why doesnt everyone...

Discussion in 'Strategy Development' started by will_jay, Oct 13, 2003.

  1. will_jay


    I read the article in ET by Charlie Wright, and he clearly noted that strategical trading was the most profitable and best form of trading, so why do aot of people still strictly trade on candelstick patterns and other technical analysis? Shouldnt they try to alleast incorporate some strategy using "quantifiable data"?

  2. The human brain is the fastest and most efficient "computer" ever "built" if one knows how to correctly use it. The problem seems to be is that with most people they have lost their user's manual.
  3. jessie


    Everyone is different, and everyone has a style of trading that suits them best. I know people who make 7 figures scalping with a 30 second time frame using nothing but guts for analysis, and I know people who make 7 figures who have held the same trades for literally several years. I am a floor trader at times, off floor at others, and the "intuition" that I have gained from the floor guides what I do when trading from home. I personally think, as the previous poster noted, that the intuition is simply a synthesis of a pretty large (although it often doesn't seem that way) body of knowledge and experience that I can't tease out in linear fashion. I also lack the reflexes to scalp, as well as the patience to position trade for months, so I had to find a system with a time frame that suits my personality. I tend to like quantitative analysis, and I've gotten pretty good at it, so that is part of what I do as well. I also have friends that make a multiple of what I do that think that what I do is ridiculous voodoo. And I have other friends who make even larger multiples, who do pretty much exactly what I do, but better and bigger. Anyhow, all the sucessful traders I know found their own way, and found what suited them best, and the others blew out, because they were doing what they "should" do following someone else's methods, and it didn't really fit their own personality and temperment. There isn't any holy grail, and there isn't any single best way.
    Go Cubs!!!!!
  4. Can you describe such a strategy ?
  5. Candlesticks are "quantifiable data", are they not? Much of day and swing trading is "noise trading"... the Big Picture hardly matters at all.