Two Words

Discussion in 'Strategy Building' started by the1, Jul 20, 2009.

  1. the1


    A quick little story. I was running some numbers one day, trying to calulate where the next resistance level was going to come in and in the event that one failed, the one after that. I sat there for about 45 min's doing calculation after calculation and this old guy who had been trading for about 3 decades turned and looked at me and said two words. "Surf's Up." That's all he said and he turned back and went about his business. I didn't say a word to him. I just sat there and thought about what he said, trying to figure out how I could prove him wrong.

    At the time it didn't really hit me how powerful those two little words were. A few years later I found myself in a similar situation except I was looking for support. The image of this guy turning and looking at me and uttering those two little words was as clear as the day he said it. Fast forward a decade....Surf's Up.
  2. randy33



    I am very interested in how you got to sit next to "an old guy who had been trading for 3 decades going about his business" when you were doing yours ? Were you his student, protege ? Were you professional traders at Goldman sitting in a big room trading FX ? Did you own a seat at the stock exchange and he was the senior guy next to you ?

    I am astounded by the possibilities. Please enlighten me.
  3. the1


    I traded in the pits for a few years.

  4. randy33


    I see. I am also curious you have 45 minutes to calculate support and resistance in the pit. Didn't you have automated software or at least a programmable calculator ?
  5. the1


    Homie, I don't particularly give a fuck if you don't believe me. I mean Christ, do me a favor and go tie the noose for me. Someone on Elite-fucking-trader doesn't believe I traded in the pits and did calculations to find a resistance level. Go hang out in the pits for a while, during the summer, around lunch time. You can hear a blasted pin drop it gets so dead.

    We did calculations before, DURING, and after the market closed. And please, don't forget, Surf's Up!

  6. randy33


    Surf's up! Take a little levity.
  7. Old Mr Partridge: "Well, it's a bull market you know!"
  8. I remember a story about the trading group at some big brokerage firm. They always had a meeting before the market opened each Monday perhaps it was daily(?). Anyway, if a trader was holding a losing position, he had to justify and explain his thinking to the group. They didn't like doing that, so losers got closed out before the meeting. Probably saved them $TONS!
  9. randy33


    I should hold that meeting with myself everyday before open too.

    I daytrade so any position not closed has something wrong with it unless itsa late-day acquisition.
    #10     Jul 21, 2009