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Edge or not, by definition, the house still gambles. The house gambles with an edge, but gambles none-the-less. Using statistical probabilities in an effort to "become the house" in a trading environment is also gambling since the outcome of each trade (bet) is not known in advance. Just as the...

Sure.

I sent him the same stuff I sent you, Joab. Perhaps, he didn't recognize the value, or as of yet, not had time to review. Trading clearly moves from the 'gambling' paradigm (and well outside the box) when one 'sees' market changes as they occur (and often well in advance). Yes I voted...

Imagine an individual with a desire to become a neurosurgeon saying, "What? You want me to attend 4 years of College, 4 years of Medical School, a year of Internship and seven years of Residency just to become a surgeon? That's unfair!!" Sounds silly doesn't it? Here are the results...

Search ET for "Failure to Traverse" or "FTT" in an effort to understand how to differentiate between a retrace and a reversal. - Spydertrader

Yes, I was in a hurry trying to get ready to attend a Christmas Party this evening. In an attempt to avoid confusion, I deleted the channels no longer relevant. Unfortunately, my efforts resulted in additional confusion. I apologize for that. See the chart snippet below for the additional...

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1290307> See attached GMXR annotations in above chart. What you term 'failure to retrace,' I see as continuation from the FTT (blue channel). FTT's occur on any time frame (provided sufficient liquidity exists). In addition...

Oops!

Attached, please find today's ES chart. I do not have a fully annotated copy of the YM today as I had to leave the computer to run some errands during the afternoon. Over the weekend, I'll make some time to answer any of the lingering questions posted during my absence. I've said it...

Begin Here. When finished, Go Here. And Lastly, continue here. - Spydertrader

At the exact moment I see an FTT, I'm involved in 'other' (more pressing) activities. :D However, I plan to create a few Camtasia videos over the Holidays reviewing the various aspects of the FTT. I plan to use these videos in next year's Journals. In this fashion, a trader can practice...

I'm sorry to hear you experienced such a loss. However, in the future (no pun intended), you'll find that experience invaluable. What you need to do now is forget what you think you know. Forget all the negativity from your last adventure. Forget all those tests you ran on equities. Forget...

The channels you see in my attached charts are drawn in either in advance (night before) or in realtime. If you scroll down to the bottom right of each ES chart, you'll see I captured the screen shot within three minutes of the futs 4:15 PM Eastern Time close. I only add the icons and arrows...

With all due respect (and I really do not want you to take this in a negative light), you have more work to do. You need to make the shift from probabilities and statistics, from Sharpe ratios and profit factors, from wins and losses to the realm of execution. The faster (and more accurately)...

Once you determine MBT's 'open order' policy (where the limit order 'sits') with respect to your particular trading vehicle (equities, futs, forex, etc.) all that remains is to know the particular exchange (NASDAQ, NYSE, CBOT, CME, etc.) policy with respect to 'no heartbeat' destinations...

As requested, the YM.

Much Nicer trends today. Note: If all one ever did was trade the FTT's on equities and futures, you'd make a very nice living. - Spydertrader

Make that nine. - Spydertrader

Every broker has these problems crop up on occasion. In my experience, they happen rarely with MBT. In any event, Any serious trader should have a 'back up' account in place ready to place offsetting or hedge trades in the event a phone call cannot be made to their primary broker - irrespective...

The humor didn't seem obvious to me, but now that you have pointed it out, I stand corrected. - Spydertrader