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Inside The Mind Of A Retail Rat
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Inside The Mind Of A Retail Rat

by The MoleAugust 28, 2015

In a column in the Financial Times at the start of the week, former Treasury Secretary Lawrence Summers, whom the Obama Administration passed over to appoint Yellen, argued that it would be folly for the Fed to raise rates. Damn it – this is going to be a boring one again – alright you can do this – this is important, pull yourself together…. Now Ray Dalio, the manager of one of the world’s biggest hedge funds, Bridgewater Associates, has weighed in on the debate… what the fuck does he know…  arguing that the Fed, rather than tightening policy (that is, raising rates), might well end up easing instead—purchasing bonds and pumping money into the financial system ... say what??... a policy known as quantitative easing. (Between 2008 and 2014, the Fed carried out such a policy.) OMG this shit is boring… okay, okay, now we’re getting to the good stuff…

mouse_hamburger

When Dalio’s remarks, which he delivered in a note to clients, were first reported, it appeared that he was suggesting the Fed would back off a rate hike, a move Wall Street had been expecting to take place in September or December. On Tuesday, he published an article on LinkedIn ... who the fuck still uses LinkedIn – snort... , in which he clarified his views. “To be clear, we are not saying that we don’t believe that there will be a tightening before there is an easing,” Dalio wrote. “We are saying that we believe that there will be a big easing before a big tight…

Oh for f…s sake, this is IT! How does this crap even make any sense? Am I supposed to buy stocks here or not, for crying out loud!? Or is gold the way to go? It’s fallen a lot lately – gotta bounce at some point! Man, this shit is a lot harder than I thought… perhaps uncle Cletus was right… I should have just invested in his chicken farm instead of opening that damn TDA account.

Alright, what was that guy again who banked some coin recently? Evil Investor or something [googles] – ahh right – Evil Speculator….. Haa-haa – funny guy … damn his charts are really dark, he must be color blind or something. Bad taste in music too, jeezes… Seems to know what he’s doing tho… What? $49 per month? Is he insane? Who can afford that!!? Alright, we’re done here – let’s see what’s on ZeroHedge today, they sound smart and know a lot of stuff…

2015-08-28_USDJPY_briefing

Pssst… wait… is he gone? Oh good – now, let’s get on with our business. USD/JPY is looking like a juicy long position but not just yet. This is looking WAY too easy and I’m waiting for a drop toward the 100-hour SMA just to screw with everyone a little. Probably worth waiting until Sunday night.

2015-08-28_SI_briefing

Silver – good to go here IMO but I’m taking only a tiny position (0.3R) as it’s been a wild ride lately. 14.2 is your minimum stop, mine is actually a bit below that.

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Don’t go crazy now – easy does it ahead of Jackson Hole and all. So, keep yourself busy – I for one have big plans for this weekend…

Hey, evil is as evil does.

Cheers,


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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  • CandleStickEmUpper

    Lol funny post. Happy Friday. Long nq here.

  • tradingmom

    I love the ratburger pic!

  • https://evilspeculator.com molecool

    😉

  • https://evilspeculator.com molecool

    I really really hope it was Photoshopped.

  • strider

    looks like there’s more meat on the rat than there is on the burger

  • https://evilspeculator.com molecool

    It’s a crisis man – we have to cut corners…

  • https://evilspeculator.com molecool

    Check this out: http://www.businessinsider.com/izettle-raises-60-million-launches-loan-service-advance-2015-8

    “The iZettle Advance service will let customers who use the card reader borrow money against projected future revenues.”

    Yeah, that’s a great idea – what could possibly go wrong?

  • BobbyLow

    There have been similar things going on in the retail arena where I’ve seen many ads from major car dealers on TV that scream ” Bad Credit, Slow Credit, No Credit, If you have $89 and a Job you can buy a new car!”

    WTF, the last time they did this, Banks like Capital One who did massive amounts of shaky car loans had to get bailed out. So here we go again.

  • tristan37

    love the video song choice to start the weekend

  • BobbyLow

    Out of my last short of GBP/JPY at BE. Had a good week and am back to 100% Cash over the weekend.

  • https://evilspeculator.com molecool

    And they’d bail ’em out again next time. This shit will keep happening until people finally wake up and take proper measures.

  • Ronebadger

    Volatility?!?!?! 10pt spread on SPX so far.

  • Darkthirty

    Gotta have a gap fill

  • CandleStickEmUpper

    sold nq. flat now

  • evilasevildoes

    QE 4?

  • Mark Shinnick

    Yeah…looks like the vol crowd is sort of hanging-out to dry in this range….usually doesn’t work out for them.

  • Darkthirty

    gap fill / 786 retrace hit it

  • CandleStickEmUpper

    shorted nq

  • BKXtoZERO

    Bobby thanks for the schooling. I put a trailing stop on half and took half profit on 5$ trade. I am actually kind of embarrassed asking that last question. I’ve been reading here for a long time now and I should “know” this stuff w/out hand holding. This is my first time using trailing stops. Only dollar and % were available. Anyway, nice to have a Bobby Low type result to use this on. Thanks!

  • tomek

    Nice squeeze on /cl. Thanks Mole for pointing it out few days ago!

  • BobbyLow

    I’m really glad that your trade worked out for you. My next suggestion would be that you go back and analyze why you got into this trade in the first place. If I remember correctly, when you first got into the trade, it created a big discussion about calling bottoms, catching falling knives and adding to losing positions etc. So what you might want to do is figure out is was what you did really the correct thing to do even though it turned out ok? And is there anything that you could have done differently?

    The reason why I suggest this is that over the years there have been many times that I have done things wrong and had a positive result. This has hurt me more than helped me because by not correcting these flaws my results were about as inconsistent as they could be.

    Please do not be embarrased for asking a question because as the old saying goes, “the only stupid question is the one that is not asked”.

    Who knew that Oil would have a 17% increase in price in 2 Days? I certainly did not. As a matter of fact I still don’t have a position and I’m not embarrased. By the COB today, the criteria on my Daily Chart would qualify for a long but it being Friday, I’m going to pass. Monday is another day. Over the past few weeks /CL has supposedly hit support a number of times only to fuck most people who played it. Then finally /CL makes a new low and takes off. That’s the way it goes.

    BTW, just for the record, I’m not sure if I’ve ever had an original idea. 🙂 Most of what I’ve learned has been through creating a shitload of self destructive mistakes. I have learned a lot from Mole and the players here at ES. But I’m not done learning. I have to watch what I’m doing every single day because I can revert back to shitty trading at any moment if I allow my old way of thinking back in. Above all, special thanks goes out to Scott who took the time to work with me and make the type of suggestions that were attainable for me to improve my game.

  • Mark Shinnick

    Vols keep wedging; have met objective of Tues close.

  • ridingwaves

    volatility is here to stay for at least 30 days…closed out VNR campaign earlier for R city…

  • Edd

    Awesome! Thanks Bobby.

  • https://evilspeculator.com molecool

    you guy are falling over each other today!

  • BKXtoZERO

    This is where I get into trouble by being here because I knew that too about “trading”, but because I shouldn’t be trading, I looked for “value” and called it “investing”. (with a traders mindset anyway. I’ve read all of your posts about CL and everything else….. in terms of futures protecting you from gaps that day time only markets don’t, about decay in most leveraged vehicles available to little guys. You are right/kind/good to point this out that while it worked, it is still bad trading/investing for a “plan”. For me, if I have an “excuse” it’s that everytime there is volatility I do really well. Every freaking time. It creates opportunity and mis-pricing opportunities. So I strike while the iron is hot. All of you do best with low volatility and in using trend following systems and that is work I still need to do. That kind of tape usually chews me up. I want to devote at least half of my account going forward to more of a trend following approach. Scott was right about being on me for always having the destructive view of trying to find a top or a bottom rather than a middle. That is why I am mostly cash, until I learn this for good. Thanks all. Scott, bash away.

  • CandleStickEmUpper

    Most boring day of the week compared to Monday-Thursday.

  • Mark Shinnick

    Yeah….what doesn’t quite compute is that its getting a bit past-time for the metals to launch.

  • Billabong

    No … some sectors are flying … this is a busy day. Have you decided on Spanish football team to support? RM, Barca , local team, etc…

  • Billabong

    @BL … if you’re around. “Saudi invasion of North Yemen ……” Fill in the rest of the headline … LMAO.

  • Billabong

    For general info if you’re following the money. The large players are moving (moved) into miners … they smell blood. Ichan’s in FCX and Soros has added positions in ABX / ACI / BTU. It looks like they’re trying to generate interest in the mining sector….

  • BobbyLow

    Well OK then. 🙂

  • Mark Shinnick

    Its a pretty darn good inflection point right in here.

  • Scott Phillips

    I’ll bash away alright.

    Why in actual fuck are you still trading?

    There is a perfectly well worn path to wealth.

    1) Stop trading while you are a trading moron. You trade like a moron right now, dumb as a box of hammers. Seriously, my cat trades better than you do!

    2) Build a system or method that suits your personality.

    3) Backtest that system

    4) Forward test that system for small size

    5) Trade for real, monitoring results, with a business plan to back it all up.

    You think you are learning, but you are just cementing stupid emotional habits into your dumb ass brain. Every month you do this you will have to take 3 months to undo the mental conditioning you are giving yourself now.

    Bobby is one of the only real pro traders on this board, and my friend as well. He trades with a small account because he ruined his real accounts by trading before it was time. The tragedy is that he would be earning a fantastic income if he had his original accounts intact.

    You think you are learning doing this dumbass stuff, but all you are doing is guaranteeing that you have even more work to do unlearning all the poor mental habits you are now gaining.

    You have been warned. Poverty is in your future, unless you give it up, and do things properly.

    Imagine your first day at medical school. Would you really break out the scalpel and do some surgery…. even a little surgery?

  • hellbent

    Flat and happy 🙂 Have a good weekend all.

  • Billabong

    Reason for oil going up today …

  • BobbyLow

    After your post, I scanned for oil news and read the highlights of the invasion. Thanks. Something like this was long overdue. Always can count on the ME, or Nigeria or something to shake the tree.

    Have a great weekend. 🙂

  • https://evilspeculator.com molecool

    I’m way too busy to waste my time watching football. Big things are coming – working on getting to the next level. Life is short mate – every day counts.

  • BKXtoZERO

    OK, I will take my 11K in “ill gotten” gains of the last 2 weeks and try to give it back on Monday. I’ll call the broker and see if they can bust the trades if the person on the other side would like their money back.

  • BKXtoZERO

    Bobby can also make the same points with a lot more civility and actually inspire me and discipline me with far better effect than your usual style of communication. I am having a great time in SF and I thought you’d be on the couch w/ your new wife watching Moonstruck…. xxx ooo xxx ooo 🙂 BK

  • phylum

    Interesting thread but what is “R”? 11k is irrelevant.

  • Scott Phillips

    *Sigh*

    When you think making 11K in a few days makes you a good trader – its a sign you don’t know the first thing about what you are doing.

    When you think only about the amount of money you will make, and not how much money you could lose, that is a very dangerous way to trade.

    When you trade without a system it is IMPOSSIBLE to be a long term winner. IMPOSSIBLE means the literal dictionary meaning of the word.

    I’m starting to get that you don’t like being spoken to like you are a moron, but you keep acting like a moron.

    In general we go out of our way to stop people blowing up their accounts here. Quite a few of the long term successful guys got a dose of tough love from Mole, Ivan and myself when they first started and now are solid pros. Bobby, newbfx and others among them.

    You seem absolutely determined to ruin yourself financially, so have at it!

  • https://evilspeculator.com molecool

    That is bullshit and you know it.

  • Edd

    It would seem your desire for attention is greater than your desire for real success. What once was humorous has become embarrassing, childish, and not worthy of the site. Not sure why Scott bothers anymore.

  • newbfxtrader

    I think being profitable doing the wrong things like catching bottoms are worse because it takes a lot more to turn the head right.

  • newbfxtrader

    That would not be useful. Haven’t seen you post any charts. Post charts. Put your levels out in the open. I think there is a way you can trade tops and bottoms as long as you are willing to flip if it goes against you.

  • BobbyLow

    Thanks for the compliment BKX. People here at ES try to motivate using different styles and that’s what makes this place so interesting.

    I don’t want to go into another long winded story but I began trading in 1998. In hindsight, I wish I had someone slap me upside the head right away. I kicked ass in the markets shortly after I began because “it was so easy that a caveman could do it”. I’ll leave the history part to – after reality set in, I went down for the count a number of times.

    Speaking of motivation, it was Mole who was the first one to slap me upside my head back around 2009. I was constantly bitching and complaining about how the big guys were fucking us all and blaming all the wrong things for my not doing well. Mole told me to “Shut the Fuck Up and Take a Few Days Off”. I was crushed. After all, by that time I had 11 Years “experience” and who was he to talk to me that way?

    After a short hiatus, I realized that I had 11 Years of “experience” doing wrong things and emotion was my biggest offender. Please believe me. It DOES take many more years than one might think to undue each year of bad trading. I can attest to that.

    I communicated with Scott via Email and Skype for the better part of a year. I was and still am constantly amazed that there is this guy who I might not ever meet in person and lives over 9,000 Miles away with a trading account the size that I could only dream about who genuinely wants me to do well. You might not think so but I believe that Scott wants you do do well and avoid a lot of the bad stuff we had to go through.

    IMO, the bottom line is that if Scott, Mole or anyone here including myself offer advice to anyone regarding trading, it is to help. A lot of us know how painful it is to blow up an account. Some of us might use a soft approach to try different things while others might yell at you get on another road because there is danger ahead. But either way, the message is the same.

  • BKXtoZERO

    I’ve always had a sense of humour about everything I do, even in tough situations but I’ll respect that this board is a pretty serious place from now on if I post much at all. I didn’t post trades. I used to, but I was told to stop trading so…… that was it for that. I still think in terms of %, TVIX was 50% gain, and UWTI was a 30% gain. Sine you are interested I also bought some USLV on Friday and not so much because Mole recommended it as a set up but because I’ve been watching silver for quite a while myself and it also looked good to my lens.

  • BKXtoZERO

    Hey Scott, I do know/accept that you care or you would not have even bothered. I have a sense of humour about things and this probably isn’t the best place for that. No, I don’t think I am a great trader…. not at all. I do know myself and my own style and I hated to see rare opportunities go to waste so I took it and it was fabulous. I have indeed changed much about how I “trade” and it has really helped. You guys are 100% intense and perfectly aligned and that is good and I totally respect that. This winter I am going to start the hard work of starting a system, then perhaps I’ll post more.

  • diswe

    Hope you all doing good. Been 4 months since i shared my equity curve / results with you. Here is the third quater update. This is my equity curve since 2014 untill today. I belive its about 1600 trades. I managed to nail this entire Bearish move lately. 21 months of trading = 174 %. Bank fees/ courtage about 30% so without those the results would have been about 200%. I have get my old game back- moore smooth curve. Wish you all a good weekend. Greetings from Sweden.

  • diswe

    The reason i was heavily loaded with bear positions is the BollingersBands on the weekly SPX, a larger move was indicated…. Tight BB…

  • Scott Phillips

    Well done mate, you have been missed 🙂

  • diswe

    Thx mate…This time i managed to let the winner run, the entire move. But i have to work on the risk, i am not happy with this crap. To much volitility..

  • diswe

    Mate, a couple of months ago you told me that you belived i could do 100 % a year, this 1 is for you 🙂

  • hellbent

    Cool. I joined roughly when you last posted. They speak volumes eh? A win is a win though – awesome.

  • diswe

    THX 🙂 Bear X -10…

  • hellbent

    Fuck bulls and bears. I want to be a hogsta!

  • Scott Phillips

    You are exactly right, and it is very easily to become subconsciously patterned to early styles of trading.

    This is what happened to TK at slope, his early successes were on the bear side, now he has constructed an elaborate fantasy complete with cheerleaders and community where bulls are “welfare queens of capitalism” and bears are “doing God’s work”. He finds it unthinkable to go long. It’s very easy to get patterned on the counter trend side since there is the most ego boost there, and you are to be congratulated for becoming a fine trend trader, which is emotionally difficult but more profitable.

    It took me YEARS to undo the damage I had done to my subconscious through poor early trading (I was magnetically attracted to top picking). I thought this was just a right of passage. Then I saw Van Tharp’s guys, who signed an agreement when they joined his crew, to stop trading until they finished his course (most took 2-4 years to do it). Most of them spent a year getting their mind right before even starting to learn tape reading, and another year on the goals of their system, and another year on the actual system!

    Imagine, treating trading as a profession to be learned over years, like engineering, or law! BKX, think a moment on the arrogance it would take to walk into a law office and pretend to be a senior litigator, or an architect, or a surgeon, after doing some googling and reading a few books, maybe copying the style of someone else whose blog you read?

    What I saw from Van’s guys was that their tape reading ability was way behind most of the good guys here. And yet, their systems were very very good, and EVERY ONE OF THEM, WITHOUT EXCEPTION, became profitable pro traders. He had a 100% success rate of not blowing up students (and Van personally is kind of a dickhead btw). Every single one of Van’s super traders were better, objectively, than BOTH Mole and I in October 2013 (although we have both come a long way since then, and we are probably both somewhere in the acceptable range by his standards now).

    The moral of the story is that blowing up accounts is traumatic, its a truly awful experience. It takes some years to recover emotionally from feeling like a loser/trading abuser…. and you can avoid all of this by the simple mechanism of not trading until you know what you are doing.

    Ivan observes that taking a year to prepare before trading improves the odds of eventual success out of sight. If you are unwilling to do something which virtually guarantees long term success, you owe it to yourself to ask… why?

    Why am I acting stupid?
    What do I gain from this?
    What is driving me?
    Why can’t I stop?
    Does this behaviour have the characteristic of addiction?

  • Scott Phillips

    I’d be very surprised if you don’t do 100% per year. The only caution I have right now is that we are entering a new and different market phase, its time to develop new methods of banking profits in this higher volatility environment.

    I think the odds are high that we experience something akin to 2008 in the near future, with massive rips to the upside and downside.

  • diswe

    I prefer this kind of market. This entire 2015 European markets were disconected from the SPX. SPX was moving sideways while Europe Indexes were movin higher. Now we are back in sync.

  • Scott Phillips

    “it’s that everytime there is volatility I do really well. Every freaking time. It creates opportunity and mis-pricing opportunities. So I strike while the iron is hot. All of you do best with low volatility and in using trend following systems and that is work I still need to do”

    Complete and utter shit. My systems personally do best in higher volatility environments. So do Mole’s, and Skynards. Rationalising a few lucky wins to your courage and ability to “strike while the iron is hot” is extremely unhelpful, giving yourself emotional attaboys for doing the wrong thing. Volatility does NOT provide mispricing opportunities, you couldn’t be more wrong about that. “Courage” is helpful in most business disciplines, especially entrepreneurship, but extremely hazardous in trading. Be a coward. Survive.

    Your idea that you have some kind of innate skill in high volatility environments is stupid. You don’t have any kind of trading skill, in any way shape or form, at all, in the smallest degree.

  • Edd

    There is nothing I can add to what BL has said to you. My experience is exactly the same in life as Bobby`s. My age is such I doubt I will have enough time left to undo the damage that I did to my accounts. I took to heart the lessons I have learned here and elsewhere. A few years ago I was a beneficiary of a week long lesson that Scott provided on the basics of system building in Moles absence. I printed out a backup copy to a backup copy which is an inch thick. The cost to me was FREE. Frickin free. I made a concerted effort to apply the lessons slowly, methodically, and with discipline. I will never, ever be able to repay to Scott the difference his efforts made in my trading endeavors. I have since built systems myself in various timeframes using a variety of vehicles. It is not hard but does require time and effort.
    You have expressed repeatedly your lack of time to be able to do any of the real work required. I see a continual stream of participation coming from you here which requires much time and effort. You recently had the time to post pictures of yourself and your bikes. You had the time to talk back and forth about your hobby. I went back and looked while you were doing that I was steadily trading on the 5 min chart with one vehicle and the 10 min with another. Many, many hundreds of dollars of gains were booked in that time span. This has now become a typical day for me with consistent results.
    I spent a grand total of twenty minutes putting together a rough and simplistic “system” to trade oil long and short on a daily basis just to show you how you too could start to do the work for yourself. You acknowledged with thanks and yet have still to do anything for yourself.
    Your trading/ investing sounds more like your interest in bikes. Thus it is more a hobby, than a disciplined business. I would not spend another minute of my life in discourse with you, yet I really do care. I hate to see someone lie to themselves, and cheat themselves from taking advantage of opportunity. I hate seeing Scott burn up his time and energy this way. I look for his sharing of knowledge and insight rather than trying to repeatedly get you going in the right direction. It really is simple. Either do or don`t do.
    I promise I will not comment to you again. I do not mean to sound condescending or insulting. I have been where you are and I am no longer there because I have chosen to do all of the things Scott has told you to do. I do wish you the best in your journey. Maybe this just isn`t your game.

  • Scott Phillips

    Well said 🙂

    FYI I am a competitive powerlifter, and the former Mr Olympia Ronnie Coleman has a famous saying “Everybody wants to be a bodybuilder – but nobody wants to lift no big-ass weights!”

    Everybody wants to be a trader, nobody wants to do the work!

  • Edd

    I believe it was Winston Churchill who went before a graduation ceremony once, and his entire speech was – “Never, ever, never quit”. With that he turned and walked off the stage. Thank you Scott.

  • Scott Phillips

    Bollinger bandwidth constriction is a highly reliable and repeatable edge. Many fine systems are based around this

  • BKXtoZERO

    OK thanks. You gave me a basic idea, and I am thankful, there is still money management/rules/backtesting etc. I check in during work, I am not on here all day. I work 9 hour days.This WILL take me quite a while. I will start this winter after 2 more doctor visits for nasal stuff and housework and will be quiet as a rat til then. Thanks. I get it. see you then.

  • BKXtoZERO

    Love you but disagree on some of this. Is is indeed every freaking time in the last 8 years or so. Not just stocks, nailed other trades in bonds, metals oil. Then, steady managed tape ripped me up after each one though which was dumb because I knew this. That was indeed dumb. Most everything else is painfully accurate and accepted….

  • Scott Phillips

    Was that buyers had more conviction than sellers, forcing shorts to cover starting a positive feedback loop causing more trend following shorts to cover, which drove the price higher, causing even more shorts to cover.

  • Scott Phillips

    Wheeeeee! This slide is FUN!

  • Scott Phillips

    I’m extremely grateful that I was able to be of some small benefit to you 🙂 But keep in mind that all the work was yours, and the results are due to your own hard work.

    Now you are a professional!

  • Scott Phillips

    For those who don’t know me IRL – this is me at training yesterday setting an unofficial world record in my division (over 40’s under 100kg weight) for the deadlift, at 290kg/638lb

    https://www.youtube.com/watch?v=wkTnBn24J_4

  • diswe

    290 kg !!! What an animal 🙂 Such power. In Serbia there is a saying : so strong you could rip out bulls tail .

  • Scott Phillips

    Next week at the competition I go for 300kg.

    Current records held by this guy (no joke)

    https://www.youtube.com/watch?v=I2U-577x4DU

  • Richard Foster

    Scott,
    Edd mentioned in the thread above that you had provided some lessons on system building.
    As a new face around here I don’t know if this was via posts on the blog here or another source. Would it be possible to see this information?

    I could really use some help with systems… I need to get my self away from the tendency I seem to be developing of firing loose bullets, before I do some real damage.
    Thanks in advance.

  • mugabe
  • tomek

    Congratulations!. Nice lift Scott, didn’t look like you had much trouble with that pull and could have prob done another rep or two, so that 300 will be mostly a mental challenge/hurdle. Physically you’re in the 300+ club. Excellent job- update with the official result next week.

  • newbfxtrader

    Damn dude!

  • mugabe

    lift – excellent; slapping around the face – awesome 🙂 (bit like what you do to some punters here)

  • studentbill

    When I used to deadlift I would get lightheaded and see stars well before my muscles gave out. Stopped doing it because I didn’t want to passout. Nice work.

  • BKXtoZERO

    I wouldn’t ever want to see you coming after me in person so I realized the error of my ways last night after reflection on not only your post, but Ed/ others, and will stick to system based questions if any and start work on mine. Never thought anything bad of you whatsoever. Still don’t. Tried to find humor in tough situation is all. Hope you enjoy life w/ your new gal.

  • hellbent

    Any gap traders out there?

  • hellbent

    Head and shoulders… pffft 🙂

  • mugabe

    Peter Brandt has made 40% a year over a period of 30 years …
    Lots of ways of doing this.

  • hellbent

    Watching the aussie.

  • hellbent

    Cant argue with success 🙂

  • https://evilspeculator.com molecool

    hehe 😉

  • https://evilspeculator.com molecool

    Seems like you are running a volatility based system. Well, you did pick a good time for that.

  • hellbent

    Very small long for practice. MT4 allows bid and ask price on chart. Anyone know if NT can do that? Using the DOM seems a bit silly if if there is no depth data…

  • https://evilspeculator.com molecool

    Sounds good at first sight – like turning $100k into $140k in one year. The problem is that very few of you guys ever consider compounding. So fuck 40% – let’s say it’s just 20% per year and you do that over 30 years on average. See the table below – THAT is how true fortunes are made. And this is the very difference between upper class children and the rest of you alley cats – they are taught how to let money work for you from an early age, while the rest of us are being taught how to accrue debt and to turn ourselves into worker bees.

  • https://evilspeculator.com molecool

    See – that is $23 Million with a starting capital of $100k, assuming only 20% per year. So if you start at 20 years old and your parents had the foresight to turn $10k into $100k while you grew up then you basically are ready to retire by the tie you’re 50. Assuming you don’t touch the money ever and let it work for you.

    Is this really out of reach? 20% per year on average? I really don’t think so.

  • https://evilspeculator.com molecool

    Sure – you can set the chart to the ask if you want.

  • hellbent

    I mean to show both bid and ask… No spread data anywhere to be found except for the DOM so far as I can see. MT4 will plot ask and show another line for bid which is great

  • https://evilspeculator.com molecool

    Yes, I love math – and I’ll never forgive my f…ing parents for not teaching me this stuff when I was a young kid. If you are a parent then I ask you to sit down with your kids and show them this graph. It may change their life a lot more than you can imagine.

  • https://evilspeculator.com molecool

    I coded my own indicator for NinjaTrader that does that – it’s not very hard.

  • https://evilspeculator.com molecool

    Here’s a snapshot of Scalpius running against the AUDUSD. Right now you could drive a truck through that spread which is why it’s flagging red – meaning my strategy won’t be taking entries. Each of my symbols is being filtered this way as I don’t want them to enter on joke spreads…

  • https://evilspeculator.com molecool

    I told him to tell whoever is filming to hold the damn phone sideways next time.

  • mugabe

    nice clean chart – what happened?

  • https://evilspeculator.com molecool
  • hellbent

    Cool. I’ll get on it.

  • mugabe

    is that the bernie madoff speadsheet?

  • hellbent

    Exactly!

  • https://evilspeculator.com molecool

    Do the math yourself – it’s simple algebra.

  • https://evilspeculator.com molecool

    I’m slipping…

  • https://evilspeculator.com molecool

    Attaboy

  • https://evilspeculator.com molecool

    It’s very empowering to build your own tools. I highly recommend it. A lot of pain and frustration in the beginning but then it becomes like breathing. You got an idea or need a tool – you just go and build it.

  • hellbent

    That’s what I’m aiming for

  • https://evilspeculator.com molecool

    Aim high – have pheasant for dinner 🙂

  • hellbent

    🙂 and Hogsta’s!

  • hellbent

    Stopped for nix. Good exercise. Few more items on the to do list.

  • hellbent

    Anyone got an ETA for NT8 yet?

  • mugabe

    exponential, watson

  • https://evilspeculator.com molecool

    The beta is out but they are far from releasing the final version. I’d say before summer 2016 most likely but don’t call me on that.

  • hellbent

    Thanks. I’ll keep ‘personalising’ and muttering then.

    I miss the simple concept of tabs for charts the most!

    AND being able to see my last closed trade at a glance…

    The list goes on….

  • Ronebadger

    Why is almost every cell phone video vertical?!? I guess it’s just easier to hold? I don’t get it.

  • Richard Foster

    There’s a nice take on this idea which sticks in the mind of youngsters and the financially unimaginative…

    “Which would you rather have a million bucks on the 1st of the month or a penny which is doubled the next day, then doubled again each day, until the end of the month?”

    You can guess the result, but most people (who have never considered compounding) are staggered by it.

  • https://evilspeculator.com molecool

    ( ( ( ) *
    ) ) ) ) ) ) ( /( ( ` ( * )
    (()/( (()/( ( (()/( )()) )))( ( ) ` ) /(
    /(_)) /(_))) /(_))((_) ((_)() ) ((((_)( ( )(_))
    (_))_|(_)) ((_) (_)) _((_) (_()((_)((_) ) _ ) (_(_())
    | |_ | _ | __|/ __| | || | | / || __|(_)_(_)|_ _|
    | __| | /| _| __ | __ | | |/| || _| / _ | |
    |_| |_|_|___||___/ |_||_| |_| |_||___|/_/ _ |_|

    No rat on the menu today 😉