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:p Is that the trader's way of buying a round for the boys?

QQ re trading today I see a lot of bars on the 2min and even 5min which have shot up on huge vol only to close at or below their open price. How should we interpret this? The ones I'm thinking of today happened (on the 5min) at 10:00, 10:55. In other circumstances, I'd have figured...

I came from the corporate world where most of the time I was doing things which were actively immoral. I refused to work on "educational" projects which were basically designed to con schools out of money. Yeah, so some corporation makes a couple bucks, but it came at the cost of ignorant...

Typical Christian arrogance. And typical Christian ignorance. Matt 19:21Jesus answered, "If you want to be perfect, go, sell your possessions and give to the poor, and you will have treasure in heaven. Then come, follow me." 22When the young man heard this, he went away sad, because...

I think the biggest problem that you're facing is in thinking that Jack is giving a method. I don't think that he is. He's teaching a system, giving us the indicators, principles and concepts and letting us devise our own method based on this. Spydertrader has his method and I'm sure the...

I'm not a futures trader, but something similar happened to me. I started by trading equities and after a relatively short period of time, my account grew ten-fold after I sold some property. I tried to think in terms of percentages, but this didn't work well. How could it? I'd spent months...

That's more or less how I see it. I'm only adding the observation that markets which seem illiquid and noisy on one fractal become smooth and liquid on another. Once you find the fractal which represents sufficient liquidity, the FTT will work.

I think the key is "liquidity" as a stand-in for regularity. Some contracts or equities move far too choppily at the 5 min level so you have to step back or you'll be lost in the noise. A friend who trades forex said that there are so many games played that the 2hr or 4hr are the fastest...

In the spirit of introductions, I wanted to share this <a href="http://elitetrader.com/vb/showthread.php?s=&threadid=30568&perpage=40&pagenumber=3">quote</a> from Jack: For making money, everyone has a choice: A. learn when you cannot make any more money in a price changing trend or B. do...

I've seen a couple of posts by Jack on the subject. From what I gather, he says that the DOW is a smaller basket of stocks and the smart money uses it. I'm not sure I buy this. I do see that the YM is more volatile than the ES and so I can imagine that this allows it to act as a clearer...

I've been trying to wrap my head around the claim that the YM leads the ES and I can't do it. I just don't see why this should be the case. They're highly correlated, that's for sure, but I don't see why one should lead the other. Let me propose an alternate explanation and see if someone...

Alright. I don't know where we're going, but I'll trust you and do what I can to follow. This is a strange, disconcerting place to be. I'm learning just enough to see how ignorant I am, but haven't yet learned enough to see my path :) FWIW, for others like me, I found the <a...

Spyder, In your summary for beginners, you said something like trade in the direction of the FTT until: 1. You reach another FTT (then reverse), or 2. You reach and FBO (then exit [beginner]), or 3. You reach a BO (then hold). Looking at today's chart, there are a boatload of FTTs...

I just started trying eSignal. It's about the same price as QCharts with many similar features, but it also allows you to save the tick data and replay it. This has been a huge eye-opener for me when trying to review stocks/futures and to learn to draw channels in real time. I've been going...

I'll try to join everyone in the chat room tomorrow. Equities are not behaving well right now and it sounds like a good opportunity to develop other skills. I think it's kind of funny that people want these threads distilled to book form. I understand that it would be nice to swallow a pill...

I was a Computing Science major in Uni. I spent ten years in industry, occasionally trying to invest but getting badly screwed each time. I finally got a free seminar with InvestTools and I saw that you actually don't hold for years. That was an eye opener, I'll tell you. After that, it was...

I heard someone mention that many traders make sure that their wives own the house to limit the downside of bankruptcy.

What about joining a prop firm? When you sign up, your liability is limited to the amount that you deposit with them. You take the risk that you lose your deposit when other traders blow their account, but I suppose it could give you protection if you blow up.

That sounds like a very good idea. Day trading the futures would be for extra income, I don't want a Black Swan event to end my career. Some deep OTM puts might be just what I'm looking should I start trading larger size. Thanks.

Well yeah, I'm using a broker stoploss but you know, just "what if". 600 is extreme, but if each ES point is $50 (I think) then it would only take 40 points to take out someone that was fully leveraged. What happens then?