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I almost agree entirely. Volume is only a concern if you're trading illiquid markets- you don't want to move it.

Picking tops/bottoms is not necessarily antithetic to trend trading. For eg., former market wizard Gary Bielfeldt picked the low in the Bonds in 1984 and held the trade for 2 years!!

How about brokerage firms. If they go under, what would happen? Will it be similar to prop firms?

Very funny book. Highly recommended.

Maybe in 15 years.

This guy could be the next "guru" from reading his bio. "Michael Parness went from homeless and living on the street to owning the $treet." Quite a transition.

Sometimes the market will seem correlated with movements of other markets depending on the psychological state of the marketplace. Money supply, interest rates, war, etc... now it's crude oil. Interesting that recently the market will go up on a decline in crude oil, YET will hold its place...

Gann's not as hard to understand as it is to apply. Analysis is one thing, and the reality of what happens is quite another. A little bit of Gann knowledge can be a very dangerous thing!!! The trader who can consistently apply Gann, et al. is very rare, and I would surmise that successful...

"If you were the unexpected beneficiary of a $500,000 estate tomorrow, what would you do with the money? " Invest in stocks 248 votes (26%) Invest in bonds 49 votes (5%) Invest in high-yield bonds 36 votes (4%) Invest in emerging markets 39 votes (4%) Invest in...

But yah, I admit I didn't read that carefully.

"The following are the warning signs of a possible online-trading addiction: · You're a thrill seeker and enjoy the challenge of trading as much as — and maybe even more than — making money. · You're a big risk-taker, willing to gamble large sums of money on a few stocks. · You...

I believe prior to 1987 puts were relatively undervalued for volaitility. After that, volatility was consistently priced higher for puts than calls. Hedge that worked in 87 might not have worked as well later on.

I think it's good to do some scaling. You have a sense of how far the trade can go, and if it reaches there then you take some off the table, perhaps 1/3 to 1/2 of your position. At the same time you readjust your stop. If the market moves against you, at least you've locked in some profit. If...

Generally I agree that it's a good idea to stop trading following a big drawdown. You need your emotional balance back. Otherwise, you might feel compelled to want to make it back right away and do something stupid. Also, it feels good to clear out the positions and just relax once in a while.

That sucks dude. But NG is a scary market to go short, and one day you'll be glad you got out early. Warren Buffett once said he had no interest selling short, and should you do so it's probably better to sell something like the stock indexes, which are broadly diversified (but I wouldn't do so...

Sorry, don't mean too be caustic, but just telling you the truth. The market is an even harsher teacher!!!

Just wondering are there traders on ET that incorporate cycles espoused by Bradley Cowan's set of books for possible shared research collaboration/analysis.

Papertrading with awesome results? Wow, sounds like my paper trading when I was in high school long ago. Let me tell you are in for a long ride when you finally start real trading.

Jack Schwager's "Market Wizards."