huh? Maybe in a drug induced evening, but real world there is so much negativity in forum, one's Ignore list gets in the dozens. Members learn faster? Constantly see people then POOF they are gone. Very very few I bet don't avoid costly mistakes. I will say, I have learned from early posts from ten years ago back and brain is still open to learning, but most of my learning is often in the back testing or reading John Hill's material. I would never start trading something someone says is good till I backtested it.
I didn't write that.... that's a cut and paste from the main page. Its ET's charter. "I would never start trading something someone says is good till I back-tested it" How does back-testing predict future events? Market events. It can't. Its way over-rated imo. I wonder how many people back-tested CXW or GEO on Monday, .....bought on Tuesday, ....and lost their f***ing shirts on Wednesday? I'll take forward thinking over back-testing any day. But thats just me. Its whatever works for the individual I guess. PS.....Wasn't John Hill the guy that owned the restaurant above Cheer's? I didn't know he wrote books.
Everyone has there own methods of entry, but those who go with "Old" principles of money management will beat you more times that not. When you repost whatever on the internet, you show you are agreeing to it IMHO. Whereas I would never do forward thinking any more as that caused me to lose of 100k, my tried and true method of having over 200k sample size of all entries of my main day trading method, I have good stats of what I will gain in the future. For someone to state they don't believe in the past of repeating really makes me think you are doomed as History always repeats itselfs. And even in your "forward thinking" if you didn't use past history of making some comparisons, you going to flip a coin? I am not sure who owned restaurant above Cheers, Hill wrote books before home PC and guess what, if he didn't believe in past history, his books and 99% of the books out there believes in back history which is back testing. As far as GEO, any time price hits same area and either doesn't get out of longs or sells short should lose. And CXW is sporting a triple top to sell, again another excellent place to sell short of breakout or at least put on Debit spread, and chart patterns are based on past history which is a form of back testing. Forward thinking, I am still chuckling. I want to know if your mind is able to not use the past on how to form ideas for entry signals ? Ever thing we do is based on back testing and experiencing and we put it in memory otherwise we be burning our fingers when touch hot plates each day, well I believe there are some people who don't have feelings of touch. Yea, I know of four books he wrote or co-wrote.
Of course markets repeat themselves. All I am saying is you can backtest a stock all you want, decide its a good entry, and the next day the markets sell off across the board, ...you have a losing trade. Backtesting makes no provisions for geopolitical or other hiccoughs that also always occur. The John Hill thing was me not being serious. I'll see if they have any of his books at the used bookstore. I know if you speak highly of them, they must be good.
I reread his 2 late 1970s twice a year every year, I always seem to either understand something a little better or gives me new ideas. The only two things you can depend on 100% of the time, feds will come after you if you don't pay your taxes and one day you will croak and feds will be holding their hand out there as well. I have done thousands of backtests and really without them, I never anything today, some of the most absurd ideas show they not absurd at all and some I thought would be profitable wasn't. But everyone has their own way of doing things which makes trading incredible, cause when you find your "edge", you become a casino over those who are still swimming in murky waters.