Is this grail like for today. First two hours (9:30 to 11:30) and last five bars of the day not included because it would be too freaky. This is only 11:16 to 15:48EST market time. So the time off set is 4 hours. That is when you see 7:16am it means 11:16am. At the time of the trading the spread was 1034.0 to about 1040 or 6 points. What you see is just taking an amount equal to the H/L using 1 or two contracts. Othes will see if it is a demo or not. It is not is the correct asnwer. This trading is in the part of the day where volume is low. Since it was done with a person usinG his account for its first day of operation, we all can concluse it is all luck. This only represents an annual net income of 55,000 a year. Try adding the beginning of the dya and the end of the day to this and see how much this beginner might do. Lastly, give it a holy grail review and see how lousy this is compared to all the holy grails out there.
Hypostomus, you've achieved, as you call it, the 'Holy Thimble', your weekly earner, right? And as you've already come by way of faith, equanimity and learning, are going to go on the trail of the HOLY GRAIL?
Grob, Could you do a re-post with a markup of the groups of trades, like you did with the Wednesday post? Still trying to understand how this works, using Wednesday's postings info and today's. I watched the IB numbers today for quite a while and saw some of what you were saying, but certainly not enough for me to attempt anything. This is all very interesting but pretty confusing for a new guy like me who is used to looking at charts with indicators but not the tape as it were. Thanks, jd
having the holy grail is about you perceiving the market correctly. that means having a system that basically captures the daily price movement. i have developed a system that does this, so do i have the holy grail? to find this out, you should ask yourself one question: am i as a trader capturing consistent profits from the market by perceiving the market correctly? how much you make is really irrelevent (or at least it should be!). i have a sharpe ratio of 3.6, average duration of trade is 57 minutes, avg. winner 34.79 cents, avg. loser 9.67 cents, with a %win/loss of 69%. it does the job because i perceive the market correctly.
...is it not? I'm kidding, of course. But I have received a number of e-mails from people saying "I've attended a WT seminar, what do you think? Should I buy the product? Is it really as simple as 'green/red light'?" I smile, tell them that they'd be better off learning how to trade on their own, point them in the direction of 'MACD' and 'Slow Stochastic' (hint, hint), and wish them every success. Actually, come to think, WT IS the Holy Grail for some. Hmm. Anyone wanna buy a system I'M designing? It flashes a lovely strobing blue light on your monitor when a 50 day MA crosses above a 200 day, and flashes an ominous mauve light when the 50 crosses below again. I'll sell it for a measly $1000 each. Takers?
Get some late-night infomercials going and I'm SURE you could easily start selling that system -FastTrader
Trading description is attached. L3a is a scale in to capture the trade L3 that went south. S9 was a scale out. Since the day could be considered flat for this part of the day, we were practicing reversals primarily. I use reversals to stay on the right side of the market. Usually the flip is also preserves profits. If not the flip is within a tick of the prior entry. The H/L was about 6 pts but we were trading in a smaller range than that; we just used 2 1/2 points of the total range midday for practice.
I've seen some of the infomercials. Astounding that anyone would actually jump on board to buy a trading tool that's marketed in such a way (geez, I guess the old Ronco and Popeil products are just fiddling small potatoes these days--back in the day one could buy a 'Pocket Fisherman' for less than $30). Somebody sure as heck is making money; I'd love to know just how many novice traders have leapt into the shark tank, armed with their WT, thinking 'gosh, this isn't as hard as I thought!'? Well, I may start my own infomerical: I'll wear a spiffy suit and talk about how it's as easy as 'strobing blue/mauve lights that cause seizures in epileptics'. Want in? I'm looking for partners....
You're welcome to use my Ferrari in your infomercial, but I would need a 50% stake just for that -FastTrader
That's cool! Seriously, it still astounds me that this craze has taken such a hold. I guess 'we're ALL daytraders now'. I thought this sort of thing was only supposed to happen as speculative bubbles peaked, when even the shoeshine guys are offering hot stock tips and whiling away their free time on the phones to their brokers....