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Naked S/R intent trading

  • #41
  • May 26, 2009 1:53pm May 26, 2009 1:53pm
Quoting smittens4212
Btw, appeals to authority are a logical fallacy
Logic plays no role in the herd mentality.

Promising thread you have going here, wasp. I hope to see more VSA adherents wade in on what's shaping up to be an enlightening discussion.

I don't trade completely naked but I am scantily clad.
  • #42
  • May 26, 2009 1:54pm May 26, 2009 1:54pm
Quoting elitejets
Are we on page three already and I missed out.
The thread of yours I learned SR from was called Trading By Price Wasp Stylee.

I am happy to go and fetch the material, put it in a doc and put it here for people to download if you like? Seeing as you need to be a member to read it. Let me know.

Here's my 10cents for what its worth.
Traders like people are all different, and everyone has to develop their own style, timeframe and rules. The only thing consistently true of all good traders is money management, perseverence and hard work.

Too many...
Cheers Nic, the thread name is enough and if people are interested, they will register. No need to make yourself work.

Totally agree with what you are saying. I may not put it across as such but I am not saying there is only one way, not saying anything at all, actually started the thread with 2 questions!

There are plenty of ways to skin a cat, my only qualm and useful insight I can and will always say is, MA's and fibs etc are like stabilisers... step back, see the wood for the trees and you will see all this information is in the chart already in S/R levels. The pretty colours tell you nothing new and distract the eyes from the essence of the charts information.

Oh, that and volume is an incomplete picture!
Ignorance, is blatantly, bliss.
  • #43
  • May 26, 2009 2:22pm May 26, 2009 2:22pm
Quoting thewasp
There are plenty of ways to skin a cat, my only qualm and useful insight I can and will always say is, MA's and fibs etc are like stabilisers... step back, see the wood for the trees and you will see all this information is in the chart already in S/R levels. The pretty colours tell you nothing new and distract the eyes from the essence of the charts information.

Oh, that and volume is an incomplete picture!
The more I learn and the more I trade, the less I find I need.
The most important thing after price is your excel sheet and ROI.

Nic
  • #44
  • May 26, 2009 2:35pm May 26, 2009 2:35pm
Quoting thewasp
Well thanks for that, you have convinced me. Good argument. Way to go showing me the truth.
Right, you use a logical fallacy (bank trader doesn't use volume, says you can't use it... emphatically!) to base your argument on and when called on it get sarcastic. I'm not going to go out of my way to show you how volume can be used when there's a thread in this very subforum that could show and explain it 100 times better than I could, and with evidence of certain traders using it quite successfully. To be quite honest, you could've found answers to your questions with 10 minutes of reading, but we can't expect you to actually do any work now, can we? Easier to just ask for people to provide you with the proof.

Quote
There are plenty of ways to skin a cat, my only qualm and useful insight I can and will always say is, MA's and fibs etc are like stabilisers... step back, see the wood for the trees and you will see all this information is in the chart already in S/R levels. The pretty colours tell you nothing new and distract the eyes from the essence of the charts information.

Oh, that and volume is an incomplete picture!

I agree, on both parts, but I believe volume presents a more complete picture than just price alone. There is price and there is volume, MAs, bollinger bands, etc. are derived from price, and don't provide any additional information about the market. Anything you can see from an indicator such as a MA, you can see from price alone ('naked'). Volume, however, can qualify what you see from price. Take new highs/lows, for instance-- volume can provide additional insight into how the market is reacting to these levels, moreso than any lagging moving average or candlestick can.

You will never get a complete picture, not with price, not with volume, not with fibs, not with solar cycles or chicken entrails.
  • #45
  • May 26, 2009 3:03pm May 26, 2009 3:03pm
Please link me to the article because my search has turned up "James Harris Simons" or "Jim Simmons".

I would like to see where your source of information is from.

BTW, when I say system trader, I do not mean quants.

edit:Um, you deleted your post....why? (mikkom)
  • #46
  • May 26, 2009 3:06pm May 26, 2009 3:06pm
Quoting KillPhil08
Please link me to the article because my search has turned up "James Harris Simons" or "Jim Simmons".

I would like to see where your source of information is from.

BTW, when I say system trader, I do not mean quants.

edit:Um, you deleted your post....why?
Whoops. I thought my comment was a bit out of topic and irrelevant when I read the whole discussion so I deleted it.

Here is an article about simons and yes, I thought you meant quants when you talked about system traders [I'm not quite sure what's the difference].

http://www.bloomberg.com/apps/news?p...d=aq33M3X795vQ
  • #47
  • May 26, 2009 3:17pm May 26, 2009 3:17pm
Quoting mikkom
Whoops. I thought my comment was a bit out of topic and irrelevant when I read the whole discussion so I deleted it.

Here is an article about simons and yes, I thought you meant quants when you talked about system traders [I'm not quite sure what's the difference].

http://www.bloomberg.com/apps/news?p...d=aq33M3X795vQ
Heavy maths and millions of £/$/€ research imo. Cheers, I'll take a look.
  • #48
  • May 26, 2009 3:42pm May 26, 2009 3:42pm
Quoting thewasp
Nah, don't believe it.. I have it on good authority that a large speculator in sterling/yen is the Russian CB (don't ask me why). You really think they are going to hand over that data? Russians! Its just too widespread to get the full picture anyhow. IMO!

On t2w, next to me, the biggest advocater of the irrelevance of volume is a 25 year bank trader, he can't and doesn't use it and will tell you you can't quite emphatically. The only thing they have more than us is the order books of the bank clients.
they dont give out WHO is in the market, just plain volume like 350 mil long 700 mil short etc. and thats about it. i know you can get it because the company work for was in talks with a bank about it. but it was gonna cost us a pretty penny.
  • #49
  • May 26, 2009 3:58pm May 26, 2009 3:58pm
Quoting blacksun1
they dont give out WHO is in the market, just plain volume like 350 mil long 700 mil short etc. and thats about it. i know you can get it because the company work for was in talks with a bank about it. but it was gonna cost us a pretty penny.
You can't get the full forex volume from anywhere. It's just technically impossible.

You can get a large portion of spot volume maybe but not the full volume.
  • #50
  • May 26, 2009 6:53pm May 26, 2009 6:53pm
Quoting thewasp
I have it on good authority that a large speculator in sterling/yen is the Russian CB (don't ask me why)
I have heard that before. What's your source? I cannot remember mine.
Measure twice, cut once
  • #51
  • May 27, 2009 6:58am May 27, 2009 6:58am
Quoting elitejets
Are we on page three already and I missed out.
The thread of yours I learned SR from was called Trading By Price Wasp Stylee.

I am happy to go and fetch the material, put it in a doc and put it here for people to download if you like? Seeing as you need to be a member to read it. Let me know.

Here's my 10cents for what its worth.
Traders like people are all different, and everyone has to develop their own style, timeframe and rules. The only thing consistently true of all good traders is money management, perseverence and hard work.

Too many...
I agree with you.Good advice
  • #52
  • May 27, 2009 10:05am May 27, 2009 10:05am
Anybody know how I can contact 'the Wasp' directly?
  • #53
  • May 27, 2009 3:50pm May 27, 2009 3:50pm
You can not contact him directly. But his method is very good, unfortunately very subjective so almost impossible to backtest and implement.
  • #54
  • May 28, 2009 4:51pm May 28, 2009 4:51pm
Wasp, couldn't reply to you but thanks for the PM

Cheers
Dan
  • #55
  • May 31, 2009 6:06am May 31, 2009 6:06am
Quoting AstonDan
Wasp, couldn't reply to you but thanks for the PM

Cheers
Dan
no probs Dan, tidied, added and linked in profile now if you need to track and PM on if you have any questions.
Ignorance, is blatantly, bliss.
  • #56
  • Jun 1, 2009 3:43am Jun 1, 2009 3:43am
...and off again.

I posted on a thread, the most sensible advice a 15 years experienced private trader could post to the newbies watching and reading, and what happened? It was deleted (like this probably will be)!

This site is like the blind leading the blind. The mods as dumb and ignorant s the posters with 5 indicators but trading 'naked'...

lolz! adious...
Ignorance, is blatantly, bliss.
  • #57
  • Edited 5:52am Jun 1, 2009 5:29am | Edited 5:52am
Quoting thewasp
...and off again.

I posted on a thread, the most sensible advice a 15 years experienced private trader could post to the newbies watching and reading, and what happened? It was deleted (like this probably will be)!
Wasp, i'd like to read what you posted. Could you PM it to me?

Update: Nevermind, i got off my ass, did the legwork and i think i found it the 'bin' (metaphor people) - the one with the naked chart screaming information, right?

As a side note, it's a shame to lose a member like Wasp.
  • #58
  • Jun 1, 2009 5:46am Jun 1, 2009 5:46am
I'd appreciate a copy too Chris ....



Quoting AstonDan
Wasp, i'd like to read what you posted. Could you PM it to me?
  • #59
  • Jun 1, 2009 5:48am Jun 1, 2009 5:48am
Click on his name, then posts, the view the ones in the recycle bin / extracted posts.

On my ipoo so can't link sox.
  • #60
  • Jun 1, 2009 5:56am Jun 1, 2009 5:56am
Cheers Phil, btw, its not 'screaming' a system, its screaming common sense for those willing to open their eyes and put in the work. I may have expanded and helped some peeps if it wasn't deleted.

Oh well, squiggly lines ftw for all!
Ignorance, is blatantly, bliss.
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