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How did you decide on your trading strategy or method of trading?

  1. I spent over a decade on a market making desk at a large American bank (fixed income). I'm lucky enough to have the support of my wife, time and capital to give this a shot and trade for myself for a while. In all likelihood we'll be relocating back to the Midwest to be closer to family for the kids which also play into this decision.

    How did you decide what the right trading strategy for you was? How did you know what type of trading would suit your personality and give you the best chance for success?

    Obviously, I'm in the early stages here and I want to be able to focus my efforts on the right things. I'm initially splitting time between learning Python and getting my feet wet here. I mostly envision a systematic trading strategy because that would seem like the easiest thing to backtest and get quantifiable results out of it. My current lack of knowledge of trading platforms and tools available are probably contributing to that belief. Any suggestions on resources would also be much appreciated.

    Any and all advice or criticism is welcome but this is my first post so do be a little gentle on me! I look forward to becoming an active member of this community in 2018.
     

  2. Briefly, I read textbooks, deliberately avoided online "information", discussed with successful traders I already knew, learned how to backtest as reliably as I could, and practiced a lot on demo/sim. I said more here, albeit in a slightly different context, if it helps.



    I agree, and I think you make a very significant point here, that relates directly to "objectivity".

    And welcome to ET. :)
     
  3. Maybe start your your focus on CME Interest rate products, 5Y,10Y futures and options. It see like a good fit for someone with a fixed income background.

    bob
     
  4. How did I decide?
    I let the market speak to me.
    It said:
     
  5. I like money. -- and risk. so I go all in in leverage products and repeat that daily.
    Compounding is the name of the game. go from crapping like a bird...to an elephant.

    High-Five` o_O
     
  6. I used to work with a guy that made a consistent 25k a day and then a few times a year would drop $1.5m. Boss man came buy one day and just shook his head and mumbled to himself, "that guy eats like a bird and (craps) like an elephant".

    I still crack up at that one.
     
  7. You don't know in advance.
    You look at different interpretations of what you learn from books,then you start working on your own concepts,but there will be little success in them.From frustration you will hit the wall and then quit.Only after again you stand up something inside pushes you in that direction and have this strong difficult to explain believe that answers must exist that's when learning starts,because only then you look at this with hunger to separate what is correct from all that may seem like is correct.So you go back to beginning and think about new interpretations of what now seems like effective learning.
    Better take notes and read them again some time in the future.
    You need to build your own logic as to what makes money in systematic way if you going to seek strategy to automate
    I am skeptical about learning anything of value from backtesting alone,you need to discover the logic.I was sitting with a programmer i collaborate with and was explaining the questions that lead to building something meaningful and i said verbally the questions that lead to what we build and all replies were "yes this make sense",Did i seen those questions written somewhere on the forum or in the book,no,not straight up questions.Proper questions need to be asked and answers researched for them later.These questions will come from reading a lot of material,experimenting and experience

    To make it short,strategies are not books on the shelves.Don't be surprised if you never come across one that has positive expectancy period !
    In quest to find out personality plays huge role.

    i am out,Good Luck !
     
  8. Credit or rates? I have to assume credit since if you were a rates trader, you would be punting CBOT/CME futures instead of asking this question here. Credit is tough, since it's not likely to get electronic and liquid any time soon. This said, you should have a reasonable enough sense for single name quality and could naturally fit into the equities trading space.
     
  9. Rates and in all likelihood I will end up doing just what you suggested but I'm not limiting myself to that for now. The one issues I see with trading note and ED futures around all day is that it's a big boys market and I will be at a very big informational disadvantage relative to what I was before. I guess there is a reason Bloomberg costs what it does! Perhaps that's not as big of an issue as I'm imagining but but it is a cause for hesitation out of the gate.

    At this point I'm really trying to get more of a grasp on whether I'll be better off focusing on charts, coding, both, something else entirely, etc. Initial thoughts are that something more systematic and rules based via programming eliminates emotional trading and allows for more testing and validation. There are certainly higher barriers to entry thought though, namely getting up to speed with python and working out the best platform to use.

    Anyway, I appreciate everyone's input so far. Definitely helpful.
     
  10. The only thing that remained after I tried everything that didn't work.
     
  11. :D
     
  12. Welcome to the board @Junky ! One thing to consider is do you want to trade intraday vs. end of day. Trading intraday has it's advantages with more leverage and potentially more opportunities but it comes with a huge opportunity cost in that you typically need to be in front of the screen during market hours.

    Good luck!
     
  13. With your background and probable skill in execution and risk management I would look at spreading STIRs/Notes/Bonds. You might not have the same informational advantage without BB chat but you might consider putting money with a broker you are well connected to retain that info flow and try to use another app like Eikon to chat via that and see if you can still get some information feeding through.
     
  14. I was trying everything, reading everything... stocks, options, futures, forex, investing, swing trading, scalping, arbitrage... trend following, reversion to mean... was also trading in a prop firm for a while. The probably only thing I never really tried was automated trading.

    I invested lots of time (years !) trying everything, trading this, trading that. But it was not for nothing. I learned so much on the way, what does not work, what has worked but has stopped working, what is working for a while... and finally, how you just grind it out, day after day (greetings to lescor :) ). Without tricks, without a special technical equipment, without a gimmick, without a loophole that might disappear any moment.
    Thats what I was always looking for: just trading by experience, by "having seen it again and again".

    Through all this trial and error I also learned very much about myself, which is also very important on your way to becoming a consistent trader. If you are kind of impatient, if you like action, it is hard to be a swing trader, just like in my case, so I turned into a shortterm scalper. I am sure that you can make good money by trading in so many different ways... swing trading, scalping outrights, spreads, momentum, fade... but you should find something that fits your personality, that you enjoy. Why ? Because otherwise, you probably wont stick with it. Some kind of discipline is nice, but dont force yourself to do something you dont enjoy/ understand/ accept for a longer period of time.

    So I recommend to anybody who is really serious about this (for those who are not really serious: better dont even start at all):
    - Get a good, general overview of all kinds of markets, styles, tools... read a lot, get info on forums and so on. You can accomplish all this in 3-12 months.
    - Now that you have a general overview, about what is possible and what not: ask yourself, what is the most interesting, most appealing and most realistic for you ? Take your time for this decision, but after you decide you should stick with it.
    - After you have made your decision: now you have to put in the real work. Like a boxer, like a race driver, like a football player, like a surgeon... it is all about training, just doing it. Again and again.

    Even if many say that the times of point and click scalpers are over... I must say I dont understand why. Maybe the markets were much better before I started this, and it was really easy money (Paul Rotter times). But in todays markets, you can definitely make a good, consistent income by scalping or shortterm trading futures.
    Trading that way in futures has so many advantages: transaction costs, liquidity, trading hours, taxation... and with shortterm trading, you can learn so much quicker than for example with (interday) swing trading. Why ? Because instead of 2-5 trades per week you make 10-20 trades per day. You will get much faster feedback, if what you do is good, or if it is nonsense. As a investor or longterm trader, you can do plenty of nonsense and still have a good year or 2. Not so as a shortterm trader. Very soon, after a month or so you will already have some nice statistics that will give you lots of valuable information about your trading.

    Ok, so you decide to get into this shortterm trading/scalping... how do you learn, how do you improve ? Again, by just being engaged in the market, by interacting with the market. Again and again, hour after hour. Day after day.
    Chose 1-3 nice, liquid markets, like Bund, FESX, ES, CL, NQ and ZN. Open DOMs and/or charts of your selected market(s)... and then just focus. I could now continue and write another page(s), what to look for in the DOM, on a chart... but this would turn into a neverending story. Best you can do is: find it out for yourself. Just like a boxer will improve with every round of sparring, a F1 driver with every training lap, so will you improve with every hour that you follow the market with concentration on a DOM and/ or chart.
    It is really pretty simple... but not easy. Like with most things in life. Dieting is simple, building a body is simple, studying is simple... but many/ most people just dont have the patience/ discipline to stick with these things. They become bored, they get depressed after 1 bad week or so. Thats why it is so important what I said before, that you enjoy what you do. Otherwise, you wont stick with it.

    Hmm, I wrote a long text now, and I hope some of it helps at least one of you guys/ girls. And sorry if some of it is not written too good, but as many of you here know already, english is not my first language :)

    Wish you all a good evening, have fun !

    Greetings,
    CALLumbus
     
  15. I would concur with fan27 here. Intraday in and out trading to me requires a different set of mental control qualities to be able to handle the multiple highs and lows that can occur as wins and losses occur during the day. For me setting orders at the beginning of day with automated combined stop loss and end of day exits is something I can handle better emotionally. So that is how I trade.
     
  16. Painful trial and error. Bought a ton of books on the markets, then on TA, then on trading. 5 days of classroom TA education. Joined 3 or 4 shareholder/trader groups to meet with. Shareholder visits to many companies to meet directors. Investor conferences, exhibitions and seminars. Lots of candlestick charts. Increasingly rare and strange Japanese patterns. Lost more and more money buying quality shares while the market was not bullish.

    Tried day-trading but too impulsive to stick to a plan. When it did work I instantly went to stupidly large positions. Did the same when it didn't work.

    More books. More discussions. More money lost. More strategies out the window.

    Finally I was left with trend-following. Highly asymmetrical risk/reward potential, regular opportunities to pyramid. Now regularly growing the account by double digit %.
     
  17. empirical evidence + good theories = good strategy
     
  18. Do you have a strategy that you developed or acquired from your market making days?
     
  19. Did stocks at first long term, too expensive in 1978 for day trading, still use about same method as I started as in long term stocks am a chartist off monthly/weekly, support/resistance. Then got bright idea in mid 80s to romp into Commodities, besides not marrying little blonde when I was 21yo, this was second biggest mistake in both day trading and long term, for next seven years, I found new ways to lose money, friends(became cave dweller) and every horrible parts(and there are many) of inner self during one of the biggest bull markets ever. All the money I was making in stocks, lost it and much more in commodities, until I learned how to program, this and hypnosis was one of the first keys to stop the draining of funds and self. Recovered all losses in 8th year, trade well in very long term commodities and eventually gave up on day trading and became a scalper. I have ventured into several different areas of trading, but always back tested ideas first, no guarantee that will do well in actual trading, but if you want to end up with 3 signals, make 6. Only took 39 years for me to develop a day trading system I can be happy.

    So, many might say different, but Ninja Trading offers free software and you can program it, test it etc and when you ready to go live, buy it. I believe Traders Lab is a good software as well, but I never used it, and eventually you might go on to Python.

    After all my time learning and still learning, you have to understand yourself and be very honest about what you can handle, first you want to study charting, many will end right there, but you can also add to help with TA, but more in directional and speed of price, if slope is very strong,might want to test less retracement to enter market and if slope is slight angle-might want larger retracement.

    There are so many durations you can try, longer means less trading normally, but whatever you do with exception of day trading/scalping, learn about options so you have say longer upsloping position and you can make little more selling options around your position.

    The more study you put into the markets, little easier it gets at reading the charts and making systems, but don't for a second think it going to be easy climb, if I had to do all over again, should just stayed with long term stocks and kept a job I wanted to do on the outside. You have to watch to not become a hermit, very easy to get caught into the dance of playing the game. At some point, you wake up and think "That's all there was to it"? Let me tell you, learning this is hardest thing most will every do in their lives.

    But automation the way to go, baby, don't have to sit there like a flipping clown all day long.
     
  20. I appreciate all the insight and advice as well as the effort and time put into your thoughtful responses. Thx again!
     
  21. I worked for a high tech company - the company stock was in a big channel channel, it was instinctive to buy at support & dump at resistance - repeating over & over - figure out you could time the market. Ventured into a few more high tech stocks when the first on-line broker opened - did real good.

    My friend that worked as a trader for Morgan Stanley turned me on to an entry level TA book in the mid 90's, I was all in. I did venture into day trading full time for 6 years, ironically with $ made from swing trading and investing only to lose most of it. Switched back to swing trading some 15 years ago - I will never drift again!

    Swing trading meaning holding positions up to months.
     
  22. I would rely on whatever ideas you've got from your pro-days. Lean on the knowledge you have and try some different things.

    When I stopped options market making, I found it very hard to change... but the fact is that lots of things will be different. I almost entirely stopped trading options and focus mainly on futures now.

    What I found was that I shouldn't trade too much... take your time and be patient. I used to try to trade lots, but since transaction costs were 10x that of my pro-days that meant profits where a lot smaller than it used to be. Tick-scalping is just a lot more expensive than with pro-fees.

    Information disadvantage is a problem at first, but you'll get used to it. The market still works the same as it used to, but your tools have changed somewhat. You just need to realize that... Also, be more focused on any losses and learn from it, losses in retail trading will have a bigger and direct impact since there's nobody to offset or hedge with on your team.

    Lean on your knowledge of the workings of the markets... that's your biggest advantage at the moment compared to other retail traders.
     
  23. As a fellow rates guy I will give you a slightly different take.

    I'm a natural spreader. I look at what is cheap and expensive right now. If you have longer term views (I have them, but do all I can to suppress them haha) then you should probably trade outright.
     
  24. Since you asked . . . :)

    I knew from the outset that I wanted something that was as closely tied to reality as possible. This pretty much eliminated newsletters, advisory services, opinions of whatever sort (articles, books, televised commentary and so forth), no indicators, no patterns, no candles, no other filters of any sort, just a record and display of prices paid. Eventually this led me to Wyckoff's approach, whether intraday -- which is based on tape reading -- or interday, both of which are rooted in trading price. This is not everyone's cup of tea. In fact, very few retail traders are interested in this. But it makes sense and it keeps me out of trouble. And it spots important trading opportunities, such as 1/2 and 1/16 on the NQ.

    Programming it is troublesome as understanding and implementing it has much to do with trading off other traders' greed and fear rather than whether or not some line crossed some other line. But it's served me well over the years, and I've never found anything else to match it. The fact that professional traders use it is also an endorsement and a plus. It is also extraordinarily simple.
     

  25. One of its key strengths and reliabilities.



    "And so say all of us" ... well, ok: "some of us" - albeit that I'm sure I apply it somewhat differently from you - but your points are well made, and (I hope) well taken.
     
  26. From my days as a market maker this approach feels like a relatively natural fit. I'm currently reading "A complete guide to Volume Price Analysis" by Anna Coulling which is exactly the approach you are talking about. It would seem this is very much @Xela wheelhouse as well.

    Appreciate the input.
     
  27. %%
    Lot of stuff+ time; i would do more junk silver but local dealers have such a huge bid /ask, LOL...... And IBD end of day charts.......+ Morgan Stanley related book =Market Maker's Edge. Not that i still use all those fractions LOL. But Nasdaq Market Maker's Edge 6 month candle charts help.Yes .But I seldom daytrade, even though his job required a lot more trading. I see Anna uses 8 month candlecharts, but that's in her investing book.....:cool:
     
  28. :thumbsup: Without that you are flying blind.

    Then string them all together into a trading method.
     
  29. The Holy Grail for me is to learn how to day trade profitably.
     
  30. I feel that most markets trade similarly. I see the same patterns in Equities as I see in fixed income.

    I find that that futures are a bit easier than individual stocks, largely because of gap/earnings risk...just my opinion.

    The advice I would give would be time frames...Longer time frames are easier than shorter time frames in my opinion.

    4hr charts are beautiful in my opinion. 5 min charts...it's just so short term, it's not for me. I would say lean towards longer time frames vs shorter if you are trying to learn.

    I trade Bond futures, Equity index futures, currency futures, US energy complex, Gold.... They all do the same thing over and over and over again. Time frame is most important to pick as opposed to underlying vehicle.

    I find that options are hardest to trade, direction ally at least. That's what I learned on, and I was below average. When I switched to futures, it became all too simple...kind of. Always hard, but easier than options in my opinion.
     
  31. After spending nearly 10 years on this subject the day came learned only one single logic that produces results.I think because i knew enough that in some strange way i was ready for it.This is what i think now,back then there was a lot of frustrations.

    And that's mainly because if everybody goes one way i go the other(not necessarily opposite).I understand short comings of this and I do like to fit in and "be one of the guys"( i learned from living in USA),but in solving problems i have this strong tendency to look at solution in unique ways.

    Yes ,around that i build trading method,but that wasn't easy by any means.
    Only because logic was solid i proceeded forward.
    First test did not look so great. I piled up signals and all of them were in a draw down and if i only rely on short term backtests i would not put any value to it and possibly throw it away.Only understanding that math behind was solid and logic was sound i started working on putting together a method.Basically it came from understanding that i if somebody told me better logic i still would come back to my own.In there was an answer to some difficult questions,it felt like it was mine and it was good.

    This is why i view that from backtesting alone it is very difficult to see something meaningful even if it was there.The believe in yourself has to be borderline crazy.Yes the results of the first test aren't great,but no,this will not shake me down.It was time to work on it

    There was no string them together,just building a method to the a single logic

    kind regards
     
  32. Welcome to ET!
    This is question that as traders we constantly deliberate with changing market conditions and changing life conditions.

    I see myself as a business owner and investor than a trader. However, trading is what a I do 7 hours a day, 252 days of the year. I manage two other businesses as a means of diversification, both from an income and mindset perspective. If I didn't have the other two businesses, trading would just burn me out.

    To answer your question, my path to trading was to become a long-term capital growth investor and short-term high-income trader. So after 20 months into trading (having known nothing at all about trading), I have aligned myself on a mix of short-term (2-3 days), medium-term (2-3 weeks), long-term (3-6 months) and very long-term (2-3 yrs) strategies using multiple instruments in options and commodity futures. The biggest influence on coming to this selection was reading Ray Dalio's blurb on investing in 15 to 20 non-correlated asset classes. Still not there yet, I probably get around 8 asset class diversification through my trading and my business endeavors and go after 20%+ alpha. There were more detailed books that I've used to develop each of these strategies.

    I chose options and long-term sector focused investing leveraging my skills in math and a certain industry and sector knowledge. There was an intellectual pursuit in this choice because even something as mechanical as trading, if not done with certain seeking of knowledge, I knew I would burn myself out.

    Hope to hear what decision you will come towards.
     
  33. Thank you sir.

    As the world's best known quality guru, Prof Edward Deming used to say: There is no substitute for profound knowledge.
     
  34. I am no sir,not to you,not to anyone

    This is not exactly best subject to pursue,because the more one learns to more difficult it becomes.More perceived knowledge forces to ask more problematic questions and spend all free time to try come up with some answers.

    signed Joe six-pack :)
     
  35. I started with Rocket Science for Traders, cycle analysis and trying out all the usual stuff in Excel, like trendlines, triangles, RSI, converting numbers into signals, you name it. This was the magical thinking stage of trading, where math should turn into some kind of magical profitable system, but never really did.

    None of that effort made any sense until I had a system that could backtest my ideas, starting from simple logical ideas about price, trend, volatility, risk of capital, etc. That system got too complex, needy of proprietary solutions and services, so regretably had to shut it down. A requirement now is that the system need to be standalone, 100% fixable by myself, preferably possible to diversify across instruments, brokers, platforms, though not gone all the way there yet.

    My next and current system is really many experiments using Golang and creating own custom code. It does meet above requirement, and can backtest and automate trading using same rules and conditions. If something doesn't even backtest well (not stellar, that's probably just bugs), how on earth do you trade it profitably once crossing beyond magical thinking-stage? I got a live system I tried to make simple, but it doesn't perform well yet and might be due to magical formulas not working that well in future, but, it should work somewhat if markets "lift all boats" - have to be patient as well, not risking more than minimum. The system did scale well enough both down and up though, and each part tested pretty thoroughly. But might be too many parts to it still.

    Simple is better, though easy to hear, hard to accomplish, or maybe some just lucky early on.
     
  36. First, my apology.

    Second, I beg to disagree. Trading without understanding the fundamentals of how financial instruments are priced, how the market works is like flying blind. It is true many here gave me a hard time for asking too many "damn" questions but how can I understand without finding answers to my questions?

    And yes, I do spend lots of time, maybe too much time, contemplating questions about the fundamentals of options, charts... and about why someone is willing to take the other side of my trade.

    Regards,
     
  37. No apology is needed

    In Budapest there is a Statue of Anonymous.Think about him as taking other side of your options trades :)

    KK.jpg
     

  38. He looks quite relaxed about them, too: not sure whether that's a good or a bad sign, for your own positions(?).
     
  39. When beginners ask which method they should choose what they really ask is what set of the right decision making would allow them to have a positive expectancy. What I propose is to work backward: Decide under what circumstances you should not take a trade or operate. For example, what type of volatility is not suitable for your risk tolerance and your capital. After you eliminate all the "NOs", you could focus on stuff that does work for you,
     
  40. When it comes to trading another aspect of utmost importance is purely psychological in its nature. Psychology refers to the way every trader perceives what is happening in the financial markets and how this perception can be influenced by emotions and one’s susceptibility to different biases.
     
  41. Are there some conclusions possible?

    1. We all trade using different approaches
    2. Multiple different approaches can be made to work
    3. Mostly we found a successful approach after trying multiple other approaches which we thought would work for us - and which didn't
    4. Most of the successful approaches we're now using are ones which we either didn't know about when we started out or which we consciously believed would not work for us

    If accepted, what do these conclusions mean for new and struggling traders? -
    1. Non-trading qualifications, success and learned tendencies are misleading?
    1. The approach is not important?
    2. Different approaches are not comparable using data like draw-down, r:r, win rate, % profitability etc.?
    3. Mismatched personality type versus approach type will predict failure?
     
  42. -----------------------------------------------------------------------------------------------

    I started trading options the first trading day of January 1998.
    I learned to create programmed mathematical mechanical trading systems. After several years I discovered the key to success for each system, was "forward testing each system for 1 year minimum."
    What I mean by this is: Lets say your system generates a trades signal for tomorrow,
    including the exact BL (Buy Limit) Price, SL (Sell Limit) Price & STP (Stop) Price.

    Computer Output Example:

    Signal Date: 01-23-2018
    SYSTEM: M25
    CALL=40-66-80=L5 PUT=10-10-10=L2 CODE: UA5W2=WP-2 RELIABILITY 6/7 (86%)
    OUTPUT:
    DIA FEB258P B1=1.35 SL=1.75 / B2=1.10 SL=1.55 STP=0.90

    If I was simply forward testing the above signal, I would have to follow it tomorrow
    with a Real Time Live 1 minute chart to make sure B1=1.35 occurred.
    If it did occur, I would then bring up a Time and Sales Report to make sure an Ask Price of 1.35 was available.
    Then after seeing 1.35 Ask on the T & S Report, I am now watching for SL=1.75 occur on the chart and confirm it with the T & S Report.
    If the option tanks after B1 (BUY 1)=1.35, Then I have to watch for B2 (BUY 2)=1.10 with the Option Charts and T & S Report.
    After the B2=1.10 Ask occurs on the Option Chart & T & S Report, again the same routine of
    watching the Option Chart & T & S Report for either the new Sell Limit of 1.55 or the
    Stop of 0.90. This can go on day after day for a Time Limit of 4 days.
    Its time consuming and a pain to test that way, but in the couple of decades I have been doing this, its proven to be 99% accurate.
    On the other hand I have found Back Testing to be about 70% to 75% accurate.
    That means a Back Tested system generating a W/L of 90%, is actually about 63% to 67% accurate. There is simply too many unknowns in Back Tested data!
     
  43. Wow, lots of work indeed. May I ask why not just try trade live with one contract instead(maybe under separate account)? Were you testing more than two strategies/variations at a time? If so, how did you decide to give up on strategy or did you always give it about a year? Appreciate you sharing your experience.
     
  44. --------------------------------------------------------------------------------------------------
    If I get 3 months of success forward testing I then start using 1 cash contract to continue forward testing. If 6 months successful I go to 2 contracts, 9 months successful 3 contracts and 12 months successful I go to 5 contracts. I keep adding in an additional contract every few months of successful testing and trading until I hit my comfortable limit.
    I have 6 different mathematical mechanical systems that are computer programmed since 2004-2005. Four of the six systems continue to work well in various market conditions.....i..e.....uptrending....downtrending...sideways...choppy, with each having its own particular strength in different market condtions. Those 4 are my bread and butter.
    2 of the 6 systems have stopped working and I no longer use them.
    I am currently forward testing 1 additional system that I started in October 2017. It is designed specifically for this current bull market which has made getting filled at a discount to the closing price difficult.
     

  45. Please stop pasting in, unaccredited, chunks of text from articles found on the web, and trying to pass them off as your own "forum posts". [​IMG]

    (If you think they're valuable, relevant and worth sharing here, there's nothing wrong with doing so with a link and an accredited quotation. That's "fair usage" for the purpose of commenting, and isn't legally a breach of copyright, but what you're doing is.)
     
  46. Get him!!!:thumbsdown::D:sneaky::);):p:cool:
     
  47. I am doomed! If my counter party is so calmed and relaxed, I took the wrong side.:banghead:
     
  48. ----------------------------------------------------------------------------------------------------
    Following through with my forward testing example from last night's signal of my newest system which began on Oct-2017:
    This latest system has been successful for over 3 months, so that means I go from tracking
    the Real Time 1 Minute option charts and Time and Sales Reports, to actually forward testing with 1 contract (as explained in my second post above).
    I initially set up a bracket order for BL=1.35 SL=1.75 STP=0.90 and wait at least 15 minutes after the opening to press transmit (on some odd ball openings I wait 45 minutes after open to enter).
    When I pressed transmit the market was tanking fairly good and B1 filled at 1.34 at 9:48:59.
    Shortly after the option tanked to 1.22 (of course) at 10:02:47.
    The market started reversing and as selling increased the FEB258P rapidly increased in value in "jumps upward" and by 12:41:01 the Sell Limit of 1.75 filled at 1.77.
    The High Bid after my Sell Limit filled was 2.00 (of course) at 13:23:55.
    Note: I have been trading with I.B. since around 2000 and the wonderful thing about them is I have constantly gotten price improvement both on the Buy Limit and Sell Limit on a rapidly moving market day.
    In conclusion, this new system is working out well so far after 3 months and 24 days,
    and its even catching the intraday market reversals, like today.
     
  49. :thumbsup:

    I think people should use notes when they reference other sources, at least acknowledge other peoples writing skills!
     
  50. I think you know once you stop losing money. Emotions never worked well for me, although I hear success stories about "artists of trading" all the time. I always lost money trying to find and trade patterns on the stock market. I'm from an Assets & Liabilities Management background. Statistics & rigorous risk management are the only thing that work for me.
     
  51. Well the name checks out then! ;) Thx for chiming in.
     
  52. How do you know it is not his/her own words?
     

  53. I've read enough of her own posts to know at a glance when something's just pasted in - and that nice Mr Google obliges in a second, when you check out a sentence from it. [​IMG]
     
  54. Whether he is calm or relaxed is left to interpretation.Anonymous is looking at his notes.It doesn't make any sense to give knowledge away.Not one bit of it.
     
  55. Now I know why you are a good trader!:thumbsup:

    Best wishes.
     
  56. Just like in the game of poker, anonymous already gave it away.

    Thank you for the coaching.
     
  57. Coaching,teaching,I would never do that.You can't teach this kind of thing.
    I say nothing beside suggestion to get creative.
     
  58. That in itself is coaching. You are telling us not to follow the herd, create our own trading path.:D
     
  59. The solution is simple: you use what works.
     
  60. Finding a good mentor is not an easy task, how we can trust someone who has trading skills.!
     
  61. By observation and testing, not unlike the process if you didn't have a mentor.
     
  62. How is anybody going to find a good mentor? Tell me the process, where do I can get a good mentor?
     
  63. i could see the stars come thru my room
     
  64. feel it out.feelings would be the sign:finger:
     
  65. Hope that can happen in reality tooo....:sneaky: