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  • #313,861
  • Oct 26, 2010 4:23am Oct 26, 2010 4:23am
Quoting paul1
To any newer traders I highly recommend the book "reminiscence of a stock trader "
After reading that I came to the conclusion.
The market is like water ,not dangerous just does it's natural thing.
The danger is the piranhas and sharks that swim in it.
Honestly read that book the things that go on started at the turn of the century around the year 1900.
The big dogs are probably more sophiticated now but generally the methods they use are basically the same.

As i have just used his method to trade that news . anyone reading my posts can see...
Is that Jesse Livermore? If I remember correctly the right name is reminiscences of a stock operator, no?
Anyway, awesome book, I also try to think the same way in my trading.
Good point,
Alex
If only I knew then what I know now...
  • #313,862
  • Oct 26, 2010 4:24am Oct 26, 2010 4:24am
Ok hatch, lets go down the purple road, it will turn my 60/15 negative, but then I'll just be looking for short plays...
Look Sharp/Trade Tight
  • #313,863
  • Oct 26, 2010 4:26am Oct 26, 2010 4:26am
Quoting PayTheLimit
Ok hatch, lets go down the purple road, it will turn my 60/15 negative, but then I'll just be looking for short plays...
it's a kind of crossroads, not an easy turn, but once we settled, let's roll
  • #313,864
  • Oct 26, 2010 4:27am Oct 26, 2010 4:27am
if it goes below 3905 I will look for short
  • #313,865
  • Oct 26, 2010 4:31am Oct 26, 2010 4:31am
Quoting Alexgee
Is that Jesse Livermore? If I remember correctly the right name is reminiscences of a stock operator, no?
Anyway, awesome book, I also try to think the same way in my trading.
Good point,
Alex
Yes you are correct I got a bad memory sorry.

Just like to add as per his book , i just heard on sky television that the british pound is up against the dollar. Cool britain must be doing great ehh?
Didn't hear any news last week when it dropped to about 1.5700 ?
Funny that, are we being manipulated as is mentioned in the book , well i certainly seem to be seeing proof and see the markets totally different now,I cant thank the author enough .

I truly hope you all benefit too.
making green pips large and red pips small this is my goal.
  • #313,866
  • Oct 26, 2010 4:31am Oct 26, 2010 4:31am
fighting the move going long 3927
I SEE YOU !!
  • #313,867
  • Oct 26, 2010 4:32am Oct 26, 2010 4:32am
could bounce up considering the weak down move on 5min tf.. bears had it ruff getting here....
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  • #313,868
  • Oct 26, 2010 4:34am Oct 26, 2010 4:34am
Quoting dbfusion
fighting the move going long 3927
Perhaps a little early ... let's see.
Don't just be a sheep : make your own idea of it.
  • #313,869
  • Oct 26, 2010 4:34am Oct 26, 2010 4:34am
i will wait for a bounce off of weekly pivot, which is right above daily s1 in 3900 area for an entrance.
  • #313,870
  • Oct 26, 2010 4:35am Oct 26, 2010 4:35am
Quoting PayTheLimit
My 1min just turned red...whatever the hell that means...maybe a test of 3920/22?

why dont I just sell when it turns red...., 3908/3910 more support below
Look Sharp/Trade Tight
  • #313,871
  • Oct 26, 2010 4:36am Oct 26, 2010 4:36am
thats the guy that made millions lost millions made some more millions and lost it all and then comitted suicide.

Quoting Alexgee
Is that Jesse Livermore? If I remember correctly the right name is reminiscences of a stock operator, no?
Anyway, awesome book, I also try to think the same way in my trading.
Good point,
Alex
  • #313,872
  • Oct 26, 2010 4:36am Oct 26, 2010 4:36am
Quoting PayTheLimit
why dont I just sell when it turns red...., 3908/3910 more support below
because you are cautious and wise not to do so just here

btw: india is reported to buy here. look at gu ;-)
  • #313,873
  • Oct 26, 2010 4:37am Oct 26, 2010 4:37am
candle close below 3922 should take us to 3856
  • #313,874
  • Oct 26, 2010 4:40am Oct 26, 2010 4:40am
Quoting Mr Hatch
because you are cautious and wise not to do so just here

btw: india is reported to buy here. look at gu ;-)
your right, important levels down here both on 60min and 15min..I'll watch from the sideliness some more...
Look Sharp/Trade Tight
  • #313,875
  • Oct 26, 2010 4:45am Oct 26, 2010 4:45am
Quoting DrLobo
thats the guy that made millions lost millions made some more millions and lost it all and then comitted suicide.
Lol when you say it like that its funny,


But what is in the book is invaluable to me.

If you apply what warren buffet said which i also thought important but unfortunately the poor jesse livermoor did not apply is :-
"DONT RISK WHAT YOU NEED FOR SOMETHING FOR WHICH YOU DONT NEED"
" DOES IT MATTER IF THEY WRITE WHEN YOU DIE THAT YOU HAD 100 MILLION OR 11O MILLION ?"
I found the latter funny but true.
making green pips large and red pips small this is my goal.
  • #313,876
  • Oct 26, 2010 4:46am Oct 26, 2010 4:46am
3948/50 s/b resistance on any bounce now me thinks...
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Look Sharp/Trade Tight
  • #313,877
  • Oct 26, 2010 4:48am Oct 26, 2010 4:48am
Quoting DrLobo
I used a martitangle system to get me out of th mess, I doubled up on my short position at 3960 and just exited both trades with profit. Martingale is dangerous but can work ok in ranging market and if you expose only a small percentage of your account in the process.
same here.. however i'll stop at bep, and try to find a new direction from there... always watch the retrace point with pattern and fibonaci numbers for exit target.
  • #313,878
  • Oct 26, 2010 4:49am Oct 26, 2010 4:49am
short as close to 40 as i can get.
making green pips large and red pips small this is my goal.
  • #313,879
  • Oct 26, 2010 4:51am Oct 26, 2010 4:51am
take care if you want to short around here.
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  • #313,880
  • Oct 26, 2010 4:55am Oct 26, 2010 4:55am
Quoting Mr Hatch
take care if you want to short around here.
Excellent head an shoulders lets see.
making green pips large and red pips small this is my goal.
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