I wanted your opinion on this trendtrading genius.Should I buy his course /books ? sminars? I would like to ramp up my skills https://www.elitetrader.com/et/threads/trend-following-podcasts.236353/
I never read any of these books and never was at any seminar, so I cannot judge on this. But my personal experience is that: Real gems are never shared for free or sold. The real secrets go from generation to generation in the same family. It’s like wealth, that also always stays in the family. Reading books never brought me any interesting thing, it was just general information. Same remark for seminars. Only self study and thousands of hours working can bring you closer to successful trading. Inspiration and transpiration. Lots of trials and errors. Think out of the box. Logically this means that you don’t watch anything that is widely spread. Because widely spread info is how the mass thinks. So just the opposite of what you need.
I ABSOLUTELY LOVE THE LAST TWO, ESPECIALLY THINK OUT OF THE BOX!! The 2nd one about secrets in the same family is interesting...never thought about it like that...do you know of any specific examples? If not, that's o.k.
Very intelligent answer .words of wisdom market ranges 80% of the time , based on statistical data , it trends only 20 % of the time , 10 % up trend ,10 % down trend = 10 % of the time trade , 90 % of the time sit and do nothing. it is difficult to watch the screen and do nothing , how do u manage this?
If I may join in on this question. It wasn't easy, but I developed setups that wouldn't "kick in" if price action didn't have a good probability of moving one way or the other. With swing scalping, I don't need huge movement at all. I don't base my setups on "is the market trending or ranging". Just probability of, "will price push or pull enough when certain formations and price action develop". Yes, sometimes I get stuck with a market that doesn't move for hours while in a position. P.S. Very rarely do I not have a position going during the trading day.
Yes I know a few cases, but only 1 in trading. The others are in business situations. Like a man who invented a special treatment for diamonds. As nobody could do what he did his profits were very big as there was no competition. This procedure went from father to son for 3 generations. Same principle applies in every area where there is knowledge that is not available for other people.
very wise overnight moves ,weekend moves is what the market does not price in , it does not know the future . what u know the market knows, but during the overnight period , market does not know ,but only you can win over market , on close to open volatility Yes, sometimes I get stuck with a market that doesn't move for hours while in a position. i sell covered very short term options options , an edge .lovely premium decay , faster than Baron's sponsor's money coming in.
For me markets rather trend 80% of the time and chop 20% of the time. All depends of what you can see in the market. I have trades that go between 1 to (exceptionally) 40 points ES profit. Today is not very trending but I did already 3 trades. Yesterday was very trending so I did 1 big trade (+20 points). I have a mathematical system that self adapts to changing market conditions and tries to catch the maximum out of it without overtrading. So 2-3 trades a day on average. Yesterday I was mostly just waiting, but today I am more busy as the holding times are shorter. I have no problem with waiting to get in or out, because I know that the alternative will cost me money. So I learned quickly. Not being patient damages my account, so I have no other option then to do what I have to do. Which is most of the time: wait.