Quote from PuffyGums:
In your book you mentioned you took $10K to $200K in 20 months. About what were your trading profits from this last, difficult year? Is is similar to what you describe in the book (approx north of $100K/ yr) or have you reverted to the mean trading-wise?
Also when you lost your initial funds and reached the low point of $10K, how much did you start with?
Quote from PoundTheRock:
Why don't you look up the traditional definition of tape reading? You may be able to learn something yourself.
We have covered this more than once on this forum. To avoid repeating:
http://www.elitetrader.com/vb/showt...ding#post294084
http://www.elitetrader.com/vb/showt...ding#post295500
http://www.elitetrader.com/vb/showt...ding#post295518
http://www.elitetrader.com/vb/showt...ding#post295534
This is answered in the book itself, too. Observing "last 2-3 min transaction flow in NVLS" will give you a rough idea for the next what, 1 min? 2 min? This could be useful for optimizing of point of entry at best, in terms of cents. I don't know what to write the book about if covering this aspect - it would be good for 1 page. Such definition strips tape reading to quite shallow and narrow method suitable only for several cents scalp. Meanwhile, it's a powerful way of reading the markets in any timeframe - but only when you forget pure T&S/Level 2 and go to the roots of this method.
From your answer, I take it that you have not pulled a Hitman and reverted to the mean after your run-up to $200K and that you have been more or less consistently profitable since then.Quote from Threei:
let me refrain from exact figures and limit my answer to: I trade everyday and trade proftably. This last year was actually much easier than 2001-2002 were.
I started with a bit north of 40K.
Quote from Threei:
let me refrain from exact figures and limit my answer to: I trade everyday and trade proftably. This last year was actually much easier than 2001-2002 were.
Quote from PuffyGums:
From your answer, I take it that you have not pulled a Hitman and reverted to the mean after your run-up to $200K and that you have been more or less consistently profitable since then.