Search results

It does lose its mystery, but you think to yourself "If I can figure it out, anyone can" and you get paranoid that it'll stop working or the traders you take money from will give up trading. At least I do, even though that's out of my control.

There are enough materials out there on Elliott that if you found yourself interested, there is plenty to read. As I became more immersed in Elliott, I realized that he had made some crucial errors, rendering his specific approach pretty useless, but, as a way of thinking about the market, his...

All of those individual transactions are reflected in price, though. I only watch the most liquid markets where individual transactions don't really matter, it's all "mass psychology" at that level. At the opposite end of the spectrum, for things like unique art works, individual psychology and...

I'd say "puzzle-solving" can encompass the kind of "code-cracking" you're talking about. I don't hate work, I hate working for other people. None of their problems interest me. Although, I will say that I do have "a" key to the markets and I work all the time. In fact, I have to get up at 4AM to...

It wasn't noise, but it was a misguided critique of the concept I was putting forward. You have the choice of either seeing that or pointing out that I am wrong. Or you can, as you seem to have chosen, be passive-aggressive and pissy. Obviously, it's not "easy" to come up with something as...

This is completely irrelevant. We are talking about the circumscribed world of "the markets", i.e. a completely human invention, not all of nature. Causality such as may exist in nature and other non-market realms are out of scope.

I think there are two types of addictions that can draw a person to trading. The first is the obvious one, i.e. gambling, and the second is to puzzle-solving. The market is the world's most complex puzzle.

Take something like Elliott Wave and ask yourself if any price action would be considered "noise" within it. Even if you don't necessarily assume you could identify the patterns in real-time, the fact that each bit of price action would ultimately fit into one of the framework's patterns shows...

No kidding if he knew the answer, he wouldn't ask the question. The problem is that he didn't know how to ask the question in a way that was conducive to getting a good answer. Can you see the difference? When you said you were a "newbie", I thought you only meant at trading, not at life...

I have to say that taking signals (long or short) on a Friday afternoon is never fun precisely because of the potential for a Sunday night massacre or ramp against me. Fortunately, those Friday signals are somewhat rare for me and I end most weeks flat. Not saying that guy got in on a Friday...

To me, this is kind of like asking "What is outside the universe?" Nothing.

Wow, are you just discovering that "smart" and "dumb" are relative to experience level? I'm so excited for you. What's next, your discovery that something I consider "beautiful" you consider "ugly"? Yes, the options experts you cite as posting regardless of the fact that they don't...

You have to admit that there is probably a better and a worse way to ask a question on this forum. Asking something so broad as the OP lends itself to a certain kind of flippant answer in response. Asking something very narrow and technical would indicate that the OP has a level of knowledge...

Why not just order the raw data from a provider and reconstruct whatever visual you want?

One minor correction to an otherwise very pertinent post. It was Malcolm Gladwell who wrote that book. I had also heard the idea before, starting in the late 1990's and I think it stemmed from some research that came out of the University of Chicago. Also, just to provide my own experience...

Go with what works for you. One of the biggest uncertainties in trading is the relationship between effort and outcome. As much as we want to believe that the two are related in all spheres of life, it is simply not proven in trading in the same way it is in other areas. Some people will say...

How, exactly, am I not as smart as I think I am? Lehman didn't sell annuities, or, if they did, it was in such a small amount that it wasn't even mentioned in their annual reports. It is somewhat common for investment banks to have small life insurance groups to cater to clients who want to get...

Well, I was specifically commenting on compensation cost differentials between the public and private sector. In some anecdotal instances I've heard of regarding privatization, the entity which takes over the service ends up investing capital up-front to improve overall service levels, so...

If Lehman had a life insurance subsidiary, then the annuity holders would have gotten something, precisely because the way in which assets are held against annuity contracts. As proof of this, go look at what happened to AIG annuity holders vs. other AIG creditors. The AIG life insurance...

Annuity providers are regulated by the state insurance bureaus and have to show adequate capital to pay out all contracted benefits. Who regulates Social Security? Also, you have a legal right to your annuity benefits and even if the annuity provider goes bankrupt (which one has not since the...