This is right on the ball. A lot of trades that were great back then I lacked the confidance and experience in 1997 to pull them off to full degree. Having a nontrading job didn't help either. This time I'm cashing in. Seize the opportunity. I think a lot of people on here are fairly new traders, they don't have any experience from the 1990s. The market crash of 2008 is fresh in their mind and they want a repeat and so called "easy money". If only they'd experienced the 1990s they'd understand the proper route to making money in today's bull market.
@ the other side : If u make money , u should think from whom exactly u r making money , check the table at the end of the doc please , and tell me where "clear repeated setups" fit ... http://www-bcf.usc.edu/~lharris/ACROBAT/Zerosum.pdf
I'm a skilled Technical trader who trades clear repeated setups several times a day. The traders who lose to me when trading the same time frame are Unskilled traders. Here are several setups I traded Friday that I trade day after day with net positive results: Ascending triangle breakout - Long entry above the fixed resistance shelf, following a move back up to previous resistance off lows. Target: break above the overnight high, fulfilled With-trend HL (Pivot off higher low in an uptrend) - Long entry above a pullback bar's resistance level. Target: Break of previous pivot high, fulfilled. Counter-trend RTM - Short entry off a 4th strong leg in an uptrend, wait for lower high to confirm. Target: pullback to, or break down thru, 20-bar moving average, fulfilled TL support - Long entry off confirmed support at the trend line in a symmetrical triangle formation. Target: Symmetrical triangle breakout to a new daily high, fulfilled Here's a site where you can study simple effective technical setups: http://www.daytradingcoach.com/daytrading-technicalanalysis-course.htm Great stuff.
Good for u Now u profit from : Uninformed traders ( unskilled traders ) And you lose to : value motivated traders , Informed traders , Bluffers . This what is meant by look who is on the other side , u can make money on these patterns but u have to look behind the patterns , filter your setups , make your strategy dynamic otherwise u will end by losing to traders mentioned above .
Why? What is the point....I know what works and has been working for many many years now, through bursting bubbles to low volatility to more bursting bubbles to high volatility. Whether you want to believe it or not, there is an underlying crowd behavioral dynamic that doesn't change. And this is exploitable day after day after day. I don't care what some professor of finance thinks, he doesn't live in the same trading world as I do.
watch for traffic before crossing the street,very seldom will there be an oncoming bus at a trendline
I really do not think about who is opposite me except to say that I front run other traders using a parasitic approach which was modelled and developed in the years 1957 to 1960 I am told by those who stand on my shoulders. My clear repeated "setup" keeps me in the market all the time and on the right side of the market. I do pool extraction profit segment by profit segment using one and only one pattern's order of events. (a hold/reversal strategy). All ATS's are fixed rule based as are mine as they apply to various auction markets. Thus my category is parasitic trader and I have a scientific orientation. You can confirm in the table that no one out trades me by any means whatsoever. Larry Harris A Tucsonian as is nodoji) is a very reliable researcher and ex admininstrator having lead the SEC. The SEC has tangled with me and they have apologied for the mistakes they made for citing me as an inside trader. As pointed out to you you are stuck. You believe a collection of myths as stated in your OP. I empathize with you dilemma and that you cannot recieve input from those you must learn to repsect. Reread Larry's paper 10 or more times and grow up. I promulgate one paradigm (PEP) and its applicatiions: PVT, SCT and SSR. It is based on principles and deductively proven.
I have no problem losing to anyone because I lose less often than I win and again, in case you didn't catch it the first time, my max loss is half my minimum gain. Surprise: Do you trade for a living? Do you believe it's possible to trade without ever losing? (Don't laugh, guys, because there's at least one ET member here, dejavu, who believes this.) Do you understand that "edge" in trading means any advantage that produces consistent profitability? Are you aware that you can have a win rate of 25% or less and make a good living trading?
What r u talking about ? There is no dilemma for me and there is no disrespect to anyone here including yourself and nodoji ... Your strategy is not static clear pattern on the chart that everyone could follow and make money , there is no such thing . You r faster than others u know what u r doing . Regards .