Likewise, I read and learn a lot from your posts liquidcci - I think I both agree and disagree. In a direct, cause/effect-type of analysis, the market is not "out to get you". However, I think it is wrong for traders to consider themselves as "playing a different game" - it is wrong to trade 1 car as if things would be different if you were trading 200 cars (accepting the limits of liquidity). This is a great error that I have made and that I would caution others not to make. If a trader takes $200 out of the market trading 1 car in the ES, their thinking, strategy, emotions, etc need be no different than another trader who places the same trades and takes $50,000 out of the market. It is when one thinks there is something different that one begins to trivialize the difficulty of consistently making money in the markets.
Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
The following user says Thank You to Surly for this post:
TMFT, if for some reason you keep getting your stops hit, you can make a living writing biting prose for all the trade rags out there.......or hit the stage at the traders expo and give all the algo people something to laugh about!!!! I for one would pay top dollar to see you perform live!
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
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The use of humor, irony, exaggeration, or ridicule in exposing, denouncing, or deriding human folly, etc.
1. The quality that makes something laughable or amusing; funniness: could not see the humor of the situation.
2. That which is intended to induce laughter or amusement: a writer skilled at crafting humor.
3. The ability to perceive, enjoy, or express what is amusing, comical, incongruous, or absurd.
The Point .... You missed it....
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I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
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lol Thatman sorry I am a little slow. Your original post is great now that I see the satire.
"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
Last edited by liquidcci; March 8th, 2012 at 02:42 PM.
The following 2 users say Thank You to liquidcci for this post:
The institutions may not care about 1 single retail trader trading from his mom's basement in his underwear, trading 1 lots.
But when thousands of retail traders all behave similarly, that adds up to thousands of contracts sitting at similar levels --- and absolutely the big guys know that, and they play that too their favor.
Take away: Don't place stops at obvious levels.
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Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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The following user says Thank You to Big Mike for this post:
I am more worried about the mental institutions....oh the voices are driving me nuts!
You guys in Txs call it.....mucho loco?
swing high/low are my stop areas...O well,seems to be safe for the most part on the 10 ranger.
Oh let the sun beat down upon my face, stars to fill my dream
I am a traveler of both time and space, to be where I have been
To sit with elders of the gentle race, this world has seldom seen
They talk of days for which they sit and wait and all will be revealed
Last edited by Sunil P; March 8th, 2012 at 07:53 PM.
Futures & options are both zero-sum games. Who do you think you are buying from or selling a contract to?
A futures contract does not exist until a buyer and a seller agree on a price, thus they are each others opposites. You have the clearing firm stepping in as a counterpart for security purposes, but the loss/gains (excluding extreme cases) are transferred from your account to his/hers and vice versa.
The other trader might be hedged/spread trading, but on that particular trade he must lose money for you to win.
Many different algorithms exist, and many are just using latency to capture the spread. But there also more disruptive algorithms specifically trying to pull in suckers and run stops. Some of my trading is specifically modeled for capturing moves when algorithms flock (unless I am trading against the Flash himself).