Livermore, Tudor Jones and Cohen
- Thread starter Standard Oil
- Start date
Quote from hermit:
Haven't you heard of things like Opening Range Breakouts or how about just enter at Open and Exit at Close, why make things more complicated.
If OP wants to place trades at open and exit at close then that's great, but he doesn't state that.
He can come in and say he exited a trade while it was profitable before it turned against him, that's my only beef. I'm done arguing though, gl trading.
Long Candidates:
JWN
Short Candidates:
ADCT
OHI
ROST
ARO
AXS
SQM
MOT
Looks like a small gap down open today and that can make things a little tricky to trade but for the record I will still record % off open as official numbers.
Have a safe day out there folks.
JWN
Short Candidates:
ADCT
OHI
ROST
ARO
AXS
SQM
MOT
Looks like a small gap down open today and that can make things a little tricky to trade but for the record I will still record % off open as official numbers.
Have a safe day out there folks.
Someone finally asked a good question!
These 3 men all had several things in common.
1. They all understood the importance of key price levels in relation to a stocks behavior or as some people like to call it price action.
This is the most important element !
I don't have time to list them all right now but you are on the right track.
EliteTrader tends to have a fair quantity of doubters, the clueless, attack dogs, attention seekers, desperate "gimme your logic" newbies/traders, some decent folks and a few knowledgeable traders along the way.
You certainly do not have to give away your edge. But the intro as retired money manager and name dropping these 3 traders may cause some to question your motives.
But the only thing that matters, is risk-adjusted results.
I will expand on this a little more:
The word Price Action is thrown around way too much in my opinion. I believe this fools people into believing that all price action is important. The truth of the matter is that only a very small percentage of Price Action is important and the rest is just random noise.
A great trader needs to disseminate Price Action into these categories When, Where, Why and most importantly How.
It's a lot to understand and some people can do it much easier then others but it can be learned if you know what the heck to look for.
I wish it was as easy as coming in here and saying when A=B always do C but it really does take a lot of time and study to sort all the factors out and then find a way to exploit them.
The great traders all left clues but even if you sat beside Steven Cohen for a month you still would need to figure a lot of things out on your own.
I know that's not what a lot of you want to hear but it's the truth.