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  1. tommcginnis

    Renko candles

    With a Japanese candlestick, you have four pieces of information per teeny bit of screen real estate. With Renko, you have two. Would you trade better with: *more* information, or less? :wtf::confused::cool::D:D:D
  2. tommcginnis

    Do you need to understand where the edge comes from?

    A reminder: Kevin Davey is an ET sponsor, has been around the block, and although I have not had need to investigate deeply, others apparently have. (To wit: tradingschools.org ) Between Mr. Davey and the free-to-use abilities of https://www.tradingview.com/ , no one should labor under any...
  3. tommcginnis

    Time for me to start trading options! Looking for more info...

    From eBay, see if you can snag the videos from Optionetics. tastytrade has a deep library, although they have 'outlook' problems that screw with newbs. (Things like, "News/world events don't matter." or "Trade small; trade often" without explaining that their nauseously over-used "number of...
  4. tommcginnis

    Combining Day Trading with Swing Trading

    If you're trading a 1-minute candle, a "trend" could be 10-15 minutes long. If you're trading a 5-minute candle, a "trend" could be an hour or more. ... So: 1) don't let your [choice of] time frame lend you any tunnel vision that excludes other time frames. 2) if you are T/A-based, you will be...
  5. tommcginnis

    Do you need to understand where the edge comes from?

    Not me, bro, in the least. But most people conflate random walk of returns with random walk of prices, and then conflate a problematic random walk of prices with an impossible declaration of The Markets Are Random. Whoa! Is that you? I don't know, but you've brought this up out of thin air, so I...
  6. tommcginnis

    S&P 500 Earnings Season Update: October 26, 2018

    Even given that a long-term p/e would have us ~2350-2400? Yup. Still.
  7. tommcginnis

    Does trading really need imagination or inspiration?

    As simple as "trading" seems, the story of most conversation between traders is just so much like the blind men 'touching the elephant' -- where each one describes firmly what part they grasp, but have no idea about the rest of the beast. :wtf: Option markets? Tick scalping? Trend-trading? Tech...
  8. tommcginnis

    Chart Porn

    There you go! (It'd look good as a stained glass piece -- good colors, good symmetry. Have you thought about mixed media? Glass, maybe? Glass and little solar-powered L.E.D.s? Yeah. Yeah...
  9. tommcginnis

    Ideas on different Earnings variables.

    https://en.wikipedia.org/wiki/Tobin%27s_q In a phrase, "What does management bring?" If higher, the market price indicates an over-the-average faith in the management over time. If 1.0, "nothing special." If lower, "it's time to go." I have not done a study, but I would bet that there is a...
  10. tommcginnis

    Combining Day Trading with Swing Trading

    Again, here's where the hell of trading two mindsets comes in. Again, here's where it's so..... mind-grind relieving to have a rules-based system, and to simply stay with the rules that you have tested and in which you have faith. From the sympathetic posts above, you have company...
  11. tommcginnis

    Chart Porn

    Hey man, even Jackson Pollack puts a title on the thing! Throw us a bone here... :confused: :D
  12. tommcginnis

    Combining Day Trading with Swing Trading

    And what will you do when your 1-second or 1-minute trade goes to 1-hour? Two hours? :confused: Maxinger's phrase comes to mind: "...like serving 2 masters." There are lots of ways to do trade a rules-based system, and if you can develop one for that first hour you have, and then key up...
  13. tommcginnis

    Ideas on different Earnings variables.

    I'd put in a ratio of Tobin's Q, to segregate the market into levels of earnings-surprise-likely versus earnings-surprise-not-so-likely. This (or some of your others -- like P/B) could really steer some insight as to a lot of the others (immediate IV, for example). Good luck on this -- it...
  14. tommcginnis

    8% drop in the next 14 days for the S&P 500

    "Interesting forecast!":rolleyes: But let's not let any facts confuse us..... https://www.elitetrader.com/et/threads/s-p-500-earnings-season-update-october-26-2018.326381/ :D
  15. tommcginnis

    It's time to short the market.

    versus
  16. tommcginnis

    No trade zone

    120 minutes!!?? Look at a 1day candle chart for the last 6-12 months. Notice anything special about the last month? This 'correction' is gassed; BTFD; if you trade next month, based on what 'worked' on paper for this past month? You'd be sc-rewwwwwwwed. :wtf: If you're average hold is 120...
  17. tommcginnis

    Why aren't VIX calls more expensive right now?

    Volatility is not just keyed by a down-motion, but instead what keyed the down-motion itself. Thus, with the market undertaking a controlled descent, no wild volume swings, negative issues known-and-being-responded-to, the actual uncertainty itself remains rather fixed. Hence, a climb in the...
  18. tommcginnis

    About to blow up my account...help?

    If you think you've learned some lessons, though -- write 'em down, and right away. They cost you six figures. That's Ivy League, right there. https://bennington.edu/admissions/apply/financing-your-education/tuition-and-fees
  19. tommcginnis

    Investopedia: Scalping

    This is from Investopedia? Wow. Maybe the best I've seen from them. Great little summary. One little addition (that's very implicit, but should be explicit): that direct access needs to be cheap cheap cheap. Fast is good. Fluffy stuff not so much needed. But cheap cheap cheap. A mouse (and...
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