I was listening to "Chat with Traders" by Aaron Fifield, Episode 52, an interview with Ernie Chan. Ernie said that there are a lot of places to read about strategies, namely trading magazines, blogs, and forums. I may be wrong but I don't think specific strategies are described in detail here on ET, and I expect people want to keep their secrets, but according to Chan there are other places where they are discussed in detail. Does anybody know of such sites, magazines, etc.? Thanks! Jim
I believe strategies are meaningless, even if someone would spell it out for you in detail; Trading is truly a craft...part art, part science. Give it away, and more than 99% of people wouldn't be able to replicate a successful trader's level of success using that same recipe or strategy. The only people talking about their's anywhere around the web are probably just trying to ultimately sell something.
Get a subscription to 'Technical Analysis of Stocks & Commodities'. I think the subscription is $80 per year or for $5 per month you can access all of their past material, tons of strategies covered and it is searchable. Every month there are strategies covered that is written by some of the best names in the business - includes the code for TradeStation, Metastock, eSignal, ThinkorSwim, WealthLab, Neuroshell, AIQ, NinjaTrader, TraderStudio, Updata, AmiBroker.
However...I would caution the OP that simply because a strategy is discussed in Stocks & Commodities, is no reason to believe that it will be profitable for him or anyone else going forward. I have never seen a strategy in the publication that backtested profitably on my systems.
LINDQ said: I have never seen a strategy in the publication that backtested profitably on my systems The back-testing on these strategies is shown in the magazine which often covers more than a decade, so that is just not true. They give all the disclaimers that historical performance- bla bla bla. These are raw templates meant for the user to customize if they like one. It is a lot more about learning coding and system design and picking up ideas from pros in the industry via the articles. They are not sugar coating things, in fact they flaunt the problems with each system.The publication is not about copying someones code and walking down easy street - any reader would know all this. I am hardly a system trader but needed to learn to code on several platforms to build custom functions/indicators/alerts/etc - their online DB had articles that helped me implement this quickly on several platforms. I stumbled across articles in their pubs in the past - one for volume breakout & another for breakaway gaps. That covered closely what I have been doing with stocks for about 22 years. I was kind of pissed it was in a magazine - but hey, they nailed some good strategies - the code was not given for these but the trade concept was spot on - in fact I picked up an idea or two for some fine grain tuning.
And a strategy that works(ed) for others doesn't mean that it's going to work for you. Everybody has different risk tolerance, capital structure, trade time frame and etc. And there are strategies of which their success is dependent on these specific factors. So you can have a strategy described to you in detail chances are you might not be able to implement it or implement it in a way that it is profitable for the person who created it.
JSOP, points taken, however, cromagnum explains what is good about seeing some strategies. I have bought some books on finance math, and that's cool, but I have the feeling I need to also be spending time just seeing some actual strategies to see what they are like, even if I don't use them wholesale. So that magazine sounds like a great resource for my needs. As well as reading threads here, and listening to "Chat with Traders" on youtube......both are really educational. I don't see a lot of in depth math discussion here and that makes me think that trading may not just be about sophisticated math.