Search results

It seems a popular argument in favor of the US Dollar is that there is not an alternative. It was fortuitous that the US was ready as the UK declined. That does not mean that the world will be lucky twice in a row. Confidence is eroding in the dollar and in fiat currency in general...

Just took a look at today's five minute CL. Tough day to end green. Nice work.

Since size is not an issue -- I wish it were -- I take it that the tendency ES has to retrace makes it the least attractive to you. Why do you trade CL over 6E ... is it just volatility? And is the volatility more important than "clean" to you?

Since I adamantly do not believe in a random walk, I need to believe in something! Yes ... I think they do have fractal structure.

If you were intending to Intraday Swing Trade off a five minute chart -- say a four point target in ES and about the equivalent in the others -- which would you choose ... ES, 6E, CL? And why?

James, You are getting a great deal of high quality advice here. More than most get and that is because you are being taken seriously. I don't know that I am qualified to give you sophisticated advice so I will simply repeat the earlier, basic advice I offered. DO NOT INCREASE YOUR...

I assume you've read Al Brooks' book? What is your opinion? What instrument(s) do you trade?

If you are trading 3 contracts in a $5,000 account your risk of ruin is simply to high. Two is a stretch but three is just nuts.

Ghost, To some degree fiat currency has lost its appeal. Do you see paper continuing to decline vs precious metals and hard assets in general? And do you see paper potentially free falling in a rush toward other stores of value?

I don't agree. In a hand, a day or even a month there is certainly a high component of luck. But over the course of a career there becomes almost no significant component of luck.

Fair point. Good to hear they are doing it right.

Anyone who lived through the fall of '08 and saw Merril within 24 hours of failure that is not considering that ANY and ALL firms could fail is simply living in a fantasy world. None of this is meant to imply Advantage is not sound. Firms are sound today and crippled tomorrow. History is...

Treasuries (TBills), as I am sure you know, frequently serve as a proxy for cash margin. They want to be able to go to cash. I believe having the bills is a more "perfected" step in segregation and since that is all a client has as protection in a failure I think it is not to the clients...

I believe a BP America bankruptcy filing is a near certainty. The questions are: 1) When? 2) Will they file a 7 or an 11? I know on first glance the 7 looks ridiculous but think about how much less time and effort is involved with proclaiming right up front this entire pool of assets...

There is no edge in picking "off" time frames. There may be time frames in which a a given instrument is currently behaving in a way that suits your style. If so use it while it works.

Please define a "fast chart".

Yes, that is why you can't be tone deaf!

I want the CEO to realize that when 11 men have died -- possibly as a result of his firms negligence -- that saying "I want my life back" might be just, as the English are fond of saying, "a tad inappropriate". To me that is "tone deaf".

I won't (can't) defend the writing. It is B_R_U_T_A_L! But it is still worth wading through. The more for real a trader is the more it provokes you to come up with some great plays to add to your playbook.

Neither am I. It was a very simplistic book that got some of the simple wrong. I also do not believe 2008 was a "black swan event" yet that does not mean I do not believe in that nature of event. I did not pick the SN as a reference to his book but rather as a reference to the nature of...