I admire your discipline,, I am trying to copy emulate it,, sometimes i do well other times I get emotional. Fair play.
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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I admire your discipline,, I am trying to copy emulate it,, sometimes i do well other times I get emotional. Fair play.
I was kinda wrong!
Anyway, As you all know, I don't daytrade anymore and I'm still long on my position trade. Sorry for the bad call.
Note: a drop could still come in the next day or two's business etc. At least the possibilty is brewing in my view. The hourly chart is nearing it's double top with weakening indicators. We'll see--it should be interesting to watch!. I am selling a bit more out of the money call premium right now as speak.
Quote from Buy1Sell2:
I was kinda wrong!
Anyway, As you all know, I don't daytrade anymore and I'm still long on my position trade. Sorry for the bad call.
Note: a drop could still come in the next day or two's business etc. At least the possibilty is brewing in my view. The hourly chart is nearing it's double top with weakening indicators. We'll see--it should be interesting to watch!. I am selling a bit more out of the money call premium right now as speak.
They love to make that shake before the drop. I was waiting for an upside breakout @ 1307.75, the hi from about 2 weeks ago. Never materialized. ER- really exploded to the upside though.
I think Spike's system and his approach are an inspiration to all ES daytraders.
Spike's prior posts helped me a lot (without him knowing it) in finding a profitable system to daytrade the ES.
How did he help?
I just reflected on his posts that the most important thing is to find a system that gets you on the right side of the most recent trend.
So, thanks Spike for your contribution to ET.
Hi,
Read a few posts here. Can somebody tell me whether Spike500 system is based on price only or does he have indicators such as MACD? Also, is he a scalper or daytrader? Am considering reading his posts to help me in developing a strategy but it will depend on the answer above. Thanks
Read a few posts here. Can somebody tell me whether Spike500 system is based on price only or does he have indicators such as MACD? Also, is he a scalper or daytrader? Am considering reading his posts to help me in developing a strategy but it will depend on the answer above. Thanks
If you put the time and effort in to read his old posts you would know these answers. He goes into detail how he actually trades.
As always, people looking for shortcuts from actually doing the work themselves.
Quote from LondonUSTrader:
I think Spike's system and his approach are an inspiration to all ES daytraders.
Spike's prior posts helped me a lot (without him knowing it) in finding a profitable system to daytrade the ES.
How did he help?
I just reflected on his posts that the most important thing is to find a system that gets you on the right side of the most recent trend.
So, thanks Spike for your contribution to ET.
I agree. Spike got some supernatural power. I tried to emulate poorly at times. It's gonna take hell a lot more to do what he does. But his message on priority is very clear. Too bad I did not read his posts here today (went to a chat room)... would have helped me stay with my position longer.
Hi Londonustrader,
Allow me clarify something. I have no intent to start any arguments etc with you, just to clarify.
1) I do not trade futures but rather stocks, However, I do follow certain poster/thread that are futures related if I feel that they have something in their posts that may be useful to me.
2) I've read some of Spike500's posts in the past although I was not ready for his posts yet. I've also recently read some of his posts in here and elsewhere and others' comments about him. Obviously something said must have triggered my interest to read up more.
3) Why did I ask the question:
Answer below
1) As I am not futures related and Spike has a lot of posts, I do not want to misunderstand what he is doing with regards to my earlier question about him.
2) When you are 'starting out', there are so much more things to learn, so many more threads to read, market to observe etc, that a little bit of help (1 minute for example), would save much more time for us newbies. Please bear in mind, while we are learning and not earning $ and losing $, there's always a time constraint where we have to live off our savings while learning. I felt that my question was ok as it would have taken 1 minute or less to answer while saving me some precious time and possible misunderstanding. I am not afraid of hard work. I've spent a lot of time digging for information, learning from them and seeing whether I can use/adapt them. As previously mentioned, I just wanted confirmation for something which I feel would take less than a minute for someone to reply and it can save me some uneccessary time (which would be more than a minute). I don't expect anybody to spoonfeed me.Any help of course is welcome.
3) Recently an experienced trader pm me on something asking me some questions which would take him an even shorter time to find out. I answered him gladly. I did not refuse to answer him just because he could have found it out himself easily in a short time and since he's already a good trader, he has more time to spare than me. This is called 'helping out'.
Obviously, you have chosen to lump me into the category of wanting the easy way out. If you really knew what I've gone through to even get to the stage I am in, I suspect you will think twice before uttering the statement to me.Well I certainly disagree with your opinion of me. If you feel differently about this viewpoint, then we have to agree to disagree on this.
Also, food for thought if you so wish to answer me. Something that I read a long time ago and still remember although with paraphrasing:
"There was a man with his children in the train. The children were noisy and rude and disturbed the other passengers, however, the father did nothing to stop their bad behaviour. Many passengers felt that the father was very inconsiderate for not stopping the children's bad behaviour and was angry with him. However, their viewpoint changed from mad to sympathy when they realised the father had just buried his wife that day"
I will try not to answer any more on this matter as I came to Elitetrader to learn and not to fight and certainly not to disrupt any thread.
For the other readers, I'm sorry for this long post.
Allow me clarify something. I have no intent to start any arguments etc with you, just to clarify.
1) I do not trade futures but rather stocks, However, I do follow certain poster/thread that are futures related if I feel that they have something in their posts that may be useful to me.
2) I've read some of Spike500's posts in the past although I was not ready for his posts yet. I've also recently read some of his posts in here and elsewhere and others' comments about him. Obviously something said must have triggered my interest to read up more.
3) Why did I ask the question:
Answer below
1) As I am not futures related and Spike has a lot of posts, I do not want to misunderstand what he is doing with regards to my earlier question about him.
2) When you are 'starting out', there are so much more things to learn, so many more threads to read, market to observe etc, that a little bit of help (1 minute for example), would save much more time for us newbies. Please bear in mind, while we are learning and not earning $ and losing $, there's always a time constraint where we have to live off our savings while learning. I felt that my question was ok as it would have taken 1 minute or less to answer while saving me some precious time and possible misunderstanding. I am not afraid of hard work. I've spent a lot of time digging for information, learning from them and seeing whether I can use/adapt them. As previously mentioned, I just wanted confirmation for something which I feel would take less than a minute for someone to reply and it can save me some uneccessary time (which would be more than a minute). I don't expect anybody to spoonfeed me.Any help of course is welcome.
3) Recently an experienced trader pm me on something asking me some questions which would take him an even shorter time to find out. I answered him gladly. I did not refuse to answer him just because he could have found it out himself easily in a short time and since he's already a good trader, he has more time to spare than me. This is called 'helping out'.
Obviously, you have chosen to lump me into the category of wanting the easy way out. If you really knew what I've gone through to even get to the stage I am in, I suspect you will think twice before uttering the statement to me.Well I certainly disagree with your opinion of me. If you feel differently about this viewpoint, then we have to agree to disagree on this.
Also, food for thought if you so wish to answer me. Something that I read a long time ago and still remember although with paraphrasing:
"There was a man with his children in the train. The children were noisy and rude and disturbed the other passengers, however, the father did nothing to stop their bad behaviour. Many passengers felt that the father was very inconsiderate for not stopping the children's bad behaviour and was angry with him. However, their viewpoint changed from mad to sympathy when they realised the father had just buried his wife that day"
I will try not to answer any more on this matter as I came to Elitetrader to learn and not to fight and certainly not to disrupt any thread.
For the other readers, I'm sorry for this long post.
I didn't mean to sound aggressive. I understand your point of view. I guess my point is that saving time is not something you should look to do, despite the time pressures. It takes as long as it takes. Trading takes years to learn and not something that can be achieved overnight or by taking shortcuts. That is all.
I personally feel the more you get your hands dirty the better it will serve you in the long run. Just trying to help. I am sorry if I offended you.
I don't think you should try and emulate Spike or try to do what he does. That's a fool's game. We all have to find our own way in trading. Remember it took him 5 years to develop his system.
However, it is useful to follow his general principals of trading. Primarily his insistence on the importance of following the trend with your trading as long as possible.
Believe me, I trade very differently from Spike, and yet there may be some similarities as well.
Cheers.
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