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Quote from justrading:

Very stop start with my computer troubles. Six weeks out of the market all in so I said screw this, ended up spending much more than I would have liked on a new rig. Can't focus with too many disruptions and trading without focus is gambling.

New to options so I've been trading small size thus far, but I'm scaling up already and I should know soon enough.

You only trade indices and commodities? That's my comfort zone as I read more of the macro stuff and find it easier to relate what I see happening in the market to the broader environment. Perhaps I'm wrong but trading from Thailand I worry I might miss out on snippets of corporate news that could influence the price of single stocks. That's happening right now with my PFE bear spread, but it's only 1 position with limited risk so I'll wait and see.
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Yeah, understood. I recently purchased tricked out machines from Scataphagos and TJ winston on this site-- we are very happy with the prices and quality for heavy quant work--- it sucks overpaying, sorry to hear. No, I trade stocks but don't post much about it as they are normally long term holds-- good luck with the bear spread! surf
 
Quote from marketsurfer:

No, no role whatsoever in trade management ---- I will close only if the highs are taken out--- ---then it's over.
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At new highs, would your price drivers turn bullish?

It looks as though new highs are the high odds play right now, though probably only for a day or so. The uptrend that started in November looks like it will end during June opex or very soon thereafter, with the SPX going for 1687-1700. I assume that if the SP makes a new high, so too will the INDU.

Not having been schooled in the true science of price drivers, I must rely on the magic arts of TA. I am perplexed by your stating that you find these price drivers reason enough to take a position, but then you use a rather technical approach to trade management, e.g. a stop loss based on a prior price level rather than a stop loss based upon changing price drivers, whatever those may be.
 
Quote from cygnetnoir:

At new highs, would your price drivers turn bullish?

It looks as though new highs are the high odds play right now, though probably only for a day or so. The uptrend that started in November looks like it will end during June opex or very soon thereafter, with the SPX going for 1687-1700. I assume that if the SP makes a new high, so too will the INDU.

Not having been schooled in the true science of price drivers, I must rely on the magic arts of TA. I am perplexed by your stating that you find these price drivers reason enough to take a position, but then you use a rather technical approach to trade management, e.g. a stop loss based on a prior price level rather than a stop loss based upon changing price drivers, whatever those may be.
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No, Price Drivers have nothing to do with price--- think of them as a predictive sentiment tool. As you know, price is what is traded, therefore the differing approach to trade management. There are 2 distinct and radically different times which are pre trade and during the trade. once again, I hope this makes sense--it's hard sometimes to put these ideas into words. surf
 
I was questioned on another thread about my definition of TA. I define TA as the Objective reading of price charts/volume to make buy/sell trading decisions without any other information. IN other words, if you can automate ( make objective ) buy and sell decisions based on past price/volume data--- then you are using objective TA. If it can't be automated, then I can't argue with pyschics, savants and mystics who use INTUITION to read charts--- I have never seen evidence of it working, but maybe it does for a few fortunate folks. I have no clue. I do KNOW that when tested objectively TA signals fail time and time again.

Now TA combined with real INFORMATION can serve a useful function to drill down into the entry/exit of trades -- but on its own it fails.




Thanks, Surf
 
Quote from marketsurfer:

I was questioned on another thread about my definition of TA. I define TA as the Objective reading of price charts/volume to make buy/sell trading decisions without any other information.
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Which you obviously have very little knowledge about.

How's that classic ta bullish signal treating you last couple of days ?
 
Quote from Lord.Maushi:

Which you obviously have very little knowledge about.

How's that classic ta bullish signal treating you last couple of days ?
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Yeah, as an ex MTA member hired to teach two hedge fund managers about TA, I know nothing about it. Sounds like you know nothing about it. I projected and expected sharp upward moves during the downdraft-- this is normal market behavior which I TOLD you about before any TA.



surf
 
Quote from marketsurfer:

I was questioned on another thread about my definition of TA. I define TA as the Objective reading of price charts/volume to make buy/sell trading decisions without any other information. IN other words, if you can automate ( make objective ) buy and sell decisions based on past price/volume data--- then you are using objective TA.

Now TA combined with real INFORMATION can serve a useful function to drill down into the entry/exit of trades -- but on its own it fails.

Thanks, Surf
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Read Kaufman, Pring's Technical Analysis Explained, or Technically Speaking by Chris Wilkinson.

Might help to broaden your perspective.
 
Quote from justrading:

Read Kaufman, Pring's Technical Analysis Explained, or Technically Speaking by Chris Wilkinson.

Might help to broaden your perspective.
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As someone on Wiley's book reviewer list, I have hundreds of trading books, even those you mention-- Pring is mcgraw hill, I can seem to locate the other one right now, but am pretty sure I have it

, they are basically just rehashes... May I suggest,

Evidence Based Technical Analysis by David Aronson,
http://books.google.ca/books?hl=en&...6&sig=NLnY7IBe8GrlWBMcVQmeIES25J8&redir_esc=y

Practical Speculation by Vic Niederhoffer

How markets really work by Larry Connors


If you like buying break outs, Connors extensive research on the topic will quickly change your mind about that strategy and many others.

Let me know what you think after you read them. thanks!

surf
 
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