Arthur Deco Mentors ET Noobs

[Arthur Deco]

Quote from pspr:

The only place you are going, Art, is to the bar at the Dallas Trader Xpo in June.

But, if you want to toss us dogs a bone, what does all your backtesting tell you works intraday?

Ah, yes, I will be there. But only if you and RT come. Just look for a shrivelled up smelly old prune with a glass of cheap champagne in each hand and two refills set up on the table.

What works intraday? That is an IQ test. I cannot trade range bound days, although some people here insist that there are signs and portents. I think they're lieing. Call me simple, but I think the only thing that works is riding the big kahuna. There ARE signs and portents for those. The only problem is that you have to be willing to sustain small losses for one to two weeks to catch the wave. And you have to learn how not to wipe out.

 

[ElectricSavant]

but but..Arthur Deco is dead...or ummm..dieing..He is sharing some wisdom from his death bed ...
doesn't that mean anything?

ES

Quote from guy990opl:

Chances are that a good trader is busy making money and not mentoring for money.

The only qualification I would want my mentor to have, is an audited return, but if one does and it is good...read above.

You can't ask for qualifications if someone mentors for free. Probably you'll get a failed trader, but is the mentorship going to help you because it is free ?

Elite Trader is an entertaing place, or a place to waste some time, but even online rules still apply. There is no free lunch. EVER.

 

[Arthur Deco]

Quote from oraclewizard77:

Art, I think you should be me a little more clear on your trading if you really want to help unless this is another one of your joke threads.

1) Do you trade using and automated system that does the trading for you that you previously built and tested. I ask this question since if that is the case, then assuming its profitable, it takes away many of the psychological problems of trading manually, and I am not sure how you can help people who trade manually.

2) What is your win% normally, is it low or high, and normally each month are you profitable. I ask this question, since it relates to the psychological effects of either managing a low win% system where you winners are twice or more than your losers, and having to sit through many losses to achieve winning results vs having a high win% system, and how you can psychologically accept the losing trade when it finally comes.

3) How do you determine if you are starting to over trade and/or revenge trade and if you are ignoring normal trade setup considerations before entering a trade?

Also, if Art has already died and does not want to contribute to this thread further, anyone else feel free to answer the above the questions.

ALL ET threads are joke threads. And if I joke, please understand that it is gallows humor.

I do not trade automated, because Bitch EasySignal keeps promising to support it. Like my wife keeps promising me a blowjob. I do trade systematically with manual entry and exit. I trade five systems intraday, and have perhaps ten more in the wings in evaluation for robustness. How can I help people who trade manually? By encouraging them to bring to awareness what is intuitive, code it, and test it. It is similar to the progression from masturbation to real sex.

I make money every month, but do have losing weeks. Those tend to correlate with drunken binges. I don't trade a system unless the win rate is 1 in 3 or better, because I hate to lose. I am living proof that Jack is dead wrong. You don't need good character to win at trading. If I didn't have bad character, I wouldn't have any character at all. Low win rate systems probably are overoptimized fictions, and trading them is evidence of masochism. If I were truly malevolent I could make money just selling fraudulent systems. Some of them are soo good they fooled me.

Over trading is impossible following a system. I switched to systematic trading for that very reason. I finally had to accept that I am a total dumb fuck about dis-cretin-ary trading.

 

[Arthur Deco]

Quote from BSAM:

Dear Artie...

I have a great dilema. I would like a new bicycle, but I keep thinking that my old Trek is in too good of condition to make a trade. An old friend is hard to get rid of. I just can't decide whether to trade or hold.

It's not a "plano" bicycle by any means. It's a nice ride.

I think a man of your experience can offer some sound advice.

Thanks.

Depressed-over-bike-in-cyberland

Is a dilema less serious than a dilemma? I myself have women problems which I call dilemmamas. Should you get a new bicycle? Should you get a new wife or girlfriend? You will get far less in trade-in for either than is worth the trouble. So I say, get a new one and keep the old one. Sometimes a new ride (of either kind) is good, and sometimes you long for old reliable. In any case, it depends on whether ot not your current ride is a pain in the ass.

 

[Arthur Deco]

Quote from NoDoji:

OMG, this is soooo funny

What about this is funny? I have children older than you. And they show about as much respect.

 

[Arthur Deco]

Quote from NoDoji:

Arthur, whether or not you've already died, please answer my question:

Less than a year into trading CL, I've been reduced to trading off a 1-min chart and cross-referencing a 10-tick chart. Being a strong believer in Kurzweil's theories, I fear that I may, in the not-too-distant-future, be reduced to trading off a 10-tick chart and cross-referencing a 1-tick chart. Then what?

That indeed is a condomnundrum. I was not aware that you were now watching such fast charts. But I approve. All the action takes place on those time scales. Anyone who doubts S&R need only go there for a day. But if you are tempted to trade faster, I suggest interpolation between ticks.

 

[Arthur Deco]

Quote from zedDoubleNaught:

Mr Deco, thanks for your input a while back on how to tell if 2 strategies are related. From yours and others posts, I coded a tool that has been very useful to me.

My next question, if I may be so fortunate that you might choose to answer this humble noob's question: how do you know when to switch between a large limit-small stop-low win ratio strategy and a small limit-large stop-high win ratio strategy?

Thanks, and hope things go well for you

I often see people post here advocating the latter. I suspect that they are delusional. And I know for certain they will soon deplete their accounts. There is no excuse for trading a low reward-to-risk system. In my opinion it probably isn't even a robust system. I don't trade anything less than about 2.5:1.

 

[Arthur Deco]

Quote from ElectricSavant:

pardon my ignorance..can someone tell me if this is TradeStation code? I wonder if he runs this on the ES?

oh well... I guess that is for me to find out!

ElectricSpoonFedSavant

That's EasySignal efs code. But I can't take credit for it. Professor Joe Doaks did it. Took him the better part of a week. After that I stopped paying him by the hour.

 

[Arthur Deco]

Quote from guy990opl:

Chances are that a good trader is busy making money and not mentoring for money.

The only qualification I would want my mentor to have, is an audited return, but if one does and it is good...read above.

You can't ask for qualifications if someone mentors for free. Probably you'll get a failed trader, but is the mentorship going to help you because it is free ?

Elite Trader is an entertaing place, or a place to waste some time, but even online rules still apply. There is no free lunch. EVER.

The exception might be that a good trader gets terminally bored babysitting a winning trade and longs for someone to abuse. Look at position trading. I check my porfolio twice a day. Leaves lots of room to bullshit. Intraday I lose two trades out of three, usually early in the day. So I drink. And shoot. And surf porn. And do my best to mislead noobs on ET.

 

[Arthur Deco]

Quote from guy990opl:

[BThere is no free lunch. EVER. [/B]

I have benefitted, if only marginally, by advice I received from ET members, usually privately. Let us suppose that you start your diseducation with a book like Achelis' "Technical Analysis from A to Z," an excellent book IMO, very inclusive and comprehensive. But how much of it is dross and how much gold? I have exactly four elements in my charting that got there because ETer's told me they believed in them and used them:

a moderately slow intraday EMA

fibs

the premium

testing the HOD and the LOD.

I don't have any systems built around them, and not for any lack of trying. But I do find them informative in creating a mental gestalt of the nature of the day.