You want me to quote. Ok, here is what I'm talking about. Your words, not mine >>I'm sorry that I am being realistic that it is not 1999 anymore << YES, I think we all realize what year it is. Those days are gone. Need to stop looking back for comparison purposes is my point. >>Maybe you are freaking blind, but the last few months have been crap.<< No it is not I who is blind. You still fail to even hear yourself. Please type your sentences in first person. e.g. - -The last few months have been crap for me. I don't think I'd disagree with you then. >>Apparently the recent rounds of firing at the prop firms did not tip you off<< Dude, this is WTF I was talking about, THis statement you made. TO which I replied, >>Yes, I realize that there is piss-poor management at many a Prop firms throughout the Nation. However, that is not a direct function of the market my friend. Lets call a spade a spade here a recognize that any business poorly run in a *hitty economy is going to be in jeopardy regardless of its sector or industry.<< >>Within our group, people have been doing worse.<< Your universe from which to compare, I'm sure is huge. My suggestion again, is to look elsewhere and compare what others outside your universe are doing. Hence the skewed view statement. >>Some even took several months off because they predicted that the war situation would make markets like this.<< What do traders do, besides predict WTF market is going to do next. Hell, I'd be right 100% of the time and preserve my capital to boot by saying tomorrow or the next week for that matter is going to be harder to trade than last week. My point: You are either in the game or not. Staying out of the game in my opinion DOES NOT make you a better trader. >>It's a simple truth...<< Your simple truth, not mine and not so for many others out there. >>... that comparing to when traders were doing well, right now is a worse time. People are still making money, but well below what they were used to making over this past year.<< Who is this collective group that is ALL encompassing-in your mind, of "most" of the traders out there??? >>WTF I feel like he is bashing me because I'm stating what is essentially a fact?<< Not bashing you. Trying in vain to help you realize that what you were stating is simply not FACT! You almost made a breakthrough there by using the word "essentially", almost, but not quite wanting to admit that maybe, just maybe it is a fact in your life and in Your Trading. Merco, you were making blanket statements and I was simply calling you on them. Now, that I've had to go back through all this and throw it in your face, which I did NOT want to do. Lets just take it offline. As, I feel that this is the type of crap I'm trying to avoid reading in threads and here I am adding to it. -momo
you are right The market is great, the volume is great, there is more money to be made than ever before and the reason people are complaining is because we all suck and you are the greatest. Bow before momo, the supertrader who knows no such situation as a bad trading environment. The Dow could be at 1,000 and he will still pretend that it is as great as if it is at 20,000. Out of curiousity, do you even know what "momo" means?
Mecro- Now that I've broke you we can start with lesson 1. LOL! Just messing with you. Look, like I said before, I understand where you are coming from. In fact take a look at today, these type of days suck ass for me. Trending days, don't happen enough and when they do I don't really cash in on these. Instead, I find myself in disbelief about the severity of the trend and don't end up labeling it as a VSM until it's way late in the move. So, I'm stuck with CTTtrading the 2Ts. Most of the time if market just Bobs and weaves, as I'm more of a Bobber-Weaver type trader.. ;-) even on low volatility I can still make some money. Unfortunately, today's action combined with the fact the Rosenthal kept have server problems, I kept getting knocked off the system, and decided not to loose money to the market because of connectivity problems. So, I was relagated to paper. Did you trade today? How was it? -momo
Momo: You describe yourself as a Bobber-Weaver type trader, but how about the gentleman you describe earlier in the thread? Is he also a bobber-weaver that has less success on trending days? SilverDelta (And what's CTTtrading the 2Ts?)
Yes I did trade today and yersterday. I did good in the morning, and then it becomes churn and burn. The dissapearing sizes and sellers coming in because of the Futures direction change is really starting to tick me off. Normally, the stocks we trade do not trade like that. However, it seems like volume may be coming back so maybe the trading environment will improve.
Silver- The gentlemen that I described earlier, I could not do justice in describing his trading techniques and style and overall mannerism. I know, no other traders of 80yrs. of age. So, my scope here is rather myopic. However, I have met many traders in person, so I'll take a stab at comparing. I would describe his trading characteristics, as intense focus and discipline. His predictive analysis of true market direction, is uncanny. He blends the highly technical with some more abstract and theoretical in order to extract meaning from market movement. Market is played from the opening to the close each and everyday. There are no, well mkt. is slow right now, or other common things you hear from the popular press. Which I myself subscribed to at one time. Once you see someone dissect market consistently on a daily basis day in a day out. If you are someone like me, with a, I can make it on my own and have all my life kind of attitude, but have been struggling with this profitable trading goal thing... Well, suffice to say it makes you not only take a step back, but basically drop everything you've been doing and realize that you have to start all over and adopt a radical philo that requires you maintain extreme focus and undivided attention to the mkt from 6:30am-1:00pm PST. For me, it is certainly the most difficult part of trading. To be continually analyzing, never pulling back mentally from the task of calculating and refiguring, etc.. during the entire daily cycle. However, I can say that I now have come to the realization and IMHO, is what is required to attain master-trader level. seeing someone pull out 50-80pts. Nq out of the market on any given day and realize that it was not a fluke, changes your perspective on trading permanently. At least it did mine. As for the CTT( Counter Trend Trading) and 2T are Double Tops, as 2B are Double Bottoms. Knowing where market is pivoting and for what reason is key to understanding when and where to enter your trade. Also, understanding mkt. dynamics will have you in the trade with extreme confidence as to where and at what time you should exit the trade. An understanding of mkt tops and bottoms is one key factor that will guide you in and out of your trades. all the best in your trading career. -momo
Yeah, sounds kinda like what I went through today. The market has been going from a trading range mkt, to all indices reversing direction into positive territory and rather quickly I might add, then the market goes in VSM, or very str. mkt. mode and doesn't bother to look back. Has only minor downward dips, to one major correction per day, if that.... These days kill me. As I'm not much of a trend follower and trading this current system from the VSM Up or Dn perspective takes some understanding of mkt dynamics that I haven't quite gotten baked into my brain. If I get my scanner connected I'll share my daily log from today. You'll have a good laugh off it. I can't yet as I'm still crying..... -momo