Tight Stops

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Quote from WaveTrader2004:

Sometimes when you know the market must go there you can add.
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Bryce

Thx for your reply. Just want to make sure I understand you. On some of your trades you add, a minority maybe? and on the majority of trades you do not add?

or perhaps it is futile for me to ask since you are primarily gauging market sentiment as you go, on discretionary basis and hence cannot predict which of the next 10 trades you are going to add to and which of those you are not going to add to?

is that a fair representation of part of your trading style in the ES?

thx again
 
Pedro is an imbecile not unlike you - he pushes his Trade Station buttons and trys to develop systems all the time and then he comes to me and tells me he has invented the holy grail.

Then tke market goes choppy and it all falls down.

I keep telling him he is a dick head. I even had an award made up for him a few years ago.

DICK HEAD OF THE YEAR,

I would love to give it to you for 2004 but I don't know how I could send it to this forum.

BBG
 
Can you imagine you are a bookmaker and you are holding all the money on horses that are running out of a place.

You have nothiing to lose so someone runs up to you and wants to put 1000 to win on nthe horse running second by 5 lengths.

Do you think you would take the bet?

Well this is how I look at it.

BBG
 
Mr. Gilmore:

You are a rather easy mark to provoke. Therfore I will obstain. However I notice the following. Your mood seems to fluctuate between concern for the public trader (in the beginning of your posts) followed by what one might take to be a more "authentic" display of rage that the rest of us poor slobs would dare to put you to the test. Even if we assume that most retail traders don't know shit about trading, one has to be concerned when we see this kind of display. One question that remains unanswered is whether or not someone who "feels" the market can transmit any kind of concrete rule set to the rest of us. My intuition is that you cannot, but I remain open on the question. As to the issue of stop loss, I have not been able to make a go of it using small stops. Also I have never seen anyone else do it. That does not mean it cannot be done. Again I remain open on the subject.

Maverick:
I admit that I don't completely understand your comment. If I am a bookie holding bets on a race. I am likely to lay off some of the risk elsewhere. If someone comes along to wager $1000 on a horse that is running 5 lengths back, how do I approximate the odds once the race is underway? I assume I use the last natural quote as a basis, but I have to alter it to take into account the shortened length of the race and the horse's current place (2nd). Right off the bat, I would say that if I cannot lay most of the risk, then I cannot take the bet. I am interested in your comment. Thanks, Lefty
 
Today is Sunday well it was now it is Monday 2:40 am I sat down in my office probably 14 hours ago.

Other than some walks around the house I have not been out of it most of the day.

In that time I have had lunch and dinner drunk about 5 glasses of wine and half a bottle of Scotch.

What do you expect.

Should I be sane right now with you guys or not?

BBG
 
Quote from WaveTrader2004:

I will never be doomed because every pivot a market makes is important to watch.

If it holds or if it breaks it tells you a story about market strength or weakness.

If the market breaks back through it the other way it tells you and story.

The market continues to tell stories all day long and if you are an idiot and don't listen to these stories you are a fool.

What can I say - I have tried to help you and I am not looking for any payment or reward. I just do it to try and help.

But a lot of idiots in here don't believe my motive because the are stupid,

So what is the answer?

BBG
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Hi wave,

Glad to meet you at ET. We love to have guys like you hanging around at our threads. We are used to a lot of crap though and smell it out rather quickly. If you like to use words like idiots and stupid, we also have a thread called "Chit-Chat" where you can easily measure your talents and might even find your masters.

I never got very far with the pivot stuff. In fact I believe it is sheer nonsense, something out of the buggy-whip days. I got your point when you told us that you don't rely on systems. Pivots certainly ain't one, I agree. I am very happy that you seem to make out so well with it. I indeed allow for people naturally talented in the ways of our game. From your record it sounds like you appear to be in about the same class as our ole Jack.

I can assure you that most of us are doing very well at ET. We have some kind of an etiquette not to bug people about the veracity of their claims. So nobody is going to give you a rough time about your pivot-based record. You sound pretty PRO to me though.

Be good,
nononsense

PS: don't forget to take a look at our Chit-Chat facility and phone your friend about it.
 
You have no idea of gambling and that is what this busiuness is all about.

You can gamble and control risk.

But this business is about backing winners and all your systems can't work out when a winner is coming.

I can work out the odds from the pattern and mood you can't

That is what makes me a winner.

You complicate your life with shit that is unnessessary.

I don't hate you but you are a conservative GEEK and that will never do.

You have to RIP them when the opportunity is there or just walk away and come back tomorrow.

Who taught you to do all the shit you are doing - you will bury yourself in bullshit the way you are doing it.

You amaze me you sound like a university geek teaching 1 st year economics.

BBG
 
Quote from WaveTrader2004:

Can you imagine you are a bookmaker and you are holding all the money on horses that are running out of a place.

You have nothiing to lose so someone runs up to you and wants to put 1000 to win on nthe horse running second by 5 lengths.

Do you think you would take the bet?

Well this is how I look at it.

BBG

I think I understand what you're saying

But you did not tell me whether you take that bet or or not on every trade. In other words, does every trade give you an opportunity to add or not?

I guess you've given me the best answer that you could afford, so I'll leave it at that

Thx anyways
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Well in due time we shall know the truth one way or another. In fact it will be a matter of hours now. I do agree you have to go for the throat when you see opportunity. I certainly have in the past wondered if I was cut out for this work. Over the years however I have learned to make money, and I have learned not to lose it again. This crude measure of success has convinced me that I am alright. I thank you however, for your concern.
 
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