Studies show that eating a proper breakfast is one of the
most positive things you can do if you are trying to lose weight. Breakfast skippers tend to gain weightAout 05 9:10 am (centre dentaire anjou) jeantalon. dr
Because we have been discussing the importance of information
in the marketplace, let us take a moment to consider the various sources of information available to a trader and how they should be used. Two main types of information need to be applied in the market place—fundamental and technical. Fundamental information allows one to build a background and to place price in perspective. These are probably the two most important disciplines for a trader to develop. They allow one to take advantage of situations and enable one to sense op- portunities. They make it possible to trade with confidence as one learns to “feel” the market. Fundamental information is con- stantly available: from the news, trade journals, government of- fices, corporate news releases, and so on. However, it is hard to acquire and use fundamental information in a timely fashion early in a trading career because one cannot yet relate it to the ac- tual trading process. One must build a bank of actual trading ex- perience which the fundamental information can be related to, and this takes time. The difficulty in using fundamental infor- mation is that one must interpret the data. Then this interpreta- tion must be overlaid on the market itself. This calls for timing. Sometimes one has the “right” data, only to discover that the market is doing something else. Most fundamental information should be used only as background. It can serve as a direct guide for trading only when price is very advantageous in relation to the data, or when the market is acting in accordance with the data. The difficulty of getting information on time and then ap- plying it correctly has made fundamental information very hard to work with. As a result, most people do not use it. Conversely, technical information comes in a nice neat package. It appears to be so easy to use that people flock to it. Technical data can be easy to see and easy to apply—but good re- 46 The Steidlmayer Method sults are not so easy to achieve. The problem is that some tech- nical data are good and some are bad; the trader must make choices, interpret, and then time the trade. Most traders make the mistake of using technical data as the basis for the decision- making process when in fact they should be used mainly for tim- ing an idea. Technical data are usually based on the forward pro- jection of past data. But making accurate forward projections is most difficult in any profession. Those who have mastered some technical skills can use them fairly well. Market Profile is tech- nical information, but it is drawn from a different database than other forms of technical information. The Market Profile database is evolving real time and reflects only what is happen- ing on the trading floor. Market Profile tries to identify the un- derlying conditions of the current market movement. Not only does Market Profile communicate current price activity, it also communicates whether market activity is likely to continue or change. This is done by the way Market Profile captures the de- velopment of trading activity by fully utilizing the horizontal di- mension. This is the subject of the next chapter. All the param- eters and definitions I prepared for Market Profile are soundpercent in the third standard deviation.) Please excuse the sim- plifications regarding the bell curve, but this is all that needs to be understood at this time. I still remember the page of the textbook where it said that through the bell curve, out of apparent chaos comes a beautiful cosmic order. This hit home because I knew that my trading ob- servations and experiences up to this time lacked a sense of or- der. I began trying to visualize the organization of the seemingly chaotic activity in the commodity pits—the chaos that everyone else accepted unquestioningly—within the structure of the bell curve. My job would be to find a way to bring order to that chaos, and the bell curve would be the tool. At this point, the idea remained simply an image with no hard work or evidence to back it up. But it remained in the back of my mind for some time, waiting to be developed. My personal trading had moved from being based on wire house recommen- dations to newsletter recommendations. Although both good and bad recommendations were available, I fell into the habit of following the bad recommendations and being afraid to take the good ones. Soon I realized I could not just buy a trading program off the shelf or subscribe to a newsletter from a wire house. I had to create my own trading program. After about a year and a half at Berkeley, I decided that I had learned all I could in college, yet I wanted my degree. I felt that I had a natural bent toward trading, but what I was learning in school would not be directly relevant to my career as a com- modities trader. So after my sophomore year, I decided to give Berkeley 1 more year, and I doubled up on all my units so as to finish my program within that time. During the summer of 1959, I took a finance course that in- troduced me to the principles of value investing through the classic work of Graham and Dodd. Their book, Security Analysis, made a lot of sense because I had already learned from ob- servation and from talking with my father that in any market the relationship between price and value was the key—that price away from value usually represented opportunity. I made the im- mediate association of using the bell curve to find value in the marketplace, although I still did not see how I was going to do this. The idea of using the concepts of Graham and Dodd in con- junction with the bell curve clearly intrigued me. I felt that aWhere It All ~tarted; Out of Chaos Comes O~der: The 'Crash of 1929; The Crash of 1987: More Chaos and the Resulting Order; The New York Stock ~xchange: How It Works; The Nasdaq Stock Market: How It" Works; The American Stock Exchange LLC: How It Works; Let's Dissect the Indexes; Wall Street as "The Animal House": The Bulls and the Bears, the Sheep and the Hogs; Two Emotions That Rule the Markets (and Most ofthe Rest ofthe World); Supply and Demand; Check Your Understanding; What Is "Center Point"?; Center Point: You . .. A Golden BuddhaTHE RUNS TEST When we do sampling without replacement from a deck of cards, we can determine by inspection that there is dependency. For certain events (such as the profit and loss stream of a system's trades) where dependency cannot be determined upon inspection, we have the runs test. The runs test will tell us if our system has more (or fewer) streaks of consecutive wins and losses than a random distribution. The runs test is essentially a matter of obtaining the Z scores for the win and loss streaks of a system's trades. A Z score is how many standard deviations you are away from the mean of a distribution. Thus, a Z score of 2.00 is 2.00 standard deviations away from the mean (the expectation of a random distribution of streaks of wins and losses). The Z score is simply the number of standard deviations the data is from the mean of the Normal Probability Distribution. For example, a Z score of 1.00 would mean that the data you are testing is within 1 standard deviation from the mean. Incidentally, this is perfectly normal. The Z score is then converted into a confidence limit, sometimes also called a degree of certainty. The area under the curve of the Normal Probability Function at 1 standard deviation on either side of the mean equals 68% of the total area under the curve. So we take our Z score and convert it to a confidence limit, the relationship being that the Z score is a number of standard deviations from the mean and the confidence limit is the percentage of area under the curve occupied at so many standard deviations.Returning now to our argument, it is rather inconceivable that the traders in the cash market all started trading the same types of systems as those who were making money in the futures market at that time! Nor is it any more conceivable that these cash participants decided to all gang up on those who were profiteering in the futures market. There is no valid reason why these systems should have stopped working, or stopped working as well as they had, simply because many futures traders were trading them. That argument would also suggest that a large participant in a very thin market be doomed to the same failure as traders of these systems in the bonds were. Likewise, it is silly to believe that all of the fat will be cut out of the markets just because I write a book on account management concepts. Cutting the fat out of the market requires more than an understanding of money management concepts. It requires discipline to tolerate and endure emotional pain to a level that 19 out of 20 people cannot bear. This you will not learn in this book or any other. Anyone who claims to be intrigued by the "intellectual challenge of the markets" is not a trader. The markets are as intellectually challenging as a fistfight. In that light, the best advice I know of is to always cover your chin and jab on the run. Whether you win or lose, there are significant beatings along the way. But there is really very little to the markets in the way of an intellectual challenge. Ultimately, trading is an exercise in self-mastery and endurance. This book attempts to detail the strategy of the fistfight. As such, this book is of use only to someone who already possesses the necessary mental toughness.The shooting star was the first sign of trouble in Exhibit 6.28. The next session's bearish belt-hold line confirmed a top. Another bearish belt hold during the following week reflected the underlying weakness of the market. Exhibit 6.29 is an example of back-to-back bearish belt holds in mid- February. The which ensued, was sharp, but brief as a bullish morning star pattern spelled a bottom.The longer the height of the belt-hold candlestick line, the more significant it becomes. Belt-hold lines are also more important if they have not appeared for a while. The actual Japanese name for the belt hold is a sumo wrestling term: yorikiri. It means "pushing your opponent out of the ring while holding onto his belt." A close above a black bearish hold line should mean a resumption of the A close under the white bullish belt-hold line implies a renewal of selling pressure. Exhibit 6.27 shows how bullish belt-hold line 1 signaled a rally. hold line 2 is interesting. It confirmed a tweezers bottom since it maintained the prior week's lows. A rally ensued which ended with a harami a few weeks later. ........... .......... Hold 1 , 7/23/90 . Bullish Belt . 4830 Hold 2 4830 4759 4775- 'Ju 'Oc t 'Jan 'Jul PBELT-HOLD LINES The belt hold is an individual candlestick line which can be either bullish or bearish. The bullish belt hold is a strong white candlestick which opens on the low of the day (or with a very small lower shadow) and moves higher for the rest of the day. The bullish belt-hold line is also called a white opening shaven bottom. If, as in Exhibit 6.25, the market is at a low price area and a long bullish belt hold appears, it forecasts a rally. The bearish belt hold (see Exhibit 6.26) is a long black candlestick which opens on the high of the session (or within a few ticks of the high) and continues lower through the session. If prices are high, the appearance of a bearish belt hold is a top reversal. The bearish belt-hold line is sometimes called a black opening shaven headLibrary of Congress Cataloging-in- Publication Data Nison, Steve. Japanese candlestick charting techniques : a contemporary guide to the ancient investment technique of the Far East Steve Nison. p. cm. Includes bibliographical references and index. ISBN 0-13-931650-7 1. Stocks-Charts, diagrams, etc. 2. Investment analysis. I. Title. 1991 90-22736 This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. From a Declaration of Principles Jointly Adopted by a Committee of the American Bar Association and a Committee of Publishers and Associations by Steve Nison All rights reserved. No part of this book may be reproduced in any form or by any means without permission in writing from the publisher. New York Institute of Finance Simon Schuster Printed in the United States of America 1 0Website: www.TradeNavigator.com E-mail: sales@tradenavigator.com Phone: 1-800-808-3282 Phone: 1-719-884-0244 Markets Currently Available: Equities, forex, futures, and options. Contact this company to find out the latest information on products and services available. Trade Navigator is a premier and first-class trading and investing ART platform. It is a front-end platform and is not a broker. Some of the brokers it is compatible with are: PFGBEST.com, Infinity Futures, TransAct Futures, and MF Global. Market Analyst Website: www.Market-Analyst.com E-mail: sales@Market-Analyst.com Phone: 1-800-557-2702—United States Phone: 0-800-680-0428—United Kingdom Phone: 800-130-1604—Singapore Phone: 1-300-655-262—Australia Phone: +61-7-3118-9580—All countries Markets Currently Available: Equities, forex, futures, and options. Contact this company to find out the latest information on products and services available. Market Analyst is a premier and first-class trading and investing ART platform. It is a front-end platform and is not a broker. Two of the brokers it is compatible with are GFT and Interactive Brokers. Two of the data feeds it connects to are DTN IQFeed and eSignal. Patsystems (Third-PartyInitial-Stop Trend Exits Most trading systems use a moving average to determine an exit signal. Moving averages are usually derivatives of price and therefore do not represent the true realities of the market. Furthermore, moving averages can be adjusted with variables such as simple versus compounded moving averages. In contrast to the moving average approach, with Pyramid Trading Points you are trading with market realities. You will set your stop-loss exit at the base leg of the pyramid. An exit signal is generated if and when prices reverse one tick past the base leg. If prices reverse and go against you by passing the Pyramid Trading Point base leg, then some new information has come into the market causing the reversal (see Figure B.1 and Figure B.2). We exit the trade based on price activity, which is a truth of the market. Trailing-Stop Trend Exits WhenB.3 you can see how the ART software places bullish and bearish PTP signals on your chart so you can easily see the changing trend direction at all times. FIGURE B.3 Bullish and Bearish Pyramid Trading Points This chart illustrates bullish (triangles pointing upward) and bearish (triangles pointing downward) Pyramid Trading Points. On a color chart the bullish PTP signals would be colored green and the bearish PTP signals would be colored red.Résultats de recherche Résultats Web https://www.investopedia.com/ Traduire cette page https://www.investopedia.com/www.investopedia.com › get-started-with-futures
Tips for Getting Into Futures Trading - Investopedia
25 juin 2019 - The futures markets can seem daunting, but these explanations and ... works and the different strategies that you can use to make money. Autres questions posées How much money can you make in futures trading? https://tradingsim.com/ https://tradingsim.com/
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How to Make Money Trading Futures | Finance - Zacks
Investors trade futures on margin, paying as little as 10 percent of the value of a contract to own it and control the right to sell it until it expires. Margins allow for multiplied profits, but also make it possible to risk money you can't afford to lose. Remember that trading on a margin carries this special risk. https://fr.scribd.com/ https://fr.scribd.com/fr.scribd.com › doc › How-to-Make-Money-in-the-Futures-Market
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Futures Trading: What to Know Before You Begin - NerdWallet
12 mars 2019 - There's a lively and liquid market for futures contracts. ... or speculators, who seek to make money off of price changes in the contract itself. https://money.howstuffworks.com/ Traduire cette page https://money.howstuffworks.com/money.howstuffworks.com › ... › Financial Planning
Futures Contracts - Money | HowStuffWorks
In traditional stock market investing, you make money only when the price of your stock goes up. With stock market futures, you can make money even when the ... https://www.quora.com/ Traduire cette page https://www.quora.com/www.quora.com › How-do-I-earn-big-money-in-f...
How to earn big money in future and option trading - Quora
17 réponses 5 déc. 2016 - Hello friends, If you want to earn big money in future and options trading, you can follow 2 different ways which i will explain here. There are basically 2 ways to ... Do successful futures traders think that it is easy to make money ... 18 mars 2018 What is the best way to earn money in the stock market? 11 oct. 2019 What is the percentage of people who make money in trading in ... 24 déc. 2017 Autres résultats pour www.quora.comPOTENTIAL VERSUS CONFIRMED PYRAMID TRADING POINT It’s important to understand the difference between a potential and a confirmed PTP. A potential PTP will appear yellow on your chart and will not change color until it has been confirmed. Once the PTP has been confirmed, it will change color to either red for a bearish downtrend or green for a bullish uptrend. The definitions of potential PTP and confirmed PTP follow. Potential Pyramid Trading Point. A potential PTP may occur when prices have not yet exceeded the pointed peak or apex of the triangle. A number of charts in this appendix show potential pyramids in a row; they will appear yellow on a live color chart generated by the software. The reason a pyramid is considered potential is because price activity has not yet broken beyond the apex of the triangle. Confirmed Pyramid Trading Point. When prices exceed the pointed peak or apex of the triangle, the pyramid will become confirmed and will appear red or green on a live color chart generated by the software. The ART software will give you a voice alert (if you select this feature) only when the PTP has been confirmed. The value of watching your monitor to check for yellow potential PTP signals is that you will have a heads-up that a signal may be forming and you will have time to calculate your trade size prior to the signal confirmation. Important Note: If the yellow PTP signal is voided (not confirmed), it will disappear from your chart. Another note is that sometimes in fast-moving markets a confirmed PTP signal will appear without warning (no yellow potential PTP). Once you have been using the software and are comfortable with it, this information will become second nature and you will respond automatically to the various changing signals.Typically, the faster the data, the more expensive it will be. The way you determine the speed you will need is by deciding what the time frame of your trading will be. In other words, will you be trading on a higher time frame and day trading or will you be trading on a lower time frame and investing? If you plan on investing or position trading, you can make do with end-of-day data. However, if you will be day trading, you must have real-time lightning-speed data. Determine what your budget allows for and what type of trading you will be most profitable with. In deciding where to get your data, you will need to take into account the following factors by answering this Q&A: 1. Q: What is your budget? Can you afford to pay for data? Do you have a current data feed? A: ___________________________________________________________ 2. Q: Can you afford to open a brokerage account? What is the minimum dollar amount required to open and maintain an account? A: ___________________________________________________________ 3. Q: What time frame are you trading in—real-time day trading or end-of-day position trading? A: ___________________________________________________________ 4. Q: Will you be paper trading or live trading? A: ___________________________________________________________ 5. Q: What broker(s) do you currently use, or what broker(s) are you interested in using in the future? A: ___________________________________________________________ 6. Q: Which of these brokers provide data? A: ___________________________________________________________ 7. Q: Which brokers pay for or waive your exchange fees? A: ___________________________________________________________ 8. Q: Do any of these brokers provide their own front-end charting platform? What, if anything, is the cost for that? A: ___________________________________________________________ 9. Q: Do these brokers plug into other front-end charting platforms? A: ___________________________________________________________ 10. Q: What market(s) have you decided to trade? A: ___________________________________________________________ 11. Q: Which symbols will you be trading and through which exchange(s)? What brokers carry these items? A: ___________________________________________________________ 12. Q: What trading tools and software do you currently use, and what platform do they plug into? A: ___________________________________________________________ Once you have completed the preceding question-and-answer section, then you are ready to begin your brainstorming and research to get the best possible solution for your needs at this place and time. For starters, there are lots of choices at your disposal, including a number of front-end charting platforms and data providers that can connect you to brokers so that you can literally place trades right off your chart. You can see in Table 6.12 a variety of data choices. TABLE 6.12 Select a Data Feed That Matches Your NeedsHaving amassed a sizable fortune, Roger Babson was not content to join the idle rich. Instead he shared his business knowledge to protect investors, and invested his own wealth in industries and endeavors that would benefit humanity. After witnessing a dramatic stock market crash and financial panic in 1907, Roger Babson expanded his investment practice to include counseling on what to buy and sell as well as when it was wise to purchase or unload stocks. Working with M.I.T. Professor of Engineering George F. Swain, Roger Babson applied Isaac Newton's theory of "actions and reactions" to economics, originating the Babsonchart of economic indicators, which assessed current and predicted future business conditions. Although the Babsonchart has since proved to be an imperfect tool, through it Roger Babson earned the distinction of being the first financial forecaster to predict the stock-market crash of October, 1929, and the Great Depression that followed. Roger Babson extended his interest in the public's welfare beyond investment counseling. He encouraged industries to develop products to improve public health and safety. Among businesses receiving Roger Babson's approval and financial backing were select manufacturers of sanitary paper towels and other hygienic products, fire alarm call boxes, fire sprinklers, and traffic signals. Roger Babson saw it as his duty to share his insights and experience. An avid reader and writer, he sought to dispense his brand of advice and wisdom beyond the readership of Babson's Reports. From 1910 to 1923, he commented on business and other matters as a regular columnist for the Saturday Evening Post. He also contributed weekly columns for the New York Times and for the newspapers owned by the Scripps Syndicate. Babson eventually formed his own syndicate, the Publishers Financial Bureau, to disseminate his writings to papers across the United States. Over the course of 33 years, he authored 47 books, including his autobiography, Actions and Reactions. Although his writings covered topics as diverse as business, education, health, industry, politics, religion, social conditions, and travel, the primary message behind each work was that individuals and society could and should change for the better.The Major Trend Now finally we can get to the marquee moment, for your most important job on Sundays is to determine whether the major trend of the market is up or down—and at the same time you must think about what could change your mind. With any luck, you will come to the same conclusion for 250 weeks in a row or more, but as a day trader it is still something you must consider and decide upon. What makes the big trend? As equity investors, we are participating in an auction market, and that simply means that buyers are pitted against sellers. For the value of the market to go up, buyers need to find a way to force sellers to hand over their inventory, which is shares of stock. They do this by offering them an increasing amount of money, until finally the holder hands over the shares. This is why the starts of bull markets are characterized by such intensity. Sellers need to be begged to hand over their shares, and buyers must bid ever higher and more intensively to make them do it. This battle over a limited number of shares is at the heart of the market. In a bull trend, we start with the premise that buyers must be more anxious to buy than the sellers are to sell. After we have determined that this is true, then the question becomes: How muchTen Percent Solution Fortunately, there is one more statistical signature in Lowry’s bag of analytical tricks to help us trade and make money from countertrend declines amid a bull market. What you need to observe is the percentage of NYSE stocks trading above their 10-day moving average, as this is helpful in measuring short-term extremes of panic behavior. According to Lowry’s, when the percentage of stocks trading above their 10-day moving averages drops below 10 percent amid a broadly uptrending market, this is a panic situation that cries out for you to get your buying groove on. It often coincides with an isolated 90 percent downside day, so there are lot of sparks flying that might distract your attention. A recent example emerged not long after the stock market began to drop on February 27, 2007. The 10-day percentage indicator dropped from a peak of 84.6 percent in February to a low of 3.7 per-Poor Timing Method: Earnings Growth Forecasts This may be a good time to note a timing methodology that makes a lot of sense on the surface but doesn’t work at all, and that is trying to time the market based on earnings growth projections. This is because there is a real disconnect between earnings growth and the stock market. What gives? I know this goes against the conventional wisdom, but hear me out. Ned Davis Research says that the disconnect between earnings and stock results has occurred because earnings don’t actually drive broad-market results—and never have.The same thing happened in the spring of 2007, as you can see on the same chart. The decline in U.S. markets started with a jolt from the blue in late February as a result of a plunge in the Chinese stock market and then continued into early March toward the 40-week low. The time to buy heavily into the plunge, as you can see, was when the McClellan Oscillator fell to –200. The oscillator ultimately fell to –300, but that’s OK. After it fell below –250 during the time frame in which you were expecting a major 40- week cycle low, you should just have added to your new, leveraged holdings with confidence. Not too much later, in both cases, the market reversed, and you were on your way to a big gain. But there was much more to both cases than a quick profit because the vacuum created by selling led to a tornado of bargain hunting and fevered buying. So many stocks of all sizes and sectors were picked up so rapidly by voracious insti- 260 250 240 230 220 210 200 190 180 170 160 150 140 130 120 110 100 90 80 70 60 242890 194312 145734 97156 ×100The first pocket pivot is off both the 10‐day and 200‐day moving averages. The two days after this pocket pivot could be considered buyable as the stock is breaking out of a sideways consolidation/base. The two Xs that follow are both extended from the 10‐day moving average and above the buyable gap‐up day. 2. The second pocket pivot is off the 50‐day moving average after a constructive consolidation into the 50‐day moving average. Note how the price action does not suddenly run into the 50‐day moving average but has a subtle rounding‐out effect. 3. Part of the third pocket pivot is cautionary since it is extended relative to the 50‐day moving average because the stock bounced straight up from its 50‐day moving average. The two Xs that follow are under the 50‐day moving average. 4. The fourth pocket pivot is up through the 50‐day moving average after a rounding‐out pattern is formed under the 50‐day moving average. The X that follows is extended from the 10‐day moving average. 5. The fifth pocket pivot is a base‐breakout, so while it is extended from the 10‐ day moving average, it is not extended relative to the overall base. 6. The sixth pocket pivot is also a base‐breakout and off the 10‐day moving average. The first, third, and fourth Xs that follow are extended relative to the 10‐day moving average. The second X that follows comes after a relatively sharp drop in the stock, and so it should not be bought until it closes at or above its 10‐day moving average. 7. The seventh pocket pivot is cautionary since it is somewhat extended from the 10‐day moving average and comes after relatively choppy price action, even though it is rounded‐out price action.The first X prior to the first pocket pivot is too soon in the pattern, since it is just the stock’s third day of trade since it went public. The second X occurs after a downtrend and closes under the 10‐day moving average. That this stock has only been trading for a few weeks increases the risk in buying here. The first pocket pivot occurs off the 10‐day moving average, after the stock has had a chance to round out its basing pattern, trading tight for three weeks. The next two Xs are extended from the 10‐ day moving average. 2. The second pocket pivot is a buyable gap‐up, which is discussed in the next chapter. It occurs after a steep pullback, which is not unusual for a volatile IPO such as this one. 3. The third pocket pivot occurs off the 50‐day moving average on the day it does its secondary offering. Notice in the days leading up to the third pocket pivot how the stock got continuous support as it tested its 50‐day moving average. The next two Xs are extended from the 10‐day moving average. The window of opportunity to buy is often just on the day of the pocket pivot. 4. The fourth pocket pivot retests, breaks to new highs intraday, then has a reasonably strong close. Such upside reversal patterns are particularly favorable. The X that follows is extended from the 10‐day moving average.