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The Really Useless Thread

  • #37,301
  • Nov 30, 2011 2:13pm Nov 30, 2011 2:13pm
TP set.

if it gets there, beer's one me
Quoting PayTheLimit
3479, the swing high close..
dreams do come true.
  • #37,302
  • Nov 30, 2011 2:13pm Nov 30, 2011 2:13pm
Quoting kill56
lazy ass bastards do something

through some yards in the dam market
Oh my
  • #37,303
  • Nov 30, 2011 2:13pm Nov 30, 2011 2:13pm
Quoting wannaberich
if we only knew what the next candle would be...

right now i just wanted to know if the next 5m is gonna close below weekly cam H4...
lol yeah.

perfect trading
  • #37,304
  • Nov 30, 2011 2:17pm Nov 30, 2011 2:17pm
Hi Ally,

got the perfect dustbinner running. was aiming for 53 but master PTL says it's going to 79 and the last time i disobeyed him he punished me by taking away my 20 green pips...

Quoting AllyB
Oh my
dreams do come true.
  • #37,305
  • Nov 30, 2011 2:24pm Nov 30, 2011 2:24pm
its camel time

the pipe is out and ready
Attached Images
  • #37,306
  • Nov 30, 2011 2:24pm Nov 30, 2011 2:24pm
Livermore's trading rules:

I'm scratching my head over number 10, but I think it's one of the most important ones...

1 Buy rising stocks and sell falling stocks.
2 Do not trade every day of every year. Trade only when the market is clearly bullish or bearish. Trade in the direction of the general market. If it's rising you should be long, if it's falling you should be short.
3 Co-ordinate your trading activity with pivot points.
4 Only enter a trade after the action of the market confirms your opinion and then enter promptly.
5 Continue with trades that show you a profit, end trades that show a loss.
6 End trades when it is clear that the trend you are profiting from is over.
7 In any sector, trade the leading stock - the one showing the strongest trend.
8 Never average losses by, for example, buying more of a stock that has fallen.
9 Never meet a margin call - get out of the trade.
10 Go long when stocks reach a new high. Sell short when they reach a new low.
  • #37,307
  • Nov 30, 2011 2:25pm Nov 30, 2011 2:25pm
Quoting wannaberich
Hi Ally,

got the perfect dustbinner running. was aiming for 53 but master PTL says it's going to 79 and the last time i disobeyed him he punished me by taking away my 20 green pips...
hi there ... don't know how much time you got but if it were me ... 53 would be a stretch and i would probably settle for 50

sorry PTL
  • #37,308
  • Nov 30, 2011 2:27pm Nov 30, 2011 2:27pm
Quoting AllyB
Oh my

sorry sweet thing did not see u in the room
  • #37,309
  • Nov 30, 2011 2:28pm Nov 30, 2011 2:28pm
Quoting kill56
sorry sweet thing did not see u in the room
no worries good lookin
  • #37,310
  • Nov 30, 2011 2:30pm Nov 30, 2011 2:30pm
Quoting attila
Livermore's trading rules:

I'm scratching my head over number 10, but I think it's one of the most important ones...

1 Buy rising stocks and sell falling stocks.
2 Do not trade every day of every year. Trade only when the market is clearly bullish or bearish. Trade in the direction of the general market. If it's rising you should be long, if it's falling you should be short.
3 Co-ordinate your trading activity with pivot points.
4 Only enter a trade after the action of the market confirms your opinion and then enter promptly.
5 Continue with trades...
[/color]



dam it will a sweet fuck
  • #37,311
  • Nov 30, 2011 2:34pm Nov 30, 2011 2:34pm
Quoting AllyB
hi there ... don't know how much time you got but if it were me ... 53 would be a stretch and i would probably settle for 50

sorry PTL

sure its late...
Look Sharp/Trade Tight
  • #37,312
  • Nov 30, 2011 2:35pm Nov 30, 2011 2:35pm
Quoting kill56
[/color]



dam it will a sweet fuck
Jesse livermore? Isn't that guy really old now?
  • #37,313
  • Nov 30, 2011 2:36pm Nov 30, 2011 2:36pm
Quoting attila
Livermore's trading rules:

I'm scratching my head over number 10, but I think it's one of the most important ones...

1 Buy rising stocks and sell falling stocks.
2 Do not trade every day of every year. Trade only when the market is clearly bullish or bearish. Trade in the direction of the general market. If it's rising you should be long, if it's falling you should be short.
3 Co-ordinate your trading activity with pivot points.
4 Only enter a trade after the action of the market confirms your opinion and then enter promptly.
5 Continue with...
pretty sure he is talking about 52 week highs and lows..and or swing highs/lows, dont have the book infront of me...
Look Sharp/Trade Tight
  • #37,314
  • Nov 30, 2011 2:36pm Nov 30, 2011 2:36pm
Quoting attila
Livermore's trading rules:

I'm scratching my head over number 10, but I think it's one of the most important ones...

1 Buy rising stocks and sell falling stocks.
2 Do not trade every day of every year. Trade only when the market is clearly bullish or bearish. Trade in the direction of the general market. If it's rising you should be long, if it's falling you should be short.
3 Co-ordinate your trading activity with pivot points.
4 Only enter a trade after the action of the market confirms your opinion and then enter promptly.
5 Continue with trades...
It states if the juice is there... or as we would say..... once supply or demand acts accordingly
  • #37,315
  • Nov 30, 2011 2:37pm Nov 30, 2011 2:37pm
Quoting PayTheLimit
sure its late...
i knew you would understand
  • #37,316
  • Nov 30, 2011 2:40pm Nov 30, 2011 2:40pm
Quoting attila
Livermore's trading rules:

I'm scratching my head over number 10, but I think it's one of the most important ones...

1 Buy rising stocks and sell falling stocks.
2 Do not trade every day of every year. Trade only when the market is clearly bullish or bearish. Trade in the direction of the general market. If it's rising you should be long, if it's falling you should be short.
3 Co-ordinate your trading activity with pivot points.
4 Only enter a trade after the action of the market confirms your opinion and then enter promptly.
5 Continue with...
Don't scratch your head. I already did many times before realizing he is talking about individual stocks (not currencies) and to those who are willing to trade 3 to 4 times a year (not 30 to 40 times a day)............ that too about a hundred years ago.
The Thief of Wall Street
  • #37,317
  • Nov 30, 2011 2:40pm Nov 30, 2011 2:40pm
...

Jesse Livermore's Trading Rules (circa 1940)
From here - Livermore Trading Rules

Jesse Livermore’s Trading Rules (written in 1940)

1. Nothing new ever occurs in the business of speculating in stock and commodities.
2. Money cannot be consistently made trading every day or every week during the year.
3. Don’t trust your own opinion or back your judgment until the action of the market itself confirms your opinion.
4. Markets are never wrong – opinions often are.
5. The real money made in speculating has been in commitments showing a profit right from the start.
6. As long as a stock is acting right, and the market is right, do not be in a hurry to take profits.
7. One should never permit speculative ventures to run into investments.
8. The money lost by speculation alone is small compared with the gigantic sums lost by so-called investors who have let their investments ride.
9. Never buy a stock because it has a big decline from its previous high.
10. Never sell a stock because it seems high-priced.
11. I become a buyer as a stock makes a new high on its movement after having had a normal reaction.
12. Never average losses.
13. The human side of every person is the greatest enemy of the average speculator.
14. Wishful thinking must be banished.
15. Big movements take time to develop.
16. It is not good to be too curious about all the reason behind price movements.
17. It is much easier to watch a few than many.
18. If you cannot make money out of the leading active issues, you are not going to make money out of the market as a whole.
19. The leaders of today may not be the leaders of two years from now.
20. Do not become completely bearish or bullish on the whole market because one stock in some particular group has plainly reversed its course from the general trend.
21. Few people ever make money on tips. Beware of inside information. If there was easy money lying around, no one would be forcing it into your pocket.
Look Sharp/Trade Tight
  • #37,318
  • Nov 30, 2011 2:41pm Nov 30, 2011 2:41pm
unless it gets broken.

(the 20 spaced lines are in another chart )
Attached Image (click to enlarge)
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dreams do come true.
  • #37,319
  • Nov 30, 2011 2:42pm Nov 30, 2011 2:42pm
Quoting needpips
It states if the juice is there... or as we would say..... once supply or demand acts accordingly
Yes but we are all to tempted to short at new highs or at least not long in our continuous quest of catching reversals. In effect what we are doing, we're always trading retraces instead of the trend. I know, I know this is a messy discussion and it can be argued both ways, but I tend to agree with Livermore, given his history..
  • #37,320
  • Nov 30, 2011 2:45pm Nov 30, 2011 2:45pm
Quoting Chicky
Don't scratch your head. I already did many times before realizing he is talking about individual stocks (not currencies) and to those who are willing to trade 3 to 4 times a year (not 30 to 40 times a day)............ that too about a hundred years ago.
He was daytrading for smaller moves but I agree the stock market is somehow different, although things are changing there as well..
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