Jimmy, Interseting options you've laid out. Yes, TS is good for something, backtesting. I will play around with it and see what I can come up with.
see..... math is perfect...no emotion... read the ED seykota quote...it is true about what your system actually is... I believe rossmedia is much more and he is just playing... weed out the chaff...ym
... and while you're doing all that backtesting, see if you can't factor in a "range indcator", to help you to determine when there is potential for a breakout/breakdown and the market has a higher probability of trending. It's doable. Best, Jimmy
well the range indicator could be an entire basis for the rank...if it reveals anything. He needs to compare the trade entries to it and see if its valid. Hey its a start...Never give up and always keep looking Michael B.
====================== Y-ESmtrader; Dr Van Tharp has some excellant books on pschology-trading; but frankly Y-ESmtrader, have studied them for years & still think you can reduce the size of that loss[average 4.8k to win 2k.] Long term systems are known for being profitable with large losses/drawdowns; shorter term can go the other way profitable. And just because new traders are concerned about size of losses; experienced traders are also, that is experienced tradetrs who run thier trading like a business & treat losses as a business exspence Like the latter part of your last sentence. With the exception of Volente who trades ES , find it some what amusing all these traders who ''encourage '' you to keep on with a ES system which losses 4.8k average when its clear to me you are disatisfied with it. Hope this helps-thats a large loss for ES, trade ES more than anything
ym, You have got something to work with here. The point is that you have a system loose enough to still be profitable with a spectrum of different results. When you start ranking that range of results you have begun. You will see what I am talking about.... You can eliminate the lowest ranks if necessary, but not in the beginning...take all of your trades and discover your range of rank. But again you need a system generating signals lose enough to begin with. Your not rewriting your system...actually you want as many sig's that you can get! DO NOT OVER-OPTIMIZE Michael B.
YM, The mission here is to discover "like characteristics" within each rank. These will be your pre-cursers to filter with. Start loose (your system) fine tune through your rank filter. M.B. P.S. You are "sort of" going through the backdoor of your system... P.S.S. ym...you are a genius with numbers, I know you can do it.
I have homework for the upcoming w/e! Thanks everyone for your comments and suggestions, they are ALL appreciated. -c
ym, I will leave you with this. You have discovered perhaps that you do not have a psychological problem. Your Holy Grail lies within YOU. You need to make some small adjustments to your system so that it is tradable to YOU. Each one of us have different tolerances. Your job as a trader is to understand that this search is never-ending and your systems and grails will stop working. You need to always have your research ongoing in preparation for the day that you switch systems. You have received a lot of good advice here from experienced traders who have taken some time to comment. Please in return, will you keep us updated as to your progress?...I think you have a winner here... This thread will always be here...just pop back... in a few months and update us...ok? deal? Good Trading to you... Michael B.
Electric, Yes, it's a deal. I understand that all of you have taken time out of your busy lives to try and assist me in my development as a trader, and I am thankful for everyone's feedback. I will read over this thread many times, as I already have, and will go to work on trying to increase the tradeability of my system. It has long been talked about that the system one trades must match with the personality of the trader, and I think that is why I am struggling. It's Friday! Have a good w/e everyone! -c