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Patuca

Market Wizard
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Posts posted by Patuca

  1. Posted

    On 9/13/2013 at 6:50 AM, johnw said:

     

    Hello MK,

     

    There are many instances of these mental experiments and they do make us think ... as indeed they should.... in many human endeavours, especially those that require one Learned Soul passing un(semi) quantifiable to a hungry Student, it works.

     

    However Trading is as quantifiable as it gets ... just look at your daily Brokerage Statement.

    It is even more exact than being the World's fastest man... even if you run the 100M in the fastest recorded time, there is always the suspicion of drugs hanging over the Runners head.

     

    Trading is brutally honest.

     

    And so when People tell us things like 'S&R doesn't really work" they are demonstrating the limits of their range of their thoughts or assumptions on the subject.

     

    When I say to Handle 'the supply/demand zones exist intraday CL' ... I say this because I can see them.

    I do not say to Handle that if he doesn't use them then he must be nuts, because that would be a presumption on my part... Handle is a Trader and answers only to himself.

    S&D zones are the result of Longs and Shorts doing battle and the Winner controls the next Price Wave ... to me this is the very essence of market structure and it is the guts of trading.

    The Zones will be as long as your bars are small ... it is your choice entirely how you choose to exhibit your price information.

    Once we accept these concepts, then we can decide how we are going to build a mathematical edge that is applied consistently.

    Without this edge we are dog tucker.

    Without this edge, Retail Traders who are well funded will take longer to go broke than Traders with smaller balances.

    However the Trader who grasps the structure of the market and who builds a mathematical edge will grow their account.

     

    In short ...

    It doesn't matter what you do, so long as you grow your account.

    This means that any/all experiences, opinions, thoughts and assumptions should be embraced openly and put to the test mathematically before any decision is taken.

     

    This is a brutally honest game ... and I mean that we have to be brutally honest with ourselves in every respect.

    These support and resistance areas can in fact give an edge. But not necessarily a guaranteed edge. Nothing is guaranteed in the markets.
     

    Support and resistance are indicators of where the  institutions have battled it out since they control price movement. At all times there are bullish and bearish institutions in the market. Price will be pushed and pulled to resistance and support. At those key points one side will win over as both are usually exerting pressure. If bullish institutions win then there will be a BO of the resistance. Likewise, at support if bears win price will break out of support. They key  imo is what happens right after the BO. Is there a PB then a continuation or is there a reversal? Bears will try to reverse a BO of resistance.  Bulls will try to reverse a BO of support as price moves down. 

  2. Posted

    12 hours ago, bobcollett said:

    Hey Patuca

    How you doing?

    I was thinking about you the other day. I  have this option on the Brooklyn Bridge and I know how you love a bargain.

    Let me know

    Kind regards

    bobc

     

    LOL

    I’m doing good. Haven’t been posting much on Traderslab. Been posting some on elitetrader.

    Mitzy still around?

  3. Posted

    12 hours ago, bobcollett said:

     

    The beat goes on, after all these years...........

    Hi Farridin

    If you wanted to learn to play golf, what would you do?

    Read everything you can find on Golfers Laboratory. Study all the books on the subject.Talk to lots of golfers.And practise on the range... lots.     SIM . Then you have a few real games.Not quite what you expected.you need some lessons!

    The same with TTT. Find a mentor.And if you have to pay Richbois, it will save you years of struggle.

    You must have the same chart as the expert and follow him with the count, see when he enters/exits. Otherwise you are wasting your money.

    Try Elovermore, if hes still around.

    And after all the lessons, you will face five up days in a row  F..k   Nobody explained this

    And the you face  nine down days in a row, double f..k

    Good luck

    bobc

    PS Dont listen to zdo

     

     

     

    Hey captain Bob!

  7. Posted · Edited by Patuca

    This was an easy trade even for a dipstick like me. I have marked up the OP's chart. Why make it hard? Price nearing end of day been in a range for quite some time. Odds donot favor a breakout before close. Range behaviour is race to the top..reverse race back down and race to the bottom..repeat.....ad nauseum until a B.O. succeeds. The idea is go long at bottom of range. Short at top. 70% to 80% of B.O. fail. They may break above or below the lines but usually price get pulled right back into the range. This was few years back so i have no idea what actually happened but i would guess price went up to at least or near my x on the chart and maybe to the top of the range before reversing again. The tactic is go long somewhere in the circle area on the chart. Also, any dipstick can see that the red bar in the circle showed buying pressure coming in at the close. Unless, the dipstick has chicken sh$t in his/her eyes. What else does one need? Price in a range..Buying pressure at the bottom. Nearing end of day.

    IMG_3153.thumb.jpg.5a56eef9f0bddbdaeeee16dd82b5dee9.jpg

  8. Posted

    For Mit...

     

    1) Do you think the amount of money put into an equation has any connection to supply and demand at all?

     

    2) Define supply and demand. What creates it?

     

    3) Does supply and demand have anything to do with price? If so how?

     

    Thanks! Good to see you back. I been have been gone a long time.

  9. Posted

    mm,

    good post. yep

    ‘institutional trading’ after 1980 reminds me of

    Of Two Minds - Governments Change, the Corporatocracy Endures

    and

    Cat's Cradle - Salient

     

    beyond,

    re;

    "At least I know how mitsubishi feels now.. This still doesn't answer the question."

    it appears dominover is looking for a description of pre 1980 ‘institutional trading’

     

     

    patuca,

    I disagree there are only two types of ‘institutional’ trader. I discussed a third type above - which if you have to have a single word for is best summed up as ‘narrative’ trading among networks (...to be clear - these narratives are NOT fundamentals. ...and btw, the real ‘narratives’ are rarely publicized... rather the financial media is complicit in generating false narratives. )

     

     

     

     

    – Henry David Thoreau (1817 – 1862)

     

     

    - zdo (1542 – 1636)

    :rofl::rofl::rofl::rofl:

    :rofl::rofl::rofl::rofl:

    :rofl::rofl::rofl::rofl:

    of course you are correct. i didn't actually mean only two. You got darks..pools...trading on insider info...etc

     

    I was speaking in general terms.

  10. Posted · Edited by Patuca

    I have always wondered about something.... What methods do institutional traders (from Investment Banks or Hedge Funds) to trade stocks?

     

    I always thought they would have to justify their choices of trades by tying each trade back to some solid science. I can't imagine they would say that they saw the 'head and shoulders' pattern and bought on that basis.

     

    Do they use Charting. If so, do they do this by looking at charting patterns or other acceptable techniques?

     

    Also.. Do they only follow the day to day news and react like everyone else?

     

    I'm curious as to what is considered an acceptable method used in trading in reputable institutions?

     

    Is there any book recommendations which walk you through how institutions go about this kind of thing?

     

    Thanks

    Institutional traders are of two sorts. Those that trade on fundamentals and those that use technical analysis. The fundamental determine the general trend and the technical determine the "path" of the general trend. That is, over the long haul the fundamental institutions determine the longterm trend and the technical institutional traders determine the shorter trends. Hft's are a type of institutional technical traders that micro scalp. Nearly all technical analysis is mathematical in nature. So yes, the technical institutions look at charts and trade patterns. They especially pay attention to support and resistance. Fundamentals pay more attention to value. When they think it is cheap they will begin buying in quantity. When they think it is overvalued they will begin selling. However, generally speaking, it is the technical institutional traders that drive the mark to the undervalued levels and to the overvalued levels. Institutions trading on value will load up their positions when they think the appropiate value has been reached. The markets move because of institutional size trading. The chart leaves their footprint. They cannot hide it. As Mit says "everything to the left in a chart is free info" it tells you what they are doing if you know how to read it. News, in general,m is useless because there is always a bearish interpretation and a bullish interpretation of it. Take the brexit thing. Bearish...now recovering...soon to be bullish..the charts will show it all and tell you all you need to know.

  14. Posted

    patuca aka then came bronson ;) wherthfk you been? anyways

     

    although it will radically change, manipulation will never end...

    true true true..manipulation has always been and always will be, however, there are times of concentrated manipulation that when over drastically generates big price moves.

     

    I have been to central america then..south america ..argentina..land of <<el che>>. Now back in usa in mississippi. Soon to go to alabama. Hope the crimson tide wins national championship again jan 11 in college football.

  17. Posted

    One thing is for sure: countries with banned guns have lower homicide rates, because some angry Joe cannot shot everyone up after he came back home from a bad day, drunk bottle of liquor and decided "hell with it".

    Tell that to chicago.....or mexico..

  18. Posted

    We have the political, purely pretentious ‘war against women’ and we have the real, truly global, war against women. The real war against women can only be won by women and men with guns.

     

    It was not a paid guard, it was not a patrol officer, it was not a swat team, it certainly was not Reichssicherheitshauptamt (aka dhs.. or one of its sub agenturen - like the fbi). Rather, it was just a man with a gun who stopped the Oklahoma beheader from beheading another woman. If a man with a gun had not been there and had not shot him, Nolen would have finished his attack on a second female victim. And after that, who knows how many people he would have killed before some heimwehr workers arrived to ‘exterminate’ him, cordon off the area, and take care of the paperwork and coverups.

     

    Yes, this is just one case… a case MSM and our gun grabbers are required to ignore or downplay (and secretly wish had gone wrong for the man with a gun). But using one case is ok. It was one case - a case more about debauched psychiatry than about unsuccessful gun control - what got this thread started long ago.

     

    btw …the fake 'lies is truth' war against women and where it leads ultimately may have to be dealt with by women with guns too… :missy:

     

    we now return you to your regularly scheduled bid monkey hft-ing ;)

    golf clubs work according to MM but who runs around with golf clubs unless we could talk all criminals into commiting their crimes at golf courses.....LOL :rofl: :rofl:
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