Thursday, June 14, 2007

Day trading and staying out of trouble in river city


Well the first bar trade works just fine.....the market popped out and took off then had the three little indians.....pullback and then it happened....the worst thing a daytrader faces.......CRAPOLA....first you don't know it's CRAPOLA until you have given it all back trying to either go long and get stopped out OR...go short and get stopped out and soon you are "TICKED OFF". Your lagging indicator is still giving you that "magic" secret setup and by the time you get in....it's over. Then you get another setup.....and you don't wait for the dang thing to trigger you just go in....and get hammered again. Does this sound close to home????

Have you ever looked at the trin? Well, I would read up on this subject when you have time because there are three zones.......SELLERS, BUYERS and CRAPOLA. Anything between .80 and 1.20 is CRAPOLA....but more important is take a look at the ema on the trin......it's FLAT....that is the tell tale of this idea. At least by 11:30 or 12:00pm at the latest you can see the market is CRAPOLA. What do you do?

Pick the crap up around your office, give the dog a bath, wash your car, make your loving wife dinner or just take a nap. But don't run thru the house naked with a sharp knife in your hands or click your mouse on your desktop to make money.

9 comments:

Stacey Burke said...

This is a great blog site. Thank you for your sharing. Your home is awe inspiring to say the least. If you dont mind me asking, I am curious have you made all of your money as trader?
Thank you.
Stacey

Jason said...

crapola worked out very well for me, just scalping the range in the ES

PianoMon said...

I hear, in the back of my head, Kenny Rogers singing, "You got to know when to hold'em, when to fold'em and to scalp away".

PianoMon said...

I didn't make all my money trading, we had a yard sale last weekend and I picked up $84.70 after spliting with the wife. Of course, I had to buy lunch but money is money.

I have always been my own man so to speak, owning working and so on. But when I found my secret sauce, WELL, the rest has been history.

SO YES, 99.3% thru trading stocks, bonds and futures.,

Stacey Burke said...

Thanks for your reply. Just curious how did you become involved in trading and how long have you been trading for?
Thanks
Stacey

Anonymous said...

Dennis,

Have any good place where to read up on the TRIN?

Thanks,
MarioM

Jason said...

what do you suggest for your non working capital?... like long term investing type stuff with $ that is just laying, do you move it every now and then you just put in somthing and leave it, i got the day trading thing down , but longer term... im clueless.

Anonymous said...

hi dennis
maybe you need to be one of ist 30 people to signup, to get the special sauce(via tw cci traders) at only $150 for the year instead of $150 per month.
so hurry hurry before the deal is gone.........

PianoMon said...

TRADING: Involved in trading stock for 35 years.....indexes and so on...since 1996.

TRIN: There is a book from Dick Arms who is chap who came up with it I believe...you could start here....
http://find.thestreet.com/cgi-bin/texis/rmauthor/?au=A1280348

CLUELESS ON LONG TERM: I would wait for the real estate market to bottom out and invest there. The word would be FORECLOSURES!!!

TW CCI TRADER: If it is helping you and he is straight up about it then I would sign up. If it's crap, you're losing money and he is playing game..WELL, there are a few of those around but without me being involved.