Adaptation

B

bandit

Do you people get it....? Holy cow...?!

I have been reading these threads for months now, and this is just funny. All these guys who don't make money trying to teach guys who aren't making...... TO MAKE MONEY

GOOD GREIF, THE BLIND LEADING THE BLIND!!!!

I will give all you guys a bit of wisdom.

Been trading for more than 10 years, every market everywhere. Haven't had a down week since 1997.

I have trained and seen more traders and styles than most will know or see in their lifetime, and the key to survival is not a system, or low comish, or a faster pussycat......

ITS THE ABILITY TO ADAPT....

Plain and simple!!! I have trend, day, swing, overnight, everything traded, AND SUCCESS COMES FROM KNOWING WHEN WHAT YOU ARE DOING IS NOT WORKING ANYMORE, AND YOU ARE WRONG, AND YOU NEED TO FIND SOMETHING ELSE.

The guys who do the same thing over and over to be profitable never last. The reason is simple..... Anything that is truely profitable will be found by the market, and traded, yes I said TRADED away. Either by the number of people that start to trade that way, or the big boys finding it out.

SORRY, BUT THE ABILITY TO TRADE MULTIPLE WAYS AT ANY GIVEN TIME IS A BIG KEY.

IM me or whatever you do here if you want more detail, but this is my 2 cents.

Bandit
 
Bandit,

Well said; Defining the current market environment and than applying the preferred methodology is the only way to make consistent money in all markets.

Those looking to model the market and market conditions should have a look at Wyckoff. Price Action and Volume will always give you the best clue. Good Luck.
 
Yes, adaptation is very important...

But rather than "adapting" yourself intentionally saying, "The market is XXX so I'll trade XXX" It's better to have a simple trading method.

Simplicity = Flexibility. There is no need to be "adapting" if you already are trading flexibly...

Ultimately, you don't trade what you think, you trade based on what the market is doing... In result, you have to adapt...
 
You have to adapt to fundamental changes in the market, the ability to spot those changes and devise strategies that will take advantage of those markets are the key to successful trading.
Trading a plan is still very important, the ability to realize that a plan is broken is even more important, hence the need for constant adaptation.
 
good points.

with a 100% mechanical system that has worked nicely in the past, how would you determine the difference between a drawdown and a dead system?
 
Vanilla, in your question lies the answer to all questions.

Those who discover a way or who have a plan for just this eventuality are the ones who reap the rewards of their creativity.

Personally, it is all based on a drawdown cut off.
 
There is one exception to the rule.....price and volume. Traders have used it since the begining and will always use it. Unless the mkt makes a seriously drastic change (in which case we are all F`d) P+V will live on. Rely on nothing but these two and you will survive and flourish. I have.
 
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