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Stating The Obvious and The Quest For Wisdom

  • #721
  • Mar 17, 2010 5:16pm Mar 17, 2010 5:16pm
Quoting markmm
If you write the book, when do you think it will be available?

Also apart from Harris's book and Oslers papers, is there any other books or research you would suggest?
Well, seeing as how I'm 1 response short of having the interest I needed to start the book, it looks like I will be starting it this weekend. Having already written a lot of it throughout the forum and in training Mike, I imagine it shouldn't take too long. Six months maybe? I won't really know until it's done, but that’s my guess anyway...

In the interim, the only other reco I would have is Reminiscences of a Stock Operator. That book is like the bible. Every time you read it new truths seem to reveal themselves...
  • #722
  • Mar 17, 2010 5:17pm Mar 17, 2010 5:17pm
Quoting Darkstar
(Shrug) We would have to find one and ask him. I've never met another one...
lol best answer I've heard all day! honestly guys, just in that one statement alone will tell you how confident Darkstar is, and I beleive this is the kind of confidence you need to be successful in trading and in life.

I don't post much here because I spent most of my time reading and trying to soak up as much knowledge as possible, but I have to admit this is by far one of the most interesting and thought provoking threads on FF. I want to encourage everyone to keep this thread positive so that it doesn't fall in the gutter where most posts end up.

A big thanks to Scotty (congrats on the baby btw!) and Darkstar (it's nice to read your posts in real time, hopefully you won't dissapear for 2 years again) and the rest of you guys for your contributions. Bravo!
  • #723
  • Mar 17, 2010 5:18pm Mar 17, 2010 5:18pm
Quoting Darkstar
I don't see thats its really an inefficiency of the market. This is basic orderflow mechanics in action, so short of the market mechanics changing; I don't see the trade going away.
I'm glad this isnt considered an ineffeciency because otherwise I'd be confused. That word gets thrown around alot(im even guilty probably) but like what you mentioned about guaranteed fills etc. Those are what I think of when I think of ineffeciencies.
  • #724
  • Mar 17, 2010 5:20pm Mar 17, 2010 5:20pm
Quoting Darkstar
Well, seeing as how I'm 1 response short of having the interest I needed to start the book, it looks like I will be starting it this weekend. Having already written a lot of it throughout the forum and in training Mike, I imagine it shouldn't take too long. Six months maybe? I won't really know until it's done, but that’s my guess anyway...

[color=black][font=Verdana]In the interim, the only other reco I would have is Reminiscences of a Stock Operator. That...
I have read it, but I think as your knowledge and experience grows you might "get" more and more each reading. Ill read it again soon.

Heres a link I found for some other folks.

Are you worried that your real name will be revealed to all us FFers, when the book comes out, or maybe Author : Darkstar?

http://www.ny.frb.org/education/addpub/usfxm/
Economists have forecast 9 out of the last 5 recessions
  • #725
  • Mar 17, 2010 5:21pm Mar 17, 2010 5:21pm
Quoting markmm
I have read it, but I think as your knowledge and experience grows you might "get" more and more each reading. Ill read it again soon.

Heres a link I found for some other folks.

http://www.ny.frb.org/education/addpub/usfxm/
That's a great publication. I think I first found it in the Technical Analysis Fallacy thread.
  • #726
  • Mar 17, 2010 5:24pm Mar 17, 2010 5:24pm
Quoting Deusomega
That's a great publication. I think I first found it in the Technical Analysis Fallacy thread.
Yeah thats where I got it, ive just printed out all 100+ pages of it.
Economists have forecast 9 out of the last 5 recessions
  • #727
  • Mar 17, 2010 5:34pm Mar 17, 2010 5:34pm
Quoting Darkstar
I started looking for clues that someone was hunting.
Do you always trade on the side of the hunting party?

If the defense looks like it may be strong do you go for bounces or just leave it alone?

Thanks!
  • #728
  • Mar 17, 2010 5:35pm Mar 17, 2010 5:35pm
I haven't read that yet.. its on my list.

Ya know that FTI guy really knows his shit. Its kinda funny cuz I started reading the thread from the beginning and I kept think "man this guy must have been trading some size" and "wow he really has a deep grasp of the market". Then about 40 pages in I discover he was a top market maker in a tier 1 bank.

If you guys have the time, thats definitly a thread worth spending a few weeks on. Sometimes its hard to read, but its nothing short of a goldmine.
  • #729
  • Mar 17, 2010 5:38pm Mar 17, 2010 5:38pm
Hi DS

I have been following your method, studying the market participants and their actions and reactions to a point where I have a good feel of the flow, and have almost reached a point where a chart is not needed and I thank you for sharing your wisdom here. I have been fairly successful having lost only 2 of my last 27 trades and I do not trade with stop losses but the problem I have is suffering terrible drawdown when I got the play wrong and the price has run away - an example was on cable on monday when it was rumoured that a UK clearer was dumping the pound in the London open..but I only got to know that after the fact! This situation caused me to exit with a huge loss but if I had hung on and carried on scaling out then I would have been able to exit near enough to BE. I have found this to be the case with several other trades that I did not take because I was not at my PC but would have suffered the same DD, however would have eventually come back to BE if I kept on scaling..What would you do in cases like this where there is heavy selling or buying/stop cascade and you are stuck on the wrong side of the market? What is the maximum DD that you will tolerate?

Thanks
Ro
  • #730
  • Mar 17, 2010 5:40pm Mar 17, 2010 5:40pm
Quoting FXSurfer
Do you always trade on the side of the hunting party?

If the defense looks like it may be strong do you go for bounces or just leave it alone?

Thanks!
I like trading with the hunters because the probabilities are better. High win rates for small pips makes me feel good. Thats just personal preference though. As I said, you can build systems in many diffrent ways from that type of event. If you prefer big pip wins at lower winrates you can either fade or play for cascades.

I wouldn't ever trade with the defenders though. There is no way I can see to establish even a basic system around helping them. Not to say it can't be done, I just haven't found one...
  • #731
  • Mar 17, 2010 5:44pm Mar 17, 2010 5:44pm
Quoting Darkstar
I haven't read that yet.. its on my list.

Ya know that FTI guy really knows his shit. Its kinda funny cuz I started reading the thread from the beginning and I kept think "man this guy must have been trading some size" and "wow he really has a deep grasp of the market". Then about 40 pages in I discover he was a top market maker in a tier 1 bank.

If you guys have the time, thats definitly a thread worth spending a few weeks on. Sometimes its hard to read, but its nothing short of a goldmine.
It's an interesting thread... I read through a good amount of it but I found myself feeling lost it just feels like its hard to find direction in that thread. Hmm I remember you talking about advanced averaging techniques. Did you pick up some of that stuff from that thread? I guess my main frustration with that thread was its high "feel" component but averaging was a big part of it as well. But I'm a big newb and haven't found my "feel". That's one reason I like IFR the cause and effect component. Things happen and I can use common sense to think of reasons.
  • #732
  • Mar 17, 2010 5:47pm Mar 17, 2010 5:47pm
Quoting Deusomega
It's an interesting thread...
I liked the parables. Scorpion and the Turtle, etc, etc.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #733
  • Mar 17, 2010 6:07pm Mar 17, 2010 6:07pm
Quoting LasVahGoose
I liked the parables. Scorpion and the Turtle, etc, etc.
That was my favorite too . . .
  • #734
  • Mar 17, 2010 6:08pm Mar 17, 2010 6:08pm
Quoting Pips_Cruiser
That was my favorite too . . .
They bored me to death.
Living the adventure in my head.
  • #735
  • Mar 17, 2010 6:10pm Mar 17, 2010 6:10pm
Quoting Leonlorenzo
They bored me to death.
To each his own!
  • #736
  • Mar 17, 2010 6:10pm Mar 17, 2010 6:10pm
Quoting Leonlorenzo
They bored me to death.
lol you want it straight, no bs!
Economists have forecast 9 out of the last 5 recessions
  • #737
  • Mar 17, 2010 6:22pm Mar 17, 2010 6:22pm
Yes. that topic is full of gems.

it's definitely a worth reading.
Attached File(s)
File Type: txt FTI.txt   281 KB | 706 downloads
  • #738
  • Mar 17, 2010 6:23pm Mar 17, 2010 6:23pm
Looks like FTI is leaving his thread again.
Economists have forecast 9 out of the last 5 recessions
  • #739
  • Mar 17, 2010 6:33pm Mar 17, 2010 6:33pm
Quoting markmm
Looks like FTI is leaving his thread again.
He's testament to the fact that great traders can also be (figuratively speaking) feking annoying mo-fo's. The way he words his posts makes me cringe, but saying that, so do most others.

Anyone know if negative people die earlier? I was speaking to a friend who's a girl but not a 'Girl friend', and she told me that Id die young and alone earlier today for saying I think it's wrong children are told there is a Saint Nick.
Living the adventure in my head.
  • #740
  • Mar 17, 2010 6:39pm Mar 17, 2010 6:39pm
Quoting Leonlorenzo
He's testament to the fact that great traders can also be (figuratively speaking) feking annoying mo-fo's. The way he words his posts makes me cringe, but saying that, so do most others.

Anyone know if negative people die earlier? I was speaking to a friend who's a girl but not a 'Girl friend', and she told me that Id die young and alone earlier today for saying I think it's wrong children are told there is a Saint Nick.
Ah well at least he didn't scam, or start charging for his knowledge, not easily pleased are you.
Economists have forecast 9 out of the last 5 recessions
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