Patuca

capt Bob casinos (quite the lucrative business by the way) make their profits by having a very slight edge over their gambling guests. It is called the house edge. It is based on math and probabilities...and well...maybe a few other things :rofl: It is basically a tiny statistical advantage they have. Plus they don't get greedy..they are quite happy paying out most of the profits and keeping a slight portion for themselves. They know that over time most people will leave with less money than they came with....sounds like trading eh? Wallstreet has its edge..it is called the bid/ask. The house will make the spread for the most part. The occasional big win doesn't frustrate wall street... Casinos hate card counters...why? Because the have figured out how to beat the probability factor that the casinos make their money on. Wallstreet hates expert daytrading scalpers because they take money right out of their pockets...they see it as an invasion into what is their territory, historically. This is one factor in the rise of hft firms..they are doing their best to "best" the successful scalper. MUCHO DINERO CAN BE MADE SCALPING ?(imo which i recommend no one follow). But scalping is intense and requires devotion..concentration..focus...quick thinking...bravery...passion...and of course a plan WITH stops. Some cannot, or will not, give themselves to such things...or they are unwilling to do so. Hence they see the alternative as going for the "big fish". I say; why not do both...if you like both? One can do extreme scalping...regular scalping..swing scalping..intraday.. And also swing trade or trend trade daily, weekly, or even monthly positions.... Please read hursts book on an explanation of why tiny small profits repeated on a continual basis can add up to a much bigger profit than an occasional big win....if one gets lucky to hit the big win.. I do both...they require different strategies with differing tactics.... Then you got the very long term investors..........a horse of a different color.

Good.... So if they ..taxi driver..barber...etc ..tell you not to buy then it is probally a good buy?

As for brooks he actually has some sound principles ...if one can figure them out ..as for disclosing his trades..well i thought he explained why he couldn't or wouldn't...:rofl::rofl: do you remember what he said about that? Sound principles.....DB and windbag Why? ...IF one can figure either out...:rofl: But i have a more important question i would like to pose to ANYONE.. What is an asset bubble? In other words, how do you know when an asset or a group of assets is in a bubble or have become a bubble? Thanks for comments.. Please keep in mind..every dog has his day...picture will explain in detail.. SO WHAT IS A BUBBLE IN AN ASSET? Patuca

In my dipstick opinion that nobody listens to ..always use stops in scalps but just out of stop gunning range....for decent money use size when scalping...longterm position can be with or w/o stops...ones choice...or simply mental stops.....maybe a puke point stop for comfort:haha:

I was poking fun of tradingwizzards post about "not using stops becoming fashionable" as his post was a poke at guess who? Me! Patuca...also a poke at suntraders post who said that "he was bearish until price says otherwise" .....and tradingwizzards reply to my question to suntrader ..."how do you know when price says otherwise"? Of course i probally just have a persecution complex..:rofl: :rofl: :haha:

you sir are a genuis....where have you been? Please make more posts on this forum.... Thanks! Patuca (aka as topdipstick1)

The gold ATM MACHINE is looking great to short near open of next session. But might want to let it trade up abit to top of the range first. The columbian liquid gold ATM machine (aka coffee) is still in repairs but may soon be fixed and be all ready again for dispensing cash. There are many many ATM machines. In fact they are all over the place..the problem is people just don't know the pin number to get the machine to dispense cash..i have given out free pin numbers but alas no one wants them:confused: no one even believes that it could be as simple as having a 4 digit pin number and the card to get the machine to spit out the cash.. I shall speak plain and without riddles... 1) the card is the context of price...namely RANGE. I SHOUT ONCE AGAIN..THE RANGE. 2) The pin number is the TACTIC USED to TRADE THE RANGE. I SHOUT AGAIN FOR THE HARD OF HEARING...the TACTIC. boys..THE TACTIC. For deeper understanding i direct you to my previous posts and to the following picture. Thanks Patuca

WELL....now i have been saying the plunge is coming haven't I? Helicopter ben and crew keep messing around with fate trying to genetically modify it....they will only succeed in creating a monster which will die and the DNA will start all over again..this time correct...however, the problem is the monster will take many dragons down with it and the dragons wiil pull the sheep down with them. Please make haste and study who the dragons are and who the sheep are.. AND make sure you are neither....TIME is running out...PRICE will plunge. Warning: do not listen to me. Ignore what i say..do not act upon anything i say. never do what i say do and NEVER EVER do what i do. I will say hello to your SL MM as i wiz by........

LOL :rofl: that is a good one... Lets flip a coin..place a trade and a SL...the if weez right weez right...if weez wrong weez wrong...our SL will tell us...actually there is a thread on TL doing this as i type...just for fun of course?? I actually heard of a guy that was profitble in the markets using a pendulum. If it went left he bought and placed his stop. If right, he sold and placed his stop or vice versa don't remember for sure. that was the extent of his analysis on price direction..he actually was a profitible trader doing this.... ALERT.....ALERT...ALL TRADERS...it is only with stop losses placed that you can determine market direction...oops..you ain't supposed to try to predict...i just keep forgetting...here we go again.. ALERT..ALERT..ALL TRADERS.. You must only react to the market...never predict..never attempt to predict...just place those stops...they will tell you if your ...shhhh..prediction is correct.... GRAIL=Stoplosses NOTHING ELSE IS NEEDED..Will some body please write a book on SL's and get rich.

sounds reasonable..now, how will you know when price says otherwise?

sorry i did not see that post or paid no attention to it as I am getting old...and miss details...etc. i was thinking you were expecting a breakout today hence my comments...i see you are not trading the intraday or even the daily range..i must learn to keep my mouth shut and read more...rather my typing fingers quiet.. i must take some medicine???maybe suntrader is right???

we are a minority..:haha:

are you saying you think gold will break 1300 today..this session?

me..well just me ...but i would be flat by end of session..can always enter back in on next session....

what contract you trading..my data feed only shows 1297.1 as high

You rocking capt bob...1297 inching closer to a breakout..:applaud:

Capt Bob is this manual free or for purchase? Where? Gann was a good tapereader....and predictor? Thanks Patuca

:thumbs up::thumbs up: capt Bob if i was long two contracts and my target was 1298 i would grab that profit quickly maybe 1295 or 1296 area and look to reverse and short 1295 to 1298 area. I would place a stop just out of range. If instead it breaks to the upside then i would close my short (if not stopped out ) double up and reverse to long AFTER i determined it was a legit breakout and not stop running above the range. why? it is in a range STILL.. brave of heart short at top of range and take profits on long. breakouts of ranges fail 70% or so of the time. of course at some point a legit breakout occurs and one will get stopped out. when that happens it elementary to get back the loss. just double up in the other direction ONCE it has proven to be a legit breakout and not just chop which will only increase losses. heres hoping i am wrong and you are right and she breaks 1305 and you sail on like silver girl....wishing you the best...:thumbs up: P.S. just dont let the winner convert into a loser because you are betting on a breakout before it happens.

at 10:01 a.m central time i said ES looking nice to short.within 19 minutes later bar 10:15 (on 5 minute bar chart) the short at 1687 presented itself. the ride down to 1679 was nice.. did anyone listen to patuca?? they never do....:helloooo: see MM all i have to do is do that 10 times and i am back my paper losses (as i still have the position) on the position trade :rofl: and still have my position for the plunge down :rofl: or triple up and get back losses faster...for scalping one should use SL..for intraday swing might be a good idea..position trading is a horse of a different color... remember ES is bearish..the plunge will soon come...are you ready? in the meantime you make money on the ups and downs per the theory in Hurst book....much more dinero can be made on cycle trading than position trading....:missy:

Sorry about the delay in my last post as i like to post beforehand, if possible, but in this case i could not do so as i wished. I could only post late, near close. I travel alot therefore must have mobile internet and i could not get a good signal in the area i was in the last two hours or so. it was very sporadic. anyway i see price didn't make it back to top of daily range as i suspected it wouldn't.

daily time frame and intraday 5 min. On the daily previous bar to the left outside bearish bar tail on top closing on the low....weakness . Then on the 5 min intraday for today we keep getting major trend reversals within a larger sideways range around the 1286- 1287 area near intraday top...this too indicates weakness. This intraday range has formed around 1287 -1281. that is why i would get out on ATM macine strategy on any rally towards 1288. Then short that top of the established intraday range. And cover as it falls towards 1281. Rinse an repeat... Basically trading a new intraday range within the daily range on your previous chart.. All ranges show same behaviour. I dont think it will make it back to top of DAILY range today by close. The atm strategy was playing the daily range. Time to get out of that..maybe past time and only focus on intraday range...in other words the move up for the day is over IMO.

Will explain shortly

dear capt Bob it is all in the chart...you don't need to correlate it with dollar but you can...here of lately QE drives gold.....promise of QE keeps it stable for the moment..but you know how politicians and bankers are.. All this wealth being built in stocks is a house of cards ready to tumble once the plug is pulled..the addiction to easy money is growing and blowing up the biggest bubble we have ever seen. When it crashes i will be riding it down...will you?

did anyone jump on the gold ATM machine for the ride up? not a single person claimed to jump on it for the ride down yesterday. typical range behaviour....race to the bottom..doubletime it to the top... PS watch. that top today...it may not make it all the way back to top of range..bar to left indicates that...however...it could make the top of range by the close because of irrational exuberance...i would be just ready to grab my profits if i perceived it has tanked....The gold ATM machine is dispensing free cash but where is the line of people waiting to get in? have they lost their trust in gold..abandoned what they perceive to be a sinking ship...remember the famous "boy plunger" of yesteryear? he said he always made his money sitting tight...not jumping ship... Remember gold is bullish...nevertheless..i would short it tomm, or today, once the top is reached...why? RANGE...RANGE..RANGE. 70%, maybe a tad more, of range breakouts fail..tactical strategy ...fade the tops and bottoms...providing you place your stops far enough away from trading range to be out of stop runnings filthy reach...one may suffer only one loss and that is when the range does indeed break out and hits your stop. P.S. The above is for educational purpose only and not for real trading..you can lose your money trading futures and simulated results are not the same as real trading..nor are my BS opinions. Never do as i say do and for crying out loud never do as I do... The ES is really starting to look nice for shorting. It is getting more and more bearish as time goes by...remember..time..price..symmetry Patuca

things are not as they appear...and as they are they shall be....