Not to pop everyone's bubble, but I don't believe phantomofthepits is "the" Phantom of the Pits any more than my local shopping mall Santa Claus is "the" Santa Claus.
Maybe not. What matters is the book. I doubt the "real" POP is all that concerned about seeking the approval of the ET elite.
Are we going to start this again? Whoever he is has posted a link to the pop book and has made comments at least in line with what pop would have said. I'm sure ET will run him off in no time.
Good question. Think of court cases. Definitely a need for due process but its frustrating as hell watching 2 parties manipulate a jury to the best of their ability and its expected they come to a fair ruling. The lawyers have a hand in jury selection too! LOL!!
NO! Trading is SIMPLE. Ease comes after lots of study and practice. It is simple to lift weights. Five pounds, no problem. Fifty pounds, a little effort. Five hundred pounds, forgetaboutit unless you are a world class lifter.
ALL YOU NEED TO KNOW ABOUT TRADING * Price either goes up or down. * No one knows what will happen next. * Keep losses small and let winners run. * POSITION SIZE = RISK / STOP LOSS. * The reason you entered has no bearing on the outcome of your trade. * You can control the size of your loss (skill) but you can't control the size of your win (luck). * You need to know when to pick up your chips and cash them in. Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss) You cannot control the probabilities of wining or losing. You cannot control your average win size. The only part of the equation that you can control is your average loss size. PRICE ACTION âNow, 2 patterns of market behavior happen on a regular basis: 1) the price breaks to new high's (or low's) 2) the price reverses from new high's (or low's) They happen regardless of time frame . They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.â - H. Rearden 1) Price will either breakout of the high, low or both of the previous bar 2) Price will not breakout of the previous bar. You cannot reduce it any further. Anything else complicates the issue. ENTERING A TRADE You either decide to: 1) Wait and do not enter a trade 2) Trade a breakout 3) Trade a reversal. Those are your ONLY 3 options. That is all you need to know about trading. "The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."
Phantom, Rump, Db, Donna, Redneck... You're all sitting in a dark room with lava lamps while you write this, aren't you? I'm beginning to realize futures traders and stock traders are completely different breeds. In the voice of Jerry Seinfeld "Not that there's anything wrong with that!"
I suppose they are. Stock traders are in the dark for 17.5hrs a day. Futures traders have light 24/5. That's why I switched to futures. And it's a hell of a lot less work.
I didn't mean one is better than the other. Please don't take it there. That debate has been never ending on this board. I didn't mean it that way.