the ceiling let me kmow by pm with your email address. The list makes it easy to hit home runs. BY sorting on the column, % of the 65 day average, these stocks go to the top of the list as the market opens.

    I probably should post those that are going out of the ball park each morning.

    This post may be too specific and too long I just focussed on an alternative view to that which you recieved from cheese and the guy who said to skip home runs. It is my opinion that these guys are not doing as well as you will be by midweek if you get to work.
     
    #14     Sep 17, 2006
  5. Grob is a senior trader to me and I must concede, as he is right. I think that the point I was trying to make was that it is ok not to catch the tops and the bottoms, but to find the velocity to take some profit out of. I think this is actually was Mr. Hershey was saying too..

    I apologize for any miscommunication. And correct me again, if I am mistaken Mr. Hershey.

    Michael B.

    P.S. Perhaps lowering expectations could side-step some. For me discovering that I was looking for too much and trying the consistent approach compounding lower yields seems to be the slow, methodical approach that agrees with me. Some here have tried to teach me otherwise and I am not ready for it yet...I admit it...(Mr Hershey has taught me over the years that it is a road to travel and it is me that places the stumbling blocks in the way and shuts off the flow of growth).

    P.P.S. here is an example of what I am doing. I just banked over 10% in the last 3 days of trading...what do I do? I lower my exposure and scale back with diversification (I believe I can continue the velocity with diversification and if one of the positions go horribly bad, it will effect the portfolio less). Some tell me Electric! take the money while you can! I say No! I want to survive and the market will take it away from me!...I have quite a profit avoidant stumbling block to overcome...

    P.P.P.S. I have found that higher yields command higher drawdown...thus the roller coaster ride that I dislike so much.....others love the ride and can handle it...I still am a believer in that trading can be "not Gambling"...
     
    #15     Sep 17, 2006
  6. Hmm. Where does that leave people who discuss other people's ideas about events?
     
    #16     Sep 17, 2006
  7. sometimes I do that while sitting...Guess where?


     
    #17     Sep 17, 2006
  8. Cheese

    Cheese

    Apart from this post I have not before posted once or twice to Chopper on this thread.
    The osmosis referred to can only be the arthritis which, sadly for him, Grob is experiencing in his advancing years.

    He proclaims staying in play for the market day (ES) by turning around his position at the top of each upmove and at the bottom of each downmove as they follow each other. Definitely OK as far as it goes. But at 20 to 40 interventions per market session (eg YM), it means turning around in some or many segments that are not worth much more than a wash. Excessive twisting and turning limits the position size being used. Apparently he can’t work out what size of move is coming or developing in front of him. Sweet. Also you cannot get up to optimum or maximum bet or stake size using this form of amateur play.

    But horses for courses. Its a free world.
    :)
     
    #18     Sep 17, 2006
  9. he's havin' allucinations i tell ya, and i need to know what kinda acid or mushroom hes discovered, man i can place it right there amongst my arsenal of dope...if that can convince me i banked 4% every freakin' day that's enough for me.
     
    #19     Sep 17, 2006
  10. KK70

    KK70

    That is an awesome quote!!
     
    #20     Sep 17, 2006