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  • #37,321
  • Nov 30, 2011 2:46pm Nov 30, 2011 2:46pm
headin home.

been reallly nice with u guys.

take care

WBR
dreams do come true.
  • #37,322
  • Nov 30, 2011 2:46pm Nov 30, 2011 2:46pm
Quoting PayTheLimit
pretty sure he is talking about 52 week highs and lows..and or swing highs/lows, dont have the book infront of me...
and he was trading different volumes. he used to push the market one way or another, or at least he tried. The guy was called a 'plunger' for a reason.

I read the book on the plane.. a while back. maybe I am off
  • #37,323
  • Nov 30, 2011 2:50pm Nov 30, 2011 2:50pm
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 also very active in cotton, and corn, wheat and oats...his selling of oats when they where the weakest on the board to cover wheat shorts is a classic..
Look Sharp/Trade Tight
  • #37,324
  • Nov 30, 2011 2:52pm Nov 30, 2011 2:52pm
Quoting attila
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..
I constantly buy at new highs and sell at old lows like Jesse says and I'm constantly getting my ass kicked

Jesse Livermore is the devil
  • #37,325
  • Nov 30, 2011 2:54pm Nov 30, 2011 2:54pm
Quoting darimik
and he was trading different volumes. he used to push the market one way or another, or at least he tried. The guy was called a 'plunger' for a reason.

I read the book on the plane.. a while back. maybe I am off
dont forget he started small...

but yes, he used to buy to sell, and sell to buy at key points..another one of my favorite moves of his, was when he wanted to buy, he sometimes sold first to test the market...
Look Sharp/Trade Tight
  • #37,326
  • Nov 30, 2011 2:55pm Nov 30, 2011 2:55pm
Quoting Wulfgar
I constantly buy at new highs and sell at old lows like Jesse says and I'm constantly getting my ass kicked

Jesse Livermore is the devil
Was a great fan of his, until I found myself.
The Thief of Wall Street
  • #37,327
  • Nov 30, 2011 3:02pm Nov 30, 2011 3:02pm
Quoting PayTheLimit
dont forget he started small...

but yes, he used to buy to sell, and sell to buy at key points..another one of my favorite moves of his, was when he wanted to buy, he sometimes sold first to test the market...
exactly.. that would be a nice thing to do. fire up some lots, see if they struggle eating them
  • #37,328
  • Nov 30, 2011 3:02pm Nov 30, 2011 3:02pm
Quoting Chicky
Was a great fan of his, until I found myself.
I'm a fan of driving off a cliff on days like today
  • #37,329
  • Nov 30, 2011 3:08pm Nov 30, 2011 3:08pm
Q. does saving the EU banks will solve the problem and get the EU zone out of their shitt
  • #37,330
  • Nov 30, 2011 3:09pm Nov 30, 2011 3:09pm
Quoting kill56
Q. does saving the EU banks will solve the problem and get the EU zone out of their shitt
no but it makes for an epic shit storm later
  • #37,331
  • Nov 30, 2011 3:14pm Nov 30, 2011 3:14pm
Quoting Wulfgar
I constantly buy at new highs and sell at old lows like Jesse says and I'm constantly getting my ass kicked

Jesse Livermore is the devil
I know, it's easier said than done.
  • #37,332
  • Nov 30, 2011 3:14pm Nov 30, 2011 3:14pm
Quoting kill56
Q. does saving the EU banks will solve the problem and get the EU zone out of their shitt
for now.. :nerd: [no one knows at this stage]
just gives some more days for trading, speculating;

so, no end of the world..
and that is important.. ..
  • #37,333
  • Nov 30, 2011 3:16pm Nov 30, 2011 3:16pm
short aussie 282
  • #37,334
  • Nov 30, 2011 3:18pm Nov 30, 2011 3:18pm
I just randomly posted that I hope anyone who made money today gets herpes

I want u guys to know anyone in this thread is excluded from that.
  • #37,335
  • Nov 30, 2011 3:19pm Nov 30, 2011 3:19pm
Quoting Piters
for now.. :nerd: [no one knows at this stage]
just gives some more days for trading, speculating;

so, no end of the world..
and that is important.. ..

i dont know but i dont think it will last that long, u cant put gas on fire . what they need is a clear clean water or vodka
  • #37,336
  • Nov 30, 2011 3:20pm Nov 30, 2011 3:20pm
Quoting Wulfgar
I'm a fan of driving off a cliff on days like today
Just dive and leave the car for me.

I have deeply researched on Jesse's method. Also maintained the worksheet like his with all those balck, red colored price levels, underlines, etc. etc. You may like to backtest this one thing which I missed for a long time.

"First reaction of a break is much stronger than subsequent reactions."

He used about 40% reaction as normal reaction and entered in the direction of the trend if a reaction was less than 40%. One may round it off to an appropirate percentage. Use daily chart for this backtest and focus only on major trend-line breaks. See what happens if you let go first reaction and start from the second. But he multiplied his money taking excessive risks backed by 70% to 90% accuracy of judgement involving study of market forces. I don't know if such accuracy is still possible in this volatile market.
The Thief of Wall Street
  • #37,337
  • Nov 30, 2011 3:21pm Nov 30, 2011 3:21pm
Quoting attila
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..
Thats Y he averaged in.... and we have the luxury of SL's and a PC
  • #37,338
  • Nov 30, 2011 3:25pm Nov 30, 2011 3:25pm
Quoting Wulfgar
I'm a fan of driving off a cliff on days like today
This might cheer you up.

Attached Image
  • #37,339
  • Nov 30, 2011 3:25pm Nov 30, 2011 3:25pm
Quoting fxjawn
short aussie 282
with you @ 285
Don't be a hero. Don't have an ego. Always question yourself
  • #37,340
  • Nov 30, 2011 3:26pm Nov 30, 2011 3:26pm
Quoting USD-Bear
with you @ 285
lets fuck up some stops

im just ussing my small fxcm account since oanda takes forever
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