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Now this is how a real trader does it!
I love the idea of loading up Google minutes before a Fed meeting!
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Emini Futures Part 1 Basics (ES) How to trade Futures
Yes its very basic but hey everyone has to start somewhere right?
Seems to be a good stand up guy. I was following him before I found mtm (and eotpro.com)
E.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I just found out about this blog, and of course, it’s been taken down. This chick is blogging about her last 90 days on earth. After that, she will (if its not a hoax) commit suicide.
Here’s a link to the comments that were left on her blog.
I think you should do it by cutting off your ugly head with a chainsaw.
I hope you get hit by a bus tomorrow, you attention seeking whore :)
Superglue your hands to your head (You’ll understand later)
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I’m putting on my “robe and economist hat” here. The estimate of January Retail Sales just came out at +0.3%, compared to a consensus estimate of -0.3%. Because of this, futures are up sharply this morning, and the terrible, terrible recession of the first two weeks of January, 2008, is but a distant memory (remember how bad that recession was? Now we can look back and laugh…)
Anyway, traders just see the number, see it was a huge bullish upset, and then buybuybuy. I looked at the actual statement, and found this wording in the opening text (emphasis mine):
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $382.9 billion, an increase of 0.3 percent (±0.5%)* from the previous month and 3.9 percent (±0.7%) above January 2007.
Basically, they look at the sales revenue and see if it’s higher than previous months / years. These numbers do NOT take into account changes in prices! With inflation numbers ex-food and energy nearing 0.2 to 0.3%, retail sales barely broke even on a real basis. But just eyeballing the data, it seems that everything dropped or stayed basically the same from the December estimate except:
*Motor Vehicles & Parts Dealers
*Food and Beverage Stores
*Pharmacies and Drug Stores
*Gasoline Stations
*Nonstore Retailers (think Amazon.com) was a smaller player
Gasoline was a big hitter in both a percent change and actual dollar value in the estimate. So basically, if sales were up at all, it’s because people spent more on gas, food (not restaurants as that dropped, but grocery stores) and drugs. Arguably, they spent more, but could have purchased less due to neglecting price changes as stated above. Further, these categories are necessities, and I wouldn’t hang my hat on these leading the way out of a recession. These are defensive purchases, and the discretionary items (like electronics, sporting goods/hobby stores, department stores etc.) are flat or worse.
So buybuybuy! Load up the truck on retailers! The number was up! :p I’m not going to call the recession over just yet. The consumer is still taking blows to the head, and the reported number is not what it seems to be.
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Yep don’t fix what aint broke, chop will still kill this system as it will any other so if you are going to spend time on anything, spend it recognizing when to trade and when not to trade
In the midst of all that cursing, and beating other traders’ down, I found that quote at ET. Of course, I visit for the beat downs!
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
He even does the leg work, and posts it on his twitter page!
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I’ve been using a volatility stop for quite a while now. It helps to keep me on the right side of the action. Another huge benefit is the ability to ride a trend for larger profits.
I still haven’t been able to come up with a reliable way (in advance) to tell me if I should scalp for a few quick points or stay for the larger move. If someone has an answer to that question, I would love to hear it. IMO, the time of day, and key levels hold part of the answer.
On this chart, you can see a standard volatility stop (10,2 - red steps), and the parabolic SAR (black dotted line). I’ve highlighted two areas (blue) that perplex me. In the first instance, the SAR is much farther from the price action than the VS. In the second instance, there isn’t much difference. However, the SAR was actually closer when a good entry point presented itself.
The Parabolic SAR takes longer to catch up, but after a move starts, it seems to lock in more profits. There isn’t as much give back. It may have the added benefit of keeping you out of bad trades. The only problem is that it also keeps you out of decent trades. I may actually keep both on my chart for a few weeks, and see which one I like better. Or I could just go with the SAR, and trade stronger moves. That’s probably the most profitable scenario, but its not as much fun.
Edit: after reading this again, I think this paragraph holds the key.
Wilder’s acceleration factor (AF) is 0.02 for the initial calculation. Thereafter the AF is increased 0.02 every period there is a New High made. If a new high is not made then the AF is not increased from the last SAR. This continues until the AF reaches 0.2. Once the AF reaches 0.2 it stays at that value for all future SAR calculations until the trade is stopped out.
Naturally, if your playing breaks, then you would want to see that a new high/low was made (and that it holds).
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I was around today, (will be gone for most of Wednesday’s session this week). I am still just being lazy, though, and taking those simple continuation plays I mentioned a while back.
What I like about them is that they are pretty localized, so I can get distracted and still look for this setup whenever I am at my screens. I don’t need to know too much about what the markets have done so far. Here are three examples from today. The rules for the setup are outlined in the post from last week. You can see that these are decent examples.
(as I mentioned in the comments yesterday, I did not even make a single trade yesterday… this continuation setup really only happens when the markets are moving smoothly).
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Some days are just easier than others. I have to wonder if it really matters what setup you use. This is one of my prettier layouts (and yes, its gay!)
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Oh, if I had just gone to work in the car business! I’d be banking coin right now. $140,000 if you have 10 or more years of experience and want to forego all future benefits (like anyone in their right mind would count on them!). Um, yes, please!?
GM’s annual loss last year was a record $38.7 billion. If they had just paid all 74,000 UAW workers the $140,000 payout and quit making cars at the beginning of last year, they would have saved $28.3 billion dollars!
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
In this article, it is stated:
More than 30 percent of U.S. homeowners who bought in the last two years owe more on their mortgage than their house is currently worth, a housing market research company said on Tuesday.
The housing market peaked in most U.S. markets in the last two years. Of home buyers in 2006, 39 percent of those with a median 10 percent down payment now have negative home equity similar to 30 percent of those who purchased in 2007, said online company Zillow in its quarterly home value report.
If Zillow, who are notoriously known for hyper-inflating house values says that homeowners are underwater, then things are bad out there! Like I say, Johnny-on-the-spot gets the money, Johnny-come-lately gets the shaft. If you got into and out of the housing “Musical Chairs” game while the music was still going, you made out like a bandit. Sucks to be you if you’re one of the people scrambling to find a chair now.
Look for more people to just walk away from this game in 2008.
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Ladies, don’t forget about March 14th!
And you guys thought I wasn’t romantic.
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Are you ready to trade full-time?
When should you take profits?
I don’t mind kicking someone when they’re down, but I won’t call them gay! Besides, he’s a great trader, so there will be plenty of time for that later.
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