Search results

I began in the same way you did, but over time I discovered that my temperament doesn't suit pounding out endless .10 moves. I still find the tape to be incredibly valuable, but I don't rely on it to discover where buyers and sellers are but rather to time my entries and judge my risk. Once...

Waiting for the breakdown out of this triangle any day now. Made a lousy $200 today and it took hours of staring at two crawling positions. The setups I usually like have been rare this week.

Oh I understand what you mean now. Sorry for the digression. :)

This may not help much, but if you use eSignal you can chart simple formulas by putting a space between operands and operators. UNH / $SPX typed into a summary window for instance, overlayed by $SPX, might be a simple solution.

I used to scalp, now I trade for .25 minimum, with my better trades running about 50 cents to a few points. Lot more calm and interesting in my opinion. Here's an old thread that gives some insights into how to read the tape, at least how it used to be. Keep in mind it's likely to be less...

I agree fully. When I started, tape reading was a bit more straightfoward and I knew seveal people who exclusively relied on that method -- decoding the specialist -- as their technique. It's definitely on its last legs, and it's not really addressing the core principles of trading. It's...

Good to see you're getting on well there since the last time we talked, Fadertrader.

Good lord, quite the narrative. Allow me to just clarify a few things. There are times when a large bid is indicative of buying pressure. There are times when it is not, and is: 1. posted to encourage short term buying pressure to fill the dominant institution/specialist/trader who is...

After watching what he's written over the years, he's seemed like he has a good track record in investing and possibly teaching others, and might have a genuine concern for helping others with his knoweldge, but I just find the tendency to meander without being direct or clear rather unhelpful...

I must admit, I find your writing style impenetrable. I also see no refutation of Steve's statements, with which I agree, just somewhat vague assertions that it is a myth and he is sitting on a branch. If you could explicitly counter the notion that often firm bids lined up on Level II are...

It sounds like they're teaching you the standard scalping, tape reading NYSE stocks style. Tape reading is complex and takes a while to absorb. Right now, if you're buying on dips on 52 week highs and nothing beyond that, besides looking for leading indicators, you're unfortunately lacking...

Just a note. A few people are dogpiling on you for their own reasons. It is completely irrelevant. Try not to feel the need to prove to yourself or anyone else that you can make it back. I know it's nearly impossible to disassociate your self-esteem from your P&L, but if your self worth...

I think Don for years has done a good job of representing his firm respectfully and honorably. More principals should be following his lead.

Yes. I'm from Nigeria, son of the recently-deposed foreign minister, and if you give me your bank account number I will transfer the funds into your care. Afterwards I will personally come to China to secure the deal on a handshake.

All true, except for this statement. I could pick several NYC firms and get 50:1 or even 100:1 leverage with what I do right now. But I understand their conservative business model that protects them. It's the perfect firm for those who have 25k-50k and don't need more than 10:1, rather than...

Heh, no tape this time. The reason I chose candlesticks is pretty obvious. One extra dimension of visual data via the open and close allows you to incorporate japanese candlesticks analysis into finding tops, reversals, continuation patterns, etc. To do that with bar charts requires an...

Excess capital? Interesting. Thanks for the account.

Right, he told me the same. I just try to keep tabs on the prop firms out there, and FaderTrader seems like a pretty upstanding guy. But as far as I know they're pretty new. I personally am a bit hesitant when it comes to new firms as their leverage would likely be less stable and their...

How safe is Benchmarq though? Aren't they relatively new? How do you know the management is trustworthy about returning your funds and not at risk of regulation or "blow up" issues?

Keep asking, a lot of people trade with Genesis. Genesis has terrific software (the NYSE issue was relevant a while ago, but not really now) and it's true that they will match any substantiated commission rate. They are straightforward, competitive, and you can't get a better deal elsewhere...