Urgent Message From Rennick

[balda]

Quote from MAESTRO:

A tip. The best trailing stop is 8% retracement from the P&L high water mark.

It will never work for my trading.

5 NQ on tick $25.00

Even if I am up 10 ticks $250 - 8% stop is $20.00 less than one tick.

If I am up $1,000.00 - 8% is $80 about 3 ticks

At which point you start using 8% retracement?

 

[MAESTRO]

Quote from balda:

It will never work for my trading.

5 NQ on tick $25.00

Even if I am up 10 ticks $250 - 8% stop is $20.00 less than one tick.

If I am up $1,000.00 - 8% is $80 about 3 ticks

At which point you start using 8% retracement?

It only works for portfolios in which a tick is equal or less than 1% of your min P&L level.

 

[shortie]

Quote from balda:

Don't be so hard on William. He's been honest from day one.

This is his quote from more than 2 years ago.



http://elitetrader.com/vb/showthread.php?s=&postid=960696#post960696

good point. i was pissed at Bill for him posting other people's calls but i should have been pissed at myself for not reading his disclaimer.

 

[shortie]

Quote from William Rennick:

Well, there was this little Korean Jackass who wa...ahh what the heck,,, let me just post the link...less work..

http://www.elitetrader.com/vb/showthread.php?s=&threadid=65265&highlight=chronicles+of+rennick

It's the 4th post down

thank you for the link! great stuff!

 

[William Rennick]

I just knew there was breaking news that spoiled the morning rally. Some big wheel at the fed is talking about an emergancy raise. He snapped off at 10:45 am.


http://www.reuters.com/article/marketsNews/idCAN0727783620080507?rpc=44

 

[gnome]

Yeah. One more day like today and somebody will start a new thread... "Raggin' on Rennick"..

 

[William Rennick]

Quote from gnome:

Yeah. One more day like today and somebody will start a new thread... "Raggin' on Rennick"..

LOL, the "Ball" actually was amazing today. It was positive at the open, even though the dow was down over 70, then rallied hard to the daily high, then news soured things. For the afternoon it called the sharp selloff. Hard day to trade... I reversed positions and am close to break even for the day.

Rennick out

 

[William Rennick]

Quote from William Rennick:

WED. 5/7 9:50 am dow -34

The mighty "Ball" is POSITIVE calling for STRONG Market action for the morning session. BUY THIS DIP!!!

Rennick out

Morning call

doing great until the Fed jackass started panicing and shot off his yapper.

 

[William Rennick]

Quote from William Rennick:

the "Ball" has turned NEGATIVE, and is now calling for further WEAK market action this afternoon.

Rennick out:eek:

And the afternoon call...


Rennick out

 

[dnk]

Quote from balda:

It will never work for my trading.

5 NQ on tick $25.00

Even if I am up 10 ticks $250 - 8% stop is $20.00 less than one tick.

If I am up $1,000.00 - 8% is $80 about 3 ticks

At which point you start using 8% retracement?

balda: don't take advice from liars