I am a retired commodity broker, registered series 3 in 1975. I started with Dean Witter and ended as a CTA. I retired due to health problems in 2007. looking forward to get back on track. Thanks, Vizor
The following user says Thank You to vizor for this post:
I'm looking forward to participating and gaining knowledge and insight into trading futures contracts (zb,zn,cl) through this forum. In my research I've consistently come across excellent comments from this forum and figured it would be a great place to ask questions and look for advice. I look forward to being able to offer answers and comments to other traders as I gain experience. I've set up a corporate account at Interactive Brokers and am now looking to continue the process by finding the best data feed and trading platform to use for a volume based (tape reading) trading strategy.I understand the data feeds through IB are not the best so am looking for some advice on what may be the optimal feed for trading the ZB to start. I am in BC Canada so my options are limited.Thanks in advance for your comments/suggestions! Cheers
The following user says Thank You to Vantrader66 for this post:
I've got here following Peter Davies videos. I've never really traded seriously but I have been reading and following the topic for years, then everything started to make sense following Peter Davies teaching. Soon going to start my first account to learn to read the ES for a few months, then I will decide if to become very serious. I hope I'll have things to share in the meantime.
I am Italian, work in Design and live in London.
Thanks for the CumulativeDelta and PriceActionSwing indicators!
The following user says Thank You to sylvestersergio for this post:
13 years trading, some very good years and some very bad. I mostly just like to learn. I have studied technical analysis extensively and found success when I stopped to study me. That journey continues and is probably what I love most about trading. My study of myself improves my trading which in turn drives me to study myself more. That's really what it's all about. I do best when I don't even look at the numbers but just follow my process.
Looking forward to a positive experience.
Anyone want to take a shot at where I got, "Turkey", from?
The following user says Thank You to Turkey for this post:
Thanks Big Mike, for starting this forum,
I look forward to exploring and learning. I have been a life long musician, symphony and other.
Came across futures in the early eighties, but trading from home was cumbersome and expensive back then.
And being in PDT, the hours did not compliment my night work as a musician.
I was briefly a futures broker/salesman but the sales part did not appeal to me, I just wanted to watch the markets.
I went back 100 percent into music for over 35 years.
Now trading has again reared its head in my life. I bought a system and training and own a lifetime licence of a well known trading platform. Have been in Sim for 4 months.
After experimenting, breaking as many rules as possible, and fooling around alot just to get the bad stuff out of my system while still in Sim, I'm just now starting to become more consistent and my averages are bending nicely positive. Near term goal is to be consistently profitable in Sim for a couple more months or maybe just weeks before live trading. I'm so grateful for Sim trading!! I could have blown it by now and been knocked out for life at my age!
The following user says Thank You to aeolian for this post:
Thanks for playing but nope! It comes from Reminiscences of a Stock Operator.
Listening to the (repeated daily) advice of an old stager in the offices of Fullerton, it suddenly dawned on him why he was making less profit than he should. Whatever question the old fellow – known to everyone as Turkey although his real name was Partridge – was asked about the market, he would reply, “well, it’s a bull market.”
At first Livermore thought this was a mere platitude. Hearing “It’s a Bull Market” daily, he began thinking about it more. Then, listening to a conversation between Turkey and Elmer Harwood – a young trader – he realized that it was more than a platitude – it was the missing piece in his own education.
Elmer: “Mr. Partridge, I have just sold my Climax Motors. My people say the market is entitled to a reaction and that I’ll be able to buy it back cheaper. So you’d better do likewise. That is, if you’ve still got yours.”
Turkey: “Yes, Mr. Harwood, I still have it. Of course!”
Elmer: “Well, now is the time to take your profit and get in again on the next dip,” said Elmer, “I have just sold every share I owned!”
Turkey: “No! No! I can’t do that!”
Elmer: “Didn’t I give you the tip to buy it?”
Turkey: “You did, Mr. Harwood, and I am very grateful to you.
Elmer: And didn’t that stock go up seven points in ten days? Didn’t it?”
Turkey: “It did, and I am much obliged to you, my dear boy. But I couldn’t think of selling that stock.”
Elmer: “Why not?”
Turkey: “Why, this is a bull market!” (The old fellow said it as though he had given a detailed explanation.)
Elmer: “I know this is a bull market as well as you do. But you’d better slip them that stock of yours and buy it back on the reaction. You might as well reduce the cost to yourself.”
Turkey: “My dear boy, if I sold that stock now I’d lose my position; and then where would I be? And when you are as old as I am and you’ve been through as many booms and panics as I have, you’ll know that to lose your position is something nobody can afford; not even John D. Rockefeller. I hope the stock reacts and that you will be able to repurchase your line at a substantial concession, sir. But I myself can only trade in accordance with the experience of many years. I paid a high price for it and I don’t feel like throwing away a second tuition fee. But I am as much obliged to you as if I had the money in the bank. It’s a bull market, you know.”
Jesse Livermore realized that Turkey’s consistent message was that the big money was to be made not in trying to trade small moves on the tape but to catch the major trend.
“Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study general conditions and not tips or special factors affecting individual stocks. Then get out of all your stocks; get out for keeps! You have to use your brains and your vision to do this; otherwise my advice would be as idiotic as to tell you to buy cheap and sell dear. One of the most helpful things that anybody can learn is to give up trying to catch the last eighth-or the first. These two are the most expensive eighths in the world.”
With this step in place, Jesse Livermore’s trading philosophy was complete.
The following user says Thank You to Turkey for this post: