Search results

I would have to agree and if you put two traders on the same strategy you'll get two different results. A pure mechanical system will lose its edge over time. Trading requires talent, not just number crunching, chart reading, or whatever strategy you choose.

+1. Very well said. The key to trading successfully isn't based on an indicator or some preset critieria; it's based on intuition -- call it a 6th sense -- and that can only be developed through time and experience if it can be developed at all. Douglas talks about this in his book "Trading...

I wonder why they didn't issue a statement like this when the SPX bottomed at 666? Any fool who follows what this racket recommends deserves what they get.

Pensions for cities and states are unsustainable. I recently did a tax return for a retired firefighter and he's pulling in a 72k annual pension. Multiply that by every city/state employee and you are a recipe for disaster. My old man worked as a carpenter for 40+ years and his pension pays...

I've noticed the discrepancies are more isolated to the uncovered (basis not reported to the IRS) transactions rather than the covered (basis reported), even though the basis for the uncovered are provided to the trader/investor. What we're doing in our practice is reporting the covered...

The MACD is like any other indicator -- open to interpretation and trading results are based on the talents of the trader and not the indicator. File the MACD with all the indicators in the category or generally useless unless interpreted by a trader better than all other traders.

Rates are going to stay at zero at least until the election is over. That being the case, the market will continue to go up. We should get a tradeable post-election correction but if rates are held at zero we may not even get that.

This is just something you have to accept as the difference between being a trader or an investor. In theory, the $'s you missed on your stock going to the moon will be made up on your next play. The way I settle this issue is having a trading and investing account. The investing account...

I agree but the point I'm trying to make is that with the passage of time that type of area becomes less significant. If a stock takes 5 years to get back to a previous congestion zone most of those sellers are likely to be gone so the stock could move through that zone more freely.

Probably the best way to explain why is the amount of time that is elapsing between what you are using as a reference point for your entries. For example, if a stock is trading in a symmetrical or ascending triangle that spans 3 months the prices and activity within that 3 month period is...

Can't find my example of an unfilled gap. Will post later if I can find and I have time. In the meantime I'd suggest a good book on chart patterns -- edwards and magee or murphy. Never read murphy...I went straight for the jugular with e&m. Great book but a lot to read and absorb. Reads a...

Flipped thru some of your charts and I wouldn't play any that I've seen, which doesn't mean your method won't work. Just that I wouldn't play them. I've been tradinig b/o's for a while and what I look for is a clean chart, unfilled gaps (will post an example of that next), and symmetry. ESRX...

I bet someone once said that about a VCR, 8-track players, cassette tapes, an old Chevy engine that put out 200 horses, and so on, and so on. The iPhone will become a dinosaur one day just every other man-made innovation. But Hey! We're still waiting for a better mouse trap :) Someone WILL...

Goldman was calling for a "Super Spike" to $200 so they could create enough volume to exit their crude positions. The current situation is a little different. If supply is disrupted then it's entirely possible for Crude to go to $150, or above. WTF is taking so long for cars to come out with...

Bingo! If the job market was as robust as the White House is stating Bubble Ben would be able to raise rates to a level consistent with a healthy economy and job market. Rates are at 0 for a reason and the White House is releasing reports like this..... for a reason -- election year!

Without going into a long discourse on the topic contraction of the banking system where there are only 5 major players can only be a bad thing as it will create a monopoly/oligopoly in the industry run by a small group of powerful men with a profit seeking agenda at the expense of the...

This kind of frenzy happened with QCOM back in the go-go days. No one knows when AAPL will come down but it will come down. A simple study on economics and competition ensures it.

While this is true I would recommend using IT because you have to consider what the competition is doing and they definitely use more than a pen and a piece of paper. The best thing that happened to my trading career was a Master's in Quantitative Finance. The biggest mistake people make who...

By the time November rolls around the unemployment rate will be in the area of 6-7% as Obama proclaims, "we're on our way to full employment." Jobs for everyone!

You've nailed it with the subconscious mind. There's so much to trading successfully that happens subconsciously. If you can develop your subconscious you become one with the market and trading becomes intuitive. I've had many experiences where I've pulled the trigger before the actual...