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OK. Sorry if this has been covered before. I did a glance through the psych threads, and couldn't find it. I'm curious, why do traders feel the compulsion/need to call market tops and bottoms. It seems we cant go a day in here without someone saying that "THIS HERE is the absolute high in US...

Good article. Thanks for posting it !

I took a 2 month vacation to the world of warcraft. The addictive part to me was being in a guild. It was very team oriented, so once I was in I wanted to help teammates and such. Being into trading, I got addicted to the economics of it too. During the course of my stay, I actually...

For me, it was the same stupid crap that gets everyone in it. The introduction to Elder's book "Trading for a Living" sounded so alluring. I was burnt out working for the man at my IT job....figured it would be easy to make the same amount of $$$ as my own boss trading. I'm still...

Well, since there seems to be interest, here is the 12/14 breakdown on 1-50 lot trades: Whats interesting is that the numbers 5, 10, 25 stand out in the tails. Guess traders like multiples of 5s ! Bin Frequency Percentage 1 15649 39.15% 2 5676 14.20% 3 2333 5.84% 4 1807 4.52% 5 3162...

I was looking at volume stats for the ES for yesterday 11/14/06. During the 8:30-3:15 session, we traded about 1,104,928 contracts, and that volume came from 45,190 trades. Of that, 39922 trades were 50 lots or less, with small trades making up 88% of the trades. Those trades, however...

Heh. Its funny. We get some volatility coming back and all of a sudden conspiracy theories abound. "I'm getting chopped up dip buying !!! The guys in the black helicopters must be doing to MANIPULATE the market !!!" I guess I'll give my rampant speculations on to whats going on...

When I see a big number out there like -75,000, I dont think that 75,000 new short positions have been established. But I do think its often the case that a decent % of the delta comes from daytraders trying to ride a big move, and thus opened new shorts on the way down. I'm not going to...

Not to mention the market was VERY net short on the day. At its low, the market delta was at something like -75,000 contracts in the ES. Anyone who initiated new shorts and didnt want to go home short had to cover.

Thanks to everyone who took the time to post their ideas to this thread. Looks like I have some reading to do tonight !

I was wondering if anyone who has read Mind over Markets can help me out here. Can someone explain the difference between an "Open - Test - Drive" opening and an "Open - Rejection - Reverse" opening ? Is the difference simply that in the rejection opening, the market travels further in...

I suppose the flaw in my thinking is not bitching about having a 4-6 tick stop requirement, but rather that I need to be better about placing my trades such that 4-6 ticks of heat will prove my trade idea wrong. I just get frustrated. When I'm selective about my trades, I feel I get...

We dont have many ES traders right now. I'm one of a handful of guinea pigs in a sim room. My goal at the moment is getting 4-12 ticks per trade with a high win% or at least a low losing %. I'd say average winner I'm shooting for is 6 ticks.

Oh, I call a tick a box. I guess I just got used to calling them boxes, because each tick is graphically represented as a "box" in a market depth window.

Hey All, I have a question for the ES daytraders out there. I'm curious what is the max heat you will allow yourself to take ? The firm I'm at wants me to dump/hard stop at 4 boxes, and it seems I'm always getting stopped out at a disadvantageous price. Just wondering if 4 boxes...

My guess is because most programmers are intellectual elitists who see themselves much smarter than Joe Boo on the street(and, for most activities in life *are* smarter than Joe Boo), and they get the "If I'm so smart, why aren't I rich" thoughts running through their minds. Additionally...

Well. This is it. I've finally made it to the final hurdle that will determine whether I can make it as a trader or not. And that hurdle is my own psyche. I'll admit that when I first got into trading, I thought the psychological aspect was all a bunch of hooey for people too weak to...

hehe. Yes. It is all about the little tricks. If you see the bid quantity flash 50-2500-50-2500-50, someone is trying to spook the market with fake size. If you see 50 bid, and a ton of selling going into it and the market isnt moving, there is a maximum show order lurking there, just...

Arrrrrgh. I got taken in by the total sucker play today. Setup: It is a Fed day with a bell shaped distribution, mean at 1384.50. There are supports in the 1383.75 and 1382.75 range. I buy 2 83.75s and 2 82.75, for a mean of 83.25. Apparently a lot of other people do as well. We are...

LOL...great reply.