harrytraders s/r
- Thread starter harrytrader
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I smell you like a rat at 100 km: you are a friend of Prince Philippe - who has clearly affirmed his racism againts french so that the motives of all his attack is clear - you are absolutly not interested by any technical answer but only to spoil this thread by provocating me and as I answered below I am rather willing to frustate you by not answering and ignoring you (aka in the black hole of my ignore list):
http://www.elitetrader.com/vb/showt...&perpage=6&highlight=harrytrader&pagenumber=2
http://www.elitetrader.com/vb/showt...&perpage=6&highlight=harrytrader&pagenumber=2
First my model is based on an econometric modelling so it is far less divination that all the supports and resistances I could draw by nose .
Secondly this particular case is a pattern called FORCING:
http://www.elitetrader.com/vb/showthread.php?s=&postid=373434&highlight=forcing#post373434
I prefer the term forcing to CRACKING ZONE because there are cracking zone for each scale. You say there are multiple supports and resistances yes it's true BUT there IS ONLY ONE AND ONLY ONE FORCING/CRACKING ZONE. This is where the majority of people - relative to a scale - will lose money that's why forcing = cracking.
The way to trade this is easy when market opens straight below on globex below the precalculated forcing zone - as it did on Monday. Sometimes it's not so easy : the forcing will occur only during the session so you have to be patient.
Now beware when a forcing occurs countertrend are very strong because of retest (so expect retest of all forced zone since there haven't been any retest yet). If you are a novice you can be killed. An example has been march: all marron colors correspond to forced days (!!! the date correspond to the date of calculation of my model for the following session so it is 1 day BEFORE the session):
<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=462174>
The forcing is the LAST (minimum) support so 10107.1 was the FORCING(CRACKING) zone of SCALE 2 on spot chart (green color) : this is the one I gave, and 10063.6 FORCING(CRACKING) zone of SCALE 1 on spot chart (green color). Look at intraday you have even a visible micro-gap around the theorical level of 10063.6.
As said in the link above or in the article http://www.econometric-wave.com/articles/1/home.html.html
"When a target is passed without consolidation it is said to be forced and consolidation generally follows to RETEST THAT FORCING ZONE (generally on globex or within 24h if it happens on hourly scale)."
It is during retest that you can safely reenter again.
Now finished. I won't extend any more since there are so many snakes I don't see why I would lose my time to feed them.
I would like Baron to give the possibility of banishing some people to spoil a thread. Since it's not possible I will go to another forum. I think I have found a more civilised one. It's a european forum and guys like Prince Philippe wouldn't dare to get rid off the frenches like he explicitely express the will in other post.
As said in the link above or in the article http://www.econometric-wave.com/articles/1/home.html.html
"When a target is passed without consolidation it is said to be forced and consolidation generally follows to RETEST THAT FORCING ZONE (generally on globex or within 24h if it happens on hourly scale)."
It is during retest that you can safely reenter again.
Now finished. I won't extend any more since there are so many snakes I don't see why I would lose my time to feed them.
I would like Baron to give the possibility of banishing some people to spoil a thread. Since it's not possible I will go to another forum. I think I have found a more civilised one. It's a european forum and guys like Prince Philippe wouldn't dare to get rid off the frenches like he explicitely express the will in other post.
Although you will have zero chance to find my equations
, for an introduction about the FUNDATION read Market Microstructure: A Practitioner's Guide
Analyst Financial Journal
http://www.aimrpubs.org/faj/issues/v58n5/full/f0580028a.html
Price Formation and Discovery
Price formation, the process by which prices come to impound new information, is a fundamental topic in microstructure.
The Crucial Role of Market Makers. By virtue of their role as price setters, market makers are a logical starting point for an exploration of the black box within which a security market actually works. In the traditional view, market makers passively provide "immediacy," the price of which is the bidâask spread. (Note that "spread" here refers not solely to quoted bidâask spreadsâwhich have been typically small since decimalization in the U.S. marketâbut to effective spreadsâthat is, the true cost of a round-trip transaction for an average-sized trade.) Early empirical research confirmed that effective bidâask spreads are lower in higher-volume securities because dealers can achieve faster turnaround in inventory, which reduces their risk. Spreads are wider for riskier and less liquid securities. Later research provided a deeper understanding of trading costs by explaining variation in bidâask spreads as part of intraday price dynamics. This research showed that market makers are not simply passive providers of immediacy but must also take an active role in price setting to rapidly turn over inventory without accumulating significant positions on one side of the market. Exhibit 1 illustrates this literature with a description of "Garman's Logic."
<IMG SRC=http://www.aimrpubs.org/faj/issues/v58n5/images/f0580028aet1.gif>
I tried to send this to harry on the PM system, but was informed his mailbox was full. Surprise surprise. So perhaps someone could forward this copy of my letter to him.
Regards to the real traders among you. Spit.
Harry
The fact of the matter is this.
You do not answer my posts because there is no answer. There is no answer, because you are not a trader. You want to be one, but you do not have the courage or the ability. Nor, I suspect, will you ever.
You continually post absolute rubbish on this web site, and yet when you are asked a simple, straight forward question you run and hide like a coward. I am starting to believe you are French, since the frogs do have a bit of a history of surrending after the first punch.
Why do you not just accept that you will never make a good trader and give up?
I have seen this sort of thing so many times - all the analysis, all the reasons why a trade should be done, showing us all the proof of wonderful you are, and yet in reality, no trade, no risk, no reward. Harry you are full of shit, and I suspect you know it. Anyone who has the time to post 4000 odd posts on this site could not possibly have time to trade as well.
Just so you have the full picture, there are a few of us who know each other who are phenominally sucessful traders. We have a bit of fun on this web site, and also, when we see someone is being a wanker, we tell them. We also, though you would not recognise it, sometimes offer extremely good advice, and in some cases have actually personally helped traders along to become better at what they want to do.
So you win harry'trader'. We will all quit, PP and bundmaster having been banned. And no, we never were the same person.
So now you can chat freely with your mates about what great ideas you have and what wonderful trades you nearly did without us interupting.
A final note to the moderator. I think these things need to be said, and it would be dissapointing to have them removed. Idiots like this who apparantley win are going to drag your web site down in to mediocraty if you let them, which would be a shame. Still, we've had fun, and those who we actually helped a bit know who they are, so that's good enough for us. At the end of the day this is the easiest game in the world to score.
Regards to the real traders among you. Spit.
Harry
The fact of the matter is this.
You do not answer my posts because there is no answer. There is no answer, because you are not a trader. You want to be one, but you do not have the courage or the ability. Nor, I suspect, will you ever.
You continually post absolute rubbish on this web site, and yet when you are asked a simple, straight forward question you run and hide like a coward. I am starting to believe you are French, since the frogs do have a bit of a history of surrending after the first punch.
Why do you not just accept that you will never make a good trader and give up?
I have seen this sort of thing so many times - all the analysis, all the reasons why a trade should be done, showing us all the proof of wonderful you are, and yet in reality, no trade, no risk, no reward. Harry you are full of shit, and I suspect you know it. Anyone who has the time to post 4000 odd posts on this site could not possibly have time to trade as well.
Just so you have the full picture, there are a few of us who know each other who are phenominally sucessful traders. We have a bit of fun on this web site, and also, when we see someone is being a wanker, we tell them. We also, though you would not recognise it, sometimes offer extremely good advice, and in some cases have actually personally helped traders along to become better at what they want to do.
So you win harry'trader'. We will all quit, PP and bundmaster having been banned. And no, we never were the same person.
So now you can chat freely with your mates about what great ideas you have and what wonderful trades you nearly did without us interupting.
A final note to the moderator. I think these things need to be said, and it would be dissapointing to have them removed. Idiots like this who apparantley win are going to drag your web site down in to mediocraty if you let them, which would be a shame. Still, we've had fun, and those who we actually helped a bit know who they are, so that's good enough for us. At the end of the day this is the easiest game in the world to score.
I find your work absolutely fascinating!You obviously have a mathmatics background.Please keep posting your work because genius like this should be shared with as many as possible.Keep up the good work!Quote from harrytrader:
Although you will have zero chance to find my equations
Market Microstructure: A Practitioner's Guide
Analyst Financial Journal
http://www.aimrpubs.org/faj/issues/v58n5/full/f0580028a.html
Price Formation and Discovery
Price formation, the process by which prices come to impound new information, is a fundamental topic in microstructure.
The Crucial Role of Market Makers. By virtue of their role as price setters, market makers are a logical starting point for an exploration of the black box within which a security market actually works. In the traditional view, market makers passively provide "immediacy," the price of which is the bidâask spread. (Note that "spread" here refers not solely to quoted bidâask spreadsâwhich have been typically small since decimalization in the U.S. marketâbut to effective spreadsâthat is, the true cost of a round-trip transaction for an average-sized trade.) Early empirical research confirmed that effective bidâask spreads are lower in higher-volume securities because dealers can achieve faster turnaround in inventory, which reduces their risk. Spreads are wider for riskier and less liquid securities. Later research provided a deeper understanding of trading costs by explaining variation in bidâask spreads as part of intraday price dynamics. This research showed that market makers are not simply passive providers of immediacy but must also take an active role in price setting to rapidly turn over inventory without accumulating significant positions on one side of the market. Exhibit 1 illustrates this literature with a description of "Garman's Logic."
<IMG SRC=http://www.aimrpubs.org/faj/issues/v58n5/images/f0580028aet1.gif>
P.S.Do you trade or are you just an analyst?
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