Qualifying Prices with time!
I thought this was an interesting chart from last Thursday. You can see how they tried to break down from the hour lows quite a few times only to have a bit of a rally at the end of the day ( not shown on this chart)
This is a one minute chart and it shows how there where only four COMPLETE one minute bars that actually traded below the hour lows. The rest of them traded through the hour low price. So only 4 bars had highs and lows below the hour low. Not much time spent below that key price. I present this as it may help some qualify there support and resistance zones by using TIME. We can ask the question:
Is more time spent above our support zone as it gets tested? If the answer is yes then long may be the way to go. just an idea...
This is a one minute chart and it shows how there where only four COMPLETE one minute bars that actually traded below the hour lows. The rest of them traded through the hour low price. So only 4 bars had highs and lows below the hour low. Not much time spent below that key price. I present this as it may help some qualify there support and resistance zones by using TIME. We can ask the question:
Is more time spent above our support zone as it gets tested? If the answer is yes then long may be the way to go. just an idea...
Click image for original size
quote:
Originally posted by pips2007
...Got to go. Refill on the Johnnie scotch...
I wasn't going to ask but now that you mentioned it, do you only post after you've had a few?
no daytrading.
Actually I was on my second drink on the refill. Try the Blue label..good stuff...60 years old...the scotch that is.
Nonetheless, check out what I mentioned...very hard to refute. Its all there...check out what the mkt did and the result..much more than 2 pts and day.....
However, I'm never here in the morning, posting or educating..I busy making money for myself.
Sorry no time to educate the uniniated or the ones that don't want to be educated by a STREET SMART way. What's the addage..you can take a horse to the pond, but you can't make him drink any water....hmmm..oops most of your members.
On to my third scotch....
hmm...is that a real poncho....no fooling...you really bought that course and now you the REAL Wazoo...oh You the beautiful guy. Making any money honey??
Good night where every you are.
Actually I was on my second drink on the refill. Try the Blue label..good stuff...60 years old...the scotch that is.
Nonetheless, check out what I mentioned...very hard to refute. Its all there...check out what the mkt did and the result..much more than 2 pts and day.....
However, I'm never here in the morning, posting or educating..I busy making money for myself.
Sorry no time to educate the uniniated or the ones that don't want to be educated by a STREET SMART way. What's the addage..you can take a horse to the pond, but you can't make him drink any water....hmmm..oops most of your members.
On to my third scotch....
hmm...is that a real poncho....no fooling...you really bought that course and now you the REAL Wazoo...oh You the beautiful guy. Making any money honey??
Good night where every you are.
pips, take a look at it from the other side. If I met you in Vegas and told you that I consistently won thousands at roulette every evening would you believe me?
quote:
Originally posted by day trading
pips, take a look at it from the other side. If I met you in Vegas and told you that I consistently won thousands at roulette every evening would you believe me?
Strangely, I DO believe him. I think it's all in the mind and I think Pips2007 has the mind to handle it. Congrats Pips.
daytrding..I like you
If you met me and told me you win every evening at the roulette table, I have no reason not to believe or believe you. You know the truth and I don't care. I come to the roulette table to do my thing.
But, If you told me you had a course to sell or some angle that works and its only 2 grand or 5 grand or 25 k lifetime membership then I would raise an eyebrow. Why would you be selling me something so powerful..that could make you lots and lots of money.....Does Warren Buffet give seminars on how he makes his decision prior to buying a company or stock...or Templeton, Simon, Lynch, well you get the painting.
What I've been doing for quite a while is if Buffet buys something..I go get leaps on it...if I win I win big..if not who cares...insurance money. But the odds and winning are in MY FAVOUR ( PROBABILITY SKEWED..I think I talked about this somewhere) and the outlay is cheap..a couple hundred bucks...this a few scotch bottles.
Now they come up with a study by some PHd's stating you could have beatin all money manager and s&p500 if all you did is just buy what he did..even 4-6 months later..and wait as you emulating HIM. You got the same percetage return through all these years...imagine that. How hard is that. But most people to confused listening to so many gurus and xperts they don't know WHAT TO DO...NOW HOW IS THAT FOR SIMPLE. You getting an education for FREE....maybe I should charge lets say.......8 grand..ok $6 k.
Notice I'm not selling anything and I would not want to part with what I know to anyone for any money. As mentioned I looking to trade for Hedge Fund, Pension Fund, Sovereign fund etc...search already on the way...Easier using OPM and make millions.
All I'm was/am doing is telling people to step back if you do not like your daytrading results and see what you doing/who u been listening to and where you at. Is there a better way..sure is...then sit back and try to figure it out. Tip simple is always the way.
Today Jan 25- I'm done for the day, got my 6/10 and yes 20 pts...what did the mkt do??? Could ANYBODY HAVE RUN 1 CONTRACT AND GOT 6 PTS!!! But most traders can't fathom it..too confused with MA's, RSI, divergence 1 min chart and support and resistance AND NO PATIENCE. I never figured out how this S/R worked...probably a scam the big boys want to let everybody know..so they can rob your money.
NObody has to emulate my style...if you got a style that gets u 2 pts a day everday..STICK WITH IT, you got something that works don't look anywhere else and don't do what I do. I can't scalp or trade with indicators...so I don't. 10 pts a week is terrific...I had - 10 pts a week for a long time...and who was I emulating...and listening too.
I just let the mkt run..like a kid at the playground just have fun and run around the place. Since I been doing this, I call it "Unchained method..VH style" Can you hear the money..I mean ground running ( ok..maybe messed up on the lyrics).
As I stated in my post yesterday....see how the 50% retracement rule works..simple easy..do options but you need patience my friend. Works on any mkt, commodity....but it not sexy. 1-2-3 works on longer term charts..has for me.
Do I read the market wrong when I day trade..very very rarely..have I yes..but instead of making a right turn, I make a left turn and make my money. See how simple was that.
Ok I tip...prior to the market open look at price and see the time.
Its like 11 Pm you got to brush your teeth and go to sleep..you don't go running in the park then do you. Or is 6:30 am and you got to get up and do some exercise or have your coffee..YOU don't go to sleep till 12 pm do you.....The MARKET IS NO DIFFERNT...Now go from here and see if you can come up with some inferences. YOU NEVER THOUGTH THIS WAY DID YOU!!! Cuz you looking at circles, and 1.48 fibs and donuts, MAC P, MA bollocks and on and on.
I put on Samba Pati, followed by Europa by Santana to get me in the mood. Then I finish off with Savoire Faire by Chic. and I'm ready....to play at the playground.
I mentioned somewhere that the best trader I had the fortune of taking calls albeit very breifly was a guy with the nick "Trader God" and a few here poked fun at me and him. Well, I only had his calls for a 2-3 weeks...asked him to teach me his way...he said NO WAY..but he made 2,500% in a 9 months starting with $10,000...1 or 2 trades a day. He went on to probably trade for a hedge fund. It took me over 6 for months from when he closed shop to figure out what he was doing....running around at the playground.
Paulson, I believe it is a hedge fund...made 590% return last year...but your mind only can think 10%. Will they do it next year..who cares..they did it this year...but next year they may only get 40%. If I got 590% in a hedge fund..close shop and take my $500 mil and teach on paltalk...seriously???
I believe in daytrading you must specialize in 1 mkt or 2 max. In options..its all charts and formations...but I specialize in commodity options. Stocks I run leaps a la Buffet and 50% retracement rule when I hear a stock is reached a high in the newspaper...like Apple in Dec...I missed that...check it out...Apple close to 50% retracement rule...go down faster than up...but there are always opp's. The more a stock is touted in the newspaper..prob the smart money is building a position on the other side of the headlines. They call that getting screwed or screwing the retail trader.
ps: most imp is the paragraph for daytrading is about time above read it...if you want read it again see if you can glean a carat of information. Thinking is not Illegal YET.
And "Nothing is GOOD or BAD...ONLY THE MIND MAKES IT SO."
Now let me go and JUMP
If you met me and told me you win every evening at the roulette table, I have no reason not to believe or believe you. You know the truth and I don't care. I come to the roulette table to do my thing.
But, If you told me you had a course to sell or some angle that works and its only 2 grand or 5 grand or 25 k lifetime membership then I would raise an eyebrow. Why would you be selling me something so powerful..that could make you lots and lots of money.....Does Warren Buffet give seminars on how he makes his decision prior to buying a company or stock...or Templeton, Simon, Lynch, well you get the painting.
What I've been doing for quite a while is if Buffet buys something..I go get leaps on it...if I win I win big..if not who cares...insurance money. But the odds and winning are in MY FAVOUR ( PROBABILITY SKEWED..I think I talked about this somewhere) and the outlay is cheap..a couple hundred bucks...this a few scotch bottles.
Now they come up with a study by some PHd's stating you could have beatin all money manager and s&p500 if all you did is just buy what he did..even 4-6 months later..and wait as you emulating HIM. You got the same percetage return through all these years...imagine that. How hard is that. But most people to confused listening to so many gurus and xperts they don't know WHAT TO DO...NOW HOW IS THAT FOR SIMPLE. You getting an education for FREE....maybe I should charge lets say.......8 grand..ok $6 k.
Notice I'm not selling anything and I would not want to part with what I know to anyone for any money. As mentioned I looking to trade for Hedge Fund, Pension Fund, Sovereign fund etc...search already on the way...Easier using OPM and make millions.
All I'm was/am doing is telling people to step back if you do not like your daytrading results and see what you doing/who u been listening to and where you at. Is there a better way..sure is...then sit back and try to figure it out. Tip simple is always the way.
Today Jan 25- I'm done for the day, got my 6/10 and yes 20 pts...what did the mkt do??? Could ANYBODY HAVE RUN 1 CONTRACT AND GOT 6 PTS!!! But most traders can't fathom it..too confused with MA's, RSI, divergence 1 min chart and support and resistance AND NO PATIENCE. I never figured out how this S/R worked...probably a scam the big boys want to let everybody know..so they can rob your money.
NObody has to emulate my style...if you got a style that gets u 2 pts a day everday..STICK WITH IT, you got something that works don't look anywhere else and don't do what I do. I can't scalp or trade with indicators...so I don't. 10 pts a week is terrific...I had - 10 pts a week for a long time...and who was I emulating...and listening too.
I just let the mkt run..like a kid at the playground just have fun and run around the place. Since I been doing this, I call it "Unchained method..VH style" Can you hear the money..I mean ground running ( ok..maybe messed up on the lyrics).
As I stated in my post yesterday....see how the 50% retracement rule works..simple easy..do options but you need patience my friend. Works on any mkt, commodity....but it not sexy. 1-2-3 works on longer term charts..has for me.
Do I read the market wrong when I day trade..very very rarely..have I yes..but instead of making a right turn, I make a left turn and make my money. See how simple was that.
Ok I tip...prior to the market open look at price and see the time.
Its like 11 Pm you got to brush your teeth and go to sleep..you don't go running in the park then do you. Or is 6:30 am and you got to get up and do some exercise or have your coffee..YOU don't go to sleep till 12 pm do you.....The MARKET IS NO DIFFERNT...Now go from here and see if you can come up with some inferences. YOU NEVER THOUGTH THIS WAY DID YOU!!! Cuz you looking at circles, and 1.48 fibs and donuts, MAC P, MA bollocks and on and on.
I put on Samba Pati, followed by Europa by Santana to get me in the mood. Then I finish off with Savoire Faire by Chic. and I'm ready....to play at the playground.
I mentioned somewhere that the best trader I had the fortune of taking calls albeit very breifly was a guy with the nick "Trader God" and a few here poked fun at me and him. Well, I only had his calls for a 2-3 weeks...asked him to teach me his way...he said NO WAY..but he made 2,500% in a 9 months starting with $10,000...1 or 2 trades a day. He went on to probably trade for a hedge fund. It took me over 6 for months from when he closed shop to figure out what he was doing....running around at the playground.
Paulson, I believe it is a hedge fund...made 590% return last year...but your mind only can think 10%. Will they do it next year..who cares..they did it this year...but next year they may only get 40%. If I got 590% in a hedge fund..close shop and take my $500 mil and teach on paltalk...seriously???
I believe in daytrading you must specialize in 1 mkt or 2 max. In options..its all charts and formations...but I specialize in commodity options. Stocks I run leaps a la Buffet and 50% retracement rule when I hear a stock is reached a high in the newspaper...like Apple in Dec...I missed that...check it out...Apple close to 50% retracement rule...go down faster than up...but there are always opp's. The more a stock is touted in the newspaper..prob the smart money is building a position on the other side of the headlines. They call that getting screwed or screwing the retail trader.
ps: most imp is the paragraph for daytrading is about time above read it...if you want read it again see if you can glean a carat of information. Thinking is not Illegal YET.
And "Nothing is GOOD or BAD...ONLY THE MIND MAKES IT SO."
Now let me go and JUMP
Hello Pips,
please allow me to pose my question again...have you ever looked into the works of Gann or Bayer, and if yes, have you found any value in it ?
Thank you in advance.
Martin
please allow me to pose my question again...have you ever looked into the works of Gann or Bayer, and if yes, have you found any value in it ?
Thank you in advance.
Martin
Heard of Gann...maybe he was good don't know..Apparently he was. Don't have any of his stuff.
Bayer no.
To sum it up...my style does not have anything to do with them. Only thing from Gann is I use the 50% rule to trade commodity options. Why..thats where bulls and bears meet..and they always get there.
Good luck.
Bayer no.
To sum it up...my style does not have anything to do with them. Only thing from Gann is I use the 50% rule to trade commodity options. Why..thats where bulls and bears meet..and they always get there.
Good luck.
Thanks pips...Gann was the first thing to come to my mind when reading your remark on "price and time", so I just had to ask ;-).
pips, what I meant with that question was if A person (not particularly me) was chatting to you and told you something that was highly unlikely you probably wouldn't believe them without proof.
In fact, something interesting like this happened to my father-in-law yesterday evening. He was out walking and met an old fellow on a motorized bicycle and started chatting to him. The guy told him some fairly tall stories including one about how his son in the US Military while in Afghanistan captured Osama Bin Laden and was ordered to let him go.
Now sure, there's an incredibly small possibility that this is true but nobody's going to believe this without proof.
Likewise if someone claims to be winning $100,000 at roulette every evening you're not going to believe them until you see them do it because the odds, as everyone knows, are against you. Sure you can have a streak of a few days where that happens but ultimately you will end up losing money.
So when you tell us about the percentage gains that you make in the market they are certainly possible but not the sort of thing that a normal person would believe until they see it happening. It's nothing against you and I'm not saying that you don't achieve those results because they are theoretically possible. It's just human nature not to believe those types of returns until you've seen them because you've never seen anything like it before.
It's a bit like the Black Swan theory. Black Swans don't exist because they've never been seen before. Only when the first black swan was discovered and people saw it did they believe it.
Am I making sense?
In fact, something interesting like this happened to my father-in-law yesterday evening. He was out walking and met an old fellow on a motorized bicycle and started chatting to him. The guy told him some fairly tall stories including one about how his son in the US Military while in Afghanistan captured Osama Bin Laden and was ordered to let him go.
Now sure, there's an incredibly small possibility that this is true but nobody's going to believe this without proof.
Likewise if someone claims to be winning $100,000 at roulette every evening you're not going to believe them until you see them do it because the odds, as everyone knows, are against you. Sure you can have a streak of a few days where that happens but ultimately you will end up losing money.
So when you tell us about the percentage gains that you make in the market they are certainly possible but not the sort of thing that a normal person would believe until they see it happening. It's nothing against you and I'm not saying that you don't achieve those results because they are theoretically possible. It's just human nature not to believe those types of returns until you've seen them because you've never seen anything like it before.
It's a bit like the Black Swan theory. Black Swans don't exist because they've never been seen before. Only when the first black swan was discovered and people saw it did they believe it.
Am I making sense?
quote:
Originally posted by day trading
pips, take a look at it from the other side. If I met you in Vegas and told you that I consistently won thousands at roulette every evening would you believe me?
I would believe it if I saw you do it; and I would marvel at your good luck, because the probabilities are against you on every spin of the wheel. Otherwise, I'd say you were a liar, or dreamer, or alcoholic psychotic; Vegas is full of all three and there are a few of those types in this forum also.
Excellent analogy daytrading to pips superhuman performance. Now if we could only have something to back up those claims instead of an esoteric and incoherent rant.
Jim - fair enough, thanks for your reply.
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