Emini Trading Update – Friday 18 Nov 2011 (5:09)
Finished off the week with a nice OSOK (one shot one kill). Today was always going to be range bound after 2 big trending days – and so far we’ve got a top to bottom range of about 10 points. And 1,210 appears to be holding for now.
Link of the day …
If you’ve not seen the full interview with Kyle Bass, it’s a must – incredibly logical guy, brilliantly explains the problems and issues.
The BBC interviewer, Sarah Montague, on the other hand, acted like a complete ass. Which is a real shame, because she has a finance background, worked on a Eurobond desk at NatWest Capital Markets and is the kind of person I’d like to see more of getting the message over to the general public.
But she seems to hate people profiting from their logical minds and adapting to the world they see, rather than the world they are being told to believe in.
Still, Kyle, you killed it. Awesome job, live long and prosper. Video on ZeroHedge.
Quote of the day …
Great email from Petr S., who’s a Forex trader. Here is how he is using the ‘Better’ indicators to trade Forex and his results:
“Barry, I want to express my the most sincere thanks for your truly outstanding work and dedication to share your trading research and approach with trading community. I am a full time forex trader with aspirations to increase my trading account allowing me to switch eventually from spot forex to futures to fully utilize the power of your indicators.
Upon detailed study of all the information available on your site, I realized that for forex trading switching from my range bar charts to tick charts, using 3 timeframes for reference and adding the Better Sine Wave would be the most usefull adjustments to my charting set-up. Here is the comparision of several metrics for 8 trading days before charts adjustements and Better Sine Wave installation and 8 days after:
8 days before: 81 trades taken with average 10.1 trades per trading session, 2 profitable days out of 8, daily average 0.03 pips.
8 days after: 73 trades taken with average 9.1 trades per trading session, 7 profitable days out of 8, daily average 13.4 pips.
Talking about dramatic improvement! Barry, once more, thank you very much for your work and I wish you the very best in your trading and personal life.”
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