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thesniper
Registered: Aug 2007
Posts: 72 |
04-07-12 06:37 PM
Quote from logic_man:
Think of the market as a dream. A dream has its own logic and when you are awake you might think to yourself "Man, that was a fucked up dream I had last night". Well, the market is that fucked up dream and unless you let it take you where it wants to go, just like that dream, you are unlikely to succeed as a trader. I don't know if I'm telling you something you don't already know or not, but what I am telling you is the absolute truth.
LOL......that was a great analogy.
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dealmaker
Registered: Dec 2006
Posts: 616 |
04-07-12 06:40 PM
Quote from logic_man:
Has anyone tried this and succeeded? I've developed an algorithm for the ES and have had 8 months of profitability with a gain of 196% and a max drawdown of 26%. I've been optimizing it and it could have been even better. Clearly, if I can continue at that rate, I won't necessarily need a job, but I'm wondering if I could land one using that as my "resume". It'd be nice to trade OPM, so I could put even more emotional distance between myself and the outcomes. Also, having the technical resources of an established firm behind me would enable branching out into other markets, which I am dipping my toe into now. The algorithm "should" work in any market which fluctuates, which is pretty much all of them, although, of course, that needs to be verified.
No chance whatsoever!
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ElectricSavant
Registered: Jan 2003
Posts: 14844 |
04-07-12 06:44 PM
logic_man,
I like this. May I use it in the future?
ES
P.S. Actually I am printing this out for my 3-ring binder, minus the handles. I use my 3-ring binder for inspiration and this is a hall of fame entry for it.
Quote from logic_man:
Never say never.
Seriously, who are you to dictate to the market what is and isn't a valid stop? Unless you are God Almighty, you don't have that authority.
I've also had initial stops 3.25 points away, so it's not as if they are all 50 points away to start, that was just an extreme example.
You have to listen to what the market is telling you, not what you want the market to be telling you or think the market should be telling you.
Think of the market as a dream. A dream has its own logic and when you are awake you might think to yourself "Man, that was a fucked up dream I had last night". Well, the market is that fucked up dream and unless you let it take you where it wants to go, just like that dream, you are unlikely to succeed as a trader. I don't know if I'm telling you something you don't already know or not, but what I am telling you is the absolute truth.
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logic_man
Registered: Oct 2010
Posts: 1489 |
04-07-12 06:57 PM
Quote from ElectricSavant:
logic_man,
I like this. May I use it in the future?
ES
P.S. Actually I am printing this out for my 3-ring binder, minus the handles. I use my 3-ring binder for inspiration and this is a hall of fame entry for it.
Glad to be of help. Getting over the hurdle to achieve this understanding of the market's logic vs. real-life logic was a key breakthrough for me. I don't put much stock in trading psychology, but to the extent that every trader brings something psychological to the game, this is the cornerstone of my mindset.
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