Arthur, whether or not you've already died, please answer my question: Less than a year into trading CL, I've been reduced to trading off a 1-min chart and cross-referencing a 10-tick chart. Being a strong believer in Kurzweil's theories, I fear that I may, in the not-too-distant-future, be reduced to trading off a 10-tick chart and cross-referencing a 1-tick chart. Then what?
Baron, Can we have an obituaries section where the dead, banned...etc handles are posted with a paragraph or two of their demise? ES
Mr Deco, thanks for your input a while back on how to tell if 2 strategies are related. From yours and others posts, I coded a tool that has been very useful to me. My next question, if I may be so fortunate that you might choose to answer this humble noob's question: how do you know when to switch between a large limit-small stop-low win ratio strategy and a small limit-large stop-high win ratio strategy? Thanks, and hope things go well for you
I position traded profitably in the late 90's. I know, I know, EVERYBODY was a genius then. After the crash I started swing trading. A disaster. Then about '01 I started trading futures. It is truly amazing how smart I thought I was and how much money I lost. But no more than the average schmuck spends on a hobby. I turned the corner close to two years ago. I got religion. I was saved. Backtested system trading. Am I rich? I'm posting here, aren't I? Deeply ingrained (ingrown?) loser habits die hard.
You are so cruel! Over 44 years of investing and position trading? Indubitably ah does make money. But futures trading? I may not live long enough to break even. But, shit! If not trading I would have pissed it away on other things. Slow horses and fast women. I started position trading again two years ago and have done well. Big profits watching the price of high dividend stocks rise. That game is over, now it's resource stocks. I know, I know, it's genius time again.
This persona is just one in a long string of handle changes to evade embarassment. I have actually been here since '01, I think. I should think that it would be patently obvious that in person I am unbearably obnoxious. Most old people are. The answer to all of your questions is simple. Yes, you should learn to backtest. Never trade unless you know the setup is relatively stable over time. Always know the stop loss and honor it. Take the system profit with no regrets if it goes higher. Know everything about the sadistical behavior of the system. Have a morning system that might run all day, and have an afternoon system for reversal days. And know how to identify range bound days before they become range bound. Easy, yes? You want code? You can't handle code! A money maker on a daily chart: //deadbandonedayhelperRevA var alpha=.04; var filtonlow;var filtonhigh; function preMain() {setPriceStudy(false);setPlotType(PLOTTYPE_SQUAREWAVE);setDefaultBarBgColor(Color.RGB(255,165,0));//orange setComputeOnClose(true); } function main() { if (filtonlow==null) {filtonlow=low();filtonhigh=high();} filtonlow=((1-alpha)*filtonlow)+(alpha*low()); filtonhigh=((1-alpha)*filtonhigh)+(alpha*high()); if(high()<filtonhigh && low()<filtonlow){setBarBgColor(Color.red);} if(low()>filtonlow && high()>filtonhigh){setBarBgColor(Color.lime);} return; }
pardon my ignorance..can someone tell me if this is TradeStation code? I wonder if he runs this on the ES? oh well... I guess that is for me to find out! ElectricSpoonFedSavant
Chances are that a good trader is busy making money and not mentoring for money. The only qualification I would want my mentor to have, is an audited return, but if one does and it is good...read above. You can't ask for qualifications if someone mentors for free. Probably you'll get a failed trader, but is the mentorship going to help you because it is free ? Elite Trader is an entertaing place, or a place to waste some time, but even online rules still apply. There is no free lunch. EVER.