When you've made a $million and a half after tax and it's in the bank and your account is replenished with another like amount and you're making $100k/month on average I'd say you'd cracked it.THEN I permit you to feel guilty maybe once in a long while. You beat my edit but I was just going to add that this thread does smell a little of h.....y.
is this right...? I know for a fact what you said is incorrect. And you know it. You can deny this as much as you want. Users who check our your other posts will also notice that truth is not exactly your virtue.
buddy, there is NOTHING whatsoever magical about stops. They are just one out of many elements when backtesting ideas and trading live. I dont know what kind of show you try to put on but a stop is nothing else than a rule to exit a trade in the same way than an entry is nothing else than a rule that gets the system into a trade. Nothing magical about at all. Stop making your product sound esoteric. The entry rules and exit rules give 100% the same results when coded into my backtest platform than what I get when I simulate the very same strategy in Excel. So, not sure what you are trying to say.
your sales "techniques" are very obvious. Every time someone criticizes your comments you in turn sandwich the critique with 3-4 long posts to make sure other users have a hard time to find anything but your posts, happened many times...
Folks, I used ignore this time. However, I still went and checked the subversion logs to verify my memory served me correctly in case somebody has a valid claim. And, it turns out that one person did make a one line code change as a contribution. Here's the log: Revision: 27 Author: danyBoyCh Date: 8:52:38 AM, Thursday, January 29, 2009 Message: Change the storageFolder member access form private to public. ---- Modified : /trunk/TickZoom/TickZoomTickUtil/TickUtil/TickReader.cs That's the only contribution from when TickZoom went public on January 26, 2009 until March 23, 2009 when a paying member began contributing. Then on May 08, 2009 another paying member began contributing. Those are the only 3 contributors to code until this moment. Enough said. DanyBoyCH has still rights based on his Contributor contract if he wants them but he hasn't been heard from since that change. The rest of the users prefer not to commit changes but just post a ticket with a defect the found and fixed. Sincerely, Wayne
About martingale. Someone mentioned in relation to adding to losers. We're not discussing martingale. Martingale by definition has you adding to losers without limit in order to win 100% of the time. That runs the risk of a losing streak long enough to wipe out your capital. However, adding to losers with a limit is quite different. It means you never run the risk of going broke. To make it work you have to at least do the following using the law of averages. 1. Decide at what price level to enter a trade. 2. Decide at what price to start adding to a loser. 3. Decide at what frequency to add by time or by price level--price is better. 4. Decide at what level you will take a loss (to avoid the martingale downside). 5. Add on filters to avoid entering or doubling during outlier events. 6. A really efficient trick is to "throttle" how fast you add to losers based on the velocity of price change. 7. If you're smart you will make many of these strategies that capitalize on different market conditions (trend, conter trend, chop, channel) that are non-corrolating and then trade them all at the same time to get a smoother equity curve. Number 7 works because the nature of the market and idea answers to 1 - 6 vary during different market conditions. That is FAR from being a simple martingale or even a modified martingale. And it sounds similar to what travis is doing but he may not have gone all the way yet. It's not easy to do all of this in discretionary trading. And it's even harder to code up rules for this in most platforms. I originally built TickZOOM for myself to handle this type of trading very simply. Since that's how I trade, that's why I enjoy this thread so much. Plus I got all the ideas about this strategy over time from tips on elitetrader so it's nice to give back. There's always nay-sayers or people who can't figure out how to do it correctly and say it never works. That's sad but a reality. NOTE: Just like travis, I don't make enough to retire to the Caribbean yet from this strategy mainly due to the fact you have to use limited amount of your account balance so you have enough to add to losers and my account balance was small to begin with. Plus I decide not to go the route of using OPM (other peoples money). One area of interesting research is how to handle winners. I'm finding that gradually rather than abruptly closing a position seems to work better but not using it live trading yet. Sincerely, Wayne
Naysayers that respectfully explain their objections are fine. Superficial people, who just criticize without explaining why, without suggesting a better solution, and often without even fully reading what they are criticizing, go straight into my ignore list. They are easily spotted by their short posts (usually one or two sentences), and by their use of smileys.
One more clarification. We all "use" stops in trading--at least an emergency stop. However, it's a mistake to use stops in historical testing unless your platform handles them properly. If your platform results with stops match how you do it in Excel, then you're probably fine. But I know for a fact that the EasyLanguage based systems like TS and MC handle stops less than ideally so be careful if you really understand the issue. The others non-EasyLanguage that I tried also handle them traditionally. So keep your head and open your mind to doing the homework carefully. Start with the raw trades without stops applied. Dump to Excel, calculate the profit, then apply a loss limit and recalculate. Then apply the same stop loss to your strategy in the platform, rerun and look at the results. If they match excel, you're probably fine. Sincerely, Wayne