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jpennybags
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Posts posted by jpennybags
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Cokie Roberts would be interesting to talk to for an afternoon... history, world events. I think she would grow weary of talking to an idiot like me though (about 15 minutes).
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Killing a snale means showing strength and boldness , if you never killed a cobra , means no fuzzy talk .So show some proof of using any of these indicators profitablywith diagrams , would be better than some useless indicators.Otherwise it would be snakes and knickers.
I think I better understand... thank you for the clarification.
I don't make use of indicators to place trades, so sharing my limited knowledge would be of little help to anyone. I was merely welcoming Gannfan1 to the forum.
It's amusing... "killing snakes" has a completely different meaning for me. To "kill snakes" is to resolve pesky problems that arise. If I said: "I spent the day killing snakes"... it would mean that I spent the day resolving problems and got little else accomplished.
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Hi JennyYou must kill a snake , before they believe u ....,,,,red indians,
Speaking of killing snakes...
If you have something to say, why don't you write in a clear manner? If you are trying to make a statement... make one; no one can read you clearly otherwise.
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Dear AllAm a trader from India. Am using an Indian software called Falcon 7 - which provides most of the Indicators provided in software like Metastock, TradeStation etc. Am hoping to learn from this forum as well as share my learnings on this forum.
Cheers
Welcome to the forum...
As I understand it, the Falcon7 trading platform is widely used by traders in India and is a robust software. This forum has a great deal of information concerning the use of various indicators. Please make use of the "Advanced Search" to find specific information.
Best of good fortunes to you.
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Dealing with risk in trading or gambling is learning to survive while dealing with outcomes that are not happening but should be happening. It is easy to assign personal brilliance to a positive outcome, taking credit for being in the right place at the right time. The risk while laughing all the way to the bank is that the same frozen urine spear will crush your skull as you walk from your car to the front door of the bank. In the long run everything happens.Please send along pics if you wear a helmet while going to the bank.
Ha! "Always wear clean underwear... cause you never know what will happen".
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I'm really liking this story... girl scout sets up cookie sales to medical marijuana patients.
You go, business girl!
Why one Girl Scout is selling cookies outside a pot clinic - CBS News
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What's more important the way you manage your winning trades, or the way you manage your losing trades ?I think both should share equal weight. Calculating risk has many factors: W/L ratio, time of day, trend vs counter trend, the market traded... and so on. Each time I enter a trade it's at a R/R of 1/1 and roughly 6% of my account. I manage risk through entries, exits, and price action... the W/L ratio is high and I rarely get tagged for a full stop.
In trading there are no absolutes. Wait... there is one: don't lose money.
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Hi,I'm looking for ideas of indicator / method / ideas for spotting extreme overbought oversold level, to act on these area and play counter trend.
Thus far I retained 2 good ones:
- Kelter channels when prices goes out of it
- Current price distance from Moving average
Any better ideas ?
If your trading platform supports it, pull up a tick or volume chart and observe how price action supports (or doesn't support) a countertrend trade. Counter trend trades can make for a good day in the aggregate, but it's not something that I would use as a "bread and butter" trading method. Trading counter trend is a riskier trade, and Keltner bands are kind of a "blind faith" way of trading (with nothing else to support it).
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I think JPennyBags comments really depends on the market one is trading and I personally hate the advice of only trading with the trend as it is too vague and general a comment that does not transfer well to all markets or timeframes that the trader may be trading.
MK
Can't disagree with that. I take counter trend trades every day, but my bias is with the trend. I will bail on a counter trend trade in the blink of an eye... show me a single doji bar and I'm gone. I think in a general sense trading with the trend is good advice... even from a scalpers perspective. I'd rather sell the top of a Keltner band in a downturn, than buy the bottom of the band. It just seems that the odds stack up better.
I would also add as an addendum... the reason I take counter trend trades is sometimes I'm feeling it. Don't know... not opposed to it... just don't make a living of it.
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Hi,I'm looking for ideas of indicator / method / ideas for spotting extreme overbought oversold level, to act on these area and play counter trend.
Thus far I retained 2 good ones:
- Kelter channels when prices goes out of it
- Current price distance from Moving average
Any better ideas ?
Counter trend trading can be a difficult road to take. Price action will always try to revert during a trend, but these moves most commonly fail... until they don't. The moves are almost always short lived... until they aren't. In my opinion, it's always best to trade with the prevailing trend, then wait for price action to signal that the trend has changed before taking a trade... always trading with trend.
I use a Chande Momentum Oscillator with a 5R chart. It seems to be a good cautionary indicator for when the move is losing momentum. That said, the market is never truly overbought or oversold... any indicator that you use must be taken into context of current price action.
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Even with my stops that I always use and never move the wrong way, it seams my trades pan out about 20% of the time. After all my research and hard work, I don't understand how I could be this bad at it entries. I have been trying to use 5 minute candle charts, with volume, trendlines, and resistance...but I guess I nee
I am down to my last $25,000 that I can try to make this work before I have to give up. All I am searching for is some entry points where the price will move in my favor 55% of the time.
Every time I read a post like this, the first question that comes to mind is: "why are you trading live instead of simulation"?
A day trader with discipline can make money with a win rate of 40%... it gets progressively harder the lower that number gets. Trend traders can make money with a low win rate, due to the size of the winners, but that type of trading is for much longer time frames.
I don't care what someone else does with their money... 25K may be pocket change for you... it's none of my business. For most of us, puking up 25K would hurt. Switch over to simulation until you can get profitable.
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They do have urine stained clothes.You are distracted by the blue tooth headset.I can't stand it when I see people in a social setting engrossed by texting, off in another world with others around them. It is no different than talking to a person who begins to stare out the window and ignores you.
Ha... agreed! The only thing that the urine stained and the bluetooth folks have in common is that they both think the voices in their heads (and the ensuing conversation) is truly important, and of great meaning.
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I enter my passwords in a spreadsheet that is stored on a flash drive that I use as a key fob. The spreadsheet is password protected as well.
I'm always mildly amused when I see someone with a bluetooth headset talking on the phone. It seems so much like they are talking to themselves... just yammering away. Before that technology became available, people who did that were usually sporting urine stained clothes and living on the street... always makes me grin.
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I think it corrected. I think the low was tested. I think es will resume it's climb to newer highs. Most or all other indices will follow or lead as the case may be.It seems to be that there was a lot of buying below and there continues to be a lot of shorting which will lead to low volume upmoves which tend to be misleading and confounding.
There is no known good reason for the market to continue lower. Tapering is not a good reason for the market to go down. I would argue just the opposite.
I would agree... "the taper" makes no difference. Everyone has known that the taper was coming, evident and necessary (actually relieved that it happened). I watched the tepid low volume buying on Friday afternoon... no sellers. Interesting to see how next week shapes up. I think we will have some contention at higher levels (what else is new... that's what makes a market).
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I'll help you out.You thought the direction of the dow would be impacted, somehow, by the nfp number.
I thought the market would go higher no matter what the NFP number was.
Benevolence ended.
Help me out... like I need it (ha).
Certainly there was a technical bounce due. It may well be that this is not a correction but just another BTFD situation (it's really too soon to call this a correction). I trade the TF contract. It was clear that the sell side was exhausted (for a time). I'm sure that was evident in the ES and the YM as well. The TF buy side was not impressive... I would've liked to have seen it trade into the 1117 area (from a technical perspective, it was lack luster). The YM and the ES were a little more aggressive. I must say... I don't know (nothing new for me).
What do you think... "a correction" is in the works, or do we turn and go higher? I'll even give you an out... "does it matter?"
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like mentioned at the start of the thread, no one really know what data means anymore...good data is bad data, bad data is good data, who the heck knows...so NFP missed and sent Dow +165 points higher...excellent
correlations suck
TW
"Bizzaro World"... trade it as it happens. Had a good day today (a good week actually)... nice to see volatility back.
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nice answer, gave it a like .....I just want to add that if the NFP is missing, won't markets jump on the long side saying Fed must do something?
TW
I think the market read is that the FED is committed to the taper. If it were a huge miss... say like December... that may drive that kind of speculation (who knows). As usual, the market would have to bring on some more misery to get the point across. Any miss on the number (seems to me) would weigh in for the sell side.
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Technically, the market is due an oversold bounce. A beat on the NFP would certainly fuel that. If one trusts the ADP numbers, there may be some question if a beat on the NFP is likely. If market expectations are correct and the number comes in at 175 - 180K that is still just a bandaid for the horrid number in December, but it would still allow the FED to continue the reduction in QE.
I don't think that NFP or QE is what is driving this correction. I would also think that a rally on an NFP beat will get sold in the following week. I love trading to the downside, it may just be that's my bias raising it's ugly head (Ha!). We shall see.
As always, my plan is to play it as it comes... 5 minutes at a time.
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Only when tied to a dock, this way I had the marina wi fi as backup.I traded down to a 36 ft trawler from a 42 ft Sail. There was a fellow a few slips down at the end of the dock. He had a 110 ft. Motor yacht. In the parking lot he and his wife had "His and Her" Aston Martin DB9s. He told me he made all his money trading coffee. ( your mention of James Bond reminded me of the cars
).BTW. You may want to consider a backup generator. I don't know about Kansas, but here in Upstate NY it snows a lot which means a lot of power outages.
A backup generator is standard issue for anyone living outside the metro areas. In Kansas we don't have our own weather... we get other people's weather. For a month during the summer it's too damn hot, and for a month during the winter it's too damn cold. You can expect a bit of everything. Tornados, microbursts, freezing rain, drifting snow, blistering hot asphalt melting heat. Sunsets, sunrises, and a gentle and subtle beauty balances the scales... it's home for me.
I would have to get much larger to afford the yacht and the life at sea... dare to dream. I suppose that once you've reached that place... internet connections are of little concern. It would be cool.
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Mystic... do you ever trade from your boat? I gave that some thought... that would be "James Bond" kind of cool. Imagine a yacht cruising the coastline... sunshine, fresh sea air.
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I have satellite on my boat ( mounted on a gyroscope to compensate for pitch and yaw), and at a rural home. Both work well except during very heavy rain, or if the dish gets covered with snow.P.S. Congrats on getting out of the city.
Is there any way to monitor the speed and quality of data transmission? I suppose that there may be software available that runs in the background that would ping a server site every few seconds to monitor data transmission.
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There is a lake side property that I am considering purchasing. The lake is about 40 miles out from the city and my current residence. There is no cable access. Ideally, I would like to make the place my full time residence and sell my house in the city. I have a couple of options: rent office space (20 miles from the lake), and commute… or satellite internet access. I'm curious if anyone has tried satellite internet for trading and how well it worked.
Thanks.
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markets trying to force Fed hand......still tapering?......maybe yes, but they will come with some stunt like keeping the rates lower for the next 100 years or so..........and usd will be vanished......this is positioning for fomc already, make no mistake.......TW
From everything I've read... the market believes that the $10B reduction is a lock. The FED has already stated that interest rates will remain low for some time to come (100 years... don't know... don't care). It's all well within guidance. How the FED unwinds is still up in the air... they don't know as yet. Calm down... wait and see... play it as it comes.
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Practice the art of quiet observation. I've learned more (and continue to learn) from watching the market trade than from any number of books that I've read.
The Most Interesting Women In The World ?
in General Discussion
Posted · Edited by jpennybags
Maybe Dos Equis will come up with a new add campaign: "The most interesting woman in the world".
I would bet that she has a few wrinkles...and:
If I were in charge of the campaign, the first person I would go for would be (though she has no wrinkles... yet): Magali Amadei.... a woman entering her forties.