MAKE MILLIONS with "Only" 2k for us... yeah right!!!

N

neo_hr

OK THIS is the PM I sent to my "brother in arms" tntneo and he suggested I post it to forum. Any opps. fire away.

Cheers All,
Alex




Dear Neo,

A couple of things :

VALUE AREA Technique - Have you ever heard about it? What the heck is it? Also to go with it Balanced open, Imbalanced to the upside/downside ?

SUPPORT/RESISTANCE - suposedly in futs they arent previous highs/lows??? I always thought thats the way to find them, no!?

What do they mean by this?



Using just two key numbers each day, Floor traders and other professionals can pick the direction, entry price, stop loss and target price of a particular trade. It doesn't matter if the market is going up or down, this simple to learn method has a historical accuracy of 80%.
Each morning you will know what those two key numbers are. Then, if the set up is correct, simply enter the trade, set your stops, set your target price and sit back knowing the trade has an 80% expectancy of generating a profit. What could be easier?"
More...


Also, what is this????

When I started trading on the floor I noticed a lot of Floor traders checking their alphanumeric pagers or "beepers" numerous times throughout the day. At first I thought they had other business or personal interests that were trying to contact them. Then I noticed these "beepers" seemed to be going off at the same times through the day. I did some checking and found there are services that issue a "page" whenever a specific chart pattern appears. That pattern often identifies turning points in the market. After doing the homework I found this simple pattern would be easy for the off- the- floor trader to spot, and best of all the off- the- floor trader would see the pattern before the "beepers" went off.
The Secrets of Floor trader's course contains all of the latest information regarding this exciting chart pattern. There are even two ways to trade the pattern, an aggressive approach and a conservative approach. The course teaches you how to quickly calculate the exact entry and stop loss price for either approach
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THX and good trading
Alex
 
Couple other important points besides H/L are previous days' close and current days open. I doubt there's anything with 80% accuracy, maybe 54%.
 
so now I can answer some more.
a usual snake oil stuff (as it is referred to on ET).
it is holy graily (oily gravy ?).
anyway, I think you are still looking for secrets where there are none.
here it is a case of so called 'insider' info.

not that pivot points are not interesting or useful sometimes not that chart patterns aren't. but the goal of this text is to lure you in and make you pay. as usual.
no shortcuts.

tntneo
 
THX Tnt, thats all i needed to know. No I wasnt searching for H.G. or gravy :) or nothing but rather I wanted to post this thing Im getting in my e mail every day... Can you belive those guys?!


Alex
 
sure.. me too, I wanted to blast this kind of stupid ads. it's silly.
thanks for not posting their actual names so even indirect publicity is not made to these idiots.
 
Just to let the cat out of the bag: For what it's worth (and IMO, not too much) the Value Area is the range within which around around 70% of yesterday's trades occurred. (If you look at all of yesterday's trades and prices, you'll generally see somewhat of a bell-curve distribution ----- lop off the 15% at the top and the 15% at the bottom and you have the value zone.) It was *discovered* by Peter Stedemeyer of Market Profile fame in the late 1980's. Theoretically, if today's market opens above the top of the value area and never enters the value area, it is extremely bullish. Bearish, of course, for opening and staying below the low end of the Value Area. If prices enter the Value Area from above or below and penetrate at least 25% into the area, then supposedly they will continue to move in that direction at least until they reach the other end of the area. Also if prices break out of the value area, supposedly the top now offers support and the bottom resistance to a possible move back into the value area. That's the theory ----- sometimes it works, sometimes not, but in my experience not often enough to warrant paying any attention to. I can hardly imagine that it's worth $2,000 ---- and in any event that's the system in a nutshell for free! There are much better future trading methodologies in my view.
 
market profile is absolutely a valuable aid to trading, but like all technical analysis, its how you trade off it that makes you the bucks, not the thing itself

and by the way you can buy a book about market profile and a real valuable book - for under $50 - sorry - can't remember its name and i am not on a royalty - but like all the stuff people sell for 1,000s of dollars - you can find it all in books - and its free if you get it from the library or buy the book and return it and get your money back - i not saying you should do this - but if your are shmuck enough to lay out thousands for something you can get for nothing - maybe trading is not your vocation

highs and lows are important, but only if they are at key support and resistance levels, and dont forget - there will be a high and low for the cash, the main pit contract, main overnight contract and emini
 
If ever there comes a day when we off floor traders know something before the floor...there will no longer be a pit to trade from...perhaps then we shall be closer to even.
 
Originally posted by stevet
... and by the way you can buy a book about market profile and a real valuable book - for under $50 - sorry - can't remember its name and i am not on a royalty - ...
More...

You may be referring to "Mind Over Markets: Power Trading with Market Generated Information" by Dalton, Jones & Dalton.

http://www.traderspressbookstore.com/traders-daytraderdepot/detail.html?item=329-s

http://www.elitetrader.com/vb/showthread.php?s=&postid=17828#post17828

I'm not familiar with market profile analysis, nor have I read the book - just passing along some info.
 
The truth is that many floor trading techniques are (relatively) very simple. I know some of them (still being used) based on simple correlation. However, it does not mean that are so good.
Good floor traders still make more than "off floor", but as everywhere, there are the limits. First of all rising volatility hurt them as well as others. second - results may vary.
 
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