Search results

Good you are learning - but you are not treating this like a business. You are doing it for thrills. That is the problem Ripley.

There you go - you have a Moving Away from orientation. But no Moving Toward orientation. You move away from losing when you have the imminent pain of losing. You do not move towards (emotionally) making more money. Personally, when I have "breathing room" I am in the zone and milk the money...

Yes to your comments. I still think expert emotionally balanced discretionary is the most profitable system however - thats what I am aiming for. Haven't found many systems that work better than expert discretionary, though I havent backtested on multiple timeframes such as your system...

Spike Wow. What is your indicator programmed in - what does it display in? Did you invent it from scratch or did you get significant ideas from elsewhere?

Partridge and the bull mkt comment have little or nothing to do with candlesticks confirming trend turns.

Sounds good Spike. I find it hard to believe any trend indicator can not be lagging and cause whipsaws though. I use coincident indicators, like trendlines, fibs, gann, stochastics.

Best thing is to trade a paper account, and write and develop your plan (the key) as you go. And read the posts here related to your current issues, problems. Its like learning to play tennis - a long learning process and you can always get better. Just have a plan you develop.

Big fan of Jim Rogers. I have read all his books. Why do I like and respect him? Because a) he has done what I want to do, both personally (adventures) and professionally, b) he is more impressive than many of his hedge fund peers who are less curious or thoughtful, or more egotistical.

Ripley Futurestrader71 and Nihabashi are two of the smartest traders on this forum. Heed their advice. Your worst comment was saying you have discipline. You have dog shit. Borrowing money on a credit card, hoping a loss will turn around, being WAY overleveraged for your account etc are...

4X I think you've got it. Congratulations on arrival.

They wanted what they wanted and didnt really want to learn.

Yeah, Jack's posts have helped me a lot also. Jack (I know you are listening) - the focus on sports memory, reversals, wash trades, and annotation I find is similar to the lack of attachment and being in the flow of Zen - see the thread on Zen and Poker or your own life experiences...

Yep. For what it is worth to newbies, I'll note that I've gone back to bars, as I like to see the left to right continuation of price (open tick to close tick) like reading a book. Candles can seem like they are one point in time.

Niha, great post. I agree with you. After two years of backtesting I learnt backtesting was great for seeing if your theory is roughly right or roughly wrong ... but there are WAY too many combinations of possibilities in a chart (not all codable) for it to indicate how one can maximise...

Merchant "wasted your time" - or do you mean "I learnt from the master and am now making millions"?

Ohhh - war!:(

What? I agree with you: re systems, but you are saying discretionary also? So you say NOONE makes money trading SIF intraday? Bollicks.

Jack - good advice re: getting more senses involved. Some people may think your stuff is weird, but they are probably not making a lot of cash:)

Kicking, why are you trading during a GDP report? One gets what they want out of the markets.

The quote above is perfect.