S/R Emini Journal

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Quote from 4re:

Could have said it better...Just that some people won't accept that and have to label it as an edge. And you are right I didn't reinvent the wheel here. I just put a buggy on it and I will ride around on it for a while :D
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Sorry, I meant I could NOT have said it better...One little three letter word makes a big difference doesn't it...
 
Well we had some good discussion this weekend about the "edge". Had few new people in here to join in. Thank you all for your input on this.

Now for my numbers for tomorrow. The long one was easy no problem there. The short one I had some trouble with so here is where you get to test your mettle in trading. There are several support levels too close together (which I labled on the chart). I am going to watch the volume and if things look good I will short at 1263.25. The safer short is to wait for 1260.25. So here are my numbers.

Long 1277.50

Short 1263.25
Safer short 1263.25

Good trading to all.
Gary
 

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I have to say this. No matter what one considers an edge to be, either a math formula or positive probability based on past performance in its simplistic form of equity curve, etc If you do not have it - do not trade it. There are many examples in day to day life that can be compared to either having or not having an edge in. Would you take the risk of opening your PC and upgrading the RAM only to later realise that you haven't earthed first? That's why people like Goodday, without an edge, do eventually fail.
 
Quote from romik:

I have to say this. .....That's why people like Goodday, without an edge, do eventually fail.
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You are probably right, Romik. History is the best judge... but it is nice to be able to peer a little into the future and get a glimpse to see what will eventually happen.
 
Quote from romik:

I have to say this. No matter what one considers an edge to be, either a math formula or positive probability based on past performance in its simplistic form of equity curve, etc If you do not have it - do not trade it. That's why people like Goodday, without an edge, do eventually fail.
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Well, I know that so far my method has been working. It is simple and other than that I really don't think I have anyhting esle special. I study a lot but I usually study the same things over and over. I try to perfect what I know instead of cluttering up my mind with new stuff. You can say that is good or bad. But I don't really consider anything I do as an edge.
 
Quote from 4re:

Well, I know that so far my method has been working. It is simple and other than that I really don't think I have anyhting esle special. I study a lot but I usually study the same things over and over. I try to perfect what I know instead of cluttering up my mind with new stuff. You can say that is good or bad. But I don't really consider anything I do as an edge.
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Gary, you have an edge over a person who on average loses more than you do %age wise and you do not have an edge over someone like Merrill Lynch. It's all relative to what you are making comparisons to, isn't it?
 
Quote from romik:

Gary, you have an edge over a person who on average loses more than you do %age wise and you do not have an edge over someone like Merrill Lynch. It's all relative to what you are making comparisons to, isn't it?
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Yeah, I guess it could be...BTW, I'll kick Merrill Lynch's ass. I got some liquid courage in me right now so I am ready.
 
Quote from 4re:

Yeah, I guess it could be...BTW, I'll kick Merrill Lynch's ass. I got some liquid courage in me right now so I am ready.
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:D Hey man, I know how you feel, I had some nice Hine Cognac earlier on, it's all coming together now LOL. In Russia there is a saying - when drunk, one can walk the ocean.
 
Quote from romik:

:D Hey man, I know how you feel, I had some nice Hine Cognac earlier on, it's all coming together now LOL. In Russia there is a saying - when drunk, one can walk the ocean.
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Those Russians know don't they...I have never been there but I have been to Lithuania and they really had some good tasting beer and cognac. Cheap to...
 
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