Trading For Living - S&P 500 Market.

Quote from 4DTrader:

Let me tell you what you are missing:

1. Death="I've been trading for several decades" You don't see death is waiting around the corner. How old are you?

2. Waste="One of the things I look at is the A/D line" You don't see A/D is a redundant correlation of market action. You have been wasting your time.

3. Humor="I recall reading a thread of yours where you were quitting" You don't see sense of humor. Maybe the concept is alien to you. If I quit, do I have to announce it on the Internet?

4. Erroneous judgement="Evidently you were fairly unsuccessful" You don't see the standard/definition of being successful.

5. Arrogance="here you are telling me all about the A/D" You don't see your own arrogance. A public forum is a two-way communication tool, not one-way: from you to others only. Even JosephStalinAdolphHitler had advisors.

6. Freedom of speech="It seems to me you should be reading, questioning, not opinionating" You don't see other people can say what they like to say on the Internet, First Amendment right.

7. Hallucination="Because whatever you believe evidently does not work" Actually what I believe works.
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Here's what your opening post said in your thread:

05-30-08 07:33 PM

People told me I needed a plan, so I made a trading plan.
But I changed my plan hundreds of times literally, because I changed it every day after a losing or winning day, and I have traded actively, part-time, for one year since May 2007.

People told me I needed to follow the plan, so I put the plan between the monitor and me, and I stared at the plan every minute.
But I just couldn't follow the plan. As soon as I entered a trade, I forgot the plan, ignored the plan, and started to do whatever I was led to do.

So I have decided that trading is not for me. I quit! I will not trade anymore! I don't want to spend several more years doing this (I heard it needs 5 years, too long for me).
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From this we learn you've been a part-time trader for a year, who cannot follow a plan, have decided trading is not for you, and that you're quitting. Evidently you have not reached a "successful" level (you heard it takes 5 years).

Again, given this, I wonder why it is you are expressing with such confidence what works and what doesn't. If I were you, rather than showing my stupidity, I would be trying to learn what works and what doesn't, since you clearly don't know yourself. You'd be better off keeping your mouth shut, and your eyes and mind open. However, it appears there's little chance of that.

Either way, it makes no difference to me how you trade. I'm not trying to convince anyone here to use the A/D. It's only context, as I already said.

OldTrader
 
Quote from OldTrader:

Here's what your opening post said in your thread:



From this we learn you've been a part-time trader for a year, who cannot follow a plan, have decided trading is not for you, and that you're quitting. Evidently you have not reached a "successful" level (you heard it takes 5 years).

Again, given this, I wonder why it is you are expressing with such confidence what works and what doesn't. If I were you, rather than showing my stupidity, I would be trying to learn what works and what doesn't, since you clearly don't know yourself. You'd be better off keeping your mouth shut, and your eyes and mind open. However, it appears there's little chance of that.

Either way, it makes no difference to me how you trade. I'm not trying to convince anyone here to use the A/D. It's only context, as I already said.

OldTrader
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Ouch..........Busted!
 
Quote from OldTrader:

Steve:

Don't know if this post was directed at me, since I first used the number "3200". In any event, I've been careful not be critical of Becky's system. In fact, I don't really know what her system is.

However, as to the NYSE A/D statistics, the total is 3200. This includes both operating and non-operating companies.

Of the total 3200 stocks, about 1700 are common stocks only as shown in Barrons. So this would not include things like preferreds. The best estimate of operating companies only is about 1200.

However, when you see the A/D intraday, or you look at it as reported on a quote provider like E-Signal, they are looking at total NYSE stocks....that 3200 number, which includes everything.

OldTrader
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Hey Oldtrader

According to NYSE the correct total of listed companies is 3244

I will look into the other stats. Its a good thing to know for other purposes.

Thanks for your comments

Steve
 
Quote from OldTrader:

Here's what your opening post said in your thread:



From this we learn you've been a part-time trader for a year, who cannot follow a plan, have decided trading is not for you, and that you're quitting. Evidently you have not reached a "successful" level (you heard it takes 5 years).

Again, given this, I wonder why it is you are expressing with such confidence what works and what doesn't. If I were you, rather than showing my stupidity, I would be trying to learn what works and what doesn't, since you clearly don't know yourself. You'd be better off keeping your mouth shut, and your eyes and mind open. However, it appears there's little chance of that.

Either way, it makes no difference to me how you trade. I'm not trying to convince anyone here to use the A/D. It's only context, as I already said.

OldTrader
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Maybe it's your age. You just don't absorb. Let me repeat

Number 3 that you are missing.

3. Humor="I recall reading a thread of yours where you were quitting" You don't see sense of humor. Maybe the concept is alien to you. If I quit, do I have to announce it on the Internet?

When you get senile, nothing can help you.
 
Quote from steve46:

Hey Oldtrader

According to NYSE the correct total of listed companies is 3244

I will look into the other stats. Its a good thing to know for other purposes.

Thanks for your comments

Steve
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Just a small point, but according to Barrons, every day last week we traded more than 3244. So I would guess that number is out of date.

Here's a link to Barrons. Scroll down to NYSE Composite Daily Breadth:

http://online.barrons.com/public/page/mlab_trading_diary.html

You can also review the NYSE Common only statistics at the same link.

OldTrader
 
Quote from 4DTrader:

Maybe it's your age. You just don't absorb. Let me repeat

Number 3 that you are missing.

3. Humor="I recall reading a thread of yours where you were quitting" You don't see sense of humor. Maybe the concept is alien to you. If I quit, do I have to announce it on the Internet?

When you get senile, nothing can help you.
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No, I don't see any humor at all in your posts. Here's one you posted just today....was this also an example of humor?

07-01-08 04:15 PM

Still changing method, the current method has medium high probability, though there is a high-probability method that I can use, but it takes a lot of patience and leaves some decent opportunites on the table. This high-probability method will almost guarantee that I am a profitable trader, but I need action and right now choose the medium-high probability method.

About today's mistake:

First trade went against me, left it to develop into a 25.50 points loss, huge loss. Well, the usual mistake: did not exit.
The same mistake was repeated for a 10.25 points loss.
Aslo entry rule was not followed, a few sloppy trades.

Changed into a different intrument. Scored 15 success trades vs 2 failure trades, however, the second of the failure trades cost 10.75 points, that wiped out all of the win points: 9.00. Cause: failure to exit a short position during the end of the day rally after GM's better-than-expected numbers were released.
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By the way, you don't have to post you're quitting on the internet. But you did. LOL.

When you're a moron, nothing can help you.

OldTrader
 
T4L,
during RTH, could you please take a screenshot of the adv-decl indicator AND please include a time line along the bottom so I can see how the numbers correlate with other datasource at specific times.

If anyone out there has same feed (Esignal) as Trade4Living, could you post this A/d indicator identifying the specific trade day date, along with a time-line, just a few 5minute bars would be all I need as ling as I have the date and the timestamps, general value of a-d index.
 
Quote from steve46:

Hey Oldtrader

According to NYSE the correct total of listed companies is 3244

I will look into the other stats. Its a good thing to know for other purposes.

Thanks for your comments

Steve
More...

Have you considered the software could be compiling statistics from all the major exchanges (NYSE+Nasdaq+Amex)? Nasdaq has more than 3000 companies
 
neke,
I wondered about the same thing.

I looked at total issues traded for the past week for each of the markets and just wrote down some ballpark numbers.

NASDAQ 3030
AMEX 1300
NYSE 3280

these are total issues traded, not just common stock.

sum of all three (just ballpark) about 7600.

If this adv-decl index available can print levels like 10,000, then it has to be modified in some way, not necessarilly giving an absolute difference between advancers and decliners.

I fooled around with the following equation based solely on the NYSE adv and decliners.

Esignal might be using an equation something like this, with a multiplier to insure whole numbers (if the adv-decl index referenced is exclusively NYSE based, the following formula would produce numbers akin to those mentioned in the thread).


((NYSE advancers - NYSE decliners) / (NYSE advancers + NYSE decliners)) *10000

attached is chart showing yesterday in 5 minute bars.

formula above is represented in the subchart.

does anyone out there have this adv-decl index from ESignal? If so, can you tell me are these numbers anywhere close?

use the high in the adv-decl index (-2366) just before the morning decline.

use the low in the adv-decl index (-5769), the lowest point after noon to tell me if there is a ballpark here?
 

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