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Cornholio's Reading Suggestions

  • #21
  • Aug 15, 2010 5:44pm Aug 15, 2010 5:44pm
Quoting Craig
All good pieces of advice expect for 6, which is rubbish, there is no better way to wreak a edge than by telling people about it.
Yeah, that is kind of strange to include on the list. Their idea with it is to bounce your ideas off of others who may help you see any problems. Creating doubt and confusion is a more likely result. I've pretty stopped sharing any thoughts around here for the same reason. Plus, we've got an impressive number of very antagonistic, very good debate-meisters here. Matching wits and justifying your perspective can turn into a full-time job while your trading goes nowhere.
  • #22
  • Aug 15, 2010 6:01pm Aug 15, 2010 6:01pm
Thanks for this much needed thread!!! I have placed it in my favorite bookmarks.
  • #23
  • Aug 15, 2010 6:16pm Aug 15, 2010 6:16pm
Quoting FXSurfer
I've pretty stopped sharing any thoughts around here for the same reason. Plus, we've got an impressive number of very antagonistic, very good debate-meisters here. Matching wits and justifying your perspective can turn into a full-time job while your trading goes nowhere.
Well put, after a certain point, you just can't be bothered arguing.
The breaking of a wave cannot explain the whole sea.
  • #24
  • Aug 15, 2010 11:53pm Aug 15, 2010 11:53pm
Quoting Craig
Well put, after a certain point, you just can't be bothered arguing.
I understand what you mean by that. I used to be a participating member in an environmental forum, not anymore, it just got way out of hand. I do think, however, that some ideas are worth bouncing off others. Maybe this is the naive side of me speaking here, but I've learned a lot over the past half year that I've been here at it makes me glad to see that so many have decided to share. FXSurfer mentioned confusion and doubt and I've sure had my fair share of it, but I wouldn't say it was that bad, at least for me. For me, it was a just a stage. I now feel that I've learned quite a lot and are able to put most of that behind me. I don't want to sound cocky, but that's the way I feel. An example would be if someone were to pull me down, criticize me or my comments. Given valid criticism, I would have to have another look at what I originally put out to the world, but most of the time, the comments trying to pull you down aren't that valid and so you learn to ignore the negativity in them. I hope this makes sense to you.
If you don't risk, you don't ever have to lose.
  • #25
  • Aug 16, 2010 1:47am Aug 16, 2010 1:47am
FXSurfer and Craig,
just to show you what I mean about sharing, here are some of the best ideas that I've picked up from FF over the last week or two. I think this stuff is pure gold and worth sharing. I am sharing this with you and I'm ready to be shot down.

PeterFM:
Reminiscences of a Complacent FX Trader
Psychology (Greed)

hanover:
Some thoughts on why S/R possibly 'works'
Important – Why systems are profitable (or not)

supremeChaos:
Make a Choice
Regret & Emotions


PS. I agree that sharing a 'system' or a 'strategy' is different as there will always be people tortured by indicator and account balance envy, making sharing somewhat of a hurdle as a large number of members will be unhappy with the 'system' simply because they don't understand it or are unable to implement it. Worse still, some are negative just for the sake of it. On balance, however, I still favor sharing, although I have to admit that I have a very interesting system in the drawer that I'm probably never going to share - I saw what happened to Paul's TM thread and I'm not a fan of self-inflicted wounds.
If you don't risk, you don't ever have to lose.
  • #26
  • Aug 28, 2010 9:43am Aug 28, 2010 9:43am
I've been really busy over the last few weeks, reading and trading for most of my waking hours. As a consequence, I've been unable to keep my promise of posting a list of links that relate to price action (sorry tradpat). It's not the fact that I've been busy per se, but rather that I've found so many good posts about price action that I've kept pushing this post further into the future so as not to leave out anything important. I'm now starting to think that it's best to publish as a list and then update that with another list after enough links have been gathered. I'll try and put something together asap and do a follow-up if necessary.

In the meantime, I would like to introduce you to an excellent podcast (and an excellent podcaster) that I've been listening for well over a year now. It's Russ Roberts and his EconTalk weekly podcast. The podcast focuses on economics and liberty so don't be surprised if prof. Roberts features a podcast about Trotsky and other folk as he did some time ago. Here are some of the episodes that I've found particularly enjoyable:

Sowell on Economic Facts and Fallacies
All podcasts that feature Mike Munger
Ritholtz on Bailouts, the Fed, and the Crisis
Belongia on the Fed
If you don't risk, you don't ever have to lose.
  • #27
  • Aug 28, 2010 11:55pm Aug 28, 2010 11:55pm
A++++ readings , thanks a lot
  • #28
  • Aug 29, 2010 4:13am Aug 29, 2010 4:13am
I am enjoying reading through this thread. Nice work.
  • #29
  • Aug 30, 2010 1:14pm Aug 30, 2010 1:14pm
Wicked thread bugThis is five star stuff for a new person like me. I have been searching FF threads since before I joined,and you have shared some great ones! If a person is patient and selective,he can learn everything in the threads people have posted here,so thanks again bug,and thanks to all the posters i keep learning from,
  • #30
  • Aug 30, 2010 1:46pm Aug 30, 2010 1:46pm
  •  SwissRaj
  • | Joined Aug 2010 | Status: (Ż`·._.· the lonely trader ·._.·´Ż) | 109 Posts
interesting post. thanks bug
>>> psychology is more important than technicalities ^_^
  • #31
  • Aug 30, 2010 2:05pm Aug 30, 2010 2:05pm
Quoting beachallstar
Wicked thread bugThis is five star stuff for a new person like me. I have been searching FF threads since before I joined,and you have shared some great ones! If a person is patient and selective,he can learn everything in the threads people have posted here,so thanks again bug,and thanks to all the posters i keep learning from,
My pleasure. It feels good to offer people the opportunity to find posts and threads that are really worth reading through. I'm a big reader myself and I like to keep archives so it was just a small step for me to start this thread. After all, this place is HUGE and some of the best posts were posted years ago and are now buried under a huge pile of new posts, this can make finding them a bit of a challenge (hint to avid readers and people who take this seriously: investigate the profile pages of the 10v+ posters and those whose posts you generally like and you will strike gold).

Almost forgot... I'm working on a grand list of posts right now, but it will take some time to finish. In the meantime, check that you haven't missed and/or skipped any of the previous links.
If you don't risk, you don't ever have to lose.
  • #32
  • Sep 4, 2010 10:22am Sep 4, 2010 10:22am
Price Action Links - James16 Special*
I've finally completed the first price action tradings list of links (all links are to posts and thread on FF). I've carefully read through each and every one of them. No link has been posted here by chance.

A few notes on the origin of those links
You will notice that all of those links will direct you to the James16 chart thread. That is not by accident. I have been reading the James16 thread since January 23rd, 2010. I have learned a lot from that thread and I intend on keeping at it until I have finished reading all the posts (at which time I will probably do it again). I keep a list of bookmarks to most important posts and I also make notes (on paper, which is IMO way better than doing it electronically). The people at the J16 thread are very polite and eager to help (which doesn't mean that you can rely on them to give you all the answers, though, you still have to put in a lot of effort to make sense of it all). I still have a lot of stuff that I need to work through so you can be sure that there are more links coming up in the future. I also have a few links on the backburner that are not from the J16 thread but are also about price action. Unfortunately there aren't enough right now so you're going to have to wait until I have enough of them to make another post.

List of abbreviations used throughout the J16 thread http://www.forexfactory.com/showpost...ostcount=56751

Support & Resistance , Price Pivot Zones
Support & Resistance http://www.forexfactory.com/showpost...postcount=1707
What is a PPZ? http://www.forexfactory.com/showpost...ostcount=12729
More on PPZ http://www.forexfactory.com/showpost...ostcount=70992

PPZ = Electrical Wires (this is GOOD)
PPZ & Electrical Wires I http://www.forexfactory.com/showpost...ostcount=70997
PPZ & Electrical Wires II http://www.forexfactory.com/showpost...ostcount=71045
PPZ & Electrical Wires III http://www.forexfactory.com/showpost...ostcount=71047

Location
Location http://www.forexfactory.com/showpost...ostcount=67456
Location & Space http://www.forexfactory.com/showpost...ostcount=71776
Great video on 'space' http://drop.io/cfnoat3 (not a shortened link that leads to spam, trust me )

Breakouts
Breakout with pinbar http://www.forexfactory.com/showpost...ostcount=13456
Breakout, pullback http://www.forexfactory.com/showpost...ostcount=13537

Bearish/Bullish Outside Bars (aka engulfing bars)
BEOB http://www.forexfactory.com/showpost...ostcount=22380
BEOB/BUOB & previous bars' highs/lows I http://www.forexfactory.com/showpost...ostcount=67474
BEOB/BUOB & previous bars' highs/lows II http://www.forexfactory.com/showpost...ostcount=67496
BEOB/BUOB & previous bars' highs/lows III http://www.forexfactory.com/showpost...ostcount=66508
BEOB/BUOB & previous bars' highs/lows IV http://www.forexfactory.com/showpost...ostcount=71944
BEOB/BUOB & previous bars' highs/lows V http://www.forexfactory.com/showpost...ostcount=71996

Pin(occhio) Bars
Some examples of pins http://www.forexfactory.com/showpost...ostcount=70735
Failed PIN http://www.forexfactory.com/showpost...ostcount=15563
Pin bar + trendline http://www.forexfactory.com/showpost...postcount=1544
followup I http://www.forexfactory.com/showpost...postcount=1573
followup II http://www.forexfactory.com/showpost...postcount=1577
Three week pin bar? http://www.forexfactory.com/showpost...ostcount=69797

Why pin bars & inside bars 'work' http://www.forexfactory.com/showpost...ostcount=19711

Inside Bars
Inside bars http://www.forexfactory.com/showpost...&postcount=164
Inside bars, bollinger bands and pin bars (what a combination, eh?) http://www.forexfactory.com/showpost...postcount=1262

Other
This is critical http://www.forexfactory.com/showpost...ostcount=15568
Round Numbers http://www.forexfactory.com/showpost...ostcount=70923

Risk & Expectancy I http://www.forexfactory.com/showpost...ostcount=12509
Risk & Expectancy II http://www.forexfactory.com/showpost...ostcount=13891

Trading with the trend http://www.forexfactory.com/showpost...ostcount=14187
Waiting for a setup http://www.forexfactory.com/showpost...ostcount=69099

*I have no commercial association with the James16 group.
If you don't risk, you don't ever have to lose.
  • #33
  • Sep 4, 2010 10:28am Sep 4, 2010 10:28am
Quoting bug
Price Action Links - James16 Special
I've finally completed the first price action tradings list of links (all links are to posts and thread on FF). I've carefully read through each and every one of them. No link has been posted here by chance.

A few notes on the origin of those links
You will notice that all of those links will direct you to the James16 chart thread. That is not by accident. I have been reading the James16 thread since January 23rd, 2010. I have learned a lot from that thread and I intend on keeping at it until...
Thanks for the Treasure Chest !!!

if i could , i would send u a box of chocolates !!!

  • #34
  • Edited Sep 5, 2010 1:08am Sep 4, 2010 11:07am | Edited Sep 5, 2010 1:08am
just digesting ....

James16 is about :

pin bars (hammer , shooting star )

BEarishOutsideBar (BEOB) and BUllishOutsideBar (BUOB) = engulfing

inside bar (harami)

DBLHC = double low higher close
DBHLC = double high lower close ( = tweezers )

only the above 7 bars (or candles) sitting around support or resistance ... look out for breakout at this s/r and also the subsequent retracement (1-2-3 setup )

walla ! .... this is all there is to what is called Price Action !

for those who are familiar with the above 7 candles .... this is the James16/ price action in a nutshell.

correct my mistake in the above

--------------------------------

(actually I was putting off reading up James16 because i thought it was a very tough course with all the price action thing and my unfamiliarity with the bar notation .. perphaps if they had talked in candlesticks terms it would have been easier for me ... now i know ... and a very big thanks to BUG ! )

--------------------------------
  • #35
  • Sep 5, 2010 7:35am Sep 5, 2010 7:35am
Archer,
with all due respect, if you haven't read the thread (you said it yourself) then you are in no position to claim that the James16 thread is only about a few candle formations. There is much more to it than that. More so than the candles the thread focuses on support & resistance and location. Candle or bar formations are important, but you need to understand that a bar has to appear in a place where it has room to run. Without a favorable location, you can take pin bars/BUOBs/BEOBs all year long but still end up losing money.

I'm sorry to shatter your little illusion but the James16 thread requires working and thinking, it's not as simple as viewing a few charts and then pocketing pips. Quite frankly there is very little you can gain by just trading the formations. Recognizing an FTA (where price might stall) and a PPZ (where price may reverse or break though) are very important pieces of what is taught in the thread.

I would encourage people to have a look at the page count of the James16 thread. Do you really think they need so much space for just 7 bar formations? I don't think so.
If you don't risk, you don't ever have to lose.
  • #36
  • Sep 5, 2010 10:20am Sep 5, 2010 10:20am
Quoting bug
Archer,
with all due respect, if you haven't read the thread (you said it yourself) then you are in no position to claim that the James16 thread is only about a few candle formations. There is much more to it than that. More so than the candles the thread focuses on support & resistance and location. Candle or bar formations are important, but you need to understand that a bar has to appear in a place where it has room to run. Without a favorable location, you can take pin bars/BUOBs/BEOBs all year long but still end up losing money.

I'm...
Sure , I completely agree with u that there is more to it !

My apologise if u find that I was trivialising the James16 concept. On the contrary . Perhaps I should not have included the word ' walla ' , which I believe is that caused me to come across as cynical/simplifying it .

What I was trying to highlight here for beginners like me to James16, who might feel overwhelmed by the bulk of the thread, like u pointed out, that this is the 'helicopter view' , the 'blurp' as in jackets of books …. to give them some 'short-cut' perspective to James16

Sure , the ' God is in the details ' …. any beginner worth his salt is not going to take my word for it but will dig deeper to find out the real James16 , therehence sharpening his understanding of the concept .

I was just sketching the outline from the candlesctick point of view as the bar concept is less used as compared to candlestick charts.

like I said , the above view I took gave me a new perspective to start off with James16

hope this puts the case to rest .


  • #37
  • Sep 5, 2010 10:58am Sep 5, 2010 10:58am
Quoting TheArcher
Perhaps I should not have included the word ' walla ' ,
Perhaps you should explain whether you're trying to say 'Wally' or 'Voilá'.
The dream will never die
  • #38
  • Sep 5, 2010 11:04am Sep 5, 2010 11:04am
That's it. I'm putting up a 11 vouch posting restriction on this thread to keep away posts that don't add value (the 'empty' posts seem to be coming from vouchless posters so there you have it). Don't look for the posts that started this, they've already been deleted.

If you don't have enough vouches but feel that you have something that you absolutely think should be linked via this thread, then hit me a PM.
If you don't risk, you don't ever have to lose.
  • #39
  • Sep 7, 2010 6:22am Sep 7, 2010 6:22am
I know there are quite a few macro guys lurking around here in FF. I have something interesting for you from the BIS:

BIS Quarterly Review, September 2010 Debt reduction after crises (the link takes you straight to the pdf file).

Summary
Financial crises tend to be followed by a protracted period of debt reduction in the nonfinancial private sector. We find that a period of debt reduction followed 17 out of 20 systemic banking crises that were preceded by surges in credit. Debt/GDP ratios fell by an average of 38 percentage points, returning to approximately the levels seen before the increase. If history is any guide, we should expect to see a much more significant reduction in private sector debt, particularly of households, than has so far taken place after the recent crisis. The costs of this process in forgone output are difficult to pin down, but there are reasons to believe that they need not be high provided that the banking sector problems that led to the crisis are fixed.

BTW
Did you know that central bankers tweet? Yeah, that's right. http://twitter.com/BIS_org
If you don't risk, you don't ever have to lose.
  • #40
  • Sep 12, 2010 1:42pm Sep 12, 2010 1:42pm
There were some great interviews on the weekly FSN show this weekend. For anyone out there who is interested in fundamentals for the US, especially the inflation bomb that is ticking away, I would encourage you to download those 3 hours and listen to the guests listed below:

 

  1. Axel Merk (second half of 1st hour)
  2. Laurence Kotlikoff (2nd hour, after Jim Puplava)
  3. Peter Warburton (2nd hour, after Kotlikoff)
  4. John Butler (1st guest on the 3rd hour)

1st hour; 2nd hour; 3rd hour

LINK to website: http://www.financialsense.com/financial-sense-newshour

If you don't risk, you don't ever have to lose.
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