ES Journal Archive (2006 - 2008)

[Spooz Top]

treas. sec Paulson on tv speaking about inevitable recession......news feel very heavy today & won`t take much of a catalyst to dump this market overnight.....which is where the move is usually stolen from shorts is on the overnight if you`re not already short.

 

[dmartin]

Quote from fearless9:

Sir,

I refer you to JJ's earlier post when he made the excellent point that this game is all about yourself.

If something makes perfect sense to you, then you have just convinced the only person who matters in your trading day.


regards
f9

That's very funny and is absolutely wrong. The dogma you are alluding to comes from the so called experts in the trading world (it’s all about you). Solitaire is perhaps about you but that's about all. Every business in the world is an engagement with other people. The market place is a conglomeration of millions of people and our interaction with one another. If you mean we are responsible for our own actions and the consequences as a result you have no argument with me. That said, the game of trading and for that matter all businesses are relational unless you live in a cave and simply talk to yourself.

All The Best, DMartin

 

[kinggyppo]

Under technicians I have to add in Elliot, John Murphy, and Welles Wilder. There are many others, my point is that we all start somewhere. Good trading.

 

[fearless9]

Quote from dmartin:

That's very funny and is absolutely wrong. The dogma you are alluding to comes from the so called experts in the trading world (it’s all about you). Solitaire is perhaps about you but that's about all. Every business in the world is an engagement with other people. The market place is a conglomeration of millions of people and our interaction with one another. If you mean we are responsible for our own actions and the consequences as a result you have no argument with me. That said, the game of trading and for that matter all businesses are relational unless you live in a cave and simply talk to yourself.

All The Best, DMartin

ahhh, the perennial question as to whether trading is social pursuit as in mainstream business, or is it a solitary one.

I imagine it is whatever you care to make it.

 

[elovemer]

it needs to move above 56 to be confirmed doesn't it ?
apex at 56.5 ?

Quote from Spooz Top:

Bulls are doing it ....& putting in there diamond/reversal,imo...
nice thing about diamonds is they`re patient reversal patterns more often than not.

 

[dmartin]

Quote from fearless9:

ahhh, the perennial question as to whether trading is social pursuit as in mainstream business, or is it a solitary one.

I imagine it is whatever you care to make it.

If trading and the market place were not relational who would you trade with?

All The Best, DMartin

 

[increasenow]

Quote from jagmot:

I had heard of the rule of 100 (although I don't subscribe to it) before I found ET and say before the Dow was higher than 10k. Now it seems more like the rule of 1000. Market bounced off of the 14k (YM) level quite well both yesterday and in after hours. Market made another bounce today in RTH before breaking it. We will see if the market can hold above the 14k mark today, although I do not see it happening.

Short ES 48.75
Edit: stopped out

what is the rule of 100 or 1,000?

 

[fearless9]

Quote from dmartin:

If trading and the market place were not relational who would you trade with?

All The Best, DMartin

Allow me to describe what I do because you seem to be lost inside academia, whereas I am only a simple Trader.

I trade for money, nothing else.

Every working morning, I sit in front of my screen and enter and pull brackets until I have my daily quota of net tics.

I talk to nobody about what I do nor how I do it. The procedure is totally electronic.
I can nail those tics within the first hour or it may take a little longer ( not much)

Trust me when I say there is nothing social about what I do.

If you choose to socialize the electronic entry of my stops into the cme, then that is your call, but it would be fallacious thinking on your part to assume that I share the same belief.
I do not.

 

[volente_00]

Quote from Spooz Top:

you will never read anything of value or worth while in any book (except douglass) but generic,regurgitated nonsense.

i actually have 2 sources for you.in the late `90s when i started trading & gathering as much info i could muster,i turned to an educational service called idx ventures....good service & learned some but took alot of heat shorting a bull.when vol was wild back in the day 30 handle/300 point dow swings...i started calling the 10/100 rule x 2 & 3 for the regular 10/100 measurment that he would always mention.

#2....when i traded prop in `99 for a firm here in northern NJ, i was fortunate enough to be situated at the top desk & across from me was the best trader in the pack,also named steve.
along with equities ,he would trade diamonds & Spy`s in sick size....as i mentioned the 10/100 rule to him,thinking i was showing him a thing or two,he showed me this entire algo based on fib,10/100 rule & some ma`s.....that would kick him buy/sell signals...especially during hi vol times,it sounded like a pinball machine going off.

i`m not doubting that you fell on this discovery yourself through many hours of observation but i need to inform you that you certainly did not invent it.....as i`m sure it`s been around long before i started in `97.......i do not use 10/100 rule just for the sake of using a 10/100 move but i need a couple of confirms to coincide to take a trade off it.

i`m glad you`ve asked me this so we can finally put this thing to rest once & for all as this thing has gone back & forth a few times.

I was just curious because I came across it from searching for correlations in the Dow back when I used to trade WMT in late 90's. I mainly thought it was attributed to programs going off at those levels. I never said I invented it but I was the first to ever post about on ET long before you posted on ET. Why do you think it has not been talked about in any trading books ? What do look for confirmation, the reason I ask is more often than not the signal shows up at extreme spikes up or down and if you don't pull the trigger you end up chasing the move. My biggest flaw with the signal is on trend days but on chop it is high probability $.

 

[JimmyJam]

Quote from dmartin:

If trading and the market place were not relational who would you trade with?

All The Best, DMartin

Believe it or not.

The best trading takes place in your mind, long before you ever push a buttom on your DOM.

Trading is a psychological exercise between you and your subconcious mind.

Good trading,

JJ