Random Line Theory - Traders Hideout | futures io social day trading
futures io futures trading


Random Line Theory
Updated: Views / Replies:68,814 / 358
Created: by Big Mike Attachments:100

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 100  
 
Thread Tools Search this Thread
 

Random Line Theory

  #91 (permalink)
 Vendor: www.edevaay.com 
Al,India
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: RKG
Favorite Futures: NiftyFuture
 
devdas's Avatar
 
Posts: 1,547 since Feb 2010
Thanks: 1,460 given, 1,661 received

emmm...6203 Random lvl had already got "significance" from yesterday ( 3-Jan ) so not truely random expectation from that


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



here are Random lvls for 5-Jan,



Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).



Harvest The Moon
Nest The Market
Reply With Quote
The following user says Thank You to devdas for this post:
 
  #92 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
Thanks: 3,041 given, 4,496 received

Pivotfarm uses zones of 1 point large to identify their key levels maybe you might like to define random zones instead of random lines to make your point even more convincing.

I have uploaded their TF chart for today at the bottom.

Here the CL chart from Pivotfarm:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Attached Thumbnails
Random Line Theory-pfzones.jpg  

Last edited by trendisyourfriend; January 4th, 2011 at 04:52 PM.
Reply With Quote
 
  #93 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received


Here are the results of the random lines picked yesterday. This is today's cash session.

I want to emphasize the lines are not being posted so you can trade them. The lines are random. Why would you want to trade them. The lines are being posted to challenge your beliefs about other lines that you DO trade, and the properties you assign those.

Mike

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.

Attached Thumbnails
Random Line Theory-1-4-2011-2-21-13-pm.png  
Reply With Quote
The following 2 users say Thank You to Big Mike for this post:
 
  #94 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received

Here are the lines for TOMORROW. 87.87, 88.38, 89.40, 89.92, 90.38. They were calculated at random.org by entering a minimum of 8750 and maximum of 9150, which is roughly 200 ticks above/below the closing price today.

Mike

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.

Attached Thumbnails
Random Line Theory-1-4-2011-2-38-33-pm.png  
Reply With Quote
 
  #95 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: Master
Platform: Kinetick Ninja Trader <7>
Broker/Data: Ninja & IB
Favorite Futures: YM & Equities & Options & Mutual Funds
 
Posts: 174 since Jun 2010
Thanks: 56 given, 82 received

Three comments on this thread.

First is that Richard Regan who is on CNBC and BLOOMBERG and runs that prop trading operation, has been shouting that pivot, and fibs and other mystic lines on a chart a BS.

Second, lines like Pivots and Fibs are usually good for a scalp because so many people are watching those levels and trading them (self fullfuling indicator in essance.)

And thrid, one might argue that since you know the CL so well, you might be subconscioulsy picking levels that have had significance for you in past trades, that you're not consciously aware of...

Reply With Quote
 
  #96 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received


mainstream View Post
And thrid, one might argue that since you know the CL so well, you might be subconscioulsy picking levels that have had significance for you in past trades, that you're not consciously aware of...

That is why for every day except day 1, I used a website random.org to pick the numbers.

Mike

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.

Reply With Quote
 
  #97 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,697 since Oct 2009
Thanks: 3,041 given, 4,496 received


mainstream View Post
Three comments on this thread.

First is that Richard Regan who is on CNBC and BLOOMBERG and runs that prop trading operation, has been shouting that pivot, and fibs and other mystic lines on a chart a BS.

Second, lines like Pivots and Fibs are usually good for a scalp because so many people are watching those levels and trading them (self fullfuling indicator in essance.)

And thrid, one might argue that since you know the CL so well, you might be subconscioulsy picking levels that have had significance for you in past trades, that you're not consciously aware of...

I am sure, at the end, Big Mike will realise that what counts is volume to gauge the usefulness of a level. All else is pure conjecture, guesstimate or even better a shot in the dark.

Reply With Quote
 
  #98 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received


trendisyourfriend View Post
I am sure, at the end, Big Mike will realise that what counts is volume to gauge the usefulness of a level. All else is pure conjecture, guesstimate or even better a shot in the dark.

I don't think I'm going to make that realization any time soon.

Price moves whether there is a little volume or a lot, and my stops and targets are based on price. My entire methodology is built around price. No doubt, there are many successful traders that have methodologies built around volume. There are other threads that are well suited for a discussion of volume, but this thread is not one of them.

Scenario 1:
Price comes down to a line and then "bounces off" that line.

We call that line support.

That line maybe was created by an indicator. Perhaps a pivot. Perhaps a fibonacci retracement. Perhaps an extension. A trend line. All kinds of things.

Now, Scenario 2:
Price comes down to a line and then "bounces off" that line.

We call that line support.

This time, the line was created by a random number generator. Our mind automatically says hmm, that line really has no weight -- no significance. Yet, here I am "seeing" (visualizing) the same type of behavior that my other indicators give me.

In reality, if you continue searching you'll find a dozen reasons for why price may have done what it did that have absolutely nothing to do with the random number (clearly), or anything to do with the fib retracement, pivot, MACD, CCI, whatever. Look long enough and you'll find something.

To me, I am just opening my mind up to accept the possibility that these other tools are not as important as I once thought they were.

Mike

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.

Reply With Quote
The following 11 users say Thank You to Big Mike for this post:
 
  #99 (permalink)
Elite Member
Rochester Hills, Michigan
 
Futures Experience: Advanced
Platform: Tradestation
Favorite Futures: Currency Futures
 
Posts: 200 since Jul 2010
Thanks: 856 given, 142 received

Pivotfarm

Trendisyourfriend....how do you come up with those zones on pivotfarm? Which ones are you using for the cl?

Incometrade
Reply With Quote
 
  #100 (permalink)
Elite Member
Toronto, Ontario
 
Futures Experience: Advanced
Platform: NinjaTrader, Multicharts
Broker/Data: IB, IQfeed
Favorite Futures: ES, CL
 
Snoop's Avatar
 
Posts: 203 since Oct 2009
Thanks: 135 given, 161 received


This thread should have ended last year
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote

Reply



futures io > > > Random Line Theory

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
How advanced mathematics and gaming theory can help you as a trader RM99 Psychology and Money Management 203 February 5th, 2016 03:10 AM
Using Dow Theory indicator as a filter in automated strategies nanobiotech NinjaTrader Programming 8 March 28th, 2015 07:56 PM
Economic Theory PandaWarrior Off-Topic 10 May 15th, 2011 12:06 PM
Ryans Chewing Gum theory Ryanb Psychology and Money Management 2 December 8th, 2010 10:25 AM
GAME THEORY tigertrader Off-Topic 3 October 7th, 2010 09:16 PM


All times are GMT -4. The time now is 05:56 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.16 seconds with 20 queries on phoenix via your IP 54.160.245.121