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  1. tommcginnis

    Which is better: day trading or trading option strategies

    You are missing the point of your own question -- Risk versus Reward is what we play in this game of Life all the time, every day, going to work for someone else, or trading-for-gain in some asset market. Day-trading can be done for little risk -- and little gain. Options can be bought & sold...
  2. tommcginnis

    Pension funds Rebalancing date

    As t-winks implied, it's a fiscal year thing -- but the key idea is that the rebalancing is *concluded* by that date. It could happen (*does* happen) all quarter long. (And longer!)
  3. tommcginnis

    What is inside your 5 minute candle?

    That's the best use of volume/"POC" stuff that I can recall. :thumbsup::thumbsup::thumbsup: What's the program/platform?
  4. tommcginnis

    Fed raises rates

    No they don't.:p The recession ended in 2009. Do you know what a recession is? :rolleyes: Do you know the difference between a recession and a recovery?:wtf: Do you know what the FED's "dual mandate" is? :wtf: Do you realize (in the least little bit) that while their monetary policy tools are...
  5. tommcginnis

    Invaluable resources to your trading?

    I would invert the order of your sources, and then stop at the first two. Then I would go down to your local 24hour Walmart at 10:30pm and shop for half an hour, and then retire to Waffle House for some ("3-way") potatoes. Oh, and give to your local PBS station. :D
  6. tommcginnis

    Fed raises rates

    In what world do you live? The world where a sub7% GDP growth rate in the second *largest* world economy is seen as recession??? The world where Germany's industrial activity index backs off of 60 is seen as recession?!? The world where domestic unemployment is not sub6%, or sub5%, but sub4%...
  7. tommcginnis

    Fed raises rates

    No. Rates were 0-0.25% for 7 years ("Close enough!), but have risen by just the quarter-point since the first, December 2015. Very steady. Here is a great history... https://www.thebalance.com/fed-funds-rate-history-highs-lows-3306135 ☼ The FED started lowering rates in 2006, from ~5%. ☼ Rates...
  8. tommcginnis

    Fed raises rates

    The market will tell him what he thinks....:cool:
  9. tommcginnis

    The future of Quantitative Analysis: data sources

    Hey, I'm not jealous or anything -- I'm just jealous. :rolleyes::rolleyes::rolleyes:
  10. tommcginnis

    The future of Quantitative Analysis: data sources

    I recall distinctly the moment when I started to think that economics was cool...... it was a basic Price Theory/Chicago School set-up: everyone is rational, full information abides, "choice" is the word of the day.... And along come Giffen goods, Bandwagon Effect, Snob Effect, and the...
  11. tommcginnis

    CFTC charges Chicago-area trader with ongoing forex and commodity fraud

    I just absolutely do NOT understand what makes some people do stupid shit. How could they ('he'?) do this non-trading sort-of-thing, and think that the lack of return would not show up? Do they just not *care* so much? Are *they* so naive to think that their *clients* are so naive, as to accept...
  12. tommcginnis

    Short-term bottom

    UGH! A rising market with all them long-ass tails on top??? Wicks like that scream Market BiPolar Syndrome. And the volume will go to shit by Euro-close...
  13. tommcginnis

    Is scalping still profitable?

    Average True Range comes from ["preceeds!!"] the same variability that gives us volatility, so that, while they are computed in an entirely different fashion, with a bit of effort, they will chart nearly identically. (So, conceptually, they are the same, but computationally, they are different...
  14. tommcginnis

    Is scalping still profitable?

    The video is pretty irrelevant. Except for about two minutes in the middle, when he actually *mentions* price action and the lack or the power thereof. Then he *mentions* expectancy and discipline, and spends the closing minutes repeating their importance. So, in 6 seconds: Yes, scalping...
  15. tommcginnis

    Short-term bottom

    I want to agree (and I DO agree), but I do not have the testicular conviction. :wtf: The last time I looked, a 15 p/e (ttm) would put the S&P at 2350, and we're still 10%-15% over that. :confused: The global economy plateaus.... the U.S. is chugging happily along. The FED continues to shed...
  16. tommcginnis

    The Big Short - Great Movie

    "C'mon, Dick. Come wit' me. 'Lone Ranger' needs his 'Tonto'..."
  17. tommcginnis

    What do you think?

    Trying to find one rule-set by which to trade a 20 year length (where the market might show 4-5-6 different faces) is very much a fool's errand. It'll kill you, AND your account. "Algorithmic Trading" (simply: "Rule-based Trading") is what you've described. But you're thinking that there must...
  18. tommcginnis

    Request advice almost blew up account

    There are three types of hedges -- a duplicative hedge (e.g., SPX vis ES), a mirror hedge (SPX vis SH or SPDN), and the uncorrelated hedge (SPX vix cash or real estate or Lambos). You can find a steel ETF that will move closely with X. You can graph a couple of individual steel makers who move...
  19. tommcginnis

    What is the Most Powerful Candlestick Reversal Pattern?

    WHAT IS THE MOST POWERFUL CANDLESTICK REVERSAL PATTERN? Long wicks. By construction, long wicks indicate a market rejection of the wick's endpoint. Is that an absolute? Absolutely not -- the next period could eclipse whatever that end price was. But the question posed was most powerful. So...
  20. tommcginnis

    What do you think?

    Okay. You're new. You posted a question about something you know so little about, you don't even know the vastly important cues/clues you left out. But as it stands, your question is unanswerable. (Although, 99% of those reading this thread have no doubt what the answer *probably* is.) To...
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