ES Journal Archive (2006 - 2008)

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Quote from princessa:

or maybe we're all fairly equal genetically (with slight variations of course) and 90% of ability is learned. training from age 3 months = genius, for example, in 90% of humans. stock/finance training from age 5 years = stock/trading genius. piano training intensely from age 3 = piano genius.

it's amazing how people make these genetic assertions about things which could just as easily be learned. i guess they do that because it makes them feel better, like they're superior, or something....


No, we are not all fairly equal genetically at birth and yes the first seven years in the life of a child are extremely important.
In some (many) cases it will take an adult a long time and a lot of grief to overcome the intensity of the input into their formative years and so the two edged sword appears early in the life of some.

Oddly enough, this may give them an advantage in areas such as trading.

Others may have had a wonderful start to life but could not carry through with their advantage when they came up against those born on the other side of the tracks. Perhaps their determination came from their parents and not themselves ... they have yet to kick start their life in a manner of speaking.

Some one mentioned cycling.
Take two people of greatly differing resting VO2 and train them each for maximum performance, leaving drugs aside.

The person with a genetically high resting VO2 level has an enormous built in advantage. simply enormous.

Some one mentioned chess.
Their reaction to been beaten is hardly the stuff of champions and most certainly does not equip them for the game of trading.

I like ET.
I like reading the enormous variety of posts about subjects that both concern and interest me.

Posters interaction with those holding differing opinions is nothing short of fascinating at times.

But no matter how you slice and dice it, trading will always be a pyramid of human achievement.

The pointy bit at the top represents the real Traders.
The upper middle bit equals the sim level traders.
And the huge volume all the way down to the ground contains the Traders lost within their own fantasies.

To be sure, some will work their way through their fantasies and filter all the way to the top of the pyramid, but the majority will never even make it to the second level.

These people face an insurmountable hurdle, namely themselves.

Why is trading so different from another other pyramid of human achievement.

Simply put, there are no entry qualifications, or to put it another way, the bar is set at ground level.

There are no Professors, text books, nor is there an curriculum and worst of all, there are no exams to pass so there can never be a degree or a diploma.

All there that exists is a lousy brokerage statement ( assuming that you get that far).

For some people (make that most people) it is not enough.

It is not enough inducement to make them take fair stock of themselves and want to become their own master.

Wanting to become your own Master is to me the single driving force.

It is the one thing that makes you take stock.
It is the one thing that compels people to open minds, change attitudes, read, study, learn, ask questions.

Oddly enough, I sure that it enables people to enjoy more, laugh more, give more and simply, be more.

regards
f9
 
Quote from tortoise:

pre-market as of now...


might that giant sucking sound be those single prints getting ready to pull us up to 1570?


my hat off to you tortoise for your ability to read your chart.
 
Quote from volente_00:

So will the inverse H and S pull it to 60-61 or do the 58 shorts get paid ?


Well we have nice opening gap shaping up here but it doesn't seem like opening gaps matter the way they once did....
 
Just an FYI for the few of you that trade futures on TOS. For two mornings in a row now the TOS quotes have been about 2 minutes behind. They fix them after I call and let them know, but I just wanted to let you know to do a quick check with Prophet quotes before you trade to see if they are having issues.
 
beautiful fade with a gap right into Resist with a double confirm...TL & confluence.....pyramidid right into zone ,including hi tic......scaling out as we move down.

edit: playing it conservative by covering a bit early but this thing could easily go coast to coast on 30 min channel.
 
I believe that once this little pullback consolidates a bit, we will go much higher today.

Going to make a daytrade here. I will buy 2 contracts at 1555.50 and attempt to get 6 points per.

Edit: Order cancelled when we bounced off 1555.75.
 
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