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Started:January 30th, 2011 (12:29 PM) by aquarian1 Views / Replies:40,172 / 682
Last Reply:November 25th, 2016 (11:28 AM) Attachments:357

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Trading

Old August 21st, 2016, 07:18 PM   #631 (permalink)
Trading Apprentice
Princeton New Jersey
 
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aquarian1 View Post
Trading visualization

I see myself entering the trade relaxed and confident. I enter the limit order and the stops. My estimated price is 2181.50 and the time is 9:03 The price rises from 2176 and then hesitates at 2179. It seems to not have enough energy to get to my price and looks as if it might fail and is now 2177.50. Then just as I am thinking it might not get my order it starts to turn back up, 9:01 2179, 9:02 2180 9:03 it hits 2181.50 to the tick!

As if a miracle it touches 2181.75 and I get my fill. The spinning on a dime it falls, falls, and falls. It is crashing! My profits are soaring! $500, $700, $1000, $2,500 $25,000!! I pull the trigger and close the trade. Perfect!

I was filled at the HOD and I have closed at the LOD.
I walk down the street humming a tune. I am on my way!


The profits and contracts mount day by day.

I get a call from the brokerage house.
"you are over $10 million, sir. As a preferred customer we can give you a special rate and access to dark pool trading."
-- "I'll think about it",
I laugh and set up a wire transfer of $1M to my bank account.

"Book me a first class tour of Europe." I say to my travel agent.
'Cost?'
"Just book the best! and courier me the brochures!"
I hang up the phone let a a holler, laugh and jump for joy!

I like it. I tried a simple visualization of just opening up my account and seeing a certain number and that didn't work. I am thinking that for me it needs to be something like what you have written but haven't come up with my exact visualization yet. I think it is so personal because I need to be able to be truly in it. It has to become a part of who I am. Intention meeting belief. I haven't settled on anything yet. I think it has something to do with staying in the now for me. Maybe Eckhardt Tolle has my answer. I trade brilliantly when I stay in the now. I will let you know when it all comes together. You just can't rush these things.

I did write myself a check with a future date on it and put a picture of my dream beach house under my mattress. That type of thing actually has worked for me in other areas of my life. Thanks for the ideas!!!

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Old August 22nd, 2016, 12:12 PM   #632 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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dicussing the trading profession with someone outside

Last night I was discussing, or more accurately replying to questions about trading.
However the hidden implication was
"why would you do something so foolish?"

Today I broke many of my trading rules.
(perhaps trying to force things when I should have stood aside?)

My conclusion was to not discuss trading with people outside the business.
They don't understand, and even more don't want to try and understand.

The "profession" is so different that those with a defined path, doctor, lawyer, baker, candlestick maker that it will be a negative to you.

It's a bit like striving for a gold medal in an Olympic sport that is intangible (they can't actually see the competition, or competitors who are non-physical).

My new rule is to reply with:
"Sorry it difficult to explain and I have found people don't understand it and the process of trying to explain it hurts my performance. Let's discuss something else."

Good trading to everyone.

Last edited by aquarian1; August 22nd, 2016 at 12:42 PM.
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Old August 23rd, 2016, 09:14 AM   #633 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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truth - napolean hill thought of the day


You are either honest or dishonest. There can be no compromise between the two.

Officials who deal with fraud and theft say they are often amazed at the small amounts of money some people will steal. Some people will sell their integrity for a pittance. To those individuals, dishonest behavior is not an occasional occurrence — it is a way of life. Those who lie about insignificant things or steal trivial amounts of money will develop the habit of lying and stealing.

...
think about the times when you chose dishonest behavior. Why did you do it? Was it worth it?
...
Learn from your mistakes and vow that from this day forward you will always be honest.

Good trading to everyone.
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Old August 23rd, 2016, 10:39 AM   #634 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
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Posts: 2,197 since Dec 2010
Thanks: 696 given, 967 received

Just yesterday we posted a letter written by Jeffrey Miller (here) where he eviscerated Central Banks for the lunacy of their policies which have created complete complacency in the markets. The problem, as we pointed out, is that the Fed has lost all credibility by repeatedly caving every time they hint at a rate increase and markets sell off the tiniest bit. This "Yellen Put" is what enables desperate pension funds to pursue extremely risky strategies like the decision by the Hawaii Employees' Retirement System to allocate $1.6BN for a "put-writing" strategy (see ""Selling Puts" - Latest Pension Strategy Is Truly 2006 All Over Again") or like the decisions we discuss frequently of pensions buying longer and longer dated bonds for no yield.

Right on cue, this morning the Wall Street Journal pointed out that "the past 30 days have been the least volatile of any 30-day period in more than two decades." In fact, they point out that only 5 days during the most recent stretch has the S&P 500 moved by more than 0.5%, which is the lowest since 1995.



The lack of volatility has left traders a bit uneasy but as Matt King, head of Credit Strategy Strategy at Citigroup points out, you can't fight the Fed:

“Everything feels distorted and unnatural; you know the source of that is the central banks but equally there’s nothing to stop them carrying on,” said Matt King, head of credit strategy at Citigroup.
"It's Scary Quiet": The Past Month Has Seen The Least Volatility Since 1995 | Zero Hedge

Good trading to everyone.
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Old August 23rd, 2016, 10:44 AM   #635 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Futures Edge on FIO

Are you a NinjaTrader user?

 
"Selling Puts" - Latest Pension Strategy Is Truly 2006 All Over Again
by Tyler Durden
Aug 22, 2016 9:00 PM

Back in the early-to-mid 2000's large pensions and insurance companies made a very large bet on a "sure thing". They sold trillions in notional value of credit default swaps (CDS) on mortgage backed securities. The bet was a "no brainer" as the insurance companies could collect a solid coupon payment for insuring risk on "investment grade" credits backed by U.S. housing, an asset class that had basically never declined in value. Well, as we all know, in the end, that bet didn't work out that well resulting in a government bailout of many financials, including AIG, which received over $180BN.

Well, turns out, some of the "smart money" in this country either didn't learn much from that event or doesn't remember it. As the Wall Street Journal pointed out over the weekend, pension funds in Hawaii and South Carolina have adopted a new strategy, in their thirst for yield, that involves selling puts. While the insanity of the domestic equity markets, which seem to indiscriminately soar to new highs every day, might convince some that, like housing circa 2006, equity values never actually decline, Nathan Faber of Newfound Research says:

“There comes a point where you might be picking up pennies in front of a steamroller.”


....

But there has to be some silver lining in this story, right? Like maybe they're just committing a small portion of overall assets to this risky strategy. Wrong. The Hawaii pension is dedicating over 10% of overall assets to put writing in an effort to "mitigate risk."

Risk mitigation was behind a decision by the Hawaii Employees’ Retirement System to invest $1.6 billion of its $15 billion portfolio in a put-writing strategy, which it expects to be fully invested by October. Based on how the options would have been priced last week, Hawaii could generate about $19 million a month in income if it wrote puts on the full amount and the options weren’t exercised, according to Neil Rue, a managing director at Pension Consulting Alliance, an independent firm that works with the pension fund.

Yes, because housing prices never decline and put options never actually get exercised, right?
"Selling Puts" - Latest Pension Strategy Is Truly 2006 All Over Again | Zero Hedge

Good trading to everyone.

Last edited by aquarian1; August 23rd, 2016 at 10:57 AM.
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Old August 23rd, 2016, 11:45 AM   #636 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
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Platform: IB and free NT
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Posts: 2,197 since Dec 2010
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Just what are they scared of?

We firmly believe the markets are preparing to enter another Crisis. With over 30% of global bonds posting negative yields, the financial system is a powder keg ready to blow.

The Bond Bubble is THE bubble. And with over $555 trillion in derivatives trading based on bond yields, this bubble is over 10 times the size of the one that nearly took down the system in 2008.

source:Central Banks Are Terrified... But of What? | Zero Hedge

Good trading to everyone.
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Old August 23rd, 2016, 05:41 PM   #637 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
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intersting

Yesterday I made try 1 for a visualization. In that the time of the peak was 9:03
see:https://futures.io/trading-journals/7984-trading-63.html#post590736
The time here is also 9:03
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Good trading to everyone.

Last edited by aquarian1; August 23rd, 2016 at 05:52 PM.
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Old August 24th, 2016, 09:19 AM   #638 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
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Posts: 2,197 since Dec 2010
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From Napolean Hill - thought of the day email

You cannot make all people like you, but you can rob them of a sound reason for disliking you.

Even the most popular people have their detractors. Because we are all different, with differing interests and personalities, it is simply impossible for anyone to be beloved by every individual who knows him or her.

....

if you are always kind and considerate in your dealings with others, ....

You can cement your relationships with others by making sure that you are a person of character, one who is predictably honest, straightforward, and ethical.

....
When you follow such a code of conduct, you may not be sought out by others who do not share your values, but you will be respected by all who know you.

{... = deletions}

Good trading to everyone.
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Old August 24th, 2016, 09:31 AM   #639 (permalink)
The fun is in the numbers
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
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Favorite Futures: ES
 
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Posts: 2,197 since Dec 2010
Thanks: 696 given, 967 received

Try 2

7:22 AM 8/24/2016

I see myself closing my books (completing my work) on Friday. Trading has been going great I have been catching the major swings and have attained my goal of
50 points per contract for the week
and beating it. This week I nailed 63 points! Oh Yeah!!

I close the lid of my laptop with a big huge smile of satisfaction. Yes!!

I pack my stuff away and put $20 in the tip jar at Starbucks.
I wish everyone a great weekend and head off to the store to buy a special treat for supper!

Good trading to everyone.
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Old August 24th, 2016, 11:11 AM   #640 (permalink)
Market Wizard
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aquarian1 View Post
7:22 AM 8/24/2016

I see myself closing my books (completing my work) on Friday. Trading has been going great I have been catching the major swings and have attained my goal of
50 points per contract for the week
and beating it. This week I nailed 63 points! Oh Yeah!!

I close the lid of my laptop with a big huge smile of satisfaction. Yes!!

I pack my stuff away and put $20 in the tip jar at Starbucks.
I wish everyone a great weekend and head off to the store to buy a special treat for supper!

Wow, impressive aquarian1! Congratulations!!!

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