Rew, You ever print charts out⦠stick em on a wall and then look at it/them â from far and nearâ¦. Turn em upside down â just to see what you seeâ¦., Cover em up then run through them bar by barâ¦.. Do what if scenarios (what if I went long here/ shorted there)⦠Printed the same chart out in different time frames â then compared them Over and over and over Also try putting yourself in the place of an institutional trader - what would you be looking for... vs. a MM/ vs. joe blow trader (each are trying to do the same thing... but each have a different MO - and an Achilles heal ) If not â try itâ¦. RN
I was thinking of giving a little bump to this thread... It's not every day someone offers non-commercial mentoring on ET.
Thank you Mr Deco for the earlier responses to my previous questions, they have added a lot. Do you trade one strategy on an instrument at a time, or do you trade 2 or more strategies on an instrument at the same time? If it's several, then if 2 strategies give opposing signals at the same time, or suggest different stop-limit amounts, how do you decide which strategy takes precedence? thanks
I'll have to answer. In the wee hours (wee-wee hours?) Dr. Deco mistook the Everclear for the Tito's and is not in real good shape right now. He only trades one strategy on one instrument at a time. The best strategy of the five that appear to work en se moment. He and I go round and round aperiodically on the very issue you bring up. For the case where two systems trade every day, the answer is always as follows, in two parts. If the two systems agree, and you can trade more than two contracts, why would you put one on the better system and one on the worse? Of course, you don't. You roll your wad on the winner. If the two systems disagree, why would you fuck up the expectation of the better one by letting the inferior expectation system cancel it? The sole exception is if the two systems cannot by design be in play simultenuously, as in a reverse on stoploss, or a reverse on a stopped out reverse, or a....(Deco in his youth was enamored with the specious SAR system, and is always trying to make it work in a deviant form). The same illogic applies to three or more systems. For the case where two systems rarely or never pop on the same day, of course you trade both. But such systems would both likely unattractive, because neither would be trading very often. Win or lose, Dr. Deco likes to trade every day. Otherwise, why bother to sober up?
It's obvious that Dr. Deco earns enough from his speculations to get drunk everyday. A highly notorius achievement.
I don't share your condescending attitude. To me Arthur Deco's occasional references to how he spices up his evenings are an indication that he is one of the few people who are not embarrassed of who and what they are. if anything, this should command respect.
There was no sarcasm in my words. If he drinks as much as I do, he must be one of the top 2% traders in the world just to maintain his lifestyle. Good thing is I'm in a 12 step program during the asian session, so I do not have to perform as good as Dr. Deco to remain drunk.
Do you find that you drink sake during the asian session and switch to Jack for the NY session. An old Trader once told me that he does this, and he has no trouble letting go of the last trade. In fact he told me the biggest problem was hanging onto his chair.
You forgot the all important european session in which I drink either scotch or sherry, depending on the bad mood I'm in already.
My old Trader friend reckons that people who allow their mood swings to effect their trading are in no man's land. They are neither pissed or sober. He is constantly topping up with what ever comes to hand, to ensure a constant state of mind. Actually in his case I am not sure that "mind" is the correct word.