I have bought Al Brooks' Trading Course

Q3D said:
This is not related to the reality of trading, unless you can prove otherwise.
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@Q3D I'll humbly decline your request as we are in the trading business rather than "you show me yours and I'll show you mine" business. In saying that, I respect you skepticism, just like a newer trader has doubts of whether you really make money or not.


Trying to intentionally cut losers short will result in over-micromanagement and exiting of potential winners prematurely with moderate but cumulatively great losses, including commissions, over time. Trying to let winners run will let solid (say 4-6 point ES trades) quickly revert back to your entry price if not stop-loss price as one realizes what appeared to be a new trend was just a higher-time-frame pullback and the long-term trend resumes at your expense.
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Neat analysis there. 2 flows though:

i) I don't, in any way, trade close to what you have described

ii) I don't trade ES. If you go back to my post, I clearly point out that I wouldn't be getting as good a result trading futures or indexes. Those instruments are for the really experienced and HFT algos as there is way too much psychology going on behind the price action. Besides, if it's a choppy day, you have to sit at it's mercy; equities allow you to choose from hundreds that fit your trading profile.
 
Alpha Trader said:
:D:D:D

Orlando actually.

I just can't seem to sleep for more than 3-4 hrs a day. I don't know if that's a blessing or curse.
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Wow, that's not good-- but make the best of it. Ill be staycationing at the Ritz in Orlando 25-27 sept. Never been to the resort. Heard good things
 
marketsurfer said:
...I don't know for certain-- but usually the TA team in an institution like Credit Suisse is part of the Marketing Department. No joke!
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Incorrect.

TA analysts at Credit Suisse work under the "Investment Banking Division" except for 3 particular individuals that work under the "Asset Management Division".

Here's something interesting to think about, after the financial crisis, they did heavy cutbacks and enormous layoffs...none of the TA staff were layoff. In contrast, they got bonuses.

Bonuses were sizable...nothing to laugh (no joke) about.
 
Al Brooks...TA...the "How to Books".,and even Market Wizards...aint the Problem---

Just step in front of the mirror...eyes forward...and you will see CRYSTAL CLEAR...where the REAL problem lies---
 
marketsurfer said:
Wow, that's not good-- but make the best of it. Ill be staycationing at the Ritz in Orlando 25-27 sept. Never been to the resort. Heard good things
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What a shame! I'll be in Quebec City for 2 weeks around that time.

I haven't personally stayed at the Ritz here, but have also heard very good things about them. Since you're staying there, try out Norman's, if you haven't already. Great food!.

PM me if you have any questions as I don't want to wander away from the topic at hand. Enjoy!
 
wrbtrader said:
Incorrect.

TA analysts at Credit Suisse work under the "Investment Banking Division" except for 3 particular individuals that work under the "Asset Management Division".

Here's something interesting to think about, after the financial crisis, they did heavy cutbacks and enormous layoffs...none of the TA staff were layoff. In contrast, they got bonuses.

Bonuses were sizable...nothing to laugh (no joke) about.
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That's news to me. Can you provide a link indicating this? TA used by these institutions to explain
market move to their clients, not to make decisions therefore they are generally part of the marketing departments.

However, I am open to being proven wrong.

thanks,

surf
 
The sharpies at the big banks are embedded in groups like GSAM, Highbridge (JPM), PDT (formerly MS), ... The TA guys (and also the fundy research guys) are for entertainment and promotional value, getting their faces on the tube to keep the bank's name out there, and generating PDFs to keep buyside clients interested and active.
 
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marketsurfer said:
Remember, nearly everyone is using TA. If you think you can discern things that others and computers designed to do such things, can not from the past price chart patterns-- maybe you can--but I have never seen it done. surf
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The same can be said about the use of statistics and computer programming in general. So I'm not quite sure what your point it.
 
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