Chat with Joe Ross
U.S. Chat log from: Wednesday, June 24, 2009
Live Chat with Joe starts Wednesday at 8.00 PM U.S. Central Time! |
| JoeRoss joined. | |
| JoeRoss | Good evening |
| streetsamurai | good evening |
| limasierra88 | Good evening, I thought for a bit I had mixed up Aug 5 & 12 with tonight |
| JoeRoss | Well I'm glad you made it :) |
| limasierra88 | Hi Joy, now we're joyous |
| Joy | Joe: Good evening to you! I am sorry it was taking a long time for the chat java window to load and I am late. |
| limasierra88 | That you're here, of course |
| Joy | Hi limasierra: THANK YOU! That is so nice of you :) Good to see you too! |
| JoeRoss | We may be the only ones here tonight |
| Joy | Joe: Maybe others also have problem loading the chat. |
| limasierra88 | No problem here with loading |
| JoeRoss | Joy: Anything is possible. You will have to keep it lively or I'll fall asleep. |
| streetsamurai | when starting to day trade what is best to start with for learning e-mini? |
| Joy | Joe: You are so fun! :) I hope you had a nice afternoon and took a nap. |
| limasierra88 | Where is that button for the sound panel? |
| JoeRoss | Our new German seminar site is now online: http://te-seminare.de/ |
| Joy | limasierra: You are funny :) |
| JoeRoss | samurai: The best way to start is with a lot of money. |
| limasierra88 | Do you speak German, Joe? |
| JoeRoss | lim: there is no sound. That is because you wouldn't want to hear me snoring |
| Joy | Joe: I saw on the national news today reported from Austin that Texas facing extreme drought and many may have to endure water restrictions. I hope your garden is doing OK. |
| limasierra88 | Maybe we can get that on Cramer's sound panel. |
| JoeRoss | nein, ich spreche kein Deutsch |
| Joy | limasierra: :) Not Cramer's... |
| limasierra88 | Beats booyah in my book |
| JoeRoss | Joy: except for a few things, my garden is burned to a crisp. |
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| Joy | Joe: Oh no... I am so sorry! I will pray for rain for you and Texas! |
| limasierra88 | Ditto for further south in TX, we have about 50% of normal rainfall 5.5 inches so far for the year. |
| Joy | lima: Oh dear! Rain for all of you! |
| JoeRoss | We are really down. It would take weeks of rain to get us back to normal. The lake nearby is so low, you can almost walk across. |
| limasierra88 | Thanks for the kind thoughts. Someday our rain will come. |
| Joy | Joe: WOW! |
| JoeRoss | The worst part is that's where we get our water from |
| Joy | There is some kind of water bill passed today on Senate? |
| Joy | marsh: Hello! |
| JoeRoss | People are letting their lawns and gardens die. |
| marsh | hi joe |
| marsh | hi joy |
| Joy | Joe: I hope the live animals are doing OK. I bet the Cotton Futures is rising for this! |
| limasierra88 | We're a bit better off reservoir-wise, due to the hurricane last year. |
| limasierra88 | Cotton crop was bad down here. |
| limasierra88 | Is, I should say |
| JoeRoss | hi marsh |
| Joy | Joe: I read you mentioned recently in the Forum that "True chartists in the old days used logarithmic charts." Do you use logarithmic charts? |
| limasierra88 | SOL - snoring out loud |
| JoeRoss | Joy: the guy in the forum was lucky that I even knew how to spell logarithmic charts. |
| Joy | Joe: LOL! You are too funny! THANK YOU!! |
| iso | Hi Joe… I’m confused about the TTE. When taking the TTE, the #2 point hasn’t been taking out yet, so at that point the “trend” hasn’t changed, correct? I am asking because as I go over my trades and look at the TTEs that don’t work I am noticing that I am fighting the trend. Any ideas on that? |
| JoeRoss | iso: correct. trend not changed. Ideas? choose the ones that do work :) only kidding. I would have to see what's happening in order to answer that. |
| iso | :) |
| JoeRoss | iso: are you coming to the seminar in October? |
| iso | i just saw it, yes I would love to, I was thinking of private coaching but maybe I will do the seminar first |
| Joy | iso: If you come, we can be classmates :) That will be fun to see our Chat friends in person learning from Joe! |
| JoeRoss | Hurry iso, you can still get the discount for the next 2 days. |
| iso | great, i will |
| Joy | Joe: You also wrote about the upcoming change for FOREX traders in the Forum. That only affects FOREX, not Currency Futures, is that right? |
| JoeRoss | I hope marsh and acman will come to the seminar too |
| JoeRoss | joy: only forex |
| Joy | Joe: THANK YOU! |
| JoeRoss | stinsonv: What do you trade? |
| Joy | Joe: With far fewer demand/buying for Treasury (thanks to all the money we print to pile on the debt), does it mean it may be more risky to even enter Treasury Spreads like the NOB? Does the volume change translate to Futures spreads? |
| iso | if you are trading with a 3 min chart lets say, do you use a higher time frame to assist the trade in any way |
| JoeRoss | joy: I don't anticipate a problem. The treasury markets are still liquid. |
| Joy | Joe: That is great! Thank you! |
| JoeRoss | iso: I don't but it's something other traders do. |
| stinsonv77 | i am trying to figure a way to day trade stocks using options using your reversal bars |
| JoeRoss | Joy: Even when the 30 year bond wasn't sold for a few years. the bonds remained liquid and tradable. |
| Joy | Joe: WOW! That is amazing! |
| Joy | Joe: I read on the CME Site "Implied Treasury and Swap Spreads allow for easier and more efficient execution of the most commonly-traded spreading strategies—such as the NOB—and eliminate the risk of not being able to execute the spread at the desired price." |
| Joy | Joe: Do you do that? I have not an idea what they said :) |
| JoeRoss | stinson: That should be easy. Just do what you would have with the stock but use an option. |
| stinsonv77 | problem is the moves often barely cover the commission |
| JoeRoss | Joy: I don't deal in Treasury Swaps. |
| JoeRoss | stinson: how much are you paying? |
| stinsonv77 | 1.50 |
| JoeRoss | At Interactive brokers I pay only $1 |
| Joy | Joe: THANK YOU! Then I am not going to worry about it either :) |
| Joy | Joe: THAT is cheap! |
| JoeRoss | Joy: worrying wouldn't help even if you or I did deal in swaps. |
| JoeRoss | Only action helps. |
| Joy | Joe: RIGHT! Thank you for the motivating lesson :) |
| stinsonv77 | i have been using atm strikes and i might do better itm with higher delta's |
| JoeRoss | stinson: Are you buying or selling ATM |
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| JoeRoss | There's thunder on the mountain--mighty zeus is here !! |
| stinsonv77 | buying |
| JoeRoss | Ugh! |
| Zeus | Howdy Joe, howdy all. |
| Joy | Joe: I hope that thunder leads to some rain for you :) |
| Zeus | OK Joe.....since nobody is typing,,,,,tell me what you think about "HIGH FREQUENCY TRADING" and what effect it has and has had on the futures markets. |
| JoeRoss | stinson, If you buy an atm option you are getting the worst possible deal. the atms are the most expensive options. |
| JoeRoss | If you are gonna buy, buy itm |
| Joy | Joe: Your Chart Scan lesson on congestion cannot be more relevant... is the stock index entering congestion with several dojis in a row on the daily charts? |
| JoeRoss | Zeus, come to the seminar. I will show what high frequency trading does to the market. |
| JoeRoss | Joy: it looks like it the up move is ending and the start of sideways price action |
| Joy | Joe: THANK YOU! I forgot to mention last week the new Look and Feel of Chart Scan is OUTSTANDING: very helpful navigation and beautiful design! |
| JoeRoss | susan worked hard on it |
| stinsonv77 | since i was only in for 30 minutes or so i figured the extrinsic would not hurt the problem i believe is the low delta's only give me partial profit,i think i will try 80 delta or so. |
| Joy | Joe: Please thank Susan for us! She did an awesome job! |
| JoeRoss | stinson: sounds like a plan. |
| Joy | Joe: As the hour is nearing the end, I want to wish you a safe and happy trip to Panama in the next two weeks. I hope you and Mrs. Ross have a wonderful time. |
| JoeRoss | We are going to try to do that. |
| Joy | Joe: Please make sure you take time to rest --- don't work the entire time! :) |
| JoeRoss | In case the rest haven't heard, there is no chat next week or the one after. |
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| iso | have a great vacation |
| Joy | Joe: I will miss you very much! |
| JoeRoss | I'll miss yueh very much too ;) |
| limasierra88 | Wishes for a successful trip, and that you do relax a little on "vacation". |
| Joy | Joe: THANK YOU! I will be thinking of you and praying for you every day! |
| JoeRoss | Thanks Joy |
| marsh | Have a nice time Joe, see you then. |
| JoeRoss | ok bye everyone. |
| JoeRoss | I'll be fine if I can keep the email from piling up while I'm gone. |
| Joy | Joe: THANK YOU for the lessons! Have a good night! Love and Kisses! |
| Joy | Joe: You will have to designate the emails to someone else so you can relax after you get back :) |
| stinsonv77 | went to college with a brat from panama and he said they have the most beautiful women in the world so with mrs ross's permission check that out for us |
| JoeRoss | I'll be happy to do that stinson |
| JoeRoss | Good night all. |
| Joy | Joe: Good night and sweet dreams! |
| JoeRoss left. |
Next Chat with
Joe Ross:
Wednesday, August 19 , 2009
Time: 8:00 - 9:00 P.M., U.S. Central Time.
COME BACK WITH YOUR TRADING QUESTIONS & COMMENTS!
