The Surf Report--part 2

Quote from RCG Trader:

Just heard on Coast that the Dow crashed, this means you made a ton o cash, Surf, Congrats!

And I am a shill for the new supergroup, Superheavy. Check it out!
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Thanks.


Excellent! I like Mick's song with Lenny Kravitz.


So you are working in A/R now? very cool!

surf
 
So much for conviction ....thought you had the stones to ride the "big one" & take the whole enchiliada?

This is where the need to be right overwhelmed the perseverance it takes to be truly successful at this game.

Great Call...poor trade management.
 
Quote from bwolinsky:

S&P is covering their ass. They won't have the balls to downgrade us, and it's almost amusing how our own congress pointed to their computational inaccuracies they've been making apparently for years.

Slight pop from this no matter what they decide to do. It sounds like they'll take Moody's route: No downgrade, Negative AAA rating credit watch.
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Very possible. Could also be pressure from higher ups
 
Quote from bwolinsky:

This would of course have nothing to do with an external signal? Are you an event driven trader? I do not classify this as TA. Though I do consider it a reasonable day trading method, I see no reason for it to have triggered 40 contracts.
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Events are one price driver, although they are somewhat indeterminate regarding market reaction. They are a very small part of the system. We look at the things that drive price in total-- not price itself since price is the past no matter how its analysed.

Once the underlying bias and decision to buy/sell is made, then price is reviewed to find the optimal entry-- since there is nothing else to fine tune the entry point.

So, I guess, in some stretch I do use TA after the actual trade direction and price range has been determined by analyzing the price drivers.
 
Quote from bwolinsky:

Surf the trail stop would have worked, but it looks like you got a big buying signal 12 minutes before unemployment numbers.
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Yes, captured a lot of the up move then bailed prior to the fat selloff. The price driver system "knew" prior to the NFP being released.
 
Quote from bwolinsky:

Too late to take back the S&P comment. Double checking work must not be a priority.

And, yes, we have been going down because of this uncertainty.
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Tell that to CNBC who leaked the story....
 
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