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Well, well, well...
In the spirit of contributing and making RT hum along as it used to a year
or so ago, I thought I might add my pennyworth to this thread.
Last week, I was invited by DBC International (whose Signal feed I subscribe
to) to conduct a seminar on my approach to trading the T-Bonds (based on the
manual most of you know that I am putting together). DBC publicised the
event to their UK clients and expected around half a dozen to a dozen
people, for an evening.
In the event, we had 50 for the first evening, then another 50 the following
evening and, amazingly, another 50 for a third evening. The concept seemed
to catch the imagination!! I have no idea whether any RTers were present
in the audience to give their own reaction, but all I can say is, that those
who came up to me after each event all thought that 'learning to read the
tape' was what made the content of particular interest.
The fact that I didn't use the sun, the moon or the stars; that I didn't
use waves to try and surf along, or laggging indicators to lead the way
ahead, but rather, relied on following the pit traders and locating the key
areas of support and resistance, seemed to strike a chord with most.
It appreared that everyone had tried one or another of the the many
advertised systems on the market, with little or no effect - except
adversely on their pocket. Some had tried some really quite expensive
concepts and I have to say that I feel very sorry for those who have been
taken for a ride on the Delta thread we have been reading about... It is
all such heartache and so fruitless...
They were genuinely elated when they could see a roadmap from which they
could trade each day. The simplicity of 'looking left' and seeing all the
previous points in the area, where the market made a significant turn, and
using these to great effect, were not so much astounding, as they were
practical.
As you might imagine, Mr Fibonacci featured a bit and it is amazing how many
times his .618, .382, etc comes into play while watching the price action...
Let me urge you to look for the simple. The very simple, in front of your
face, facts and use these as a means of learning to read the tape.
Obviously, I am talking day-trading, here - i.e. those of us who choose to
earn a daily loaf from the market, regardless of where the sun or moon is
at the time... and whatever the delta, gamma and vega is doing to someone
else's position...
Stay focused on the present, with an eye to the past!
Bill Eykyn
t-bondtrader@xxxxxxx
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