ES Journal - 2019/2020

[vanzandt]

Has the call lost money?

No, but nor did it "explode" up. There was no "massive up-move".
I pointed out last month that the options pretty much have it range-bound for the next 12 months at least and like I said, those guys don't give away money. Most of the time at least.

Not that it matters B1, but I think by definition "trades" are short term. If you think xlf is one for the IRA and not to be touched for the next 10 years, you should designate it as such. But to say something like:

"The massive upmove in financials that had it's beginnings last week is now afoot and is ready for an absolute explosion upwards."

... and 2 months later it hasn't budged.... in this case, you were wrong and I was right... as I told you from the start it was going anywhere, up or down.

We're traders here. If I make a stock pick for granny, I designate it as such when I write it. This was a trade, and it never came to fruition. Own it B1, you were wrong. You've made some good calls, but this one wasn't one.

 

[speedo]

It's quite amusing that you want to close this argument regarding the simplicity of algorithms referencing Jim Simons and his Medallion Fund which most likely uses very complex math and strategies.

I read the book and I agree it's a great read, but I don't believe there was any reference to 5-minute charts, but it was said that they saw improved results going from the 30-minute time frame to the 5-minute time frame.

Remember - a chart is only a visualization of one set of numbers. Quants generally don't analyze charts. They are more likely to use math and statistics.

Very little is known about what Medallion actually do, but I would be very, very surprised if their core strategy is based on 5 minute chart patterns.

Then read it again as you missed it, not surprisingly.

 

[speedo]

This place is a fucking idiotfest.

 

[Buy1Sell2]

No, but nor did it "explode" up. There was no "massive up-move".
I pointed out last month that the options pretty much have it range-bound for the next 12 months at least and like I said, those guys don't give away money. Most of the time at least.

Not that it matters B1, but I think by definition "trades" are short term. If you think xlf is one for the IRA and not to be touched for the next 10 years, you should designate it as such. But to say something like:

"The massive upmove in financials that had it's beginnings last week is now afoot and is ready for an absolute explosion upwards."

... and 2 months later it hasn't budged.... in this case, you were wrong and I was right as I told you from the start it was going anywhere, up or down. We're traders here. If I make a stock pick for granny, I designate it as such when I write it. This was a trade, and it never came to fruition. Own it B1, you were wrong. You've made some good calls, but this one wasn't one.

Massive move upwards in financials Has begun . I remain long financials.

 

[syswizard]

I highly recommend reading The Man Who Solved the Market, a book about Jim Simons and the Renaissance/Medallion Funds.
Moral of the story, the biggest whale in the sea wrote algo's off 5 minute patterns which were in the market long before they entered the arena.

I did read the book which was great, but I don't remember the mention of the 5 minute bar length. I do remember the average win rate of 52% though.

 

[vanzandt]

This place is a fucking idiotfest.

Have you seen the # of new members that have been signing up in the last month or so?!

"The massive upmove in the idiotfest that had it's beginnings last month is now afoot and is ready for an absolute explosion upwards."

 

[virtusa]

Can somebody take a screenshot of the page where it was mentioned?
That would end the discussion.

 

[Laissez Faire]

This place is a fucking idiotfest.

You’re making a silly argument and call people idiots when your naive reasoning is questioned.

It really says a lot about your character and these last few posts of yours show you have a lot to learn still.

 

[vanzandt]

Massive move upwards in financials Has begun . I remain long financials.

B1...
That's like saying the record cold winter in California Has begun.
Don't be a dummy.
XLF won't see a 25% move up from here until mid to late 2021.
Case closed.

 

[Gaslight Capital]

Can somebody take a screenshot of the page where it was mentioned?

There is a very strong setup here for big upmove rest of day. Financials still poised for this as I indicated the other day. They will lead the way.