Surf's Special Situation Journal

Wide Tailz · Mar 17, 2013

Quote from marketsurfer:

Oh yeah! feels great to nail this drop-- up plus 100pts-- this is the short term top, i expect additional downside and am holding here for now. good luck! surf

Don't be afraid to take profitz

syswizard · Mar 17, 2013

Nice Surf. Cyprus=Greece, it twas eventually going to happen.
Interesting how it played out over a weekend....hmmmm.
We are now back to "tough times" once again.
Well this is definitely a rally ender.

tobbe · Mar 18, 2013

Quote from marketsurfer:

Oh yeah! feels great to nail this drop-- up plus 100pts-- this is the short term top, i expect additional downside and am holding here for now. good luck! surf

Good thing there isn't such a thing as survivorship bias in the surf journals.

Nice trade

.

marketsurfer · Mar 18, 2013

Quote from syswizard:

Nice Surf. Cyprus=Greece, it twas eventually going to happen.
Interesting how it played out over a weekend....hmmmm.
We are now back to "tough times" once again.
Well this is definitely a rally ender.

Thanks! Thats definitely a price driver. Will see what happens. Could use a nice win! surf

Grandluxe · Mar 18, 2013

Haven't heard anything from cornix this morning? His money got hit in Cyprus for 10%?

syswizard · Mar 18, 2013

Quote from marketsurfer:

Thanks! Thats definitely a price driver. Will see what happens. Could use a nice win! surf

Not to blow my own horn Surf, but my journal has been in the Metals futures subforum. I've been calling for weak copper for quite some time and finally the break below $3.50 has now confirmed that.
Thanks Cyprus !
http://www.elitetrader.com/vb/showthread.php?s=&postid=3761733#post3761733

There's been a lot of drama in that market due to the hoarding of the red metal by the Chinese. No one wanted to bet against them. And who knows what position Farmer is in right now ? The way that market was being held-up by chewing gum and old twine just reeked that he was in there long. Today's nearly 10 cent move down has been significant IMHO.

marketsurfer · Mar 18, 2013

Quote from syswizard:

Not to blow my own horn Surf, but my journal has been in the Metals futures subforum. I've been calling for weak copper for quite some time and finally the break below $3.50 has now confirmed that.
Thanks Cyprus !
http://www.elitetrader.com/vb/showthread.php?s=&postid=3761733#post3761733

There's been a lot of drama in that market due to the hoarding of the red metal by the Chinese. No one wanted to bet against them. And who knows what position Farmer is in right now ? The way that market was being held-up by chewing gum and old twine just reeked that he was in there long. Today's nearly 10 cent move down has been significant IMHO.

Nice trading!

cornix · Mar 18, 2013

Quote from Grandluxe:

Haven't heard anything from cornix this morning? His money got hit in Cyprus for 10%?

Cornix just had some long weekend for personal holiday reasons. No Cyprus accounts involved.

cornix · Mar 18, 2013

Quote from marketsurfer:

No idea, sorry. I would suggest consulting with a real trading psychologist like our own Cornix or Brett steenbarger.

My experience so far is mixing rules with discretionary trading only suits very skilled traders.

Most newbies stumble upon exactly that: discretionary factor. I observed it many, many times.

So even in the case of chart pattern reading, one better "automate herself", which is probably easier vs. constructing a true algo bot and effective in the results.

Effort is directed towards discipline then, which is easier to achieve when focus is narrow as opposed to mastering the intuitive trading and discipline simultaneously.

Also I concluded that eliminating as many discretionary inputs as possible is overall to the benefit of a trader even if there's theoretical decline in profits, because practical results rarely get worse, just the opposite.

marketsurfer · Mar 19, 2013

Quote from cornix:

My experience so far is mixing rules with discretionary trading only suits very skilled traders.

Most newbies stumble upon exactly that: discretionary factor. I observed it many, many times.

So even in the case of chart pattern reading, one better "automate herself", which is probably easier vs. constructing a true algo bot and effective in the results.

Effort is directed towards discipline then, which is easier to achieve when focus is narrow as opposed to mastering the intuitive trading and discipline simultaneously.

Also I concluded that eliminating as many discretionary inputs as possible is overall to the benefit of a trader even if there's theoretical decline in profits, because practical results rarely get worse, just the opposite.

It's called wizetrade.com just follow the arrows-- 100% based on TA.

surf