The trouble with old traders that went thru several market phases is that they have seen just about anything.
Everything works once in a while (I used to teach Wyckoff at the CME (along with SHelly Natenberg great options teacher, Ken Shaleen and others). But any one who believes in a Golden Egg or any other Utopia , simply does not understand the market.
It is very humiliating but so it should be (Like the old joke: " I finally found the key to the market and then the SOBs changed the lock on me").
What seems to work, rather amazingly is the simply, idiotic 200 MA, the stupid 50% corrections, The Right hand side concept and Steinhardt buying and selling 1-2% above and below an estabished range. But Even the great Stienhardt was caught by the MeToo girls.
Trading is a tough business and like any great endeavor/challenge/ glory--very few reach the top.
Jesse Livermore wrote rather well about it.
PAR08:03:38 GMT - 06/12/2019
Trump has a point . European interest rates are way too low and Draghi has been manipulating th EURO lower since the day he became ECB president . Draghi has been playing " Sorceres apprentice " and it is all falling apart.
In pure Italian style Draghi will always seek a weaker currency
.Remember the Italian Lira which was in perpetual devaluation . 1 million Lire was not worth too much ?
fwiw, I successfully used a hybrid Gann/Elliott Wave trading system to trade commodities, using hand drawn on weekly purchased chart services many moons ago. Angles(1x, 2x) as support/resistance, with Wave Counts off accending/decending Gann Lines.
Stopped working (to my read) when MoneyManagers slinging OPMoney became a new force in the market---rebourn as the MarKIT(whatever, yeh, whatever WE decide).
People who expect the Smartest Guys in the Room ti clue them into what trades to make....deserve what they Lose.
Like those who regularly read MarkIT Watch for Clues on WOT DA FED Is GOING TO DO.
(yes yes yes The Lips Moved Today...our exclusive Translators are WorkingHard to TRANSLATE.
And the SECRET WORD IS:........remember to scream.
We like to call it AI.
dc CB 06:54:19 GMT - 06/12/2019
IF only it were that simple...Money, Win, Lose.
PAR06:36:39 GMT - 06/12/2019
Trump will do and tweet everything to crash the US markets and get his rate cut .
After multiple bankruptcies he wants free money for the rich.
dc CB 06:27:04 GMT - 06/12/2019
the Other Choice!!!????
place your bets ladies and gentlemen, place your bets
Former Vice President Joe Biden made a campaign promise to “cure” cancer if elected president in 2020 during an event in the state of Iowa on Monday afternoon.
“I’ve worked so hard in my career, that I promise you, if I’m elected president you’re gonna see the single most important thing that changes America, we’re gonna cure cancer,” Biden told supporters in Ottumwa.
haifa ac 05:53:51 GMT - 06/12/2019
Many Gurus (Granville, Bob Prechter....) have cost their followers millions of dollars and they continued to spit their garbage and have followers. News magazines and writers are no different.
Human stupidity is truly infinite.
dc CB 05:43:22 GMT - 06/12/2019
Fun With Covers.
Financial Porn? RupertMurdock and Sons, WSJ, Dow Jones, Barron's, MarketWatch...........people actually trade off that NUZ?
Yeh, we programmed our Algos to react, and then We Tell YOU that it's AI.
dc CB 03:49:57 GMT - 06/12/2019
PAR 18:28 GMT
As Goldman's Michael Cahill writes today, there is never anything really new under the sun, and trade negotiations between the US and China "have so far followed a strikingly similar pattern to the bilateral US-Japan trade dispute" in the early 1980s: in both cases, talks were precipitated by a large bilateral trade imbalance and a perception of an “unfair” advantage, which were exacerbated by new US administrations that pursued tax cuts even as the Federal Reserve was in tightening mode. In another parallel, what began as trade negotiations ultimately sprawled into other areas including market access, government subsidies and currency policy.
For those who were too young, or too stoned, to remember, here is a brief recap of the US-Japan trade conflict.
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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