ES Journal Archive (2006 - 2008)

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Quote from wave:

Bear Stearns , UBS, etc. These are the supposed "experts". All failed hedge funds. Their traders make fortunes though.
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Obviously as a daytrader i don't rely to heavily on the news as it is displayed in price on my chart. However, i am simply a daytrader and a small fish in this massive ocean. If you are saying swing traders should not rely on a analysis of global macro events and number then i think your wrong.


Sure some funds get it wrong but if your saying global macro events don't drive markets alongside simple micro supply and demand then i think your deluding yourself.

These funds have to acquire massive positions overtime and they rely heavily on macro events as well chart analysis.
 
Quote from mbusch:

L 1481.25
SS 1480.25 (1 point)
PT 1495.25 (14 points)

Small size. Countertrend move. Will move stop to breakeven soon as this one could easily go bad.
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Nice work.
 
Quote from mbusch:

L 1481.25
SS 1480.25 (1 point)
PT 1495.25 (14 points)

Small size. Countertrend move. Will move stop to breakeven soon as this one could easily go bad.
More...
SS moved to breakeven at 1481.25

Last paint 1486.25 for +5 unrealized
 
Quote from Mins:

Obviously as a daytrader i don't rely to heavily on the news as it is displayed in price on my chart. However, i am simply a daytrader and a small fish in this massive ocean. If you are saying swing traders should not rely on a analysis of global macro events and number then i think your wrong.


Sure some funds get it wrong but if your saying global macro events don't drive markets alongside simple micro supply and demand then i think your deluding yourself.

These funds have to acquire massive positions overtime and they rely heavily on macro events as well chart analysis.
More...

All I am saying is that I as a trader or investor using a model can be long the US Dollar and short Crude Oil without ever knowing the macro or micro or anything else. I am likely to be long or short sooner than the fundamentalists. I can also take the top 100 relative strength stocks and make a fortune investing in them and ride the trends with a great model. I really don't need a catalyst or fundamentals to drive my decisions.
 
Quote from wave:

All I am saying is that I as a trader or investor using a model can be long the US Dollar and short Crude Oil without ever knowing the macro or micro or anything else. I am likely to be long or short sooner than the fundamentalists. I can also take the top 100 relative strength stocks and make a fortune investing in them and ride the trends with a great model. I really don't need a catalyst or fundamentals to drive my decisions.
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I agree with what you are saying. However, there are many ways to make money in this market with no definitive answer.

I don't think you should dismiss macro events altogether as many fund managers and HFs have made a lot of money relying on the fundamentals in very long term positions, as well as using models and other analysis.
 
Quote from Mins:

I agree with what you are saying. However, there are many ways to make money in this market with no definitive answer.

I don't think you should dismiss macro events altogether as many fund managers and HFs have made a lot of money relying on the fundamentals in very long term positions, as well as using models and other analysis.
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I agree as well Mins, there are many ways.
 
Quote from wave:

Is this a trading thread or a news blog?

I think there should be eliteanalyst.com as well.
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Wave all those market wrapup posts are to give me an idea of sentiment, news etc. I find it an interesting read nothing more and thought others may as well.

Spectre trades the news and sentiment, that his style.
When I look back on a particular days post it gives me an idea of what I was thinking and sentiment etc.

Same applies for news events it is a warning of possible upcomming volatility and yes trade your system not the news.

You should do a search on your numerous posts and see how much value you provide to yourself or others also ask yourself the reason you are here. I have seen many accurate models look at my2cents time pivots and seen others that pinpoint targets very accurately ( compared to your 90's range) but you know they are out of reach for the average retail trader. Also you have worked at a hedge fund so how much of this model is yours?

Finally you chased off the guy that was providing some usable trading techniques for all of us sheep.

Some need to think about how fortunate they have been. In my city I cannot find another emini trader and there are no prop firms here.
 
Hi BB -

This is not my thread, I did not chase SpoozTop away, the model is my own sweat, and all are free to provide constructive criticism and behave like grown men and women. A great, sharp analyst can be a great asset to a trader. But the trader with a sophisticated model can do without him. I accept the fact that I may be wrong and others have different views. I've worked closely with both sides.
 
Quote from BoyBrutus:

Some need to think about how fortunate they have been. In my city I cannot find another emini trader and there are no prop firms here.
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No shit! :eek:

Oh man, I wouldn't believe it.

Everybody and his kid brother (and his Uncle) thinks they're a trader here in NYC.

Where you at?

JJ
 
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