| JoeRoss joined.
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| JoeRoss | Hi everyone |
| da-net | howdy! |
| Joy | Joe: Good evening to you! Hope you have had some time for supper! |
| sprink | Hi Joe hi everyone |
| JoeRoss | Hi Joy: I had a bowl of soup |
| streetsamurai | good evening Joe & All |
| Joy |
Yummy :-) |
| JoeRoss | It was! Loretta makes great soups. |
| Joy |
Woo hoo! Maybe we can get great soup recipes by being good students at the October seminar :-) |
| JoeRoss | She never uses a recipe. Just throws stuff together and it comes out delicious. |
| Joy | Joe: That is even better :) |
| Joy | Joe: In the Euro chat last week and this afternoon, you were teaching some traders about sagging tops and counting consecutive segments without having to shift the segment line. Do you mind telling me in which book did you teach that concept? I’d like to get the book. |
| JoeRoss |
Joy: I don't remember which one. Maybe marsh knows. |
| marsh |
"Trading by the Minute" |
| Joy | THANK YOU Joe and Marsh!! |
| marsh |
and it's update, "Day Trading". |
| marsh | I looked that up yesterday. |
| Joy |
Great! Next one to get :-) Thank you both!! |
| JoeRoss | That's probably the last one I would have mentioned. |
| marsh | There is a nice chart showing it in Day Trading. |
| da-net | Marsh's comment brings up an interesting question...is it possible to have a whiteboard for displaying a chart or hand drawing, etc during these sessions? |
| JoeRoss | da-net: I donj't know of any whiteboard options. |
| Airtime250 |
Hi Everyone. Joe: I was wondering the correct way to use the equity evaluator of the life index. At what point do you start and stop paper trading? |
| JoeRoss |
Airtime: You start paper trading or simulator trading when your equity goes below a moving average of itself. You use real money when you move back above the moving average of your equity. |
| Airtime250 | Do you include Saturdays and Sundays in the data and what is the preferred numer of days to use for a moving average? |
| JoeRoss | Airtime: You include all trades in an omnibus account, whether real or imaginary. You are recording trades, not days. You fit the moving average to your own equity--there is no one-size fits all. |
| Airtime250 | So we should skip the days that there were no profits or losses? It seems to alter the moving average line... |
| JoeRoss | Airtime it has nothing to do with days. You record every trade. If you miss 40 days, the next chart point is the next trade. |
| Airtime250 | THANKS! |
| Joy | Joe: I am enjoying my study of Trading Optures and Futions now. Thank you for the wonderful book! |
| Joy | In the book, you used squeeze play when teaching how to implement a long straddle strategy. |
| Joy | Is it the criteria to have “exactly '4' bar-sideways area” when the squeeze is over before entering the straddle? |
| Joy | I was curious the reason you picked 4 bars, if you don't mind teaching me here. |
| JoeRoss | Joy: What page is it? |
| Joy |
:-) SORRY, let me get the number for you - 1 moment. |
| sprink |
Joe,those silver call options you mentioned in TMC, I asked my broker about them and he could not find them. |
| JoeRoss | sprink: If you mean the ones I wrote about this morning, they were not options. This was a straight stock trade. But my broker didn't have them listed even though it trades on Amex |
| sprink | OK Thanks |
| JoeRoss | The stock also trades on TSE, but I don't have that data. You can find it on Yahoo. |
| sprink |
Thanks Joe, I will start trading stocks and options in July.Thanks again |
| Joy | Joe: The reference is on page 364 on the SI chart. You mentioned the preference of 4 days. There is another reference in another chapter. |
| Joy | If you cannot find the book at present, it is OK - sorry for troubling you :) |
| JoeRoss | Joy I'm looking at it. It can be more than 4 bars but must be at least 4 |
| Joy | Joe: THANK YOU THANK YOU! You are the BEST!! :) |
| Airtime250 | Joe and Sprink: I just brought up SVM on IB's trade platform... |
| JoeRoss | Airtime: But it is not the one on AMEX |
| Airtime250 | It is listed as Stock (AMEX)... |
| JoeRoss | No kidding! All I could find was TSE |
| Airtime250 | Yeh...just popped up. |
| sprink | Thanks |
| JoeRoss |
TSE SVM has options. But no options on AMEX SVM |
| Airtime250 |
This is an outright trade without the use of options? |
| JoeRoss | Airtime: Correct! No use of options |
| streetsamurai |
Joe is it better to buy stocks like SVM in TSE if think dollar is going down? |
| Joy | Joe: You mentioned this afternoon on the Euro chat that you knew people getting burned with option trades on NG. Is it because of the NYMEX market (i.e., the NY Futures market) being crooked in general? |
| JoeRoss | Joy: No. It was just the stupidity of the option traders. NG can be very volatile and move very fast, and the margins are steep. |
| JoeRoss | One guy I know lost $1 million on NG options. |
| Joy | Joe: Oh, my god! WOW! OK... thank you! I understand now. |
| JoeRoss | samurai: I don't know for sure. The stock is Chinese. It may not make any difference if it is bought on TSE or AMEX |
| johngas |
Joe I may come to your seminar in Oct. |
| Joy | Yeah, fellow student! |
| JoeRoss |
johngas: Make up your mind before July 6 so you get the SEMINAR DISCOUNT $500 off. |
| JoeRoss | You are going to learn so much you will burst. |
| johngas | i assume you will cover interesting price action theories not in book... |
| johngas | i love it ! |
| JoeRoss | johngas: No theories. Only the truth. |
| johngas |
of all my strategies for scalping - i think ross hook with TTE the best so far |
| johngas | ok i will register... |
| JoeRoss |
I am really going to dump on you guys. Bring a big container! :-) |
| streetsamurai | great |
| Joy |
YEAH! I am so excited! Cannot wait for October to come quickly :-) |
| JoeRoss | It will fill in a lot of the holes in your knowledge |
| Joy | Joe: If you don't mind, I have another option question: |
| Joy | Is retracement of a trend on a longer-term chart (weekly or monthly) a good place to look for the type of trading range to form on daily chart for "short strangles"? |
| johngas |
i am afraid hole is big :-) |
| JoeRoss | Joy: Yes! It's a good place to look. |
| johngas | will we leave with more strategies ?? |
| JoeRoss | johngas: Yes you will |
| johngas | what are times ? thxs |
| Joy | Joe: Thank you! And thank you for preparing the seminar for us! You are wonderful! |
| johngas | flying in from toronto so need to plan |
| JoeRoss | Dates are October 17/18 Daily start at 0900 finish at 1700 or later. |
| johngas | ok |
| JoeRoss | johngas: Fly home Monday. |
| johngas | right - and hotel ??\ |
| JoeRoss | We have the hotels narrowed down to 3. But haven't made final decision yet. You will be notified. |
| johngas | ok - poifect !! |
| JoeRoss |
There will be a group rate for the rooms |
| Joy |
THANK YOU Joe for taking the time and pain to take care of us :-) |
| streetsamurai |
Joe feel have huge holes to fill anything should do to be prepared |
| JoeRoss | Best preparation is to relax, empty your mind and come prepared to absorb. |
| JoeRoss | good night all. |
| Airtime250 | Thanks Joe, Good Night all |
| JoeRoss left.
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