A message to those that are failing....

[TraderZones]

Quote from short&naked:

There seem to be a lot of beginners on ET posting stories about their failure to becoming traders. If you build on a few basic rules it really isn't that hard:

That is not what the statistics would EVER bear out.

This is quite a naive post. It is dreadfully difficult to be successful.

 

[TraderZones]

Quote from short&naked:

(I'll bite)

You have basically just discredited all of TA by saying this, you realize this, right?

So if you don't trade with charts, what do you use?

TA, absent of Price Action (for those TA charlatans who keep dragging price action under the TA umbrella) is by and large trash

Charts without lines and squiggles is what has promise.

TA is something people believe in. It is something that most studies discredit. This makes the TA lovers angry.

Their evidence? "I know someone who uses it successfully" or "Works for me, you just have to know how to transmogrify it..."

If you consider this as part of success, you really are short and naked.

 

[Shreddog]

Quote from short&naked:

There seem to be a lot of beginners on ET posting stories about their failure to becoming traders. If you build on a few basic rules it really isn't that hard:


1. Don't try to be an innovator... keep it simple!

2. Start with a strategy that blends investing and trading (i.e. stay away from intra-day trading).

3. Don't fight the trend, ever!

Think about it, if a stock or commodity has been trending for a while, there will be much more momentum in the direction of the trend, increasing your chances for a good entry point if you follow that direction. Fighting a trend is a recipe for disaster.

4. Use only basic indicators (stochs work well for trending stocks) and the main MAs/EMAs (200, 65, 50, 20). I have also found that 150 works very well on strongly trending stocks.

5. Become friends with trailing stops. Once your trade moves into profitable territory, seal off your profit with a TS. It is always better to walk away with a small profit (or no profit) than a loss.

And in case I didn't mention it: Keep it simple!

short&naked

So I pretty much do the opposite of everything you describe:

1. virtually everything I do I haven't seen done anywhere else besides with the people I collaborated on some ideas with.

2. I never invest, I never look at fundamentals. I rarely carry positions overnight.

3. I fight the trend.

4. I don't use any indicators. OK I use one, but it's not a very common one. And I don't use it the way it was intended. I certainly don't use MACD or MA.

5. I rarely use stops, ESPECIALLY trailing stops.

What I do is pretty complex, virtually impossible to backtest.

I pretty much did exactly as you advise when I was starting out and got NOWHERE. So I'd advise your readers to do the exact opposite of what you said.

If you aren't innovating you will never find a sustainable edge.

 

[Rocko1]

Quote from Shreddog:

So I pretty much do the opposite of everything you describe:

1. virtually everything I do I haven't seen done anywhere else besides with the people I collaborated on some ideas with.

2. I never invest, I never look at fundamentals. I rarely carry positions overnight.

3. I fight the trend.

4. I don't use any indicators. OK I use one, but it's not a very common one. And I don't use it the way it was intended. I certainly don't use MACD or MA.

5. I rarely use stops, ESPECIALLY trailing stops.

What I do is pretty complex, virtually impossible to backtest.

I pretty much did exactly as you advise when I was starting out and got NOWHERE. So I'd advise your readers to do the exact opposite of what you said.

If you aren't innovating you will never find a sustainable edge.

Dude, stop giving away the truth for free!

 

[scexglobal]

Quote from bespoke:

just another dumb thing posted on ET

show me some statistics to back that statement up since you say it's fact.

good scalpers make very consistent profits day in and day out, every day, every week, every month. can you say the same?

What is dumb is that your argument begs the question.

You just made short&naked's point. GOOD scalpers make very consistant profits. This could be true, but assumes that most traders have the ability to be scalpers (ie. the skill). Try again.

 

[scexglobal]

Quote from TraderZones:

TA, absent of Price Action (for those TA charlatans who keep dragging price action under the TA umbrella) is by and large trash

Charts without lines and squiggles is what has promise.

TA is something people believe in. It is something that most studies discredit. This makes the TA lovers angry.

Their evidence? "I know someone who uses it successfully" or "Works for me, you just have to know how to transmogrify it..."

If you consider this as part of success, you really are short and naked.

Aha, those sub 20 stoch crosses that have been making me money lately must all merely be a figment of my imagination...

 

[Rocko1]

Quote from scexglobal:

Aha, those sub 20 stoch crosses that have been making me money lately must all merely be a figment of my imagination...

YES.

 

[scexglobal]

Quote from Shreddog:


1. virtually everything I do I haven't seen done anywhere else besides with the people I collaborated on some ideas with.

What makes you think that most people keep it simple?

3. I fight the trend.

George Lane is rolling in his grave....

5. I rarely use stops, ESPECIALLY trailing stops.

Hmmm and why are TLs so extremely evil?

What I do is pretty complex, virtually impossible to backtest.

Then it can't have much credence now can it.

 

[scexglobal]

Quote from Rocko1:

YES.

LMAO

 

[bespoke]

Quote from scexglobal:

What is dumb is that your argument begs the question.

You just made short&naked's point. GOOD scalpers make very consistant profits. This could be true, but assumes that most traders have the ability to be scalpers (ie. the skill). Try again.

so does that mean that shorter timeframes = less consistent profits as he states as a "statistical fact". show me a paper or study. anything. i don't need to provide evidence myself because i'm not the guy who is trying to preach it to others as a fact

Quote from scexglobal:

What I do is pretty complex, virtually impossible to backtest.

--------------------------------------------------------------------------------

Then it can't have much credence now can it.

There are many edges that can't be backtested. Sorry that you don't know any.

but keep using that 20 stochs indicator and making mad money, lmao (i hope to god you were kidding)