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I also joined his room for one month just for the hell of it (never logged into a trading room before, wanted to see what people were actually doing in these places)... and I wasn't all that impressed either. He has a hell of a lot of entry preconditions that means that he misses out on a lot of...

$30/day max loss limit? What kind of firm imposes a limit that low? That right there screams out that they are completely inept as a trading company. Next!

It's kind of sad that the US doesn't even have a bank in the top 30...

Whoops, you're right - temporary brain glitch. I was confusing tick size with contract size for a second there. As for who benefits - well, that makes sense now. One of the reasons I will never trade the 30 year. Lots of better places to make money.

I agree - I thought this was self-evident. I can't see why any traders would be cheering this move. For that matter, I can't see why the CME would be dumb enough to do it, either. They are going to lose out on 1/2 of their fees because people will now trade 50% of the contracts they were...

Maybe I'm ignorant, but I fail to see how this is a good thing. The tick size is increasing, which is increasing your slippage. The bonds aren't all of a sudden going to start trading in a value range that is twice as big just because they increased the tick size. In other words, let's say that...

I don't believe you. I don't believe that you bought a new airplane last year, or that you own two expensive cars. (I'm assuming that we're talking Ferrarri/Lambourghini type of vehicles here more so than a BMW or Mercedes, since you seem to think that everyone will be so jealous. I'm also...

Cramer is an idiot. I would rather take trading advice from a hamster.

I was referring strictly to the market comparison. You're right, it's not 1999 from an economic perspective or even from the way that markets are necessarily trading range-wise, but it is similar in the sense that total pieces of garbage like AIG are trading higher than they should be. This...

If you know how to read something, it is not useless. Every indicator ever written is useful at some points, and works well in some market conditions. None of them work 100% in all conditions. The trick to successful trading is identifying the prevailing market condition first and then following...

All price-based indicators are just another way of showing price action. You don't really "need" any of them. However, they can be useful if you know how to read them. You can't just apply a simple formula to Bollinger Bands and say something like: "When the market breaks the upper or lower...

Any stock or index that is moving is ripe for making profits if you know how to do it. On the other hand, if you don't know how to read a chart or read momentum, then yes, it is gambling. Of course I would never hold anything like AIG overnight - that is just asking for trouble.

Maybe so. During the dot com days there were lots of companies with incredibly stupid business plans, no revenue, no profits, and no hope in hell of ever being successful that had valuations in the billions. And they kept going up. Just because the fundamentals say that something is worthless...

It's actually not as bad as it seems, but you have to be careful not to enter at certain points. For example there are periods of time where it's completely crazy and a whole whack of massive buy/sell orders are hitting the market at exactly the same time... you can generally see this right in...

Yeah, I've noticed that too. It doesn't happen that often to me, but when it does it's a real pain, especially if the market is moving fast.

It's all manipulated. This recent 5 month rally is yet more proof that people who trade off of fundamentals generally don't have a clue what they're doing. Anyone with brains only trusts the chart, and that's it. The market will go up as long as the chart and price action says it will go up, and...

When everyone has their party hats on and is celebrating the return of the bull market, it will be time to go short for a big move to the downside. Keep waiting for that.

I agree. What I was really trying to get at is the notion that a lot of people are in trading only for the money, and not because they actually like the idea of trading. I would suggest that those people have a lower probability of success.

I have another copy of NT running on a second computer, with the same internet connection. I can load up one copy with a lot of charts, and the other copy with next to nothing, and I will notice that the price on the copy with a lot of charts will lag the one with nothing under heavy...

I can generally make money during those times, although you really have to be in the right frame of mind - I don't always do it. You have to have hotkeys set up, and basically just read pure price action as it runs to an extreme and then pauses. When it spikes like that and then pauses for a...