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i'm saying that (imo) intelligence is rarely the limiting factor, and it is not particularly important for a good trader (unless he is a heavy quant type dood) i think "emotional intelligence" and discipline much more important

im long oil, because it only looks like a big selloff on the short term time frame on a 5 yr weekly chart, it is a nice healthy pullback to a trendline, it is a good market hedge and all it takes is iran or something to totally see the thing take off

"It is widely known that academic types usually make lousy traders- but I doubt that's the real reason. " oh, i think it is. spend some time around academic types. academic types usually have their engines in massive cognitive dissonance overdrive mode. we are talking a group of...

"When I speak of smooth, I am refering that YM can be pushed easier than ES due to liquidity, this makes it choppy, whippy, prone to false breakout break downs," but what u see as "false breakout/downs" i see as tradeable moves in and of themselves, since i mostly scalp it i almost never...

sometimes i wonder why it seems (at times) like the market is such a frigging ATM machine. then, i read about people who go long 16 contracts with NO STOP and call their trade a guaranteed sure thing can't lose trade. nothing has changed in the entire history of 2 way auction markets...

"The LT ratio of successful traders to unsuccessful traders haven't changed in a loooong time. For as long as I can remember, it's been somewhere around 5-10% successful - at best! The unsuccessful 90-95% aren't exactly idiots either. Traders are usually some of the most intelligent people out...

emily dickenson said "hope is the thing with feathers" maybe hope is the thing that is long 16 contracts with NO stop lol the market doesn't move cause it wants to, it moves cause it has to the biggest moves aren't fueled by people jumping on board a train, they are fueled by margin...

people of course can. the disadvantage of course is that the drop (if not merely a low liquidity downward spike) could have been the beginning of a much larger drop, and then the person would be holding the bag with a huge loss, since their stop didn't hit and get them out. like everything...

"the liquidity in ES is what makes it smoother compared to YM." i find the YM smoother than the ES, but i realize "smoothness" is not exactly a precisely measurable and quantifiable thing, nor could we probably even agree what 'smoothness' is apart from the superior spread (one reason I...

"Nothing wrong with ES at all, except for current dead volatility and no-range persistence. When she opens up to normal ranges, ES is perfectly fine." what is wrong with the ES, (at least for scalpers) is the spread 4 ticks of ES = 10 ticks of YM spread matters. it is a HYOOOGE cost...

lol "no stop in place" classic, so if the market dumps 200 pts, he can then say "took a stop at -20" whereas if it falls, then turns around, he can claim he held and added at the low iow, bull if you can't call out your stop UPON entry, it's a worthless call imo means...

oh, and btw dow mini is now 12347. so, are u down 30 points on 16 contracts that is 2400 loss/ still holding? since you didn't post yer stop, it's kind of disingenuous cause you can make stuff up after the fact

if yer gonna post an entry and a "sure thing" (lol), then post your STOP as well

"If you're bullish gold then I'd re-think selling your home" i loaded gold in 1998 before i even knew what trading was. i knew everybody hated it, and it was hella cheap (on a valuation basis), etc. I am also swingtrading gold, but the time to get in was when gold was in the high...

"For all the talk about the dow and sp, gold has gained amost triple." and gold is still exceptionally cheap by all metrics available.

"So many people were bragging about how much $$$ they were making and how SMART they were. " a bubble is a bubble is a bubble. no difference between dutch tulip bulbs, gogo nasdaq tech stocks, or real estate when EVERYBODY thinks you can't lose (in real estate, etc.), it's a sure thing...

yes. divergences between the indexes are often telling of future price action

not to mention that this drop was a big opp if u set a limit order to buy at a lower level. every 'stop run' spike, or whatever is an entry opp, just as much as it is a "get stopped out" opp for people already in. i have limit orders in 3 different markets right now. they might NEVER get...

this is a logical fallacy. it is called extrapolating from the individual, to the whole. just because YOU found ES impossible to trade intraday does not make it so for others. Also, *why* ES? fwiw, i have tested my setups (I trade YM) on the ES. While they still have positive...

personally, i trade intraday index futures scalps for income. but... i LOVE trading (or in many cases, INVESTING) on a longer time frame. what i have found is that in longer time frame, there are some great edges to be found in fundamentals, that obviously don't exist when intraday...