What a day, I just got in and I am tired as hell. Seth arb I average around 80-85% on my win rate. I always use a hard stop, as I found out the hard way how a mental stop will leave you with the deer in the headlights look when it blows right through it on a buy or sell program. As porgie pointed out my r:r is screwey because no matter if I am trying for a 10 point scalp or a 40 point move my stop stays constant at 20 pts. The high % of wins makes up for my inverted r:r. I tried every number under 20 and changing my stop up to 20 made a huge difference with my win ratio. As far as posting my system all together, I have already posted it a little at a time through this thread. Don't you guys want to read the 1300 posts in this thread to put it all together ? The backbone of my system is KISS. I am going to grab something to eat and I will post the basics when I return.
volente_00, I'm sure everyone who reads this thread would be very appreciative to see how your system looks like, as am I, however if you don't mind indulging my curiosity I would be even more interested in knowing how you developed your system, what things worked for you and what dead-ends you took before you got it right. Most people here will not be able to use your system because it is your personal work and when it fails some time in the future they won't be able to adapt to a new trading environment. I truly think there is more to learn in the mistakes made and the process of creating a system then the end product. What mental states and ideas did you go through on your path to success? -Neo
i noticed tonight from oct i'm paying 20 cent more per rountrip for dow emin's. i know somebody mentioned ib had raised there rates. is anyone familiar how much the cbot raised there exchange rates?
All this talk of a system is driving me crazy, I believe it was porgie who brought up the term system in this thread. . I really don't have a system, but merely a set of rules that I trade by. Some of them are so elementary that you guys will think they are crazy. Some of them may confuse you and you will wonder what the hell was I thinking. But as far as a true system, I don't think you could put my rules into program because there is no substitute for watching for hours the behavior of markets. All of these rules are equivalent to a multivariate calculus word problem. Rather than just make a huge post of all of the rules, I would rather those interested ask questions about different aspects they are interested in such as risk managment, entry/exit, etc.
vol, I didn't mean to imply in my post that your "system" has to be anything more then a few simple rules and observations. It certainly doesn't have to be a black box Everyone has some kind of rules that they go by, which in effect puts them on the right side of the market. Anyways, thanks for sharing, its cool to see what drives other traders. -Neo
lmao volente's the new rock star. i assure all the newbies on this board nobody and i mean nobody can make you money but yourself. one can only be successful in trading when they conquer there fears. nobodys method will make you successful. i assure you volente knows how to look at a chart no better than 90% of the people on et. the secret to him making money so far has been his 20 pt stop period. BUT I CAN ASSURE YOU THAT 20 PT STOP AT SOME PT WILL HAVE TO BE READJUSTED AS NOTHING IN TRADING STAYS CONSTANT. the difference between a great trader and a medicore trader is the great ones can adapt and change. i also assure you volente won't maintain a 80% win ratio threw time. peoples thirst for knowledge on all the et' boards is good but i think 80% of the people on these boards believe somebodys system will take them to riches
congrads volente for clearing that up. what i think volente is saying he uses charts and waits for the market to move hard one way or the other and fades the move with a 20 pt stop. ITS CALLED TAKING A SHOT AT THE MARKET AND PROTECTING YOURSELF WITH STOPS. NO FANCY PROGRAMS OR GREEK FORMULA'S. JSUT SIMPLY WATCHING THE EBB AND FLOW OF THE MARKET AND TAKING YOUR SHOT
"lmao volente's the new rock star. i assure all the newbies on this board nobody and i mean nobody can make you money but yourself. one can only be successful in trading when they conquer there fears. nobodys method will make you successful. i assure you volente knows how to look at a chart no better than 90% of the people on et. the secret to him making money so far has been his 20 pt stop period. BUT I CAN ASSURE YOU THAT 20 PT STOP AT SOME PT WILL HAVE TO BE READJUSTED AS NOTHING IN TRADING STAYS CONSTANT. the difference between a great trader and a medicore trader is the great ones can adapt and change. i also assure you volente won't maintain a 80% win ratio threw time. peoples thirst for knowledge on all the et' boards is good but i think 80% of the people on these boards believe somebodys system will take them to riches" LOL stockripper you are to much dude. You sure talk the talk but I have yet to see you post one single trade. What are you scared of ? Lay it out there so others can see how good you are if you are all that you say. Regardless some of what you say has merit. "i assure all the newbies on this board nobody and i mean nobody can make you money but yourself. " I agree 100%. See my post earlier about barry bonds. "the difference between a great trader and a medicore trader is the great ones can adapt and change." I agree again somewhat. Even though the market is constantly changing, the basic fundmentals of the game are no different than from 100 years ago. Now let's look at " i assure you volente knows how to look at a chart no better than 90% of the people on et. " Perhaps so, but the difference is I have the confidence to act on what I see in the chart while you sit around with your thumb in your ass wondering what you should do next. "the secret to him making money so far has been his 20 pt stop period. " LOL, Do you really think a 20 point stop is the holy grail ? Not to harp but check out the trade posted today by weeman todaywhere he used a 20 point stop. And what was the result ? So much for your theory. "i also assure you volente won't maintain a 80% win ratio threw time. " Hate to bust your bubble but prior to trading index futures, I mainly traded mainly PMCS and WMT and had around the same win rate with them too. Don't believe me ? Go and check the YHOO boards as I also posted my trades on the PMCS board since 1999.
You make it sound so simple stockripper, if it was truly that simple why is everyone else not doing it ?
no its not that easy. and wether you have a 80-85% win rate only you truely know that. also only you know if the trades you posted on here you really did. also nobody knows if you had mnay other trades you lost on and never mention. see in esseence we know very little about who's posting on herre and whats true and not true. thats why i'm amazed people think you are anyone is there way to stock riches. i like your 20 pot stop although i modify it in different markets. and were you go in a 10 lot i scale in in 3-5 lots to get better prices. i'm not saying you're not telling the truth i'm jsut saying nobody will ever know. and to me not posting any trades. what for? i'm busy during the day #1 and #2 as i said who knows if i'm telling the truth.