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srag&birdie2

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Posts posted by srag&birdie2

  1. Posted

    You would want to use any volume that is related to the s&p 500 which is the underlying instrument of the S&P emini (ES). You will notice that there are times where the volume, for instance, on the ES has a dramatic increase and the S&P volume of all the stocks traded in the S&P did not have a dramatic increase in volume. The dramatic volume from the futures contract may generate a signal where as if you were using the S&P 500 volume you would not be entering or exiting the market. To me this leads to a discussion of whether one leads the other, which tells me that sometimes one does and sometimes the other does. If that is the case, then the value of the signal is watered down if you cannot gauge the complete volume picture. So using price along is probably a cleaner approach.

     

    I am not suggesting anything about the software since i have never even seen it, but fundamentally, I wouldn't use it with ES for the aforementioned reasons unless I could get a complete picture of the volume traded.

     

    This kinda response tells me you think too much! Way too complex, bro.

     

    If you trade the ES, jus use the ES vol. Don't complicate yur life

  2. Posted

    I find it disconcerting to use PnF when I can't see the individual bars of the equity and can't use other indicators ..................

     

    Well, I find it disconcerting that you want to use price bars and indicators with P&F.

     

    P&F is a very old method -- way, way before indicators and way, way before bar charts.

     

    What you have onyour chart is not P&F. It's more like Darvas Boxes. You can look inthe 'Cajas Famosas' thread for more of that (which clearly ain't no Wyckoff and certainly ain't no P&F (so why it's in Wyckoff I don't know) -- I would say it is more like Cajones Famosas, but who be me?)

     

    Get yourself a good Wyckoff book-like the course-or track in with Motorway, Darvas Boxes don't really make no Wyckoff, though they seem to truck here. Like I say, this ain't it, mo.

  5. Posted

    Interestingly, Wyckoff was very concerned about manipulation and studied it carefully. He saw large stock manipulators running up the market to unload their holdings and selling down the market in order to cover shorts and buy at favorable prices. This is seen nearly every day still in the markets. If you read the original Wykcoff material, you will see this in spades. He was always tracking who was doing what to whom.

  6. Posted

    My Mama was related to Gann - a grand niece or great cousine or some such thing like that. I don't know, exactly. Anyway, she was certifiable, my Mama. A great soul, but I mean really nutz. I love her of course, but Geeze-uz. The stuff we went through my sisters and brothers and me. I had the craziest childhod - you don't want to know. That was enough fo me to know Gann was off limits once I was old enough to know better.

  7. Posted

    In the end, I would think that most problems folks find with this approach is similar to what keeps most folks struggling regardless of the system/method/approach - there is bias, probably emotional, possibly intellectual, frequently both, that is standing between the trader and successful execution of a trading plan.

     

     

    I find that very difficult to agree with. Bias is never an issue to the professional trader. For novice trades & traders who haven't become profitable, then a lack of of simulated trading is. If you paper trade in a serious manner until you get it right, you will have little problem trading the markets. On the other hand, if you jump right in and then listen to the self-appointed 'gurus' who tell you your problem is other things and you believe it, then you've got a problem.

     

    ... just a-strumming da' blues an' a tradin' to my heart's content - oh my ...

     

    Light 'in

  11. Posted

    Hi

    I am wondering if it would be possible to plot the number or frequency of large block trades? For example, could the frequency of blocks of 100 or greater contracts in the ES be plotted as a histogram? I am not swift enough in EL to know whether this could be done or not, but think it would be of value in identifying tops and bottoms

  12. Posted

    Taking Thales point above into account, Snag, please don't take this as an attack on your or your intelligence.
    .

     

    You can attack my intelligence, if you like. It's OK with me.

     

     

    I am a very organized trader. But I am not a disciplined trader in the face of risk and emotional distortions that result. Hence, although I can read the markets better than I can systematize them, my lack of really good discipline under monetary risk means that I am probably better of systematizing my ideas and auto-executing them.
    .

     

    I would bet that you have not been organized or disciplined in addressing the emotional side of trading - You refer to Mark Douglas and this is one of his main points - it's not enough to spend all or most of your time on the technical side; as much and maybe more is needed here. If this be true, then I would say your effort has fallen short of a well-organized and discplined approach to trading and could be improved with practice.

     

    Similarly, my friend lives in a messy house and is bloody disorganized. He doesn't have a written trading plan and he turns up at the trading desk when he feels like it. He leaves on the same basis. He changes styles without "proper" research. But he is very disciplined under monetary risk in the sense that Mark Douglas means (operating without fear or greed). His breathing rate goes up etc but he doesn't let fear or greed change his approach - he does the same thing he'd do on paper or with twice the risk. He is very disciplined and as a result he is consistently profitable. But he is also totally xxxxing disorganized.

     

    If you see what I mean?

     

    To me, finding examples that break the rule doesn't really prove the point. Frankly, I think it more of a 'trick' the ego plays to avoid what it doesn't want to do. Take the hard task of quitting cigarrettes as example. Here's the kind of excuse the ego gives: Pablo Picasso smoked 40 nails a day and lived into his 90s, so I should be able to ignore health risks, too. Bullocks.

     

    Your friend may appear consistent, but how much better of a trader would he be if really disciplined? Discipline is very hard work. Few want to do it. We make up all kinds of stories to avoid the work and feel good about it. Some person said above that athletes have natural abilities and this is why most aren't champs in sport. I'm sure that makes the ego feel good, but, sorry, not true. Hard work, mate. Little more. Practice and more practice - never ending practice (simulation) with the committment that no matter what, they will strive to be better than yesterday. Talent has little to do with that.

     

    Cheers to your thoughtful response

  13. Posted

    However, due to some defect of character

     

    I want to thank you very much for letting me and others know I have "some defect of character." I must say, I really appreciate that. Thank you so much!

     

    In fact, I think so highly of this kindness you have offered, that I have put it under my name up above. I am so proud I can hardly sit still!!

  14. Posted

     

    Thats not necessarily true. Some people are natrally a bit more disorganised but that doesn't mean they will be bad traders. Just because you don't catalogue everything doesn't mean you're destined for failure. People work differently.

     

    If you are disorganized, you aren't disciplined. If you aren't disciplined, you aren't consistent. If you aren't consistent, you aren't a good trader. You can learn to be organized, but it is effort.

     

     

    Sim trading doesn't teach you how to control the emotional side of trading.

     

    If you do it right, it will. Why would pro athletes practice in sim every day? No cheering crowds of fans or opponents. No athlete would be daft to step onto the playing fields without beaucoup sim. It is good this mindset doesn't qualify airline pilots!

     

    If you are causual and undisciplined in your approach to sim, you won't learn the emotional side. If you are causal and undisciplined in your appraoch to live trading, you won't ever learn the emotional side, either.

  16. Posted

    You probably should have read the posts from Thales before you made the statement highlighted in bold in your reply to his post...

     

    Given that Mr. Thales has made exactly one post on this thread (the one above mine, and the one I commented on) I think I did read his post before making the statement I made. So, other than demonstrating the use of a yellow highlighter, what is your point?

  17. Posted

    I am in the camp that generally finds paper trading of only marginal usefulness {/QUOTE]

     

    I think it depends on how you treat paper trading. If you treat it with the utmost seriousness, record all your paper traders, tract your win/loss, commit to really learning from your mistakes, etc, then it can serve you very well. There is probably no better teacher. If you treat it as something that is just a game, don't record trades, sweep the mistakes under the rug 'cuz it is better for your ego to ignore them, etc, then it won't be of any help. Funny thing from what I've seen is that those who treat sim trading as useless because it doesn't have the money behind it are the ones who have emotional problems in real trading and burn through their accounts. They can't wait to jump into the market an trade. The hard truth is if you can't treat this as a serious business, ya won't be in business for very long.

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