Forecast for 25th & 26th Aug'03

Sharp,

Just to keep this thread small and relevant to Monday and Tuesday's forecast I will suggest posting analysis of friday's chart on the other thread. Do not in any way interpret this as avoiding any kind of discussion.

2. Please read the guidelines to use the forecast in first post of this thread. As these are valid for this.

3. The analysis of wether I made money or lost money on friday is posted on the other thread.

I have shown how I made 30% in options on friday and approx $1000 in Futures trading on friday, including wrong signal (which FYI I did not play as market action did not convince me)

Abhay
 
Just to prove how I played Friday based on my forecasts, I am posting some trade records... I do not wish to continue posting unecessary posts here.



Ok! How about this trade record....

First trade bought on 21st , 4 @7.9 Avg and sold for 9.9

Second Trade bought PUTS 2 @7.10 and sold for 8.10

Please do the math and let me know.

------------------------------------------------------------------------------

08/22/2003 01247021903 Sold OEBUT 2 8.10 1,620.00 13.99 - - - 1,606.01
08/22/2003 01246956637 Bought OEBUT 2 7.10 1,420.00 13.99 - - - 1,433.99
08/22/2003 01246919126 Sold OEBIA 4 9.90 3,960.00 16.99 - - - 3,943.01
08/21/2003 01245953113 Bought OEBIA 2 7.70 1,540.00 13.99 - - - 1,553.99
08/21/2003 01245918611 Bought OEBIA 2 8.10 1,620.00 13.99 - - - 1,633.99


Please post if you believe this record. This is from Ameritrade.
 
Do you know where I got this from?

The Interview
How did you get started in trading?
I have a really interesting story on how I got interested in the markets. I went to college, like most everyone else, and I graduated with a degree in business and economics. I moved out to the Philadelphia area and worked as a claims adjuster for Prudential Property and Casualty Insurance Company. I was just a wage slave. One of my hobbies at the time was fishing. Every weekend I would pack up my rod and reel and go to the river, stream, or ocean. On one of these trips, I met a guy who was about my age. I noticed he was wearing very expensive Italian leather shoes. I thought, “Why is this guy wearing these shoes while he’s fishing?” I also noticed he was driving a new Jaguar, a car I wanted but could not afford on my salary as a claims adjuster. I wondered how this guy was able to afford these things, so I started talking to him. He explained to me that he was a "trader." Not knowing what that was, I asked him some more questions, and he explained further that he traded the OEX index. While in college, in the weeks leading up to and during the crash in 1987, he turned $10,000 into over $900,000. That really perked my interest in the markets. I asked him if he’d teach me, and he took me under his wing. His approach to the markets was so unusual. First of all, he was an astrologer.

He was an astrologer?
Right. And he was also really into Gann Analysis. He used a Gann Wheel, and claimed he used it to predict the ’87 crash. Of course I thought it was insane. I just didn’t believe it. But then he took me to his house and showed me where he lived, and I was very impressed. He taught me his way of reading the market: Gann, Elliot Wave, and astrology.




Quote from sixthbeast:

see my reply in your other thread abhay.

I truly wish u the best of luck, cause i beleive it's all u got going for you.

Anyone remember the story in "Trading in the zone" where the technical analyst is telling this veteran pit trader that the price of wheat has bottomed for the day. He gave numerous technical reasons why this level would not be broken.

The veteran pit trader picked up the phone and said "short X million bushels of wheat at the market."

Needless to say the level was shattered and the market moved substantially down.

A forecast or opinion is only a guide, not something to act upon. Only act upon it when the market reacts to that level as expected.
More...
 
I believe there are better avenues to learn how neural nets could help your trading.
I believe abhaystack is very keen to get subscribers to his website.

As an aside, good educators emphasis (no matter what their techniques) is on discipline and risk control, not %winners or $$ made.
 
Quote from everytick:

I believe there are better avenues to learn how neural nets could help your trading.
I believe abhaystack is very keen to get subscribers to his website.

As an aside, good educators emphasis (no matter what their techniques) is on discipline and risk control, not %winners or $$ made.
More...

Neural nets are way to technical, ...

ttrader
 
Is anyone going to short this market today?
According to PulseScan this E-mini S&P 500 Futures contract has had it!!! We could see some major selling in the September contract today.

I included a copy of the PulseScan Swing VIX Indicator. You may find it helpful.

:mad:
 

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