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User - Profile - ninjaninja   

User ID:ninjaninja
Joined:11 yrs ago
Blog Score:3945
Fav Blogs:6
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Logged In:Today
When:3 mons ago
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Trend, Range, Momentum, Dip, Flow
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Wall Street Pit
Wall Street Hot Shots
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Personal Description

“The less I cared about whether or not I was wrong, the clearer things became, making it much easier to move in and out of positions, cutting my losses short to make myself mentally available to take the next opportunity.” -Mark Douglas

“You need to ‘change your thinking’. The goal is to reach a ‘care-free state of mind’. When a pattern presents itself, don’t think. There’s nothing to think about. Take the trade because you have an edge. Then odds, probability and your risk control mechanisms will take care of everything. In the end, the key is to learn more about yourself. The most important lesson though is the importance of viewing every single trade as being part of a series of trades.” -Mark Douglas"

"In a narrow market when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be- up or down. The thing to do is watch the market, read the tape to determine the limits of the get-nowhere prices, and make up your mind that you will not take up interest until the price breaks through the limit in either direction."- Jesse Livermore

"When I put on a trade, all I expect is that something will happen."- Mark Douglas

"Ninety-five percent of the trading errors you are likely to make—causing the money to just evaporate before your eyes—will stem from your attitudes about being wrong, losing money, missing out, and leaving money on the table. What I call the four primary trading fears."- Mark Douglas

"We need to be rigid in our rules so that we gain a sense of self-trust that can, and will always, protect us in an environment that has few, if any, boundaries. We need to be flexible in our expectations so we can perceive, with the greatest degree of clarity and objectivity, what the market is communicating to us from its perspective."- Mark Douglas

"It always seems the best trades are the small ones you don't care about. In that case, make them all small to take your emotions out of the equation and let the power of the trend and whatever edge you use do its thing."

"When dealing with options, using stops take you out of the trade entirely. You never really know what the market will give you on any given day. If one assumes a 100% loss right from the start, and sizes their position appropriately, you can let the position expire painlessly but still have a position to take advantage of if something crazy happens within your option timeframe."

"Despite your best efforts, you never really know which edges are going to work and which aren't so stop trying to predict outcomes. By taking every edge, you increase your sample size of trades, which in turn gives whatever edge you are using ample opportunity to play itself out in your favor, just like the casinos."- Mark Douglas

"It is exactly like options, trial and error, not getting stuck, bifurcating when necessary but keeping a sense of broad freedom and opportunism. Trial and error is freedom.”- Nassim Taleb  

"Markets are simple in that $1 in and $1 dollar out at end of day only generate trading volatility but does little to push prices higher. Markets need buyers who are willing to hold invesments overnight to sustain price moves. When these are absent, markets drop until levels are reached when these same buyers feel prices and conditions are attractive enough to hold investments longer term.

“I haven’t seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren’t. Many outstanding intelligent people are horrible traders. Average intelligence is enough. Beyond that, emotional makeup is more important.”- Mark Douglas

“Why do you think unsuccessful traders are obsessed with market analysis? They crave the sense of certainty that analysis appears to give them. Although few would admit it, the truth is that the typical trader wants to be right on every single trade. He is desperately trying to create certainty where it just doesn’t exist.” – Mark Douglas

Tune out the intraday noise. Use end-of-day, week or month as a guage for the general sentiment of your stock within the timeframe you're playing.

Randori is a term used in Japanese martial arts to describe free-style practice. The term literally means "chaos taking" or "grasping freedom," implying a freedom from the structured practice of kata. Randori may be contrasted with kata, as two potentially complementary types of training.

"The goal of the trader, paradoxically, is not to make money. The goal is to trade well."- Alexander Elder

If markets are "rigged" or not really doesn't matter. Making money consistently from what the market has to offer is what matters.

It's one thing to have an answer for everything. The creative have a question for everything.

The market moves in waves that can last anywhere from weeks to months. Then a correction or setback starts, which can last anywhere from 5 to 8 weeks or even as long at 4 to 6 months.- Dan Zanger

History shows 3 out of 4 stocks move in the same direction as the overall market, either up or down. So if you buy stocks when the market is trending higher, you have a 75% chance of being right. But if you buy when the market is trending lower, you have a 75% chance of being wrong.- IBD

On average, every month has about 22 trading days. Based on the ebb and flow of market action, trending up/down, to range-bound, there will be 3-5 days great for trading with less risk, another 3-5 days great for trading with manageable risk. So based on this, one only needs to trade 5-7 days or 1/3 of all trading time in a month. Be patient.

Sentiment Questions: Are dips being bought or sold? Are pops being bought or sold? Are the general market moves tight orderly or loose? Is the market making higher highs, lower lows or trading within a range? How are  the previous questions also playing out in other time frames? 

The real challenge is to exploit the winning periods and limit the damage during the losing periods.- Peter Brandt

How do you know when you're in a bull market? -- whenever you get out, you must pay up to get back in- Peter Brandt 

The 5 Fundamental Truths of Trading:

1. Anything can happen.
2. You don’t need to know what is going to happen next to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.

The 7 Principles of Consistency:

1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.

Message Postings
ForumSymbolMessage Preview / SubjectDate (ET)
Wall Street PitTSLABREAKING: Tesla announces 5-for-1 stock split eom08/11/2020 17:02
Wall Street PitSLVadding some on the lurch down eom08/11/2020 14:08
Wall Street PitARcommon. don't want to f* up a potential trend by messing with timeframe. lol....08/11/2020 12:25
Wall Street PitTLRYin some. TLRY CGC CRON eom08/11/2020 12:15
Wall Street PitAMyearly up @ 8.45. Getting close. Already quarterly up. 08/11/2020 12:11
Wall Street PitARtesting highs on all timeframes. if it goes, there's alot of room. Re: People...08/11/2020 11:47
Wall Street PitJMIAthanks for the heads up Re: Be careful Lots of PUT buying yesterday and today...08/11/2020 10:14
Wall Street Pit2.7's. nh eom08/11/2020 09:32
Wall Street PitQRTEAso far, holding up well from earnings announcement eom08/11/2020 09:27
Wall Street PitXLFso interesting watching sector rotation eom08/11/2020 09:25
... See More (1 PC) ...

User Feedbacks
FromFeedbackDate (ET)
SurgicalScalper (Rep: 1709)Jumped on Fsly from $20.00 now it is $73.00 with clear sailing.06/23/2020 08:30
SurgicalScalper (Rep: 1709)Multiple nice scalps in the options market!! Great job05/08/2020 16:35
manhack (Rep: 3)snip SNAP $$$$$04/29/2020 17:11
efbailey (Rep: 1777)best SPY option trader i've ever seen in 20 yrs on the pit!04/22/2020 22:13
vazy1952 (Rep: 0)you have all my respect, i try to find the way you do, all week and day, a lot of energy04/20/2020 12:07
... See More ...

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Blog Submissions
Blog TitleSourceDate (ET)
Chipotle Ceo Adds Another Taco Bell Veteran In New Marketing ChChicago Tribune03/21/2018 10:25
Up 2.5% If It Wasn't For The Strength Of The Dollare Which Doeskitco.com08/04/2011 10:50
Wow. Pm Strength. Hidden By Dollar Goin Up.kitco.com04/18/2011 12:46
Silver Price To Squeeze Jpm... Interesting Article.San Francisco Chronicle12/07/2010 08:36
Arena Pharmaceuticals Announces Phase 1 Results For Apd916 For Yahoo! Finance10/20/2010 08:21
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