Are you one of the best in your field?

I'm pretty sure if I start threads that went nowhere,
They would be .. nowhere.

Except we are on the PAGE 9 with 3000 views.



Although really.


Nobody answered my initial question.
"Are you one of the best in your field , if so explain"


I can't be the only person who thinks such highly of themselves.
Surely there must be more egomaniacs with much skills/experiences/results to back up as well. In business I meet these successful kinds of people every other day. In trading I meet jackbyrd who loves to tail me around with petty comments.

What a difference.


And ESPICALLY a thread where people admit to being OK with being second. HAHAHAHAHA

<b>

Thats about feminine as you can get in the scale of being a MAN.
</b>


L O S E R S .

sorry to say :)
 
Quote from coolweb:

Except we are on the PAGE 9 with 3000 views.

More...

I actually was feelin you coldweb, until you blatantly lied about this obvious stat. You're not even at 2000 views at this moment. How do you see 3000?

You nuts?
 
I don't view things for what it is now, but the future (later tomorrow , maybe next week like your S&P predictions)

I'm a page views action predictior second only to my price action predictions. :D
 
Quote from Steve Tvardek:

I have made the mistake of wasting too much time communicating with that wannabe trader Coolweb. I just dont want it to happen to anyone else b/c it truly does lead to nowhere.
More...


You didn't waste time with me steve,

I just shut you up with my success you can not replicate. Real trading Skills are sure hard to acquire when you don't have a Mr mentor ain't it?


Sorry buddy, Good luck nickeling while I be dollaring :)
 
Quote from steve46:

OKay then, does anyone have any resources for risk management. Books, internet references, specific plans

For me, I like to program my trades around specific risk/reward targets. My primary target is 5:1 risk/reward. If that doesn't work out I am looking to cash in at 3:1. I consider anything less to be a net loser, because I know that I can't overcome expenses without getting at least that much return. On top of that I "know" from my testing that I can expect to win X% of the time and my trade history suggests that I will see "runs" of x consecutive trade wins and X consecutive trade losses. I watch these stats close. If things get out of whack, I can get "advance warning" by simply checking out the numbers of consecutive wins or losses. Also if I think my edge is changing, I can go back and check the price action against my strategy. I ask myself some important questions.

1. Is my strategy catching all the behaviors that is was meant to, or is it missing some of them.
2. Once I have a signal to trade, is the position following through like I expect, or is that changing (the nature of the edge).

I use Excel to answer these questions. I export the data into Excel and do an analysis each night.

So folks, what do you do. Something like me or way different?

Hey no pressure, comment or not.

Steve

By the way Emsj, I dont remember calling you an idiot. I will check my posts and get back to you.

Edit:
Okay, I checked. No "idiots" in my posts. I'm good if you are.
More...

Steve,

Just wondering if you have read Kenneth Grant's book on risk management. He has been doing risk management for many years (including a stint with Stevie Cohen) and has a very mathematical approach to it, much like plugging your results into an excel sheet. He has come up with so many damn terms that I can't even recall them all. The middle drones on a bit, but the beginning and the end are pretty good. Our risk managers really try and drill this into our head, but I really can't keep up with all the damn ratios.

Personally, I believe I am very patient. I look for low risk, high reward trades in the US and German bond futures market. My ratio is about 50% losers, 20% scratches and 30% winners, but I really look to ride out my winners. Still around after 6.5 years and doing pretty well.
 
Hi:

You obviously have a winning game. Thats the big hurdle in this business. The next challenge is to keep it and to see if you can improve your results. Part of what I am talking about relates the the questions I asked (the ones that some traders believe are "unimportant").

What I have found is that when you pay attention to the little details that most think are unimportant, you sometimes find the key that will make a big difference in your profits. Let me give you one example, and again remember the comments of the guy who indicated that he didnt need to think about these issues.

Say you import intraday data into Excel. You import intraday data for the previous week (5 days). Then you change the data from absolute prices into "price jumps" so instead of 1275 to 1275.75, you have a single price jump of .75pts. You do this with all your data.

Then what you do is look at the distribution of jumps and you compare the distribution to a time line. What do you think you will see if you do this on a regular basis? I can tell you from experience, that at some point you start to see the day's price action in terms of jumps, and in terms of runs from one price point to another. You start to get a "feel" for where price runs and where it consolidates or retraces. If along the way, you use simply statistical analysis to look in a little deeper, you (again) eventually get a feel for when price is moving randomly (like in a casino) and when price is "being moved" (who cares who is doing the moving). Can you see what I am pointing to? Now some may think that this is "unimportant". But I wonder if you were trying to make a living scalping, and you were doing your best, what would you say if you could increase your profits, decrease your losers (or both) by doing a little homework each weekend?

I have been looking at intraday data every Sunday night for years now, and at this point, I have a feel for the markets that I am sure very few folks have. I can tell you that the market has a rhythm just like the ocean, and after a while you can see it, you can anticipate it and at points along the day, you can (sometimes) get there before the other guys do. When you do that, you can make more than "couple of ticks". A lot of success is confidence in yourself and this is what builds that confidence.

For anyone who is interested, and assuming you have a little bit of math background, you can buy a book titled "The Mathematics of Technical Analysis" by Clifford J. Sherry.

Good luck Folks.
Steve

Sorry I didnt answer your question. I have read Ken Grant's book. I think you have to go as far down that road as you can, without detracting from your main mission, getting and keeping an edge. Obviously anything you can do to add value to your business is going to get my vote.
 
Math. i hate math.

Im not good at anything, so thanx for the topic.
Bah Humbug.
Did i mention, i hate math?
Hate, puke, vomit......math...:mad:
 
Acro

You know I am very sympathetic to your comment. For an engineer, math is where we live. It is hard to know how you feel about it, but all my life I have heard comments like yours, and I know people who have trouble with math.

What I will suggest is the following. Approach math as something you are willing to look at with "new eyes". All you want, is to learn just the minimum necessary to improve your status as a trader. I will bet that along the way, especially if you can find a good teacher, you will start to see that math can give you power to change your world, that math has a kind of beauty that you didn't anticipate, a kind of elegance that is based on pure logic.

Give it a chance, put some time in, see if I am wrong. I will tell you this, if you dont have the basics, you will always be limited in some way as regards trading. Its the same as if you wanted to move to a beautiful country to live, but you didnt want to learn to speak a foreign language. Then you meet a beautiful native girl and "boom" all of a sudden learning a new language isnt the big deal you thought it would be. :D

Steve
 
You must log in or register to reply here.
Back
Top