Search results

You say "couple times". That's too little to draw any meaningful conclusion. You need to get a statistical mindset. Try "The disciplined trader" by Mark Douglas. GS

A client of mine has a theory: around the 40s, the man (male) finally acquires a balance between his two heads. :D GS

Your metaphor is flawed. You can't easily and safely take a physical concept like momentum and bring it into trading. Markets are not linear. The "train" you're talking about could keep going on its trajectory, OR reverse its direction at any time, with no momentum at all. GS

LOL

I trade equities and only use market or stop orders. I don't use limit orders anymore, I've found they do more harm than good to my systems. If I really have to wait for the price to go below a certain limit, I prefer to let the system track the price down then enter market when it comes up...

Yes, and for the same reason it's also one of the best way to get convinced about how useless many trading ideas and intuitions may be. It's great to become a skeptical. oraclewizard77, May I suggest www.wealth-lab.com as a good starting point. GS

Hi Norm My system is composed of 484kb of C++ source code for core trading algorithm, broker API communication (IB) and low level stuff. I wrote a library which is a clone of WealthLab's WealthScript trading model (have no fear Cone, I've no intention to be the next WL competitor!). On top...

Welcome aboard, Vercetti.

Very nice picture. Florence people would love if Arno always stayed like that... -GS

41, living near Florence, Italy. Trading US equities part time for 6 years now. Gradually switching to full time.

Yesterday I did another dummy trade. In the first hour the markets were going down quite sharply, so I decided to put on a short trade. I looked at several charts and seemed to me that DPH could be a good candidate. I was also looking at other symbols, XLNX for example, but this would have...

Hi Spydertrader A couple of questions on entries: when the symbol fails to reach low band DU volume, MACD and Stoch levels by 11:00, you give it a "second chance" at EOD, right? But in this case do you only consider DU or again MACD and Stoch? Is it right to say that these are the only two...

You're right, I got a little confused. But not in the sense you're pointing out. I was mistakenly assuming a 6% profit target on the position, while you actually were talking about 6% on the whole equity. If you set your stop at 1R = 2% of equity, then you expect the trade to move in your favor...

Hi Razor Your numbers are correct, but you're assuming a 6% profit target on your trades. I think this could be a little too optimistic. I've done about 20 dummy trades so far, and my average % per trade is being much lower than that. To be exact, I did 10 actual trades, 6 of which were...

Razor: I didn't try to short anything with dummies so far. I have rarely used shorting, actually. However, I plan to do it soon. I'm beginning to suspect that looking also for shorting opportunities is a way for staying even more in contact with reality. After some good dummy trades in the...

I have always been convinced about the value of backtesting, yet a simulation may have a hard time taking into account every factor occurring in real trading. For example, a system may produce a certain number of trades, in backtest, some of them winning and some losing. Then you put the system...

Well, I had actually set the stop order exactly at 7.00, and got filled with no slippage. I'm experimenting with several levels of tightness regarding to stops. Where would you have set that stop? In general, do you prefer tighter/looser stops or is this determined discretionally on a per...

Another one. Bought at 7.25, stopped out at 7.00. I wasn't able to exploit the big upward spike. -GS

Just closed another dummy trade. Bought SCLN yesterday at 5.59 and sold today on open at 5.83. I'm using both 5 and 15min bars. -GS

After spending some time studying the pattern, it seemed pretty sound. So I decided to give it a try. Yesterday I did 3 little dummy trades, using about 5k$ each time. The first one of them hit the tight stop I had set and lose some 30$. The second was up about 50$, then my 11 yo son came...