Anyone scalping the FTSE Futures??

[bustech]

Wolf of Wall Street.

Sky News Australia - Video

 

[SuddenDeath]

s&p closed but still moved 11 points yesterday...so what was yesterdays close on the cash?

think u use friday cash close

 

[SuddenDeath]

FTSE is 5831 has bounced 67pts from yesterdays low, Sp500 dec is strong

 

[hereward the wake]

i have read page 95 of it very good, put call indicator is good. I use a direct access platform it has that put/call indicator.

he does not like charts, says anyone using charts will fail.

he says a lot of people providing signal services and selling books cant make money from trading,

he mentions Norman Fosback i have watched some of these guys videos, pretty good

I plotted 6 months worth of extreme puts which gave 11 calls only 2 of which resulted in down movements.

Seems to back up that the 'dumb money' get it wrong 80% of the time

 

[Dick Lexic]

think u use friday cash close

don't think we can ignore yesterdays move?*%^

 

[Dick Lexic]

a hold above 5817 could give a clue....cash

ditto

 

[SuddenDeath]

I plotted 6 months worth of extreme puts which gave 11 calls only 2 of which resulted in down movements.

Seems to back up that the 'dumb money' get it wrong 80% of the time

i think he misunderstand options, option is like a insurance policy, if u have life insurance and u do not die does that mean u are dumb to have had the policy?

nyse specialist indicators are good but how easy is it to find the data?

 

[hereward the wake]

i think he misunderstand options, option is like a insurance policy, if u have life insurance and u do not die does that mean u are dumb to have had the policy?

nyse specialist indicators are good but how easy is it to find the data?

He says that enough options speculators are using the leverage because they don't have enough cash to invest hence the 'dumb money' tag. I just subscribed to wallstreetcourier.com I'll let you know how that goes.

 

[bustech]

I plotted 6 months worth of extreme puts which gave 11 calls only 2 of which resulted in down movements.

Seems to back up that the 'dumb money' get it wrong 80% of the time

What did you and SD think to the money management part of the book?

Also he liked the long side of the market more than the short side, the market does spend more time going up rather than going down.

The weak DOW for 2 days and last hour in the DOW on the second day for upside and carry on into the third looks a good trade option.

Good read, free link for anyone again.

ftp://195.214.211.1/books/DVD-033/Smith_G._How_I_Trade_for_a_Living_(1999)(en)(272s).pdf

 

[SuddenDeath]

He says that enough options speculators are using the leverage because they don't have enough cash to invest hence the 'dumb money' tag. I just subscribed to wallstreetcourier.com I'll let you know how that goes.

wallstreetcourier have some good free tools, do they have the nyse specialist info?

 

[Dick Lexic]

we have a thread on here called follow the smart money ...this is a link posted on it
Commitments of Traders - CFTC

i can't really figure it out but maybe it's similar to the data you are looking for

you only get what you pay for so why is this book only 1p on amazon?

 

[SuddenDeath]

What did you and SD think to the money management part of the book?

Also he liked the long side of the market more than the short side, the market does spend more time going up rather than going down.

The weak DOW for 2 days and last hour in the DOW on the second day for upside and carry on into the third looks a good trade option.

Good read, free link for anyone again.

ftp://195.214.211.1/books/DVD-033/Smith_G._How_I_Trade_for_a_Living_(1999)(en)(272s).pdf

great book i am upto page 98 not seen anything on money management yet.

 

[hereward the wake]

we have a thread on here called follow the smart money ...this is a link posted on it
Commitments of Traders - CFTC

i can't really figure it out but maybe it's similar to the data you are looking for

you only get what you pay for so why is this book only 1p on amazon?

12 years old Dick

 

[hereward the wake]

great book i am upto page 98 not seen anything on money management yet.

its a sound chapter. He only plays longs and there is a chapter on trading indexes though he only traded them until he made enough money to invest in mutal funds.

 

[SuddenDeath]

for money management for active traders i think the "kelly value" is the best, it will optimize the growth in your equity curve based on your win/loss ratio and win size/loss size

Using kelly value in your position sizing and trading

 

[Dick Lexic]

12 years old Dick

only read a few chapters but already i'm bored ....it's a trading book why do they always fill them up with stories? why not just get to the meat?... probably because the book would only have 10 pages then and wouldn't sell.....well you might get 1p for it

only kidding guys

 

[SuddenDeath]

charles nenner on cnbc now, why do they keep letting this clown on cnbc?

 

[SuddenDeath]

check out the reviews of this book,

http://www.amazon.co.uk/Fortunes-Formula-Scientific-Betting-Casinos/dp/0809045990

 

[bustech]

FTSE rejects 5840 yet again in October.
FTSE morning move up today should push the ASX above 4500(aim 4520) and Hong Kong towards 21600 on Wednesday.
Unless there is a sell off in the FTSE and closes below 5800.
Current
ASX 4495
HK 21440

ADD
If this plays out should mean FTSE opening above 5840 on Wednesday.

 

[Dick Lexic]

if you are a fan of martin cole (i am not)go do some totusunus

Totusunus Success Principles About - YouTube

ps he wrote a book 11 years ago it sells on amazon for £68!