For me scratch trades piss me off the most. I just get this DUHHHHH feeling that washes over me. Maybe Im wierd.
Hi Jack I have questions regarding Bar 38 and Bar 39, ES 28JAN10 a) Top end of Bar 39 is higher than the top end of Bar 38; Bar 39 is also XB. Why did you mark Bar 38 as p2 ? Is it because Bar 39 decreasing volume? Or because the close of Bar 39 is inside Bar 38 and lower than the close of Bar 38? b) Does "having p2 be outside the RTL" require a p2 bar to be totally outside the RTL? Is it acceptable that "only the close" of p2 is outside the RTL? TIA
I think the question is only "nonsensical" if you feel that you have reached the height of trading efficacy and that there is no additional room for improvement in your trading. You don't necessarily have to obsess about either moves not within the realm of the system or actual losses incurred in order to recognize that there may be room for improvement one way or the other. I don't need to be told that losses are a part of doing business or that no matter how good a trading method may be, it will not capture every meaningful move. But neither do I need to remain complacent by believing that what I presently have is as good as it will ever get. I suppose I just thought others may have felt the same way.
Except you've never made a cent Jack and can't provide a track record.. in fact the only time you've gone on record was to lose 24% in a trading contest you didn't have the integrity to finish, you don't trade.. you just sit around all day making grandiose statements you've never been able to live up to
+1. That and you get choice between 2 stocks and you pick"better" setup only to find the one u didn't pick was the runner.
You seem to be missing the point. Nobody is saying they have a perfect system that can't be improved. They are saying that it's pointless to differentiate between the two choices you offer in your poll. Good to see Jack, ET's resident master of brevity, has decided to rock up though. That should help keep things on topic.
Perhaps "they" are right. However, I'm inclined to believe that the two issues are related in that, all else being equal, one is traded off against the other. And so, in the context of your post, the question becomes one of balance unless a new level of efficacy is reached. I suppose in that context, the question becomes two-fold, although I had not originally conceived it that way. First, are you satisfied with your trading strategy's losing trade vs. missed move tradeoff? And, second, if you were to improve your method, would it be more along the lines of trying to catch more moves, or filtering out more losing setups. In the first part of the question, all else is considered equal, whereas in the second, and originally conceived context, it is not. Either way, I think this thread is largely done.
J Hershey's stuff is fantastically profitable. Its so good he forces himself to "play it cool" and to live modestly by staying at his girlfriend's house. ( Who happens to work.) All the rest goes to charity. He is the real SHIT !!!! Dig it man.