No B.S. Day Trading

[Grey1]

Grey1
If you make money doing what you do, then I also say "good luck" to you, sir, and may the trading gods be in your corner. But you are not telling the whole story.

The concept of scalping may not be new to you but I've received many responses from people on this site who are not familiar with it and are looking for more information.

I've traded U.S. treasury futures, the Eminis, the bund and bobl, the eurostoxx, the dow, as well as stocks on the Nasdaq and the NYSE and I can tell you that scalping works in all of those markets except NYSE stocks. Specialists still run it. It is what it is.

Algorithms certainly have an impact but that is why you avoid playing in the chop. You pick spots where it is clear that a person is making the decisions because, as you say, "Even program traders get caught scalping if a new information( all categories of NEWS ) HIT the market". If program traders override their own programs, that sort of makes my case for me. Someone else said something about emotions making up 90% of trading and if you have a technical approach, you're cutting out the emotions. I agree that a trader must have an extraordinary amount of personal discipline but wouldn't it be wise to have a grasp on how emotions affect the market? Isn't it wise to understand that when a bunch of people panic and sell, you don't want to stand in front of them. Not until they're all done selling. It's not rocket science.

The markets are not efficient. I'm surprised you even said that. They never have been and they never will be because this is a big damn game. In theory, a stock is worth a certain price but how do you know what that price is? You can't see the company's books. In theory, a commodity is worth a certain price but oil was at $145 two months ago and now it's at $107. Did the fundamentals change so much in two months? Did the algorithms bring it back in line?

No. When more money was interested in buying, it went up and when more money was interested in selling, it went down. It's that simple.

Scalping is risk adjusted to the extreme because a scalper is always looking for the best possible price. Sometimes I miss trades because of this but also saves me sometimes. Scalping is simply about looking for momentum and trying to ride it. When there's not any, you don't trade.

My thing with technicals is that, if a technical setup works, there's a reason for it. It didn't work because it's a technical setup. It worked because more money went with the setup than against it. Even if it was money being tossed around by an algorithm, you still see the trades taking place. You see the market trade 1,000, then go bid the next price...and the next.

In regards to calling the market live, the only way I could do that is if you are watching my TT screen...a project I'm working on but am not allowed to discuss in the forums. I freely admit that my opinion can change very quickly and I consider that to be a good thing because the market can reverse at the drop of a hat. Being capable of scratching has saved me much money and one of the points I stress is, if you're a day trader, you just can't take 10 and 15 point losers and you can't let winning trades turn into losing trades. However, I sent a request to join your group and will try to listen in on your next meeting (depending on what time it is). I am curious about your methods.

And I didn't write the book for you. I wrote it for traders who aren't familiar with scalping or how to do it profitably and it's designed to keep people from becoming bogged down in a quagmire of charts and indicators. To give them a new perspective and to explain what actually drives markets...money.

Thanks for the reply

grey1

 

[PitBull]

Grey1
If you make money doing what you do, then I also say "good luck" to you, sir, and may the trading gods be in your corner. But you are not telling the whole story.

The concept of scalping may not be new to you but I've received many responses from people on this site who are not familiar with it and are looking for more information.

I've traded U.S. treasury futures, the Eminis, the bund and bobl, the eurostoxx, the dow, as well as stocks on the Nasdaq and the NYSE and I can tell you that scalping works in all of those markets except NYSE stocks. Specialists still run it. It is what it is.

Algorithms certainly have an impact but that is why you avoid playing in the chop. You pick spots where it is clear that a person is making the decisions because, as you say, "Even program traders get caught scalping if a new information( all categories of NEWS ) HIT the market". If program traders override their own programs, that sort of makes my case for me. Someone else said something about emotions making up 90% of trading and if you have a technical approach, you're cutting out the emotions. I agree that a trader must have an extraordinary amount of personal discipline but wouldn't it be wise to have a grasp on how emotions affect the market? Isn't it wise to understand that when a bunch of people panic and sell, you don't want to stand in front of them. Not until they're all done selling. It's not rocket science.

The markets are not efficient. I'm surprised you even said that. They never have been and they never will be because this is a big damn game. In theory, a stock is worth a certain price but how do you know what that price is? You can't see the company's books. In theory, a commodity is worth a certain price but oil was at $145 two months ago and now it's at $107. Did the fundamentals change so much in two months? Did the algorithms bring it back in line?

No. When more money was interested in buying, it went up and when more money was interested in selling, it went down. It's that simple.

Scalping is risk adjusted to the extreme because a scalper is always looking for the best possible price. Sometimes I miss trades because of this but also saves me sometimes. Scalping is simply about looking for momentum and trying to ride it. When there's not any, you don't trade.

My thing with technicals is that, if a technical setup works, there's a reason for it. It didn't work because it's a technical setup. It worked because more money went with the setup than against it. Even if it was money being tossed around by an algorithm, you still see the trades taking place. You see the market trade 1,000, then go bid the next price...and the next.

In regards to calling the market live, the only way I could do that is if you are watching my TT screen...a project I'm working on but am not allowed to discuss in the forums. I freely admit that my opinion can change very quickly and I consider that to be a good thing because the market can reverse at the drop of a hat. Being capable of scratching has saved me much money and one of the points I stress is, if you're a day trader, you just can't take 10 and 15 point losers and you can't let winning trades turn into losing trades. However, I sent a request to join your group and will try to listen in on your next meeting (depending on what time it is). I am curious about your methods.

And I didn't write the book for you. I wrote it for traders who aren't familiar with scalping or how to do it profitably and it's designed to keep people from becoming bogged down in a quagmire of charts and indicators. To give them a new perspective and to explain what actually drives markets...money.

Couldn't agree more SFL. There is no one answer to trading the market and what you have just described is what us momentum traders have been trying to tell the technical guys.

I know that lots of traders can't follow Grey 1's methods because of the drawdowns. It's down to personal preference.

Must get on now and hit those bids or lift the offers.
PB

 

[Trader333]

I know that lots of traders can't follow Grey 1's methods because of the drawdowns

What on Earth are you talking about ? This is something I have never experienced using his approach.


Paul

 

[Grey1]

I know that lots of traders can't follow Grey 1's methods because of the drawdowns.

None sense. I have traded live for 50 people from this BB who also followed my trades many times and NONE of the traders ever suffered from big draw down. In fact the draw down has been very very small ...

You listening to too much gossip rofl . I think as you said you better go and lift that offer .

Trader333 is one of the guys who attended all my LIVE SEMINARS and you was not there to watch me trade as I remember I refused your Technical Trader membership request 2 times..

Grey1

 

[Charlton]

What on Earth are you talking about ? This is something I have never experienced using his approach.


Paul

I too have never experienced these drawdowns or know of anyone using Grey1's strategies that have.

His approach is to minimize risk and preserve capital at all costs

Charlton

 

[jayjay121]

What on Earth are you talking about ? This is something I have never experienced using his approach.


Paul

actually paul im in discussion with traders who trade and have traded with grey and they told me he does let postions go way against him at times, their words were 'iraj has deep pockets to do so'.


sorry if talking non sense, i don't know all the facts but i do know that no one is trading the same way as grey still to this day including yourself

 

[Trader333]

I can only speak for myself but if you position size correctly then the losses are minimal and I have not experienced a day trading with him where a loss was incurred on the day.

I agree that I don't trade exactly the same way as I don't have as much knowledge and was only commenting on the "large draw-downs" comment which I just haven't seen.


Paul

 

[Grey1]

I can only speak for myself but if you position size correctly then the losses are minimal and I have not experienced a day trading with him where a loss was incurred on the day.

I agree that I don't trade exactly the same way as I don't have as much knowledge and was only commenting on the "large draw-downs" comment which I just haven't seen.


Paul

spot on Paul .. zero pos size= zero risk

just reduce your pos size . Like any other strategy if the pos size is IN CORRECT then RISK is incorrect.

so if some one bet all his money on 1 trade and lost then he has himself to blame

grey1

 

[Grey1]

actually paul im in discussion with traders who trade and have traded with grey and they told me he does let postions go way against him at times, their words were 'iraj has deep pockets to do so'.


sorry if talking non sense, i don't know all the facts but i do know that no one is trading the same way as grey still to this day including yourself

just reduce your pos size and BINGO,, this is nothing to do with the strategy

In my seminar i asked people to choose their own POS size ( as i donot really want to know who has how much,, not my business ). If some one bet all his capital on 1 trade and the stock went belly up is nothing to do with me ,,( I have outlined the correct pos sizing on the Technical Trader .. Traders should stick to this .


I donot think you can find 1 person who attended my seminar suffered a large drawdown while he was in the trade with me,, In fact in my second seminar we met our target of $1000 with in 30 min with a diversified portfolio of 3 or 4 stocks all hitting their target with very small risk ,, On that day I suggested the pos sizing myself,,

If i am not mistaken the CD of the calls and the strategy is downloadable from the TT site

Grey1

 

[PitBull]

actually paul im in discussion with traders who trade and have traded with grey and they told me he does let postions go way against him at times, their words were 'iraj has deep pockets to do so'.


sorry if talking non sense, i don't know all the facts but i do know that no one is trading the same way as grey still to this day including yourself

Thank you jayjay. It's a delicate situation with grey. His words "scalpers are ganstas". If that's not antagonistic what is. I only frequent these boards every so often and that's the last from me

 

[jayjay121]

just reduce your pos size and BINGO,, this is nothing to do with the strategy

In my seminar i asked people to choose their own POS size ( as i donot really want to know who has how much,, not my business ). If some one bet all his capital on 1 trade and the stock went belly up is nothing to do with me ,,( I have outlined the correct pos sizing on the Technical Trader .. Traders should stick to this .


I donot think you can find 1 person who attended my seminar suffered a large drawdown while he was in the trade with me,, In fact in my second seminar we met our target of $1000 with in 30 min with a diversified portfolio of 3 or 4 stocks all hitting their target with very small risk ,, On that day I suggested the pos sizing myself,,

If i am not mistaken the CD of the calls and the strategy is downloadable from the TT site

Grey1

sorry grey, don't want to offend as you but for some reason people on your forum are afraid to ask you or confront you. I now for 100% your methods work and you are 100% genuine and if i was good like you i too would post real trades unlike most on here, so hats off to you.

But there are issues we are not addressing here and i have asked before, why is there no one trader on tt succesful with these methods?, is it because of phschological issues?, under capitalised? perhaps.

What is your personal opinion?, how long did it take you perssonally to achieve consistentcy?, Do you honestly always stick to your rules and position sizing? Do you let the market move against you before winning a trade?
Are you saying postion sizing is vital in making the macci strategy 3 system work?, i personally prefer your vwap strategies and using this mean as many market markers do makes better sense to me and im surprised you no longer use it

 

[keano]

Grey is the real deal, though. One of the only people who you simply can't doubt, makes money from the market on a consistent basis.

Doesn't charge a cent for his help. He says why would he charge? He has the market to make money from. Trades LIVE in front of people for free. Unfortunately been too busy to actually attend the seminars, but have watched them after downloading the event from other members recordings.

Have been very impressed with a few of the other 'coaches' - but there is always a niggling doubt in my head about whether they are just another "harvey walsh" (search this site if you dont know who that is - basically just another scammer)

 

[jayjay121]

i think grey could use alot of discretion in his trading where as we all stick to the rules, this could be a reason no one else in 7 years have come close to any consistency grey does. All the greats on here have traded with him in his home and not one has made it consistently and if they have im sorry, but please post your live proof as grey does.

Please, please dont feel im attacking you grey, im not i promise, i just want to understand why others are failing, truely.

 

[Grey1]

i think grey could use alot of discretion in his trading where as we all stick to the rules, this could be a reason no one else in 7 years have come close to any consistency grey does. All the greats on here have traded with him in his home and not one has made it consistently and if they have im sorry, but please post your live proof as grey does.

Please, please dont feel im attacking you grey, im not i promise, i just want to understand why others are failing, truely.

They have not traded with me at home at all ,, They have spent ONE full day at my home watching me trade. Technical Trader members have only had 5 seminars trading LIVE on pal talk and from what it has written on the Technical Trader every one has seen a huge improvement in their skill and all made $$$ on the day .
How long does it take to become a Plumber? 1 day , 5 days ? why should it take any less to become a Trader?

I feel only during LIVE trading one can teach trading rather than posting some thing on the BB. I have been posting for 8 years on this BB about risk and still people email me asking the very basic questions ,, Obviously posting on BB is not effective.

Grey1 Lovessssssss to trade LIVE and explain why he is taking a trade. From what I remember jayjay you have not attended any of my seminars buddy ,, WHY NOT ?

How else you gonna learn if you donot have the time to JOIN a free seminar where u can ask question about a particular trade ?



grey1

 

[jayjay121]

They have not traded with me at home at all ,, They have spent ONE full day at my home watching me trade. Technical Trader members have only had 5 seminars trading LIVE on pal talk and from what it has written on the Technical Trader every one has seen a huge improvement in their skill and all made $$$ on the day .
How long does it take to become a Plumber? 1 day , 5 days ? why should it take any less to become a Trader?

I feel only during LIVE trading one can teach trading rather than posting some thing on the BB. I have been posting for 8 years on this BB about risk and still people email me asking the very basic questions ,, Obviously posting on BB is not effective.

Grey1 Lovessssssss to trade LIVE and explain why he is taking a trade. From what I remember jayjay you have not attended any of my seminars buddy ,, WHY NOT ?

How else you gonna learn if you donot have the time to JOIN a free seminar where u can ask question about a particular trade ?



grey1

ok fair comment

 

[Charlton]

sorry grey, don't want to offend as you but for some reason people on your forum are afraid to ask you or confront you. I now for 100% your methods work and you are 100% genuine and if i was good like you i too would post real trades unlike most on here, so hats off to you.

On the contrary - Grey1's trading sessions are well-attended and many questions are asked. The sessions have built upon each other, with each one adding more depth and consolidating on the knowledge and skills generated during eariler ones. The sessions discuss the trades and strategies in advance of placing them and many of the attendees follow along on their own accounts using their own position sizes based on the algorithms supplied. These take into account risk, account size, volatility and timeframe.

But there are issues we are not addressing here and i have asked before, why is there no one trader on tt succesful with these methods?, is it because of phschological issues?, under capitalised? perhaps.

I don't know where you get this idea from that no other traders on TT are successful with the methods. It is simply not true. The same kind of psychological factors that govern success with any trading strategy apply equally here and these are well-documented across this site. Capitalisation is not an issue because of active position sizing management that takes into account personal circumstances.

If there were any one factor that I would point out as being essential - it is to stick with it. It takes time to acquire skill, knowledge and experience.

These aspects form only ONE part of an overall strategy that seeks to identify the best market conditions, timing and equities for both day-trading and longer-term.

Charlton

 

[Grey1]

sorry grey, don't want to offend as you but for some reason people on your forum are afraid to ask you or confront you. I now for 100% your methods work and you are 100% genuine and if i was good like you i too would post real trades unlike most on here, so hats off to you.

But there are issues we are not addressing here and i have asked before, why is there no one trader on tt succesful with these methods?, is it because of phschological issues?, under capitalised? perhaps.

What is your personal opinion?, how long did it take you perssonally to achieve consistentcy?, Do you honestly always stick to your rules and position sizing? Do you let the market move against you before winning a trade?
Are you saying postion sizing is vital in making the macci strategy 3 system work?, i personally prefer your vwap strategies and using this mean as many market markers do makes better sense to me and im surprised you no longer use it

I have traded with you today LIVE on SKYP to demonstrate how effective my methodology is and from what you saw I am sure u agree that the calls had a tiny drawdown ,, Having a car itself is not enough to take u from A to B knowing how to drive the car is what which does the trick .

psycological issues can affect any one's strategy .

Grey

 

[Market Wizard]

i think grey could use alot of discretion in his trading where as we all stick to the rules, this could be a reason no one else in 7 years have come close to any consistency grey does. All the greats on here have traded with him in his home and not one has made it consistently and if they have im sorry, but please post your live proof as grey does.

Please, please dont feel im attacking you grey, im not i promise, i just want to understand why others are failing, truely.

I think this is proof that to really succeed at something, it has to be your own. The same applies to trading, especially trading. Even if a system is purely mechanical, the eye will still weed out some discretion, this is related to the a persons individual views, views which one is not conscious of but are effecting the thought process at a deeper level.

There are many minute experiences attached to every single trade, each is felt differently by everyone, there is a pang of anxiousness or a ping of excitement for two different individuals. We all have deeply rooted, individual experiences about money/wins/losses/success/failures.

These surface to various degrees when confronted with uncertainty, be it a small amount or slightly more.

It is these little unique expressions that make trading a very individual and experiential thing, thus the courses and seminars raraely produce winning traders.

One can intellectually understand facts and ideas and entertain them in their mind, but to really OWN the feelings behind these they have to be experienced. Each little twinge or shiver.

 

[Grey1]

I think this is proof that to really succeed at something, it has to be your own. The same applies to trading, especially trading. Even if a system is purely mechanical, the eye will still weed out some discretion, this is related to the a persons individual views, views which one is not conscious of but are effecting the thought process at a deeper level.

There are many minute experiences attached to every single trade, each is felt differently by everyone, there is a pang of anxiousness or a ping of excitement for two different individuals. We all have deeply rooted, individual experiences about money/wins/losses/success/failures.

These surface to various degrees when confronted with uncertainty, be it a small amount or slightly more.

It is these little unique expressions that make trading a very individual and experiential thing, thus the courses and seminars raraely produce winning traders.

One can intellectually understand facts and ideas and entertain them in their mind, but to really OWN the feelings behind these they have to be experienced. Each little twinge or shiver.

A top post Wizard,, and beautifully put,, I wish i could write to this standard,,


grey1

 

[Grey1]

I think this is proof that to really succeed at something, it has to be your own. The same applies to trading, especially trading. Even if a system is purely mechanical, the eye will still weed out some discretion, this is related to the a persons individual views, views which one is not conscious of but are effecting the thought process at a deeper level.

There are many minute experiences attached to every single trade, each is felt differently by everyone, there is a pang of anxiousness or a ping of excitement for two different individuals. We all have deeply rooted, individual experiences about money/wins/losses/success/failures.

These surface to various degrees when confronted with uncertainty, be it a small amount or slightly more.

It is these little unique expressions that make trading a very individual and experiential thing, thus the courses and seminars raraely produce winning traders.

One can intellectually understand facts and ideas and entertain them in their mind, but to really OWN the feelings behind these they have to be experienced. Each little twinge or shiver.

I trade with JAY JAY to day LIVE on SKYP ,, actually he is a good trader and the reason he cannot trade like me is because he comes with a baggage full of different strategies picked over the years from here and there and for every short call reason he has a long call reason and i have now identified where his problem lies,,,

19 trades today 2 loss 4 BE 13 wins ,,

JAY JAY has the knowledge but scattered all over the place ,,,

grey1