exactly market surfer.. i am not saying it is impossible, since statistics "prove" otherwise. but sticking to a system is eXtremely difficult, no matter how smart/easy/profitable you thought the system was when you set it up...
Lol - Takashi Kotegawa is a name I have heard for a very successful home daytrader. Kinda wipes the floor with your partner in crime.
Most people sweep their account t a certain compouned level, Then their sweepings, successively are put into other accounts In this thread you can see I keep 100 contracts rolling and I go for the 3X ATR daily. (SCT) In the original unfettered version of he contest the annual return compounded was 7.2 million. Then I go to PVT with 12 streams @ 100,000 shares. Google the 17 point gain on 100K shares as a top trade on a day. I sweep out of that regime into SSR which is slow and unlimited in capacity. Putting various restictions on taking the full offer of the market is not a good idea. Optimally a person knows he knows bar by bar. Since I am risk adverse, I require myself to use a system (SCT) that knows the trend last turn is comin @ the n-1 turn of that trend segment. For PVT I enter late and leave early to optimize cash flow. Capital doubles every 28 to 42 days. In SSR it takes 4 1/2 weks to make 10% and several days are requyired to move in and out of the holding. (multi million dollar holds).
The above are examples of luck. Being lucky is helpful; I am luckier than these guys, at least. All my life I have been at the right place at the right time. In another thread bighog returned the thread from who you know to "edges" so I posted a bunch (less than 20). Losses are not a requirement of trading. Serious scientific and math competent traders only use complete systemic approaches. Monitoring and analysis replace "following". Now replaces predicting. Hold and reversal replace entry/exit. The independent variable provides signals for taking the full offer of the market on the dependent variable. Only the mathematics dictated by the markets is used. A fully complete paradign is deployed and from that foundation all the building blocks follow the deductive logic theory of Carnap. Behavioral Finance explains iterative refinement as five steps. those who reach the spectrum of holy grails got there by working and using iterative refinement. The system of operation of the market has no noise, no flaws and no anomalies. Incomplete work does. Instead of starting with whatever money, start with the minimum. Double it and remove the initial capital. Start over with only profits and never look back as you fully compound the profits. On a sheet of paper write down what you have: 1. how much money I will use. 2. the name of my fully complete system 3. the minutes I have in the evening after work to begin to do trading. 4. the time of rth when I will call my brocker every day to place my orders. As you see, you are not allowed to trade as yet. ET members have posted many complete systems that work. Mostly, they have left ET. Gradually their sucessful systems are being deleted from the archives of ET. You can read the transcripts from the ET chat room to see the live trading in that past era. You have to search elsewhere to recover the past of ET. Once I posted the four systemic requirements of a Holy Grail. My post ws deleted within an hour or so. LOL ....
Why would it be extremely difficult if you drummed up the system from years of experience on the battlefield? Do you believe it is possible for someone to muster together all of the past trial/error experiences and distill something regarded as nectar for the final plan? I hope you can answer yes to these questions because if you can I will say there is a future in trading for you. Do not be negative, be positive and you will free yourself to greater days ahead. PS: The good news, actually great news is that I am not doing anything new, it is old and tried/dried by many others. I will give you this though: agree, failure in a loser game is just like it sounds "failure to believe, failure to implement, failure to steel yourself and soldier on in the face of possible defeat. Do not defeat yourself before you try like a soldier dodging real hot lead. There just might be a select few that are tough enough to win in this game, they are thinkers with a understanding what works and what does not. Is it true that a normal retrace in a defined trend is nothing more than a time-out so some can book profits after removing money from the wallets of others? Retraces allow the reloading of wallets so once the trend continues on, they can also lose that money unless they switch sides... :eek:
Hi Jack, can you please explain how bar 2 can be a T2P when volume is less than bar 1 - thanks in advance.
Here is the monitoring and analysis sequence. 1. The open from carryover is short. 2. Bar 1 has price permission to measure so a Repeat is true on the P2 carryover. 3. as bar 2 begins, you have to wait until permission to measure is given. This happens when price becomes an XR. 4. The volume test begins by checking for a repeat of P2. this is an F (false). 5. then the volume test proceeds to part 2. this is the reverse chrron test. You move t the left on the log and find T1 is false. then you go to check the P1. It is false as well. this completes the reverse chron part of the volumee test. 6. as you see in the log there is an path followed by the volume part of the log. You have three F's for the primary of the trend. With this accomplished you go to the NEXT available element in the trend volume sequence. It is T2P where the path ends. 7. The modrian table is checked for a c turn EE that is T2P oriented. Prior to that the three cheat cheets for EE's are examined. If using an ATS this is done quite quickly. The trend is in a continue modus so the bar 3 is examined. The whole logic system of this approach uses the all F's (negative logic) to be able to move ahead in a trend. thanks for the question.
LOL It is just the essence of trading... Way too much chit chat on Elite Trader... instead of saying your system is so good just post trades..! or targets.. scalp/ ID/ swing.. whatever
mechanical results from yesterday. 4 items all live, no sim.. 2 hit target, 1 needed a single trade, the other needed 3 trades to hit TARGET AFTER it recovered 2 losers. 3rd was a chore to breakeven, managed +8 ticks 4th was a small days range, 4 trades = + 3 ticks Total = + 78 ticks, averaged value of ticks. This is a one time ticks number post to examine how even 2 out of 4 on a slow, SLOW dog day of summer can pay bills. ALL, PURE automated but not coded. Automated in my head that is, ha! Losing days will be very rare, VERY RARE with this well thought simple simon mechanical plan. The real test is working on a "best-way" plan to reduce STOPS, they will never be eliminated but I never give up on looking for ways to reduce the tick count from them. Like Patton said: "I do not like to pay for the same real estate twice" Might be gone for 3 weeks.......have fun guys. Trade well