The only difference between discretionary trading and mechanical trading for many traders, is that they like myself can not code the setups at least not yet or without help from other programmers. These setups can create a pattern on the chart, with the goal being to trade that pattern the same way every time. I spoke to a "discretionary" trader who with the help of a programmer who worked on his setups for 2 years finally coded them so they are now automatic. And yes, they now make profit all the time so he no longer needs to be at the computer.
From reading "Putting the Pieces Together", I understand that the entry rule is determined by volume breakout on RTL of short channel. Here, are you saying we could move the entry point at the end of 2R with peak volume of the short channel?
You asked a while back about the first and second chance. That time zone is what your post puts on the table in this post of yours. By reviewing the compound interest formula, you get to determine the importance of the three variables in he formula. Capital is least important, profit per turn is next to most important and the exponent is the most important. So we strive to enter late and exit early to make the highest money velocity of each long half cycle. You see that a person posts here about not doing proramming because of some reasons. To program all the alternatives for trading the pattern, use the drag and drop logic of Worden Bros. Programming the one pager took a person dragging those rules less than three minutes to do the logic for PVT trading. A Sharpe Ratio of over 60 resulted. Any stock trader is going to be making a lot of money using a drap and drop that takes 3 minutes to complete. Look at some handicapped people on ET. Stoned cannot read an Excel sheet. T666 cannot code anything that makes money. Every sentence od asiaprop is screwed up by the CW myths. spend some time yourself and deal with the three variabloes of the cpmpound interest formula. Look at TE post pictures of leaves and not understand the market P, V pattern. All traders can know well inadvance what is coming next in a market. We reviewed last Friday's ES this am and discovered that fairly soon in the afternoon a beginning trader could double his capital. We also reviewed that it was not possible to lose money trading as a beginner in ES. We looked at one simple mechanical pattern for assuring at no time would a trader have to be upside down in the market. We simply called the pattern used the anti-whipsaw pattern. For example, lets say a person cannot code. He speaks to a coder to explain anti-whipsaw trading. what does the coder do next? He goes to worden Bros Blox and drags and drops the logic so anti-whipsaw trading is part of the trading of the beginner trader. We did it this AM by simply skipping the coding and just using it all the time when it appeared on the chart. Everyone in the session this AM said that trading only involved staying on the right side of the market. How long can a thread get that is entitled "its all about patterns"... How long does it take for a trader to become skilled enoungh that he doesn't have losing trades and he is always on the right side of themarket? What changes a potential trader from a loser to an always winning trader? Obviously, it is his differentiated mind. All the time his mind's inference matches what he is seeing and he always is making money on his trading fractal by using his perception which is the sum of his sensing and his available inference. Listen to today's audio of our AM session. Does ET have the capability to handle audio?
Go here for a lot of stuff. thanks Ezzy. http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310&perpage=6&pagenumber=2110
Since a hurricane is potentially going to be in the gulf, I thought I would move the oil spill solution forward so someone can pass it along to the powers that be. Where is Art Deco when you need him?? No one seems to understand that pressure at the wellhead was the problem until the solution below was proffered. Eliminate the pressure problem and the problem goes away.
Wrong again Jack. Everything OF YOURS that I code loses money. For example: I tested YOUR concept as outlined in YOUR paper, "Catch Up With Tomorrow's Paper Today." Specifically, I tested buying YOUR "0 to 7 turn" (see page 8) on 1000 stocks from 2000 to 2005 -- a total of 5000 stock-years -- using spydertrader's code for the scoring and exiting 5 days later and got the equity curve below. Then I tested one of MY entry methods under the exact same conditions and parameters that I used for testing your "method" -- 5 day exits, same stocks, same time period, NO prescreened "universe," same transaction fees, etc., and got this equity curve. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2715590> P.S. If you're also talking crap about Stoned and asiaprop that means they're probably on the right track
Dr. Deco has the good sense to recognize accept and act upon his complete and utter irrelevance to ET by not posting unless provoked into it. Not that I am giving advice. Also I am busy trading.