ES Journal Archive (2006 - 2008)

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Quote from my2cnts:

Ok let's get something straight here.

1. Lumpy, Ptrdr, Juicy are a traders.

2. I've been having an open dialog with my trading com padres since my IM is on my other machine which is at the shop getting tuned up.

3. No offense given or taken, but trdeqkr I am not your brother. I am the man on the other side of your trade trying to relieve you of your funds. Leave your ego at the door and rise above the petty. Peace.

You all had the pivot times long before the market opened. NOTE: None of these times were derived from a price chart.





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If you are still watching price charts you are 20 years behind the curve.
The market has evolved to a point where on any given day 30% - 50% of the trades are done by a machine. A cold, gutless, calculating machine that is programmed to accumulate and distribute every 2 seconds. No emotion, no stress, unlimited patience. Just the sound of a simple whir and clicking as it goes about executing its array. A machine that has access to unlimited funds and is programmed by some of the brightest PhD's on the street.

The RSI is simply a foot print that the machine leaves on the tape. It is reactive not predictive and works very well in a trending market. However, once the market changes it will start to break down and no longer work much like romik experienced yesterday, (By the way, that is your first clue to the fact that the market may be rolling over).

There are a handful of indicators like the Jint, Tick, Ticki, Trin, Prem, Put/Call that will tell you where the market is going long before it gets there. Indicators that allow you to see what the machines are doing and give you the ability to follow in their footsteps. This is from where I divine the pivot times. Out of the eight charts I watch throughout the day only one consist of price.

As the Markets consolidate and the trading pits become a thing of the past so will the trader that has not evolved with the automation occurring on the street. The machines leave a huge footprint on the tape. Learn to read the secondary indicators and evolve as a trader in march step with the street or be left behind.

I have nothing to prove, just trying to elevate those around me.

That's my2cnts. And like Kaiser Sose I am gone.

Good luck to all.
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I've never seen anything like this before. Amazing, I don't know what else to say here.
 
Unfortunately the moderator inadvertently eliminated these 2 posts which I believe are important to be discussed in further detail by the board members.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1252694>
 

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I believe all of my2cnts posts were removed. I don't know about anyone else here, but I was both shocked and oddly depressed by his posts. He friggin had the market turns timed before the open. Like Romik said...amazing.

Good riddance to porgie's negative energy. May he see the light some day.

Anyone know what the Jint is?

Peace
 
Quote from optionpro007:

Unfortunately the moderator inadvertently eliminated these 2 posts which I believe are important to be discussed in further detail by the board members.
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Using RSI is not 20 years out of phase. It is very successful and I find no reason to quit using it. There are plenty of humans tradng the market.
 
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