Who's consistently profitable on the monthly basis, what change made you go from red to green? What change in your strategy made you go from red to green? You don't have to be making millions, but what change took you from losing to winning, even if not winning by much?
A preacher concludes his service by saying, "Next Sunday I am going to preach on the subject of liars. And in preparation for my discourse, I would like you all to read the 17th chapter of Mark." The following Sunday, the preacher says, "Now, all of you who have done as I requested and read the 17th chapter of Mark, please raise your hands." Nearly every hand in the congregation goes up. The preacher continues, "You are the people I want to talk to. There is no 17th chapter of Mark."
You are the first newbie I've encountered to cut thru' to the bottom-line immediately on arrival - that's good. With such an opener you would get not only the LIST of winners but also their strategy - for to go to green they gotta divulge the red first So far so good. Now apply a filter to the opener = at least ONE preferably a few, better still many - posted trades HERE in real-time - this filter will eliminate all the arrivals from the Salvation Army and Govt. Food Stamp Division in one fell swoop. A supremely competent filter it is, none like it really. Then sit back and just read those and be done with the entire course in under 10-minutes. Needle in a haystack? Yeah You're on the right track - be demanding
The FILTER: would chop this one up and spit it out for you to review. Then you decide (note: I have neither the time nor inclination to check this stuff out further, so disgusted I am, but what I see in the opener is a red flag immediately) opener post of a total of 169 pages My ______ will be light on specifics of what or how I trade, but don't be offended if I don't answer your question about what time and price did you enter this stock and why did you exit? with stuff such as the above one can understand why Technicals are preferred - all one needs is open,low,close,high,vol, and nobody fudges these because they know all technicians are stupid losers, so it remains the only TRUTH in the market - all else is fraught with bs, innuendo, lies and mumbo-jumbo as in Enron being a "buy" all the way to near zero (whereas a simple trendline on the weekly would have gotten one out near enough to the top and to safety). Six months later you would show that chart to one's wife and kids with the rent easily paid, great healthy food served with ease and stress-free, and the picture in your wife's mind of you would be: Open\high\Low\close\Vol = everything can be derived from these except for acts of God and George Bush
Where is the thread at ? Over the years I have never seen anyone dared to do it on any forum, or when they did they showed themselves to be convincingly successful.
I'm not exactly a newbie, but I definitely am new here. I just thought it would be an interesting topic, but I doubt many traders would honestly divulge that information.
Why should someone tell you their secret sources? It is aka you go to the top restaurant in the town and asking them to show you their recipes so that you can open another similar restaurant across the street, and with the risk that you may share this recipe with your wife, best friend, school mate, bartender, girls you meet in pub, your kid's teacher or putting them in free internet forum. The chance is there will be another ten more restaurant selling similar products open in the town in the near future. Tell me what you expect the restaurant owner will tell you ?
Because conversation is what forums are for, I'm not expecting anybody to though. I thought it'd be an interesting conversation though.
Not at all. The secret to trading was disclosed years ago by Buzzy Schwartz, who incidentally used to post here, in his book Pit Bull. Paraphrasing, he said the secret is to stop caring about being right or wrong. Only care about making money. That will free you to take the small losses that we all know we should take but which our egos get in the way of taking. It's one of those ideas that is brilliant in its simplicity, but you probably have to have some experience to get it. Personally, there were other insights that came over the years. Probably the most important was to only trade in the direction of the next higher time frame. If you're daytrading 5 or 1 minute bars, only trade in the direction of the 60 minute. Will you miss some profitable trades? Yes, but you will miss many more losers. For a new or unprofitable trader, backtesting can be crucial. You probably won't discover the grail, but you will learn what doesn't work. You will also see the effect of stop loss placement, which is crucial. Another important concept is MAE, maximum adverse excursion. If you backtest a system or entry strategies, you will find that there is a point of no return for most losses, ie MAE. After going against you that far, they seldom come back. For a discretionary trader, unfortunatley there is no substitute for sitting in front of the screen for a few years and absorbing lessons. You learn the power of levels and important pivots. Good luck.