"Be lamps unto yourselves."

Discussion in 'Psychology' started by Arthur Deco, Jan 2, 2011.

  1. With his dying breath Siddhatta Gotama gave this excellent advice to the world in general, but also to ET, I think. What it means is don't rely on gurus, on accepted wisdom, on the opinions of the masses. Especially on ET. Find the truth you seek your own way.

    Perhaps I am extra cranky from the Yankee cold now gripping God's country. But it seems to me that this week has seen more than the usual number of bleating posts that begin with "I have this great setup, but I don't know..." They don't know more than they don't know. Because if they can't discover statistically by backtesting what the best entry stop strategy is, or the best type of profit taking, or whether or not to reverse on stopout, or to reenter on apparent trend resumption, then they don't know for sure that they have a setup. They certainly cannot dignify it by calling it a system.

    Why do the lambs bleat piteously into the toothy unpitying maw of ET? Are they stupid? Probably not, if they have survived long enough to have found a setup which appears to be profitable. I think they are just lazy. The lamps lighting the path to truth are there for all to see. ESignal, Tradestation, and the like.

    Relative to the easy money to be made, those tools aren't at all expensive. But they require you to do things that hurt your head. Unambiguously describe your setup in logical English. Convert that logic to an algorithm in words. Code that algorithm in trade code. Postulate exit strategies. Test them. Oh, the pain! But the pleasure afterward! It's a bit like how good a dick rubbed raw from dry fucking feels when you come.