[b]OLD SCHOOL TRADERS rules and strategies (PIT also welcome)[/b]

A

Andrewagain

INTERESTED in LEARNING OLD SCHOOL TRADERS RULES AND STRATEGIES
The same related to PIT also interested

Good day and nice trading to all !

I will not tell long story about myself (was in stocks in the beginning of last bear was really ok, very simple strategy, each trade minimum +20%, even with longs in bear, just luck, may be :)
then quitted, now back and forced to trade for living, due to account size, around $3k, trade futures.

Used to work hard and red a lot of info, tested/traded and what is really got, that Old School Traders strategies still thing # 1 - that is really working on markets and seems better than anything else. It's simple and powerful.

Unfortunately can not find quite enough and detailed info about that.

Well, your info/ideas/thoughts are welcome on that,
if any, can even team up with some small group (2-4 traders) to research and discuss/share that on longterm basis.

NOT INTERESTED
In
- any kind of bla-bla-bla,
- saying nothing to do with 1 contract lot and $3K
(most of really great traders started with 1-2 contracts and their life was very hard)
- some who thinks that he knows that's it, but not quite sure (wrong info)
- some who want to tell something or starts to explain, but unable to complete or make clear what he states (that quite the same bla-bla-bla, if you unable to finish what you started you are welcome in kids saloon)

WELCOME
All who really wants seriously and on longterm basis research/share/discuss/optimize/learn further all stuff related to the theme of the thread
And most important THOSE WHO TREAT TRADING AS PROFESSION, NOT GAME/FUN

P.s. I had already PM discussions of that theme with some great persons here in ET and really enjoying it, but opening that thread because need more info (as much as possible) + interested to meet those with similar targets.

Krgds,
Andrew
 
KIND REQUEST TO ALL

Please read carefully opening text of the thread and not write such posts.
Don't waste your time and space of my thread ! :)


Quote from TreadmillTrader:

Everything I learned I learned on my own so I am not going to share for free any worthwhile rules and strategies

Nor worthwhile longer term opinions for that matter

Respectfully

TT
More...
 
ABOUT SECRETS...THOSE WHO HAS SOME SECRETS WHICH THEY DON'T WANT TO SHARE - PLEASE DON'T SHARE.
The truth is simple (I know it from my 12 years background in business) if you are not professional you think you have secret and try to save it by all means as Holy Grail. The real professional has not any secrets and all things seems so simple in his hands, because his is Professional and merely knows that him will win anyway, anytime, anywhere and that's also not secret. The answer is simple, he knows the rules, he follows that rules, he works more than other and he has discipline desire and courage to continue. That is main secret.
And others fail just because them don't want, can't follow that simple rules.

SO, IF YOU AFRAID TO SHARE YOUR "SECRETS" please keep them with yourself, because it means just 2 things or that's worthless or you are not professional

P.s. In business usually makes a lot of hype those guys who really can't do a lot and need hype to cover that :D :D :D
 
Formula 1:

Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3
Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low

Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)

Resistance Level 3 (R3) 3 = 2 * PivotPoint + (Yesterday's High - (2 * Yesterday's Low))

Resistance Level 4 (R3) 4 = 3 * PivotPoint + (Yesterday's High - (3 * Yesterday's Low))

Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High

Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)

Support Level 3 (S3) = (2 * PivotPoint) - ((2 * Yesterday's High) - Yesterday's Low)

Support Level 4 (S4) = (3 * PivotPoint) - ((3 * Yesterday's High) - Yesterday's Low)

Formula 2:

Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3

Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low

Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)

Resistance Level 3 (R3) = Yesterday's High + (Yesterday's High - Yesterday's Low)

Resistance Level 4 (R4) = PivotPoint + 3 * (Yesterday's High - Yesterday's Low)

Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High

Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)

Support Level 3 (S3) = (2 * PivotPoint) - Yesterday's High - (Yesterday's High - Yesterday's Low)

Support Level 4 (S4) = PivotPoint - 3 * (Yesterday's High - Yesterday's Low)


Formula 3:


Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close + Today's Open) / 4

Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low

Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)

Resistance Level 3 (R3) = 2 * PivotPoint + (Yesterday's High - (2 * Yesterday's Low))

Resistance Level 4 (R4) = 3 * PivotPoint + (Yesterday's High - (3 * Yesterday's Low))

Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High

Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)

Support Level 3 (S3) = (2 * PivotPoint) - ((2 * Yesterday's High) - Yesterday's Low)

Support Level 4 (S4) = (3 * PivotPoint) - ((3 * Yesterday's High) - Yesterday's Low)


Formula 4:


Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Current Open + Current Open) / 4

Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low

Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)

Resistance Level 3 (R3) = 2 *PivotPoint + (Yesterday's High - (2 * Yesterday's Low))

Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High

Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)

Support Level 3 (S3) = (2 * PivotPoint) - ((2 * Yesterday's High) - Yesterday's Low)

Support Level 4 (S4) = (3 * PivotPoint) - ((3 * Yesterday's High) - Yesterday's Low)


Formula 5:


Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3

Resistance Level 1 (R1) = (PivotPoint * 2) - Yesterday's Low

Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low)

Resistance Level 3 (R3) = PivotPoint + 2 * (Yesterday's High - Yesterday's Low)

Resistance Level 4 (R4) = PivotPoint + 3 * (Yesterday's High - Yesterday's Low)

Support Level 1 (S1) = (PivotPoint * 2) - Yesterday's High

Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)

Support Level 3 (S3) = PivotPoint - 2 * (Yesterday's High - Yesterday's Low)

Support Level 4 (S4) = PivotPoint - 3 * (Yesterday's High - Yesterday's Low)


Formula 6:
(Camarilla Pivot Points)

Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Current Open + Current Open) / 3

Range = Yesterday's High - Yesterday's Low

Resistance Level 1 (R1) = Yesterday's Close + Range * 1.1/12

Resistance Level 2 (R2) = Yesterday's Close + Range * 1.1/6

Resistance Level 3 (R3) = Yesterday's Close + Range * 1.1/4

Resistance Level 4 (R4) = Yesterday's Close + Range * 1.1/2

Support Level 1 (S1) = Yesterday's Close - Range * 1.1/12

Support Level 2 (S2) = Yesterday's Close - Range * 1.1/6

Support Level 3 (S3) = Yesterday's Close - Range * 1.1/4

Support Level 4 (S4) = Yesterday's Close - Range * 1.1/2


Formula 7:
(Tom DeMark "Pivot Points")

If Yesterday's Close < Yesterdays Open:
X = Yesterday's High + Yesterday's Low + Yesterday's Low + Yesterday's Close

If Yesterday's Close > Yesterdays Open:
X = Yesterday's High + Yesterday's High + Yesterday's Low + Yesterday's Close

If Yesterday's Close = Yesterdays Open:
X = Yesterday's High + Yesterday's Low + Yesterday's Close + Yesterday's Close

Pivot Point (PP) = X / 4

Resistance Level 1 (R1) = X / 2

Support Level 1 (S1) = X / 2


Formula 8:
(Frank Dilernia Pivots)

Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3

Resistance Level 1 (R1) = PivotPoint + (Yesterday's High - Yesterday's Low) / 2

Resistance Level 2 (R2) = PivotPoint + (Yesterday's High - Yesterday's Low) * 0.618

Resistance Level 3 (R3) = PivotPoint + (Yesterday's High - Yesterday's Low)

Support Level 1 (S1) = PivotPoint - (Yesterday's High - Yesterday's Low) / 2

Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low) * 0.618

Support Level 3 (S3) = PivotPoint - (Yesterday's High - Yesterday's Low)


Formula 9:
(Shadow Trader Pivots)

Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3

Resistance Level 1 (R1) = 2 * PivotPoint - Yesterday's Low

Resistance Level 2 (R2) = PivotPoint + (R1 - S1)

Resistance Level 3 (R3) = Yesterday's High + 2 * (PivotPoint - Yesterday's Low)

Support Level 1 (S1) = 2 * PivotPoint - Yesterday's High

Support Level 2 (S2) = PivotPoint - (R1 - S1)

Support Level 3 (S3) = Yesterday's Low - 2(Yesterday's High - PivotPoint)


Formula 10:


Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3

Resistance Level 1 (R1) = PivotPoint + SQRT(SQRT(PivotPoint))

Resistance Level 2 (R2) = R1 + SQRT(SQRT(PivotPoint))

Resistance Level 3 (R3) = R2 + SQRT(SQRT(PivotPoint))

Support Level 1 (S1) = PivotPoint - SQRT(SQRT(PivotPoint))

Support Level 2 (S2) = S1 - SQRT(SQRT(PivotPoint))

Support Level 3 (S3) = S2 - SQRT(SQRT(PivotPoint))


Formula 11:

Pivot Point (PP) = (Yesterday's High + Yesterday's Low + Yesterday's Close) / 3

Resistance Level 1 (R1) = 2 * PivotPoint - Yesterday's Low

Resistance Level 2 (R2) = PivotPoint + Yesterday's High - Yesterday's Low

Resistance Level 3 (R3) = R1 + Yesterday's High - Yesterday's Low

Support Level 1 (S1) = 2 * PivotPoint - Yesterday's High

Support Level 2 (S2) = PivotPoint - (Yesterday's High - Yesterday's Low)

Support Level 3 (S3) = S1 - (Yesterday's High - Yesterday's Low)
 
Very good, Mr. Again. Fill the chart with a sufficient number of possible support and resistance levels and you return to discretionary trading because price is liable to reverse anywhere. And just to be clear, it is possible to have a valid secret or secrets and still be a non-professional. If ever price reverses on your chart and you can't fathom why, it is because there is a secret on someone else's chart, maybe even that of a non-professional, heaven forfend. Merry Winter Solstice. As an afterthought, my benediction leaves out ragheads, who perversely selected a calendar that does not admit of solstice celebrations.
 
Fleming,
The idea of post SECRETS was to avoid secrets here.
Here WELCOME those who want to share, to think, to research, to learn, to teach, to become better.
Replying to yours
(((Fill the chart with a sufficient number of possible support and resistance levels and you return to discretionary trading because price is liable to reverse anywhere. )))
Agree, but we are not talking here about discretionary trading, we are talking here about rules and boring trading work - following that rules.

If some pivot point formula don't work, may be it's just wrongly used or some additional conditions to be kept in mind to have that working good.

(((it is possible to have a valid secret or secrets and still be a non-professional.)))
The main feature of profession under the name Trader is to Make Money, if that secrets makes money for that trader, why you treat him like non-professional ? :D
But...I afraid THERE ARE NO SUCH SECRETS IN TRADING which are not known to more or less wide group of professional traders :)
AND EVEN IF TO SHARE BEST KEPT SECRET - it still will work, why ?
BECAUSE YOU NEED DISCIPLINE TO FOLLOW RULES, without that anything will fail and trading will be just gambling.

So, you are using Pivot Points, right ?
Are you ready to share formula of them ?
 
The old school trader still rules the market

By David Ruisard on August 28, 2008 1:11 PM | No Comments | No TrackBacks

An interesting thing happened while oil climbed past $100 barrel.

Suddenly oil, like most commodities, became the new red hot business to chase. People who previously would have joined investment banks, chased dot.com startups or traded bonds are now trying to tack their Harvard and University of Chicago MBA sheepskins to the world's trading benches.

But will these well pedigreed traders be able to push the old school traders aside?

Hurricane Gustav's appearance indicated a changing of the guard will not be coming any time soon.

Gustav's steady march through the Caribbean towards the Gulf of Mexico in the waning days of August brought the old-school traders out of the wood work and proved that a dinosaur's know-how can still work the fossil fuels better than an excel spreadsheet.

Gustav's assault on Hispaniola Island managed to push the whole distillate market higher from Monday to Tuesday. Was the market poised to pop?

"The young punks puke early," said one long time trader. "This thing is miles out there. Trading when a storm is coming is like being in a gunfight and shooting wildly in the general direction of your opponent before you're in range. Then, the slow and steady hand picks you off by shooting you in the head."

The Barrel is still not entirely sure what that means. But if he was implying the market was over-hyped early on and the rally was premature, it appears he was correct.

USGC product cash market began a correction Wednesday that trended into Thursday morning with all distillate differentials (except Ultra Low Sulfur Diesel) pushed under Tuesday's peak values.

Or, as yet another colorful longtime oil trading fixture said:

"The market is going to come off like the glide slope of a greased crow bar."

That's the sort of old school color commentating they don't teach in business school and is never found on an Excel spreadsheet.

TrackBack URL:
http://www.platts.com/weblog/oilblog/2008/08/28/the_old_school_trader_still_rules_the_market.html
 
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