Failure to understand risk/reward and why you're losing as a trader.

Discussion in 'Trading' started by Laissez Faire, Jan 9, 2025.

  1. :)
     
    #261     Jan 14, 2025
    HawaiianIceberg and ironchef like this.
  2. taowave

    taowave

    with your programming ability,it seems like you are reinventing the wheel...

    you would rather use yahoo data??

    i dont understand "millions of smart people mining those"??



     
    #262     Jan 14, 2025
  3. Risk management guru Van K. Tharp studied quite a few winning professional traders, and the best performers were rules based discretionary, then came rules based automated.

    It's an easy transition from bactesting to your heart's content and repeating the same concept with your human brain, which is far more powerful than some algo at recognizing patterns of emotion and intuitive factors not monitored by the coded system. The stumbling block is, of course, the human element (and spiritual, for me at least).
     
    #263     Jan 14, 2025
    taowave likes this.
  4. taowave

    taowave

    IMHO,best post on this thread

     
    #264     Jan 14, 2025
  5. Don't you have historical charts on your trading platform? I.e., yesterday and backwards? If so, what's to prevent you from starting at say January 2024 and scroll through every single day?

    Sure. Generally, when I speak about points, it's a on a per-contract basis.

    So that was 120 points x 3 contracts, i.e., 360 points total.

    Of course, that was a bit of an outlier day, but I posted a 70 point (per contract) short on December 20 in the ES journal. I had plenty of 30-50 point days last summer/fall.

    The challenge for me is when the market becomes rangebound or choppy. That's where a scalper approach has an advantage as there's literally always a trade.
     
    #265     Jan 14, 2025
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  6. ironchef

    ironchef

    If you live in the US, money is truly a small part of life.

    Those who live in poverty in LA live well when compare to people in Gaza, Sudan... Driving a 30 year old Honda Civic gets you from point A to point B as well as driving a Lambo.

    The people you try to impress with your Lambo and a mansion in Newport Beach really do not care. And when you are near the end, you will realize you truly cannot take it with you and there are nothing more important than your family and love ones.

    Take care.
     
    #266     Jan 14, 2025
  7. ironchef

    ironchef

    Because I cannot download TOS charts into excel datafile to run backtests and I cannot backtest dynamic movements, dancing ticks, how fast the tape moves, L2 dynamics, rhythms...
     
    #267     Jan 14, 2025
  8. ironchef

    ironchef

    I don't have any formal training in finance, or programming, I am old fashion, a dinosaur and a dumbass. :D
     
    #268     Jan 14, 2025
    toucan, Picaso and taowave like this.
  9. ironchef

    ironchef

    In that case I am doomed. Mine is intuition, movements, dances, rhythm....
     
    #269     Jan 14, 2025
  10. volpri

    volpri

    LOL sounds like me.
     
    #270     Jan 14, 2025
    Picaso and ironchef like this.