Johnny Rotten's method

Quote from Romeo:

and I was the only one who was banned after you for making a stink that you got banned. And I made a real stink about it.

Good luck to you..
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Yeah, the whole idea of a "ban" is so uneccesary, pointless and against the spirit of a good BB. And the way it is applied here is very inconsistent. While it may be OK to pull certain posts (within reason) a total ban should be a last resort and put to a vote. Hand the power back to the members to decide! Cos I don't like a "Lord" deciding anything on my behalf - I prefer to think for myself. There's so many other ways to improve the place too:

- eliminate the post count and member status features. How is such fluff useful? All it does is encourage one-liners as people seek to gain 'status'. Scrap it I say - we should all be just members one and the same. No monitoring of how many times a person has posted. This alone would kill the celebrity culture and facilitate better discussion.
- every month of two, vote on the job the moderators are doing. Some exercise good judgement, some exercise awful judgement. They may be volunteers but if bad judgement stifles an interesting thread, then we all lose. We need some sort of checks and balances. If enough members approve, then a moderator should be able to be stripped of being a moderator.
- member vote on any user ban as above
- I don't even like the idea of deleting posts (guess I'm a civil libertarian at heart). I can see the occasional need to remove crazy wild posts from a thread to keep the thread going, but I'd prefer a "sin bin" idea. One sin bin per forum. Want to see the banned posts from an index futures thread? Go look in the "sin bin" at what was pulled. It'd keep the original thread going and keep the voyeurs(!) and civil libretarians happy. Surely "moving" them is as easy for a moderator as deleting them outright?

That's just off the top of my head but none of this will happen though!
 
I'm waffling on here(!) but I think the "sin bin" idea is a good one. The problem with many (I would even say MOST) threads is not they they get attacked by a guy breaking the rules about bad language ...it's that they get attacked by off-topic posters that turn the thread into a free-for-all by about page 4. It happens again and again - a promising thread simply degenerates.

Suppose an interesting topic is raised, a few guys and gals get into it, then along comes Jack on Page 3 spouting his VDU analysis. Not swearing but taking the thread in a new direction aided by a few interested souls. With a sin bin, a good mod could spot what was happening and pull the off-topic posts into the bin. Jack and those interested could keep going at it, if they wanted, or they could start a new thread. The integrity of the original thread is thus preserved without any heavy handed censorship. Members would soon learn to post on-topic to avoid the bin.

The sin bin idea (maybe with the warning: 'uncensored' so polite people know to avoid it) might also allow members to "play with each other" ...boys will be boys ...in a place other than the main thread; which is where the playing curently takes place. As a side benefit, whenever a user ban is proposed to the membership ...those interested could actually check the supposed violations in the sin bin before they vote.

All this is probably too democratic for a board run by a 'Baron' though! :)
 
Ha ha.

I just KNEW me saying how shitty ES was would bring out a response. Listen, I did not say that YOU could not trade. I implied most people cant. I mean most, like 90%. The people making money off of ES sure in the hell are not doing off of tick charts and 1 minute bars. It needs room to breath.

It reminds me of all the talk in the past about trading the Hong Kong markets. What a joke. Has anyone actually looked at it? Sits still for five minutes, then explodes fifty points in a blink of the eye. Vegas Baby. Vegas.

So, no I did not say you can trade it. But just because a markets exist does not mean one should trade. But that is not what pisses me off. That would be all the DREAM MERCHANTS telling all the retailers that they can scalp ES on a one minute chart.

You know, at the end of the day, there is a solution to all of this. All the big talker can just post a GIF or JPEG of their trading statements each day.

I'll be the first. As soon as todays statements come in from IB, I will SNAP picture them and post them. All the big fucking mouths can do the same.
 
Lighten up dude. For one thing I did not reference my own trading, simply stated that shitty is dependent upon the ability of the trader. But.. I post my trades daily in a live chat room. REALTIME no end of day posting gif files of statements that can be edited by a 13 year old.. I'm doubt that the group would allow someone with your attitude but it is a public room so you could get in pending your posting live trades in realtime. There are plenty who can vouche that myself and other are profitable traders. DAX and ES included. Do you really want to turn this into a pissing contest? If so PM me, I'm not going to turn this thread into crap. We can handle it in a better forum.


Quote from mbradley:

Ha ha.

I just KNEW me saying how shitty ES was would bring out a response. Listen, I did not say that YOU could not trade. I implied most people cant. I mean most, like 90%. The people making money off of ES sure in the hell are not doing off of tick charts and 1 minute bars. It needs room to breath.

It reminds me of all the talk in the past about trading the Hong Kong markets. What a joke. Has anyone actually looked at it? Sits still for five minutes, then explodes fifty points in a blink of the eye. Vegas Baby. Vegas.

So, no I did not say you can trade it. But just because a markets exist does not mean one should trade. But that is not what pisses me off. That would be all the DREAM MERCHANTS telling all the retailers that they can scalp ES on a one minute chart.

You know, at the end of the day, there is a solution to all of this. All the big talker can just post a GIF or JPEG of their trading statements each day.

I'll be the first. As soon as todays statements come in from IB, I will SNAP picture them and post them. All the big fucking mouths can do the same.
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My feeling is that you've gotta be patient and be willing to hold through a lot of noise to make it in the ES (which doesn't suit me, but probably suits others). Trying to scalp a few ticks is a mugs game for sure.
 
Quote from John Lydon:

My feeling is that you've gotta be patient and be willing to hold through a lot of noise to make it in the ES (which doesn't suit me, but probably suits others). Trying to scalp a few ticks is a mugs game for sure.
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Same with the YM. On the very short term, these things are nothing short of random.
 
You're right the methodology is somewhat different, at least on a slower scale than dax although personally I've been having better luck trading retracements on dax than I have with breakouts but everyone has their own game plan. One thing that's different for me with ES is I have many trades that only generate maybe 1-2 points which is nothing compared to DAX as in this morning where I had 2 trades that generated 10-15 points each in just a few minutes. However because of the liquidity I'm comfortable trading about 5-10 times the size on ES that I do on DAX so at the end of the month I generally make just as much money with ES as I do with DAX pulling in maybe 2 or 3 good trades a day on ES for lessor points/trade. I would never put on a 20 lot dax trade but can do so with ES without really breaking a sweat and then partial out quickly to get my risk down to a very minimal amount. Many times I'll get a ES trade going, partial so that I have no risk, then setup ninjatrader to autoscale, turn up the speakers to listen for a ca-ching or a stop and then go downstairs and watch TV. ES trading for me is relaxing :)




Quote from John Lydon:

My feeling is that you've gotta be patient and be willing to hold through a lot of noise to make it in the ES (which doesn't suit me, but probably suits others). Trying to scalp a few ticks is a mugs game for sure.
More...
 
DP, that is fantastic that you can sit in a trading room and make live calls. I really mean that. Not many can. Maybe I will stop by and watch you in action. What is the address?

Not a pissing contest by any means. In fact, not directed at you at all. What it is directed at is all the myths that surround trading and get repeated in forums like this. One myth, since the Pattern Day Trader rule came about, is that ES is a market that lends itself to scalping and quick in and out trading. Another thing not mentioned is that there are very very few profitible futures traders. The fact that you are profitible and willing to show people how you do it during the day a good thing.

But all the the talking, all the theory, all the diagrams and predicting, why dont these people show some actual trading statements? Talk about credibility! Forums, like trading, have a way of bringing out the worst in people. Combine the two, and it really is a string of lies that keeps getting repeated.

One thing I am cognitive of is how many different ways there are to interpet the market. Everyone has different time frames and risk tolerance. But the other thing I am aware of is how many things actually do not work. There are not that many good, consistent ways to make money in the market. I am not a systems trader, but as an example, almost all successfull systems as monitored by Futures Truth are variation on the Donchian Break Out. I could go on all day about this, but there really are only handfull things that work. Combine this with the most important part, managing the trade, and it gets very difficult.

That is what made the orginal Johnny Rotten Trade idea so refreshing on this, or any other, board. Here was a workable idea that actually works in real practice. And when he said that ES may not be the best vehicle for this, he was telling the truth. Not all vehicles are the same. As an extreme example in the other direction, try trading Eurodollars using an intraday breakout system. It wont work.

The prevailing myth is that the Emini is a great vehicle for the retail trader and that all you have to do is pluck down your 5K and start the printing press. I know this is not the case. In fact, I know the ES has tore up more capital than anything else invented. The S&P pit tears up more locals than anyone would admit. They have a survival rate like the Normady Beach, also.

So it is great that you can make real time calls. My intention was to second the initial premise by Johnny that ES just was not that great of a vehicle for some of this. It is not.

Best,

Mike
 
Makes sense. I think I interpreted that your last comment about the "big fucking mouths" was directed at me since I was the only one who had replied to your editorial of Johns comment about ES being a shitty market to trade. Beleive me I have no emotional attachment to ES and if it wasn't paying my a large portion of my mortgage I'd probably agree that it's not tradeable. In fact I do generally do trade DAX up until about noontime, I then switch to ES in the afternoon.

Happiness and good trading to you Mike..


Quote from mbradley:

DP, that is fantastic that you can sit in a trading room and make live calls. I really mean that. Not many can. Maybe I will stop by and watch you in action. What is the address?

Not a pissing contest by any means. In fact, not directed at you at all. What it is directed at is all the myths that surround trading and get repeated in forums like this. One myth, since the Pattern Day Trader rule came about, is that ES is a market that lends itself to scalping and quick in and out trading. Another thing not mentioned is that there are very very few profitible futures traders. The fact that you are profitible and willing to show people how you do it during the day a good thing.

But all the the talking, all the theory, all the diagrams and predicting, why dont these people show some actual trading statements? Talk about credibility! Forums, like trading, have a way of bringing out the worst in people. Combine the two, and it really is a string of lies that keeps getting repeated.

One thing I am cognitive of is how many different ways there are to interpet the market. Everyone has different time frames and risk tolerance. But the other thing I am aware of is how many things actually do not work. There are not that many good, consistent ways to make money in the market. I am not a systems trader, but as an example, almost all successfull systems as monitored by Futures Truth are variation on the Donchian Break Out. I could go on all day about this, but there really are only handfull things that work. Combine this with the most important part, managing the trade, and it gets very difficult.

That is what made the orginal Johnny Rotten Trade idea so refreshing on this, or any other, board. Here was a workable idea that actually works in real practice. And when he said that ES may not be the best vehicle for this, he was telling the truth. Not all vehicles are the same. As an extreme example in the other direction, try trading Eurodollars using an intraday breakout system. It wont work.

The prevailing myth is that the Emini is a great vehicle for the retail trader and that all you have to do is pluck down your 5K and start the printing press. I know this is not the case. In fact, I know the ES has tore up more capital than anything else invented. The S&P pit tears up more locals than anyone would admit. They have a survival rate like the Normady Beach, also.

So it is great that you can make real time calls. My intention was to second the initial premise by Johnny that ES just was not that great of a vehicle for some of this. It is not.

Best,

Mike
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Thanks for the replies. I didn't get a chance to check in for a while, and it looks like I might have missed a little "discussion".

John, thanks for the helpful response and charts. I am about to take a look at the charts and study your remarks. Thanks for the help.
 
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