Hi Gam, I think Don is full of $hit. I talked to him at the Las Vegas expo and he reminded me of a troll trying to sell posion. He lied to my face on a couple of items. I don't want to step on any toes so I'll leave it at this. He was a cocky, obese ass who disgusted me and my wife. I also met Amt4swa there. He's extremly profitable. He does not post here now for other reasons, but he still rocks it everyday. So to answer your question- I think Don trys to sell his methods etc, by burning everybody else's methods. P.S. Sorry to barge on this thread MM, just thought I'd throw in my two cents. Great thread and please keep it coming.
Chris maximized his profits, Because: A good solution applied with vigor now is better than a perfect solution applied ten minutes later. - General George S. Patton
Those who question whether something is possible are typically those who are looking and have struggled and struggled in vain and have either lost hope of achieving their goal or have serious doubts about reaching that goal and would like some confirmation. This applies to this particular question as well as the general question of whether anyone is making consistent money in the EMinis. Those questions are interesting but won't turn you into a winner. There is no way to really know what another person is achieving in their trading over a message board. Even real life contact may be misleading. And in fact, the only way knowing this helps is in providing an incentive to continue working harder, and you may pick up some new ideas/perspective or be motivated to try some new things. You can get the same motivation from reading the "Market Wizards" books. What is it that separates those who are struggling and doubting from those who are excelling and confident? It is simple really. Those who are excelling have done a better job of discarding what does not work, and exploiting fully those things that do work. Those who are struggling continue to test the same things in the same way, and on the same timeframes. They often have to do it their own way, and in so doing they find that even though their own way doesn't work very well, there is a certain amount of pride in holding onto that process because it is their process. A good definition of insanity is, "Doing the same thing over and over and expecting a different result." I would suggest to any aspiring pure mechanical systems traders to use the search feature on this site and read all the posts by acrary and vegasoul and to make note of any other system traders who they run into while reading those threads.
"Those who are excelling have done a better job of discarding what does not work, and exploiting fully those things that do work." Agree. Nice one, MaxMin. Yes, its problem solving really .. and on the macro scale this is the evolutionary progress of humans.
So you've read what he's got to say, and you think it's garbage, unless he's making money, then you think it's great??
OK.. How's this for a very simple strategy. We calculate S2, S3, R2 and R3. If sometime during the day S2 or R2 is broken with strong momentum (however we choose to define it), we take a position in the direction of the break, with a stop being equal to half of (S3-S2) or (R3-R2). We take profits at S3 or R3 for a 2:1 risk/reward and exit EOD if neither exit is triggered. Will this make money? Well maybe not 3000% a year but say a consistent 40% with modest leverage?
Hi sunnyskies, The below link is to a thread by a guy that's currently trading a similar strategy... http://www.elitetrader.com/vb/showthread.php?s=&threadid=29271 INihabaAshi
Don't put words into my mouth. I didn't say it was garbage. I just get tired of getting sage advice from people who can't make a dime trading. I guess it's just my distaste for the vendors and seminar teachers, who never show any proof they know what their talking about. Like I said, there was no offense intended. If someone feels they're qualified to guide us, I think they should at least show a recent monthly account statement proving they are qualified. Otherwise, it's just the same old rhetoric...