tampa's "short skirt" trades...
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As noted above, several bad âticksâ drove me from the NQ this morning into the arms of the Ausies, and the Frozen Kangaroo Bellies market. I knew that the continent Down Under was originally populated with criminals, thugs, and crooks, but one would have thought that times had changed.
I made two quick scalp attempts, both scratching. Still trying to find my way around this new (for me) market, I entered short at 45.20, suffering an immediate 1.70 loss. Iâve been down on the day before, so I was not concerned. At that point I saw the perfect setup â a canât miss trade. I moved my cursor over the âbuyâ button, clicked my mouse, and got the following message:
Trade disallowed as it would violate the PRT Rule.
The PRT? What the %&$#@ is the PRT rule? At once I e-mailed def at IB, certain that there had been some mistake. All the while prices raced in what would have been my favor. Shortly he replied that the PRT (Pattern âRoo Trader) rule forbid more than 3 day trades in Kangaroo Bellies in a 5 day period, and that his hands were tied â there was nothing he could do to help.
This is outrageous, unfair, and Iâm sure that it is unconstitutional. I call on all ET members to join me in a protest of this so called rule. The time has come for the little guys to stand up to the Frozen Kangaroo Bellies cartel, and put an end to the PRT. Even if you never trade the âRooâs, and only trade Burlap Bags, or Koala Bear Hides, it wonât be long before they come after you. Please join me in this crusade to fight oppression where ever we may find it.
I made two quick scalp attempts, both scratching. Still trying to find my way around this new (for me) market, I entered short at 45.20, suffering an immediate 1.70 loss. Iâve been down on the day before, so I was not concerned. At that point I saw the perfect setup â a canât miss trade. I moved my cursor over the âbuyâ button, clicked my mouse, and got the following message:
Trade disallowed as it would violate the PRT Rule.
The PRT? What the %&$#@ is the PRT rule? At once I e-mailed def at IB, certain that there had been some mistake. All the while prices raced in what would have been my favor. Shortly he replied that the PRT (Pattern âRoo Trader) rule forbid more than 3 day trades in Kangaroo Bellies in a 5 day period, and that his hands were tied â there was nothing he could do to help.
This is outrageous, unfair, and Iâm sure that it is unconstitutional. I call on all ET members to join me in a protest of this so called rule. The time has come for the little guys to stand up to the Frozen Kangaroo Bellies cartel, and put an end to the PRT. Even if you never trade the âRooâs, and only trade Burlap Bags, or Koala Bear Hides, it wonât be long before they come after you. Please join me in this crusade to fight oppression where ever we may find it.
You think you got problems.................
I was sitting in a pub in the outback when an Aboriginal fellow came into the bar wearing one shoe
Barman sez........"hey mate you lost a shoe"
Abbo sez............"no mate, I found one"
I was sitting in a pub in the outback when an Aboriginal fellow came into the bar wearing one shoe
Barman sez........"hey mate you lost a shoe"
Abbo sez............"no mate, I found one"
Recap and A Look Forward
On what has to be the slowest trading day in my memory (I swear Iâve not seen one trade now for several hours!), I thought it appropriate to look back on what has been accomplished to date in this journal.
With the best of intentions, this Journal started out trading a method known as the âshort skirtâ â a scalping technique made famous(?) by Linda Raschke. On the surface this technique seemed to be all that a trader could ask for. In my back testing it worked well over 75% of the time.
Readers of this journal know that soon after it began, agents from the LBR Group regularly visited the thread, under the guise of assisting me. While I canât prove it, I suspect that they reported back to the one-time Market Wizard, and a pattern of fading the setups began in earnest â that is, every time a âshort skirtâ showed up, she and her cohorts took the other side of my trade. As a result I suffered losses amounting to some $39,650.
At that point, an Elite Trader Forum member who calls himself OldTrader, seemingly came to my assistance and guidance. Needless to say, I was thrilled. He suggested that I widen my stops â I seem to recall his suggesting 5 points as a starting place. I figured that if 5 was good, perhaps 20 or so would be better. Nine consecutive losing trades later, I was down an additional $10,350. I then placed OldTrader on my Ignore List.
The certifiable crook and charlatan, Mister Subliminal stepped forward, and sold me on his S.O.M.P. system â a series of random trades, executed 50+ times within the first hour or so of the session. Subliminalâs own trading has forced him to live in a homeless shelter, but he was so convincing that I immediately subscribed to the method. I lost my shirt and $44,700 within three days.
An unfortunate series of encounters with Mr. Keltner and his channels, and Mr. Andrews and his pitchfork came next. My lawyer advised me not to talk about the case, but we both are confident that the court will help me recover the $22,900 loss, and possibly additional punitive damages.
Fed up with following the advice of others, I then set out to develop my own system, thus the tampa technique was born. With God as my witness, I tell you that it is the Holy Grail. In extensive back testing going back over almost two months, it never showed a loss - NOT ONCE! However, the 54 real time indicators, and 23 open charts needed to actually trade the system proved such a drain on my computer resources, that with the constant crashes, I have yet to actually get a trade off.
Disheartened and dismayed I have spent the morning searching the Net in the hope of finding something that could not only make me a profitable trader, but recoup at least some of my recent losses. And I have succeeded!
I have discovered a wonderful man, Larry Pesavento and The Harmonic Vibration method. Clearly this is what I have been looking for all along â a system based on natureâs law. How could it go wrong? I will implement it on the open tomorrow, and of course, keep you advised of my certain success.
On what has to be the slowest trading day in my memory (I swear Iâve not seen one trade now for several hours!), I thought it appropriate to look back on what has been accomplished to date in this journal.
With the best of intentions, this Journal started out trading a method known as the âshort skirtâ â a scalping technique made famous(?) by Linda Raschke. On the surface this technique seemed to be all that a trader could ask for. In my back testing it worked well over 75% of the time.
Readers of this journal know that soon after it began, agents from the LBR Group regularly visited the thread, under the guise of assisting me. While I canât prove it, I suspect that they reported back to the one-time Market Wizard, and a pattern of fading the setups began in earnest â that is, every time a âshort skirtâ showed up, she and her cohorts took the other side of my trade. As a result I suffered losses amounting to some $39,650.
At that point, an Elite Trader Forum member who calls himself OldTrader, seemingly came to my assistance and guidance. Needless to say, I was thrilled. He suggested that I widen my stops â I seem to recall his suggesting 5 points as a starting place. I figured that if 5 was good, perhaps 20 or so would be better. Nine consecutive losing trades later, I was down an additional $10,350. I then placed OldTrader on my Ignore List.
The certifiable crook and charlatan, Mister Subliminal stepped forward, and sold me on his S.O.M.P. system â a series of random trades, executed 50+ times within the first hour or so of the session. Subliminalâs own trading has forced him to live in a homeless shelter, but he was so convincing that I immediately subscribed to the method. I lost my shirt and $44,700 within three days.
An unfortunate series of encounters with Mr. Keltner and his channels, and Mr. Andrews and his pitchfork came next. My lawyer advised me not to talk about the case, but we both are confident that the court will help me recover the $22,900 loss, and possibly additional punitive damages.
Fed up with following the advice of others, I then set out to develop my own system, thus the tampa technique was born. With God as my witness, I tell you that it is the Holy Grail. In extensive back testing going back over almost two months, it never showed a loss - NOT ONCE! However, the 54 real time indicators, and 23 open charts needed to actually trade the system proved such a drain on my computer resources, that with the constant crashes, I have yet to actually get a trade off.
Disheartened and dismayed I have spent the morning searching the Net in the hope of finding something that could not only make me a profitable trader, but recoup at least some of my recent losses. And I have succeeded!
I have discovered a wonderful man, Larry Pesavento and The Harmonic Vibration method. Clearly this is what I have been looking for all along â a system based on natureâs law. How could it go wrong? I will implement it on the open tomorrow, and of course, keep you advised of my certain success.
Good point. Matters concerning feline wellbeing are currently in far more urgent need than your choice to learn how to play the harmonica.
I lost my trading buddy, a german shepherd earlier this year and I know what a blow, illness of a buddy can be. We had a code of one whoof for long and two for short which worked well until the meals on wheels (postman) arrived and the result was another new car for the brokers, out of commissions.
Our agreement on the scratch signal had to be modified after I found that the scars wouldn't heal
It shows that either we traders live a very narrow life or perhaps we are really human beings but a hopefully positive update on your buddy would be of interest.
Traduk
I lost my trading buddy, a german shepherd earlier this year and I know what a blow, illness of a buddy can be. We had a code of one whoof for long and two for short which worked well until the meals on wheels (postman) arrived and the result was another new car for the brokers, out of commissions.
Our agreement on the scratch signal had to be modified after I found that the scars wouldn't heal
It shows that either we traders live a very narrow life or perhaps we are really human beings but a hopefully positive update on your buddy would be of interest.
Traduk
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