I like it because it's a fairly objective representation of the various forms of TA without any promise of making you rich like so many other TA books. There's also a lot of data and statistics included + some sample code.
Yes. I've heard similar complaints from others in private messages. The forum creates an automatic link when I copy and paste from Amazon.
It looks like this on my end. Trading Systems and Methods by Perry Kaufman.
Not really.
I believe the bulk of my system and approach is complete. From here on, it's mostly a matter of improving what I already have created and addressing the weaknesses I've identified and which presents themselves during live trading.
I'm now at a point where I make money most days...
I haven't.
But I remember a prominent Market Wizard who said he and his fund were buying a lot of commercial systems and while most weren't of value, they once in a while found something worthwhile which they could use in their own systems.
Probably a small cost for a fund.
Don't remember...
Yeah. I think so. It's a general problem with all 'price action' concepts and otherwise where you have to interpret.
Is this a double top? Is it a double bottom? Oh, there's a H&S. But f''k. There's an IHS below. Are we going up or down? The trend line broke. Is it a real break or a false...
I agree that often psychological issues are used as an excuse when the problem is with the system itself. But I know that even traders who use a more objective indicator based system can have problems. At least early on.
I've literally had signals I've ignored because I 'wanted' the other...
Aren't you in the ES-Journal? Plenty of traders there who always get it right. :rolleyes:
I'm not suggesting it's possible to never get losses or even zero losing days. But I think it's possible to get close to zero losing days and at least minimizing them.
It's always been my working...
I suppose it's common.
But I genuinely believe it's possible to get close to zero losing days. And further that it's possible to at least limit the size of your losing days. A simple solution is a daily loss limit which is always respected.
This week's f''k-up was actually done by doubling...
Real money. 80 % winning days. Well ahead since inception.
I still get the occasional big losing day, though. However, the key for me right now is to not compound aggressively. That way I can handle a bad day without getting back to square one. I want to double my account before adding another...
I have not tested it on other instruments or exchanges, so I wouldn't know. But the general principles should apply, I suppose.
If it were completely mechanical - I could quickly back-test that, but since it's not, I can't.
Why do you ask? :)
Sounds like a good routine, Mickey.
The problem with me is that if I have a position on, be it a swing trade or a day trade, I just can't seem to relax or unwind doing those things.
I had an open position on earlier this week. Profits locked in, but it would either be a small profit if stopped...
Thanks for your comment! :) Seems like a crazy period.
Mind me asking specifically how your physical and mental health were destroyed?
I get that the stress can be harmful. Especially if you're constantly stressed and it messes with your sleep, too.
But how did it destroy your mental...
Appreciate your comment. And it may very well be that this does apply to me.
But I do believe there's plenty of successful traders who's 'there' who would disagree with this statement.
Blunt question if I may: Are you rich from your trading operations?
Of course. I do. And I agree that's essential.
Not close family and friends, but my social life definitely have been impacted negatively. There's only so many hours in a week and if you want to master the markets there needs to be sacrifices. At least that's how I see it.
Fortunately, I have...
If you want camaraderie, you shouldn't call me names, nor accuse me of multiple nicks. I was done with this argument until you brought it up again now.
Actually, I'll probably take a breather from this journal. You guys have fun. :)
Name calling also, now? Just for the record - I'm not Noah.
I'm not sure it's of public interest to have screenshots from some secret trading room in this journal.
If you want to share a trade call - fine. Just stop the annotation of historical charts way after the fact.
I posted a live...