He doesn't even need to start a thread, he is just theorizing because he has no real world screen time yet. All of this will pass. He did not even understand what I meant when I said buy the TOP or sell the BOTTOM. He has no screen time, might not even be an adult for all we know. If he is serious, he will pay his due, and look back on some of these early posts and chuckle to himself
Why not test this at a discount FCM where you can trade intraday ES on $400 margin per contract? They will let your equity dip below $400, just not let you open new positions at that point. So, deposit $1000, decide where your mental "kill switch" is, and let it rip. If it turns out bad, transfer out the money that's left over.
I don't believe in "new systems", except some unique edges, which are specific for certain markets and situations (like some true arb opportunity), but those I don't like too, because they tend to cease soon.
First,I never said it was a new system,but completely different to what you and other PA doomed traders are accostumed to.What i meant by 'Different' was the correct one,the one and only that applicable.And second,there is no such thing as the unique edge,do not pollute your mind with the freaking shoit!And third,learn how markets work - do drills to know how markets work.They never cease and have an order of events.Or go down the route mr.Bone offers,you`ll save your precious time and money that way.
Going to list a few wrong points you just made. 1) Unique edges do exist. For example, a few years ago one well known broker introduced so called box options, which were pretty poorly priced and a few people (including your most humble servant ) ripped them off for some nice $ until they fixed that obvious arb edge. Was this edge unique? Definitely. Did it cease to exist? Of course. 2) I tried a lot of stuff, not just PA, but almost anything that humans ever invented to speculate the financial markets. Settled down with PA for one simple reason: it turned out to work the best for me. Maybe that's because I am a visual person, in Eysenck test I crack visual tasks like squirrel cracks nuts and spend more time on average to solve the numbers or words related tasks. So, having said it all and tried everything from options and spread trading to (yes, such a pathetic way of trading as price action ) I can say I would not change it for anything, because my choice is the result of natural selection of approaches, which led to the most optimal way for me to trade and I don't believe there can be anything better for me. That's it.
BTW, so funny to often hear "do you know how market operates?" Do you guys, who repeat this, really believe that it's some form of very complicated knowledge, available only to high society professionals to know how auction markets operate, what supply/demand is and what makes price move up or down?
Of course not...it`s available to any boms from the street,that`s why everyone rich and happy... It is rather complicated then you might have initially thought.Many many grand masters have failed,the history shows it explicitly,but it was also as 'simple' as you describe - market opens - market closes;price goes up - goes down,but,ooooops...one with no pants,and another bang- with the bullet in his fraking head,someone fiked his mind and worn out!It was so easy for them.You seem never been fiked by the market in your life.There is no other way then being trained in Science by the distinguished mentor - scientists to know how really markets work or by someone who spent decades and figured it out,partly but in this case there is no guarantee that your trading life would last for a long period.Even seasoned veterans traders not being trade in Science carry staggering losses at times,but it is so easy for you.Ok,i feel like you simply have no clue what you are talking about,or trade with some 2K account.Only Science can give all the answers and it requirs hi IQ as well.Most people with the high IQ go down the wrong path,most of the time,unknown to themselves. At some point it could be easy if you are trained in Science.
Science you say? Remind me the name of last scientist who made really good money for him/herself by appliying scientific approach to the markets? I never said "easy" by the way. Simple, yes. Easy? No way. But trading is IMO no more a science than medicine or psychology is (I have a degree in psychology, by the way and have grown in a family of professor of physics and professor of literature with according attitude and level of education from early years, speaking of IQ ). Officially those are "sciences", but in reality have much more to do with craft. Same with trading, at least years of my own experience confirm that.
Forgot to mention one thing: the fact that I have grown with a typical scientific attitude and habits made my trading career much harder than it could be I believe. I tend too much to research, which led to continuous modification and changes in approaches. If I just settled with the simple stuff, would save myself a lot of learning curve money and nerve cells for sure. When I realized it, I just forced myself to do that and suddenly things became "easy".