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hello Don
My god ,,
I now believe you Finally got it all together,,
and on your way to a GREAT success,,
keep up the good work,,
stay in THIS course!!
nice day
Ben
----- Original Message -----
From: "Don Thompson" <detomps@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, March 20, 2002 8:17 PM
Subject: [RT] S&P Day Trading
> Ron,
>
> One book that deals with geometric ratios other than the Fibonacci
Series.
> Here in you will
> discover that there is more to life than .618 and .382.
> Square Root 2, 3, and 5 and the reciprocals and the expanding and
> contracting of the series.
>
> Bryce Gilmore's first book ( Market Geometry) is a pretty apt description
of
> the numbers and ratios that are out there that a freely
> traded market will work to. Gilmore is the one who brought the .786
> retracement to view for traders.
> It is left to you to see how it all fits together. So you have a bit of
work
> cut out if you don't have a utility to calculate it easily. In ES such
> geometry works really good.
>
> His third book, Trading With an Edge, is a pretty good book about how he
> thinks, basically he uses his expertise
> in time and price to figure good guess as to current trend in the market,
> but when it comes to trading it is all
> pattern and low risk entry. His main point is to find those trades with
low
> risk and load the boat, since they never
> come back on you. He doesn't hold over night. Also his method is pretty
> much pure price with no indicators, just
> the chart.
>
> A good example in ES is in the gif. the scale is the current days range
> at about 1:30,
> the point is that traders on the second rally at 1:30 sold at 1163.50
limit.
> The buy stop is one tick above 1164.00 or
> 1164.25. So you only risk 3/4 of a point to figure if you are right or you
> are wrong. This is a low risk entry and
> is a discretionary kind of thing, as far as I know. This is one that will
> come back on you, but the internals were
> pretty grim so probably not. The biggest thing is to be around successful
> traders who are making money in the market
> that you want to trade! It will be really inspiring, and as you watch
them
> work the market, you begin to see that it can be done.
>
> Don Thompson
>
>
>
>
> ----- Original Message -----
> From: "Jim Johnson" <jejohn@xxxxxxxxxxxxxxxx>
> To: "Ron Cernokus" <roncer@xxxxxxxxxxx>
> Cc: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, March 20, 2002 7:17 PM
> Subject: Re[2]: [RT] S&P Day Trading
>
>
> > Hello Ron,
> >
> > couple of ideas for you--
> >
> > I trade intraday SP's and have found I've learned most about patterns
> > from:
> >
> > Teresa Lo of www.trendvue.com. her chat room is OK for a while. her
> > Trader's Manual is very well written, clear, stripped of jargon and
> > fluff. good stuff on simple patterns and how she trades them.
> >
> > Linda Raschke course (expensive) is very good for that. the
> > StreetSmarts book is only fair for that purpose.
> >
> > Joe Ross's book Trading as a Business has some good stuff but is very
> > overpriced i think. his setup patterns are probably better explained
> > and used by T Lo above.
> >
> > Nisson or Morris for candlestick formations. a few basic ones are all
> > lyou need.
> >
> > Ultimate Trading Guide by Hill, Pruitt and Hill is very good for
> > patterns in the first half of the book especially.
> >
> > Although not geared to patterns only, Trader Vic by Vick Sperandeo has
> > some good stuff.
> >
> > I've just begun Alan Farley's Mater Swing Trader but it promises to be
> > very helpful.
> >
> > The one thing I've noticed is that after you strip away all the cute
> > names etc, many of these chart patterns are old as the markets. Many
> > of these current authors are repeating, with the help of easy-to-make
> > charts the same stuff old timers like Schabacker, Sklarew, Wyckoff,
> > Kerr, Dunnigan, Dow described earl in the 20th century. Candlesticks
> > are even older.
> >
> > If I could buy only one, it would be Teresa Lo's manual.
> >
> > --
> > Best regards,
> > Jim Johnson mailto:jejohn@xxxxxxxxxxxxxxxx
> >
> > Wednesday, March 20, 2002, 6:47:16 PM, you wrote:
> >
> >
> > RC> Don,
> >
> > RC> I also trade in the discretionary style you mentioned here. However
I
> > RC> feel the need for better short term pattern recognition skills. Is
> > RC> there any text that you or other discretionary traders might like to
> > RC> recommend for short term pattern recognition. Comments appreciated.
> >
> > RC> Ron
> >
> >
> > RC> Don Thompson wrote:
> > >>
> > >> John,
> > >> Your first catostrophic stop loss is $3000 or 12 S&P Points? Whew..
> that
> > >> takes alot of balls to trade that level of
> > >> a stop. My inclination is to get it down to two points or so.. no
more
> than
> > >> that. I can see you might have to make
> > >> a system do this kind of stop loss if you aren't looking at the
actual
> > >> prices during the day trading it. The
> > >> day traders I know who are successful don't have more than a 2 point
> stop
> > >> loss and when in doubt they get out
> > >> at 1 or .50 at best. But they are purely discretionary traders that
> work off
> > >> of price and pattern.
> > >>
> > >> Don Thompson
> > >> ----- Original Message -----
> > >> From: "profitok" <profitok@xxxxxxxxxxxxx>
> > >> To: <realtraders@xxxxxxxxxxxxxxx>
> > >> Sent: Wednesday, March 20, 2002 1:52 PM
> > >> Subject: Re: [RT] S&P Day Trading
> > >>
> > >> > hello john
> > >> > I can not see how you can make money if your profit objective is
> SMALLER
> > >> > than your stop loss
> > >> > nice day
> > >> > Ben
> > >> > ----- Original Message -----
> > >> > From: "John Cappello" <jvc689@xxxxxxx>
> > >> > To: <realtraders@xxxxxxxxxxxxxxx>
> > >> > Sent: Wednesday, March 20, 2002 6:44 AM
> > >> > Subject: [RT] S&P Day Trading
> > >> >
> > >> >
> > >> > >
> > >> > > My system has not performed at max this year so far and I am
doing
> > >> > > adjustments to current market conditions mainly related to
> psychology
> > >> > > of the market and ranges. I am still trading it at a low contract
> > >> > > levels 5% of asset allocation. After debugged will step up.
> > >> > >
> > >> > > Adjustments being made.........entry and exits not limited to
Level
> 2
> > >> > > and 3 Supports and Resistance.
> > >> > >
> > >> > > Widen trading ranges..............expected today [1179 to 1183]
> sell
> > >> > > points [1165 to 1169] buy points. No trade if total range beyond
> > >> > > 1183 to 1165 at open.
> > >> > >
> > >> > > My personal stops are $3000 ; min profit target $2000 ; trailing
> stop
> > >> > > once $1500 profit reached is $750 ; MOC or OCO if tweaked.
> > >> > >
> > >> > > John
> > >> > >
> > >> > >
> > >> > > To unsubscribe from this group, send an email to:
> > >> > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >> > >
> > >> > >
> > >> > >
> > >> > > Your use of Yahoo! Groups is subject to
> > >> http://docs.yahoo.com/info/terms/
> > >> > >
> > >> > >
> > >> >
> > >> >
> > >> >
> > >> > To unsubscribe from this group, send an email to:
> > >> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >> >
> > >> >
> > >> >
> > >> > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> > >> >
> > >> >
> > >>
> > >>
> > >> To unsubscribe from this group, send an email to:
> > >> realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >>
> > >>
> > >>
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> http://docs.yahoo.com/info/terms/
> >
> >
> > RC> To unsubscribe from this group, send an email to:
> > RC> realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
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> >
> >
> >
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> >
> >
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> >
>
>
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