90% Profitable Setup
- Thread starter Spectra
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TC,
It may be a bit more complex (needing two software platforms) but having an account at two separate institutions is what I prefer. If one goes down then you can hedge your open positions with the other one. I'm a big fan of redundancy. I have a cable modem and a $29 DSL line incase that goes down. I'm glad you had a great day. Most of us did. Those shorts were zesty!!
Geoff / Cajun
It may be a bit more complex (needing two software platforms) but having an account at two separate institutions is what I prefer. If one goes down then you can hedge your open positions with the other one. I'm a big fan of redundancy. I have a cable modem and a $29 DSL line incase that goes down. I'm glad you had a great day. Most of us did. Those shorts were zesty!!
Geoff / Cajun
eSginal and TradeStation. Just got done with this setup today. Made 34 points on the YM.
CajunSniper / Puretick.com Administrator-Trader
CajunSniper / Puretick.com Administrator-Trader
If have a simple system with an over 90% win rate.
Flip a coin, buy any stock, no stop, put in a sell limit order 3 cents higher, hold until hit.
Win rate will be well over 90%
Too bad your expectancy will be negative
Flip a coin, buy any stock, no stop, put in a sell limit order 3 cents higher, hold until hit.
Win rate will be well over 90%
Too bad your expectancy will be negative
traderdragon2 lol. would definitely not trade without stops or hold overnight.
check back in a 6mo/year. we'll keep documeting each trade on the system.
Boib,
34 pts per contract. But the total $ would be determined on how many contracts you were trading. There is a guy in our room who trades MaxSpan with 12. Myself I only trade it with 6 right now. I'm pretty conservative on longer term setups and trade accordingly.
The YM yields $5 per point per contract minus commissions.
CajunSniper / Puretick.com Administrator-Trader
check back in a 6mo/year. we'll keep documeting each trade on the system.
Boib,
34 pts per contract. But the total $ would be determined on how many contracts you were trading. There is a guy in our room who trades MaxSpan with 12. Myself I only trade it with 6 right now. I'm pretty conservative on longer term setups and trade accordingly.
The YM yields $5 per point per contract minus commissions.
CajunSniper / Puretick.com Administrator-Trader
A beautiful explanation showing win rate is irrelevant to the bottom line, but expectancy is the statistic you want.Quote from traderdragon2:
If have a simple system with an over 90% win rate.
Flip a coin, buy any stock, no stop, put in a sell limit order 3 cents higher, hold until hit.
Win rate will be well over 90%
Too bad your expectancy will be negative
This may be why it is extremely difficult to be a winning retail trader. It may be that retail traders can mostly [only ?]make money with systems that are low frequency, and that they lose say 8 or 9 out of ten times, but that 1 or 2 times out ten is a grand slam [in other words, invert your system, ie., take lots of small losses, and hang on for the big one].
Notice the relation to game theory. The 3 cent stop gain says that the market is only offering small gains, and offering large drawdowns to get those gains. In other words, it would be interesting to see what the stop loss [bigger stop loss? smaller stop loss? no stop loss?] would be to gain the three cents with positive expentancy. What is the relation to stop gain to stop loss? Is it a mixed strategy? Note that "more risk" and "less risk" are utility functions that is dependent/relative to/on the trader...
It is very difficult to sit through these systems...
nitro
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