I've posted plenty of nonsense on this board through the years in learning how to trade. But I have noticed one thing here on the ET boards and the 'other' site: I really don't see anything remotely similar to my trading system / the way I trade the ES being posted anywhere. Mind you to say that I'm profitable now. My setups, what I look for in profiling the market, and what determines when I exit trades. It is rather fascinating, b/c I've heard so many posters who were consistant in the ES and other markets saying that that they won't give away their setups. Now that I have developed a workable system thats taken YEARS, its so easy with a laid out trading plan but at the same time, it took so long to get there. A lot of the system came from observations over time in which there were subtle repititions of PA. BUT, I see absolutely NOTHING similar to how I do it. This is a good thing, no ? I've taken bits and pieces of advice from many people and incorporated them, but I've seen any ET posters touching on how I do things. Anyone else have the same thing happen? I know I'm rambling, so dont mind me if this post is again nonsense.
if you do not say anything about your system, such as PF, sharpe ratio, how many trades in a day, and average holding time, etc, then it is rambling.
I use Classical TA patterns to identify entries on daily and weekly timeframes. Tons of others do also but entries are only a very small part of trading. Way too much emphasis is put on entries in my opinion. No one trades it with all aspects of their plan the same way. I bet I couldn't find one other trader who does it exactly like me. Contrary,my way of identifying entries on the intraday timeframes is not popular at all. Very few discussions about it. I like it that way otherwise I may be competing for fills But throw in the rest of aspects of the plan like exits, costs, trade management, money management, emotional management. on and on. Bottom line two traders don't trade exactly the same way. If what you do is working for you then keep on keepin on!!!
really ? For me the setups were the biggest part. Understanding what to look for while you were in the position was easy in determining exits. Trade management, emotional management, they all take way less than the screen time it took me to develop a trading plan. While emotional and trading management can be 110% detrimental to your account, they can both be managed with way less time it than it takes to develop a necessary edge.
Gotta admit.... sounds exactly like me... I'm still obsessed (probably unhealthily so) with research, but don't seem to find anything like what I do.... at all! I suppose that's the way it needs to be in the end... no depending on "gurus." But damn it was a massive, agonizing pain in the ass to "get there." glad I did so though
Secret? Oh, no my friend. They are all on the Big Mike Trading forum, in its elite membership section, for a mere $100. You apparently have yet to get that memo.
How profitable are you? I think it is quite obvious that no one would fully disclose a profitable system that works through a wide variety of market conditions. Sharing specific strategies, ideas and such is one thing, but I don't think sharing a complete system is something anyone would do, since there is no reason to do it. If you had a patent on an invention that would make you rich, would you give it away? Or would you keep it for yourself and get paid for your efforts?
I figured out a system that predicted the flashcrash of 2010, (backtested it also predicted the crash of 1987 and the recession in 2008 and many more) but so far no signals. no crashes are incoming in 2013 unfortunately. Its so annoying discovering the holy grail but not be able to make money with it because we aren't crashing at all. Also I discovered another edge which made 100% in the ES with only 50 trades a year and only 5% drawdown. I discovered this edges just last year and so far the 100% return is amazing. I do think new edges are just waiting to be discovered every day!
I trade forex and just applied my strat setup (using proprietery indicators) to ES. Using an EMA 28 on H4 or EMA7 on daily, plus a nice CCI (which bring similar signals to mine), I manually run a simple backtest. The results for 1 year (Sept 2012 - 2013): 21 trades and 940 points profit. Didn't check the drawdowns though. Happy trading, Felix