Surf's Special Situation Journal

[R. Raskolnikov]

Oh really? First post on this thread:

" We wait patently, then ponce on special situations. Obviously not every entry will be a winner but every entry will have strong odds of success and a huge positive expectancy, "

Quote from marketsurfer:

No, you are missing the point. I make no claims---

 

[marketsurfer]

Quote from Brass:

Good post, NoDoji, and I agree with most of what you wrote. Just a quick question, if I may. I recall asking you some time ago how many markets you can follow using your rather intensely focused and discretionary intraday approach and, if memory serves, you replied "one." If so, then why two separate day trading accounts now and, if you are trading more than one market with such intensity, how did you manage to squeeze more instuments into that approach?

remember, she claims 50k every 10 days also. You need to keep this in mind when asking questions. surf

 

[atticus]

Quote from marketsurfer:

remember, she claims 50k every 10 days also. You need to keep this in mind when asking questions. surf

Yes, the BS is strong in this thread (regarding the claim).

 

[Brass]

Marketsurfer, this was your response to NoDoji:

Quote from marketsurfer:

They do say you can judge the worth of an idea based on the success of those you teach it to-- even more so than your own-- so in that case, I applaud you for being a succesful trading teacher.

50 k every 10 days out the market is impressive. over a mill a year--- not bad!

I'll take the rest of your post as another excuse why none of the TA brigade will participate.

respectfully, surf

"Respectfully," eh? Sure.

That aside, why don't you put your money where your mouth is? NoDoji trades using TA. You don't believe TA works. Therefore, it follows that you don't believe she can make money in the manner that she claims. Here is my suggestion to both you and NoDoji: Whatever she generates in simulated profits, you agree to pay her in real dollars, AND if she loses in the simulated trading, then she should pay you the corresponding amount in real dollars. That way, you get your chance to prove she's full of TA, and she does not incur an opportunity cost by participating in the challenge.

Indeed, here is your chance to profit from your convictions. I'm sure if you can agree on this arrangement in principal that you can iron out the details between yourselves to your mutual satisfaction and use an agreed upon middleman or some such to keep it all above-board. Bank issued standby letters of credit can be issued by each one of you to the other to guarantee payment subject to predefined conditions and a cap. However, you would each have to incur a setup fee for such a guarantee document issued by your own bank, but you could arrange it so the loser pays the winners bank charge as well. Importantly, the outcome money would be real, and each of you would have a chance to put the other in his place.

Just a suggestion.

 

[Samsara]

Quote from marketsurfer:

The challenge is for the elite big talkers who make the claims of success like 50k in 10 days etc. Not for anyone else. Put up or shut up--- all i have heard is excuses.

Maverick74 uses TA and has joined the combine. Not that he adds $ amounts or boasts. But in substance, there's your solution.

 

[R. Raskolnikov]

Wait, so Mav trades using technical analysis and Surf doesn't give his constant shit about it?

Quote from Samsara:

Maverick74 uses TA and has joined the combine.

 

[NoDoji]

Quote from marketsurfer:

remember, she claims 50k every 10 days also. You need to keep this in mind when asking questions. surf

You have an amazing ability to draw conclusions by filling in information of your own where none was provided by another.

 

[Brass]

Remember, surf "respects" Larry Williams, a TA guru with a shady past who just happens to also be a shameless and opportunistic vendor of mostly crap. And all because Larry gives him the time of day.

 

[NoDoji]

Quote from Brass:

Good post, NoDoji, and I agree with most of what you wrote. Just a quick question, if I may. I recall asking you some time ago how many markets you can follow using your rather intensely focused and discretionary intraday approach and, if memory serves, you replied "one." If so, then why two separate day trading accounts now and, if you are trading more than one market with such intensity, how did you manage to squeeze more instuments into that approach?

My futures trading approach requires intense concentration and focus and I generally average around 15 trades a day (sometimes 6 trades, sometimes 30 trades).

In a separate account I often day trade one or two equities that hit my radar. These trades don't require the sort of focus my futures trading requires, because I trade them differently and will hold through retraces rather than scalping price gyrations. For example, if I see a certain stock hitting the high ticker at a count >100, I'll display the chart, decide whether to enter immediately or place a limit to enter at a key pullback zone, then place a protective stop and often hold till late in the day.

Sometimes I refrain from trading because of time of day or pending news narrow range chop and I'll do other things or chat with other traders. Since I wouldn't trade at that time, I wouldn't trade in a simulated combine at that time either.

I personally have nothing to prove. I've been offered plenty of money for my trading plan, to mentor people, whatever, not interested in that. Everything you need to know is here on ET, in excellent books such as Volman and Brooks, from professional paid mentors/educational services.

What's not to be found here are the key ingredients to making any method succeed. Those are things the individual trader has to bring to the table, the most important of which is an open mind and a serious work ethic.

I'm really looking forward to the show, boys!

 

[Lucrum]

Quote from bigarrow:

Are you going to the combine Lucrum?

Hadn't planned on it. Although I did scan over the web site.

Something about paying for a simulator doesn't sit well with me.

maverick OTOH is I believe a talented trader from what I can gather.



Which reminds me smurf, doesn't maverick use the ACD method? From what little I know of the method it certainly falls under the umbrella of "TA".