They are my ratios and returns, there is nothing in it for me to talk to you. I am impressed that your programs can beat the trade friction.
Cheers John
Are you a successful at home day trader with no other source of income who began with modest means?
- Thread starter JTrades
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Cheers John
The bear in this context of the market won't stop after eating one of the men, it will continue immediately to consume the other.
So, no significant amount of liquidity comes from jittery CNBC addicts gambling away? No hedge fund or prop trader is affected by any emotion, ever, in discretionary trading? This guy doesn't exist, or was the only one of his kind? Huge players (say, Timothy Morge on FX for example) don't slap markets around anymore for their benefit?
I must be naïve but I find your proposition to be the hardest one to believe, not to mention unsubstantiated. Things happening faster doesn't necessarily imply that they're happening differently. Unless you can demonstrate that algos are proactive and not simply reactive, and constitute an overwhelming majority of volume, I don't see them as a game changer any more than decimalization was.
Funny how you can come up with the most insightful information one minute, and defy common sense the next. I agree that newbies need to be given a massive dose of reality, but to flat out equate the basics of observing price action to the Easter Bunny is quite a leap!
Thanks!
At one time-- no question about it. but I don't think very much at all--- prop firm risk management doesn't allow it any longer, as don't hedge funds, etc--- sure it CAN exist at times, but the majority of the times it does not.
Decimalization was a huge game changer-- ask anyone who traded prior---
surf
yes I also experienced statistical tendencies that morphed.....
I tested a lot of ideas put out by self-professed supertraders about 20ma and trendlines and most are marginally profitable at best..... a few ideas could work for a while..... then they stop "working" and need tweaking. So best case scenario a constant game of chasing your tail.
I was reading all the bragging of consistent daily income and never losing by gurus on this site and only conclusion to come to was that it doesn't add up. The claims are false.
I tested a lot of ideas put out by self-professed supertraders about 20ma and trendlines and most are marginally profitable at best..... a few ideas could work for a while..... then they stop "working" and need tweaking. So best case scenario a constant game of chasing your tail.
I was reading all the bragging of consistent daily income and never losing by gurus on this site and only conclusion to come to was that it doesn't add up. The claims are false.
Bingo. also, re Surf's post about 'this is your competition' - the like on my part was given regarding the effort and work required to be successful. you have to work harder than not only you ever have, but than those around you to win.
I agree with your observations although this doesn't necessarily mean that all the claims are false, just that the methods were not workable for either of us. I do almost entirely the opposite to what is enspoused on forums and consistently win, go figure.
Cheers John
That was for me the biggest problem to overcome. Be confident and control your emotions when your system tells you to do something that is opposite to what most people do. Because you do what 90% of the people don't do, you probably belong to the 10% who win.
It is like driving a car only based on GPS and with no possibilitie to see where you are driving. Just trust the GPS and everything will be fine. And then the question pops up: What if the GPS makes a mistake? The answer is: just trust the GPS.
But believe me it is sometimes very difficult to take position when almost everybody is in the opposite direction or has no clue what to do. Trust your system.
No.
http://www.amazon.com/How-Trade-Living-Gary-Smith/dp/0471355143
Gary Smith is an ET member but I forget his member nick.