zzzz, wicked basement in that video. Too much crap going on though. Let's be honest here: what good are all those numbers rolling across and flashing on the matrix board above the computers except to feed the guy's ego? He referred to it as a casino, and it sure looks and sounds that way (especially with T4's sound you keep hearing, makes it sound like a slot machine keeps going off). Maybe it just is cut to make it look this way, as it is for TV and all. But do two or three guys, each with one set of eyes, and the limited human ability to truly multitask, much less focus on so many markets, need so much crap? Don't get me wrong, I think it's way cool, but does it really add to the guy's bottom line? One of the most basic rules in business (not video games, as he says it feels like sometimes) is minimizing costs. He jokingly said he was still paying for the basement setup he has, but maybe it wasn't a joke--I would wager that something like that would cost quite a lot (maybe $20K at least?). And monthly maintenance is no doubt quite high too.
The following 2 users say Thank You to josh for this post:
Perhaps I was wrong to use the word "inspiration", I couldn't find the right word to describe the amusing video! The guy taking medication for the high blood pressure is the tell, I think, and I guess most of us wouldn't let the TV cameras into our homes for any money.
I am quite conflicted actually between my own ego (which is why I probably got into this business a long time ago) and the reality of what works on a day to day basis...looking at trading movies like this one kinda keeps the "ego" side of me content so I can carry on with the routine stuff in my work.
Rather like have a tiny account for "fun/gambling" trades so you're not tempted to gamble/break rules in the main trading account..something I have heard other traders do to keep the emotions/ego at bay.
Did you check out the ocean view at 7:00 in the previous video?...that is my dream setup, I wonder where that is...
The following user says Thank You to Mr Fractal for this post:
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
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.
If you want to support our community, become an Elite Member.
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Favorite Futures: EMD, 6J, ZB
Posts: 798 since Oct 2009
Thanks: 216 given,
this video was part of a larger presentation, evidently by some BBS (public broadcast studo)
does anyone know either the full title or know the full presentation?
one thing I found as a self justification of his investment, is he feels he needs to be on the other side of a trade at 1am in the morning, else he hate to think what would happen, if no one was there to take the other side...
either way, isn't it surprising he has no charts, no indicators, and keeps mental tab of price action and market sentiment?
what name or nomenclature is this approach called?, if anyone knows
The following user says Thank You to kronie for this post:
Why is it surprising? I'd call it simply "trading"... seems to be the way floor traders did/do it. Either way, it matters not how he does it; perhaps he has not made money a single year so far. What matters is what's effective for a trader personally, and maybe for some that's indicators all over the place. Minimal is only better if it helps the bottom line, just as more indies/info is only worth having if it helps the bottom line.
Don't want to get too off-topic here, but I use DOM and T&S extensively, but I still find value in very short-term charts, just in how they are forming. Completely different from looking at a chart from yesterday -- but to watch the shape of the market as it's forming, it gives an edge that DOM/tape alone can't. Then again, I could not trade with DOM/tape either, so I find value in all of these tools.