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You will note that those here arguing conspiracy theory (eg market rigging) have absolutely no experience on which to base their contention. For sure they are not trading or are not being successful in trading markets. What I wrote was that a bottom can be set which turns out to be the...

Markets are not rigged. Those that need this (and other conspiracy theories) are themselves not trading or can't find a way to become successful through trading markets. No one here has any experience of the scale of intervention required to buy and hold a price in a futures market so that it...

The rigor required is not only knowing what you are doing but also knowing what you intend to do. That means (1) having a reliable methodology and (2) following it. CL is volatile and you should be familiar with its metrics if it is the market you trade. This is a market which offers up good...

This is such an old question. Money or happiness? Of course the obvious should occur to everyone. They are not alternatives. You can have one, both or neither. :)

I don't need to copy from any trading book. I have been both a floor trader and subsequently a CEO who ran both a floor trading team and a client liaison team. I have been in both corporate and professional facets of trading in markets. I am an occasional writer at ET who points to just...

Of course institutions and investment banks have advantages in market knowledge, current market play at any one time and money power to deploy. This is WHOLLY IRRELEVANT to the amateur trader with limited capital who wants to make his money in the markets. You as an individual trader have...

There is no such thing as an 'edge'. At best it only means that a person claiming to have an 'edge' has learnt a part more than the parts he thinks he already knows. The whole day session is rich in points, particularly so in volatile markets (eg CL). So the amateur with limited capital, if...

No, not so unfortunately. You may be instead a victim either of mass psychology or simply of inexperience. The market is understood by seeing only what price does each day - it goes up and done. And to harness the markets price gyrations, that is the swings up and down, you do so by devising...

http://www.iitm.com/articles/Stop-Worrying-Yourself-out-of-Profits.htm This Tharp article underlines the point I do make occasionally at ET: that you choose to be a loser. Losing and being a loser is not an accident. Its a result of who you are and what you need. Your most comfortable zone...

Job is the doing or the doing of. But the aim is what you need first: usually at ET this is set as being 'trading for a living'. However, the aim should be to make yourself rich (and as quickly as practicable). How much harder is that? Its not. It only requires compounding; that is...

The key is not the place, its the 'how' of your money. If you have or make serious money, you do not want your home tax authorities sticking their great big shovel into it. To avoid this outcome you must legally arrange your affairs through a tax haven, using corporate or trust vehicles with...

Nothing surpasses the thoroughness of your methodology and its reliability. A professional depth of knowledge and experience adds the polish. And also needed is a robust and relaxed temperament to match your complete amoury of trading savvy. No offence is intended to anyone but it must be...

Insider trading prosecution is a cul de sac. Anyone with experience in business and politics knows that you can deduce the next move both in markets and politics. Often it is easier to deduce what comes next rather than rely on some 'insider' information so-called. Anyone, who for one reason...

And not forgetting the small cox to steer any successful rowing 8. :D

I monitor both duration and time as the trading session progresses. This is particularly important from the opening. I keep comprehensive logs of each day in the form of numbers. This is leagues on from logs kept in words. Logs kept in numbers cannot help but be statistics and through the...

Daytrading is alive and well .. but for successful players only. This is what is not being understood; its all about SUCCESS. Most of everything that takes you to millionaire or billionaire ranking is going to be littered with losers - those that dream of riches and who don't make it even if...

Humans are naturally a parading species at all levels. So unsurprisingly the greater your wealth the more lavish can be your displays of wealth. But you can also mix and match. You can have considerable wealth but you can own a pied-à-terre, live quietly there some of the time, visit your...

Grob (Jack Hershey) promoted a trading system of 3 layers- coarse (eg MACD, stocastic) medium (presumably volume) and fine (eg DOM). That is the list to which he is referring. It would therefore appear he is now choosing to disavow those components or discount them. If so I have no objection...

Grob (Hershey) wouldn’t know. The audience at ET is made up of learning amateurs; for anyone of them to make himself or herself rich from trading, that would indeed be their ultimate prize. While uncomplicated trading is the norm for myself and others, can it be that Grob has stumbled upon...

Amateur backtesting results are illusory, as here, but nevertheless they are a favorite diversion at ET. The data input, being skeletal, is of course insufficient and so correspondingly the results are always deficient or invalid. The usual fantasies of success or riches are entertained on such...