Forecast for 25th & 26th Aug'03

[tntneo]

thing is, usually when a trader makes money he does not tell you exactly how. if only to delay the inevitable time he will lose his edge.
usually vendors tell you how to trade, since that's a sure way to get money, as opposed to simply trade.
statistically -and I bet you know how statistics are important- methods or signals available on the market is either :
- not working and simply a way to make money (for the vendor).
- working somehow, and the vendor is front running his clients.

CFTC reports are full of vendors fined for misrepresenting their records, logs, signals and methods.

if you are legit, you will be the first one we hear about here.. and I bet we'll apologize. but based on statistics, experience of trading and simple common sense, it's unlikely.

 

[T-REX]

Quote from tntneo:

thing is, usually when a trader makes money he does not tell you exactly how. if only to delay the inevitable time he will lose his edge.
usually vendors tell you how to trade, since that's a sure way to get money, as opposed to simply trade.
statistically -and I bet you know how statistics are important- methods or signals available on the market is either :
- not working and simply a way to make money (for the vendor).
- working somehow, and the vendor is front running his clients.

CFTC reports are full of vendors fined for misrepresenting their records, logs, signals and methods.

if you are legit, you will be the first one we hear about here.. and I bet we'll apologize. but based on statistics, experience of trading and simple common sense, it's unlikely.

What do you think is the best method for a trader, vendor or otherwise to get noticed without offending, overspeculating, spamming, or just straight out fudging a bit?

Should they post thier trades in real time?
or shoud they post thier entry points before the market opens?

 

[inandlong]

Please accept and respond to criticism in a professional manner, regardless of how it is presented to you. If I were considering subscribing to your service, reading the way you respond to the concerns and requests from the other members would be a turn-off.

A very good example on how to do it is found in Don Bright's journals. He has taken heat around here for years, yet his replies ae always professional, humorous, disarming, etc.

Mecro is tough, but he is a no-nonsense scalper. But he is way easier on you than many others will be. And if you cannot take critique from WarEagle, then you should not expect to prosper here at all.

db' might have the best idea about moving this to Journals. It will still be on the front page. I just hate to dump a thread on Magna that is requiring a lot of moderating.

 

[Mecro]

Quote from abhay:

Sample from Mecro's post.

I hope you will stop preaching here until you understand trading.


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

Mecro

08-17-03 07:47 PM


I lost bout half of my first 1000, half of it to commissions.

But at least I learned a lot.

Are you kidding me????

Haha I made that post about my first ever investing/ trading experience over 3 years ago.

I'm being consistently profitable everyday scalping in a time when most cant even break even. Yeah, I'm talking about this month. You, on the other hand, do not even trade, post ridiculous charts that are nothing like what really happens and then lie about all these great entries and exits that you made according to ur forecasts AFTER the day has ended. Come on, anyone that has any experience knows that you are lying. Only newbies, looking for that magic edge, are supporting you.

Come on abhay, keep on posting these charts, I want to see if you even get 1 right.

 

[abhay]

First of all everyone take this out from your mind that I am posting everywhere with a request to subscribe to my service. There is nothing to be said on this, no one is a fool and you get people only if they see that there is something which is better than anything available to them and if they can prosper from it. I don't have to do any explanation on that.

All I am doing is *contributing* something in a place where all the commentators have done zero amount of that.

I take all comments from war very nicely, but asking him back to do the same thing is not in appropriate.

Actually we all can benefit from his experience if he can post any system or method in real time which makes money consistently. I promise I will be the first to adopt it if it is good and consistent...

But if he does not post that does it mean that he does not trade ??

Or he should stop trading because he does not have any system or because he does not post his real time trades here ??

Or does it mean he should not follow the method he is currently following ??

Trying to lay a level field for everyone...

The objective is to find anything that can help me do my job better than what I have currently....

And if anyone else has, please I also like to see it posted in real time on this forum...

I do not mind a new thread....

 

[dbphoenix]

War, he's never going to get it. If the thread isn't going to be moved to Journals, just take a deep breath and go to your quiet place

 

[inandlong]

The objective is to find anything that can help me do my job better than what I have currently....

Okay. Then it is a journal. I'll move it now. Goodluck!

 

[Walther]

Quote from WarEagle:

abhay,



These are the types of problems I've had with all "forcasting". If we sell down the whole day, the forcaster can say "look at how my forcast predicted a down day...the planetary mumbo jumbo was much stronger than I anticipated and thus the move was more powerful than first expected so you really should have made a bunch of money with it today..."

That is why all of this is no good without a trading plan built around it with some rules.

Forecasting what is market going to is ,at most ,accurate in about 60 %
Forecasting when is market going to do something can be done with better then 80% accuracy.
Main thing is that there must be a solid method in place and forecasting will filter out most of the unprofitable crossovers, divergences , breakouts and whatever else is used to generate signals.
Walter

 

[maggandre]

Quote from abhay:

I will make trades upon confirmation from Market technical signals as mentioned in previous post.

PS: Charts for 26th may be revised based on 25th action.

Did you revise this anywhere? Market is rallying big into the last hour...

 

[EMini-Player]

Quote from maggandre:



Did you revise this anywhere? Market is rallying big into the last hour...

Yea...what's up with that. I just lost all my gains from this morning and then some

-FastTrader