Surf Report

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marketsurfer said:
ok, i don't think much of chart patterns, but thanks for the analysis!

surf
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Me either, however, I do know a few that trade price/vol patterns really well. One of them is on Collective2 (ID: ES ST IT)
 
Some traders do not like charts and patterns. Perhaps they never really learned to read them and interpret them in a useful manner. Maybe they never learned what to do when a likely event does not happen and instead the opposite happens. For instance, bear channels on any TF should be considered simply as bull flags with a probable B.O. TO the upside. Bull channels are bear flags. Probable B.O. South. However when the probable doesn't happen and instead the opposite happens then you have trapped traders. Bulls and bears trapped. Institutions or retail traders trapped, it doesn't matter. So... you get a flurry of activity. To cover and to take a position opposite of what was likely. That is why you get those big B.O. bars (bear or bullish). When you have bulls who have taken a position and they are trapped in and bears trapped out because both thought sonething else was likely then when the opposite happens you have the trapped bulls scrambling to cover and the "trapped out of the move" bears scrambling to sell to get in on the move. That activity creates a Big Bear bar with high volume. That is exactly why failed wedge bottoms get two or more good legs down that can transpire rather quickly. But a trader that doesn't understand this say "oh I bought a wedge bottom and it failed. So the pattern is rubbish and doesn't work." It didn't work because of that traders lack of knowledge and not having a strategy on what to do when a price pattern fails.

Another example: strong bull trend tight channel forget trading wedge tops. Until that channel broadens out it is a losing strategy to try and trade every wedge top. Traders that do keep losing and losing and losing and come to the erroneous conclusion that wedge top patterns are rubbish. Their principal failure was to not discern the context in which the pattern was taking place. Patterns aren't 100% but they are not rubbish if you know how to use them.
 
volpri said:
Some traders do not like charts and patterns. Perhaps they never really learned to read them and interpret them in a useful manner. Maybe they never learned what to do when a likely event does not happen and instead the opposite happens. For instance, bear channels on any TF should be considered simply as bull flags with a probable B.O. TO the upside. Bull channels are bear flags. Probable B.O. South. However when the probable doesn't happen and instead the opposite happens then you have trapped traders. Bulls and bears trapped. Institutions or retail traders trapped, it doesn't matter. So... you get a flurry of activity. To cover and to take a position opposite of what was likely. That is why you get those big B.O. bars (bear or bullish). When you have bulls who have taken a position and they are trapped in and bears trapped out because both thought sonething else was likely then when the opposite happens ypu have the trapped bulls scrambling to cover and the "trapped out of the move" bears scrambling to sell to get in on the move. That activity creates a Big Bear bar with high volume. That is exactly why failed wedge bottoms get two or more good legs down that can transpire rather quickly. But a trader that doesn't understand this say "oh I bought a wedge bottom and it failed. So the pattern is rubbish and doesn't work." It didn't work because of that traders lack of knowledge and not having a strategy on what to do when a price pattern fails.

Another example: strong bull trend tight channel forget trading wedge tops. Until that channel broadens out it is a losing strategy to try and trade every wedge top. Traders that do keep losing and losing and losing and come to the erroneous conclusion that wedge top patterns are rubbish. Their principal failure was to not discern the context in which the pattern was taking place. Patterns aren't 100% but they are not rubbish if you know how to use them.
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Well quoted :)

Do you know what a BOB is, and it is not what you think it is!

When you have traded for a good few years, and rubbed shoulders with those who actually trade, you will not be quoting such things as above, in fact you won't quote too much about trading, for "obvious" reasons :)
 
Somebody who's native language is not English has a difficult life on ET.
Always googling all kind of odd words:
SFA: Syndicated Facility Agreement,Sachs Freeman and Associates, Sales Force Analysis, Sales Force Automation, Safety First Aid, Senior Field Agent, Securities and Futures Act, Securities and Futures Authority, Society of Financial Analysts, Strategic Fund Adviser, Success Factor Analysis, Supervisory Formula Approach...

Have no clue which one of these it is, and it even might be another one.:banghead:

Next one: BOB:...

Well, never mind... I feel ASNAHDNUA.
 
Any update on your current trading journal Surf? By that I mean, any updates in your real money account in what seems to have been YM positions, with PnL? I can understand if you have not been trading live money for a time, everyone needs a break here and there. But what is the current status, if you please?

Sincerely yours, Curious.
 
wtfauoa said:
Well quoted :)

Do you know what a BOB is, and it is not what you think it is!

When you have traded for a good few years, and rubbed shoulders with those who actually trade, you will not be quoting such things as above, in fact you won't quote too much about trading, for "obvious" reasons :)

Look, any fool can see that David knows SFA about trading, in fact, he has stated it himself so many times in this thread, but, he can't even see it himself, which shows how clever he really is.

I will not mention the war, but I can now see why what happened, happened.

Some things will never change, that is one sure thing!
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Obviousley you don't don't know why a BOB occurs. Maybe all you have done is rub shoulders ROFLMAO. you come across as an arrogant king of trading. LOL. Well again tell us about tomm.

Btw any real trader knows there really aren't any secrets to hide. The market is open game to all. I see what you see unless you got chicken sh?t in your eyes which i will prove you probally do in just a few minutes. ROFLMAO..ROFLMAO.
 
Overnight said:
Any update on your current trading journal Surf? By that I mean, any updates in your real money account in what seems to have been YM positions, with PnL? I can understand if you have not been trading live money for a time, everyone needs a break here and there. But what is the current status, if you please?

Sincerely yours, Curious.
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I am not sure what you mean. We are short the YM with 10 units from 21087-- I really don't understand your point/question.


surf
 
Instructions: Go to the bathroom. Turn the warm water on. Wash the chicken sh$t out of your eyes. Pat your face dry. Turn your computer on and stare at the pretty chart that you so cleverly posted a bit ago. Maybe you will see the magical Measured Move on your own chart. If you don't then put some spectacles on and try again. Measured move to the tick. Now how is that for useful info? Just think you might be able to use it tomm. NOW back to where we left off. Mr Trade King what about tomm? Tell us. ROFLMAO
Capture.JPG
 
algofy said:
What exactly does 10 units mean?
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vanzandt said:
///////////////////////with 2 units out of a maximum exposure level of 3 units////////////////

OK.... I'm gonna show my ignorance here.... but what's that mean?

-------------------------------------------------------------------------------------.

A self-defined number of contracts is a unit. I use it so I don't have to reveal my exact size on a public board but can show the mechanics of the trade

surf
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Guess he up'd it to ten from 3
 
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