I posted a chart of IBM which is my trading setup. Would you like to post yours, or are you afraid to do so for your own reasons? There is no need for any links, just spit it out and tell the truth. Do not be ashamed to show how little you know, as, the only thing I know is that I really know nothing.
Never mind if you dont want to visit the below link. I cannot post my setup here because I discuss my trading setup only in my thread dedicated for it. https://www.elitetrader.com/et/thre...trading-strategies.304974/page-6#post-4401080
Thought as much, so you know where to go then, don't you. Who knows, maybe some day you might even get to write a book about trading, and get all the clueless clowns and dopey dudes to buy some copies
Some time ago this was posted with the 225.35 line highlighted. The highlight was not drawn just to make a nice colorful picture.
Your chart was not posted as a live chart marked up with entries and exits, as you so demanded in your first shitty run on this forum about ES. So now we are supposed to believe you are successful in trading SPY and IBM? Do you actually trade? Ever?
Yes thanks if you don't mind. I have met day traders who use a variety of criteria like market profile, TPO, POC, VWAP, opening price compared to yesterdays close, high, low and other Day trader points of interest to base their entries off. Some use all, some use just one for an entry. Do you have a basket group of criteria that need to happen for you to place your entry ?OR are you looking for just one thing to happen to place your entry ? Is your entry based on the % of distance from "x" ? Do you enter the market every trading day ? Do you know where your entry is before the market opens ? Is volume important to you when entering ? How long would you usually trade for in a day ? What is the average time you are in a position ? Do you use stops ? Is your entry based on probabilistic data ? if so: Do you trade probabilities based on a. The time "x" is more likely to happen ? b. The % of distance price is from "x" ? c. Other ? On another note: What is your opinion on options ? Do you trade options ? What are your thoughts on the Probability Calculator options traders use ? What are your thoughts on trading the breakout of the IB ? Nytick: what are your thoughts on using this to enter positions ? Cheers
My question is "Are you statistician or trader? " If a probability based strategy hits target 90% of the time but only after hitting the stoploss then whats the point? A trader has to bring some experience, creativity and character to workout how to reduce the hits on stoploss, which a statistician cannot do. A good statistician can create a good strategy better than a trader. It will be good only from academic point of view. Not from trading perspective. Trading is not all about statistics or probability. It is all about... Art of protecting the investment Art of multiplying the investment Art of business discipline Art of psychology Art of philosophy Trading is a business, thus a philosophical skill powered by psychological, creative and last but not least analytical skill. These statistical stuff are analytical skills. It wont work in trading.