Another thing you lecture too much for a young man. Next do you have the guts to call the trade before hand like Baruch, and make as much pips? I am asking you. Baruch told Random Trader his way is risky, he has every right to say that stoploss is very important. Trend is your friend, all the biggest CTA are trend followers, so, Baruch is with the right team.
Ah, good to hear about Baruch. Soros not left-wing? Well, he's a million miles more left than Bush for starters (just about anybody is, that dude is essentially a national-socialist rather than an actual Republican, anyway). Here is something about Soros' attempts to get Bush out: George Soros, the billionaire financier who is MoveOn's most generous benefactor (in November, he gave the site $2.5 million) has compared the Bush administration to the Third Reich. Soros, who was born in Hungary and grew up under both Nazi and Soviet domination, told the Washington Post last November, ''When I hear Bush say, 'You're either with us or against us,' it reminds me of the Germans.'' He added, ''My experiences under Nazi and Soviet rule have sensitized me.'' Soros repeated his accusations in his new book, ''The Bubble of American Supremacy.'' He donated $2.5M to www.moveon.org - MoveOn is about as right-wing as Counterpunch or the typical Greenpeace activist - LOL! Apart from that, Soros spread another $10M all over the place in a huge campaign to get Bush out, and is encouraging others to do so, too, "in the best interest of saving America". "Getting rid of Bush has become the central focus of my life", so Soros. In America, there's a big bunch of Republicans that don't agree with Bush. Here in Australia, there is equally a big bunch of "Liberals" who don't like Howard, they have even founded a new party, "Liberals against Howard" over here. Think about it man. Every anglo-western head of government has made a huge leap to the right. Bush went literally nazi with his accusations, references and actions, and so did Howard (we pride ourselves with concentration camps in the Australian desert, for the purpose of immediate detention of illegal immigrants, they stay in there for years under terrible conditions, perhaps never get out again), Tony Blair, who's supposed to be left-wing, got drawn in by Bush's lure of power and greed and also moved way right... Hello? What planet are we on here?
I never said that adding to "losers" is OK, and I don't trade without stops. You just don't get it, do you?
Well, I've written you a decent and thought-out compilation of questions regarding backtesting etc. Apparently you're still in complete denial of it, you haven't answered (obviously because you know I'm right on it). You can't effectively backtest news trading, so you're violating your own mechanical system, period.
Soros can't be compared to what we do. He is a fundamental trader, not a technical one. He holds positions a hundred or a thousand times longer than we do, so he has a very very different reference base. His style of trading borders on investing. Plus, he is a huge player, and has power to move the market with his buying power and opinion. It's tough trying to copy Soros. Enough ppl have tried, and failed.
You say 95% of all traders trade like me? R-O-F-L! More like the other way round for you Baruch. You really haven't learnt as much as you think.
Hi Scientist, Why so angry? We are here in this wonderful forum to learn from each other, share ideas - and have a good time with other trader-friends. No, I can't becktest news trading - so why try to do it? Anyway, it's only price that makes my systems signals, so news are only important regarding to exit. And I have no rigid rules for exit.
OK, compared to Bush Soros is left-wing. We all are, I suppose? I have read all Soros' books, and I think alle traders should do that. But he's not a good writer. But I like his fundamental approach. Does he use charts? I don't know, but he does'nt make his trading decisions based on charts. That's for sure.
Hey Kev, thanks for the comments and recommendation, I might look into it. Yes, I commend Baruch for bringing his system forward, but he isn't trading it. He gets tangled up in trying to play news-wizard. It's good that he is successful right now. But please don't forget that with the current trends, even a 9-year-old can trade forex, as has already been pointed out. It sounds mean, but it's true. If Baruch continues his inflexibility into a period of chop, he will run right into the gunfire. I'm not gonna use rubber tipped spears here ... Baruch is consistently evading the objective and truthful evaluation of my valid arguments on system parameter violations. P.S: Yes, I meant Pavlov's... Wow, did I say Pawlow? Far out, must be one of those eye-bugs...