Hi everyone
rumours of my passing are somewhat premature. I've actually been away so not available to participate. but here are a couple of observations:
1. i made a bad call on 16 may but suffered very little because i had a tight stop and didn't re-enter.
2. those of us MM fans understood that last friday could have been the turn date, again, hence the tight stop.
3. there's no doubt that the further back you go the better your analysis will be. sure it's a giant pain in the rear to do, but there's no getting away from hard work if you truly want to do something properly.
I'm surprised at Sandrab here - that seems to be a mighty fast turnaround in enthusiasm. MM does tempt one into over-trading potentially because once you've nailed a few points to the penny and to the 5-minute bar, it's easy to get cocky with it! but Sandra's comments also betray the possibility of not taking responsibility for one's own trades.
Ultimately MM is a course, and a bloody great one at that, but the way i see it, it's still up to me to get it right.
currently neutral because i've been away, but we're looking good for a turn shortly. monday or tuesday would be ideal, but in this particular instance i'm going to wait until the market tips its hat and not try to go for every last penny from the turn!
rob
rumours of my passing are somewhat premature. I've actually been away so not available to participate. but here are a couple of observations:
1. i made a bad call on 16 may but suffered very little because i had a tight stop and didn't re-enter.
2. those of us MM fans understood that last friday could have been the turn date, again, hence the tight stop.
3. there's no doubt that the further back you go the better your analysis will be. sure it's a giant pain in the rear to do, but there's no getting away from hard work if you truly want to do something properly.
I'm surprised at Sandrab here - that seems to be a mighty fast turnaround in enthusiasm. MM does tempt one into over-trading potentially because once you've nailed a few points to the penny and to the 5-minute bar, it's easy to get cocky with it! but Sandra's comments also betray the possibility of not taking responsibility for one's own trades.
Ultimately MM is a course, and a bloody great one at that, but the way i see it, it's still up to me to get it right.
currently neutral because i've been away, but we're looking good for a turn shortly. monday or tuesday would be ideal, but in this particular instance i'm going to wait until the market tips its hat and not try to go for every last penny from the turn!
rob
tradershort
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sounds nice, but there's no Holy Grail, period. If there were, then the smartest people in the industry would be using it and the markets would stop being free markets. If there were, then the smartest artificial intelligence computers would be nailing the markets day and night and they're not. No, there's no holy grail but what there is remains desperate hope to believe in anything that might help a trader develop a perfect trading plan. To this day, the closest one can come to a grail is money management the way Livermore pioneered it. Place trades with extreme diligence, cut losses quickly and let winners ride. Eventually, you'll come out ahead. Easier said than done though.
Ooooh, could be a mistake... pretend 2 weeks has passed <g>
Mofo - exactly, and to my mind provided MM alerts the user to something like this (or some equally valid alternative) I'd consider that a point in support of MM. Delta has points that invert (rather more than they reckon, in my view, but that's anoother story) so to me it woul make sense to predict the turn as stage 1, stage 2 would be to sit and wait to see signs it had started, and 3 would be to confirm direction to ensure I didn't short when an inversion made it into a long or vice versa. Assuming decent calls and a fair rate of accuracy I would then expect basic TA skills and money management to allow me to make a profit.
It IS too easy to be put off by the occasional failure, it can take an awfully long time to decide that the underlying system is flawed (which I'm not suggesting here) as you need to be very careful it isn't your own failure to apply it at root of the problem... this is often hard to work out with more complex systems, especially those with 'judgement calls' as part of the toolbox.
Sunseeker - thankyou very much, you've answered a good few of my own questions about MM. I'm not looking to buy it or anything, just curious at how Steve extended Delta.
One final point - EVERY system or method will have people who can use it and others who cannot. Being unable to profit from it when others are doing so is not a personal fault, but it does suggest that the system is in fact okay... just not suited to yourself.
Dave
Mofo - exactly, and to my mind provided MM alerts the user to something like this (or some equally valid alternative) I'd consider that a point in support of MM. Delta has points that invert (rather more than they reckon, in my view, but that's anoother story) so to me it woul make sense to predict the turn as stage 1, stage 2 would be to sit and wait to see signs it had started, and 3 would be to confirm direction to ensure I didn't short when an inversion made it into a long or vice versa. Assuming decent calls and a fair rate of accuracy I would then expect basic TA skills and money management to allow me to make a profit.
It IS too easy to be put off by the occasional failure, it can take an awfully long time to decide that the underlying system is flawed (which I'm not suggesting here) as you need to be very careful it isn't your own failure to apply it at root of the problem... this is often hard to work out with more complex systems, especially those with 'judgement calls' as part of the toolbox.
Sunseeker - thankyou very much, you've answered a good few of my own questions about MM. I'm not looking to buy it or anything, just curious at how Steve extended Delta.
One final point - EVERY system or method will have people who can use it and others who cannot. Being unable to profit from it when others are doing so is not a personal fault, but it does suggest that the system is in fact okay... just not suited to yourself.
Dave
exterminator
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sandrab said:
Sandrab
interesting charts. what package do you use and how does the programme work on the changing of the colors?
sandrab
Active member
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He guys
Tell me something
1. What do you guys trade
2. What time frame do you trade - intraday/swing/long term
3. R anybody interested in having charts to view
If there r any tech heads there - give me some hints on how to put real time charts on this site. raw - unadultrated real time charts. take it or leave it.
Give me some hints guys
P.S. I know few traders are femele. I'm an exception and I'm happy 4 that.
S
Tell me something
1. What do you guys trade
2. What time frame do you trade - intraday/swing/long term
3. R anybody interested in having charts to view
If there r any tech heads there - give me some hints on how to put real time charts on this site. raw - unadultrated real time charts. take it or leave it.
Give me some hints guys
P.S. I know few traders are femele. I'm an exception and I'm happy 4 that.
S
trendie
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sandrab said:
Hi sandrab,
1: Dow, Sp500, GBPUSD, EURUSD, DAX.
2: Swing / mulyi-day (mainly because I spreadbet, and the spread is too great to make intra-day worthwhile)
3: YES. the more informative charts the better !! (but they only make sense if you annotate them with your reasons for triggering a trade, eg; RSI, MACXD, Fib-retrace, etc)
Oh, by the way, welcome to T2W !!
EDIT: "does it worry you that you're a woman":
No. As long as you post profitable trades, and explain your reasoning, you could be a penguin for all I care !
sandrab
Active member
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hi
Thanks
I thought I had gone deaf
S
No. As long as you post profitable trades, and explain your reasoning, you could be a penguin for all I care !
I'm actually a Female Kangarooooooooo!
trendie said:Hi sandrab,
1: Dow, Sp500, GBPUSD, EURUSD, DAX.
2: Swing / mulyi-day (mainly because I spreadbet, and the spread is too great to make intra-day worthwhile)
3: YES. the more informative charts the better !! (but they only make sense if you annotate them with your reasons for triggering a trade, eg; RSI, MACXD, Fib-retrace, etc)
Oh, by the way, welcome to T2W !!
Thanks
I thought I had gone deaf
S
No. As long as you post profitable trades, and explain your reasoning, you could be a penguin for all I care !
I'm actually a Female Kangarooooooooo!
Last edited:
sandrab said:
hi sandrab
i enjoy reading all posts on the MM ... (but not from all posters - or should i say imPOSTERS) .. anyway that's another story.... but I was wondering, could you please explain your above post? IT seems you became anti-MM , and now you are pro-MM again ...or have i misunderstood? I eagerly await your reply....cos if u r anti-MM, then I definately want to know why....
cheers....
