Do you have any piece of advice for a novice trader? Anything that could be helpful?

[SimpleMeLike]

But that groups of 30 and 40 trades, will tell you the story. You need to grind out an iteration of trades.

raVar,

What do you mean by "groups" of 30 and 40 trades? Do you mean 40 trades?

 

[digitalnomad]

You just haven't embraced them into your heart yet, I tried a few times and thought rubbish, but cracked them recently

I think you’ve cracked your head.

 

[SimpleMeLike]

Hi guys! so a while ago I asked a question on here and got a lot of helpful responses. so I think this is a good place to ask for advice or suggestions. I'm a novice options trader. A lot of skilled traders have told me not to rely too much on indicators or just don't use indicators altogether if that's possible. No skilled trader likes to tell their way of reading the price chart and probably would ask thousands of dollars to teach anyone that's interested, and I don't think there's anything wrong with it. So my question is, how do I learn to read the market without any indicators?? No one seems to help me with this one, how do I learn to do that? I've been watching videos and reading articles on price action and stuff but they aren't helping me much. Could someone please help me out a bit by giving me some advice? Or anything that could be helpful?

Thanks in advance for your help!

newbie003,

Well, I can say this. What ever you choose, trade sim for 200 trades to see if you are profitable before risking real money.

P.S. I am not a profitable trader, yet. I study Al Brooks.

 

[themickey]

I sure will. Below is an example of a MTF strategy using transient zones and a divergence formula for entries. All custom coded but only semi-auto at the moment. When you get a buy signal, all you have to do is look at all the time frames and see if it's a proper signal. Two green dot on each time frame would indicate high probability of that signal being accurate. It's accuracy is on the level of predictive at this point. This gives you that edge!
View attachment 212093 If you know how to code or have a dedicated programmer, that also puts you at an advantage. I'm hiring if you know anyone.

How long/many trades have you traded this system?

 

[Turveyd]

I think you’ve cracked your head.

LOL like I've got a brain !!!

 

[raVar]

raVar,

What do you mean by "groups" of 30 and 40 trades? Do you mean 40 trades?

Depending on the periodicity (the time-frame you are trading in), I view an iteration? Usually around 30 trades. So yes ... a group of 30. And then a group, of another 30.

Then, you compare those "groups" or iterations to one another. There's going to be some give and take. If you are running 45% accurate; you should be aiming for $1 risked to $1.50 reward on average over iterations.

So in other words? You're not going to lose 1.00 each time you lose, and 1.50x each time you win. But that should be the average, over a few iterations. Hope that makes sense for you.

I might stretch that out to a group of 40 trades being an iteration. Just depends on the process really, but that's just me nitpicking.

 

[IAlwaysWin]

How long/many trades have you traded this system?

The system without the divergence formula, well over a year. With it, coming up on 5 months. Looking to hire a coder to help with fully automating it.

 

[tiddlywinks]

Depending on the periodicity (the time-frame you are trading in), I view an iteration? Usually around 30 trades. So yes ... a group of 30. And then a group, of another 30.

Then, you compare those "groups" or iterations to one another. There's going to be some give and take. If you are running 45% accurate; you should be aiming for $1 risked to $1.50 reward on average over iterations.

So in other words? You're not going to lose 1.00 each time you lose, and 1.50x each time you win. But that should be the average, over a few iterations. Hope that makes sense for you.

I might stretch that out to a group of 40 trades being an iteration. Just depends on the process really, but that's just me nitpicking.

Just jumping in the fray here...
completely agree about comparing "iterations". Further, if the trade sample size permits, creating iterations of every nth sample (or day, or whatever slice/nth) helps introduce an element of market environment randomness, which, if understood, provides further (human)confidence to the comparisons.

 

[SimpleMeLike]

Depending on the periodicity (the time-frame you are trading in), I view an iteration? Usually around 30 trades. So yes ... a group of 30. And then a group, of another 30.

Then, you compare those "groups" or iterations to one another. There's going to be some give and take. If you are running 45% accurate; you should be aiming for $1 risked to $1.50 reward on average over iterations.

So in other words? You're not going to lose 1.00 each time you lose, and 1.50x each time you win. But that should be the average, over a few iterations. Hope that makes sense for you.

I might stretch that out to a group of 40 trades being an iteration. Just depends on the process really, but that's just me nitpicking.

Thank you raVar

Based on your experience and opinion, which strategy should I trade below? Alll 3 am forward testing. Daying trading CL, crude oil. One contract. Testing since July 2019

I am leaning toward strategy 2.

Thank you,


Strategy 1

Strategy 2

Strategy 3

 

[padutrader]

Most of the forum don't have clear concepts of how to parallel park their car let alone know they been trading their entire lives and done a poor job at that.

do you have proof of that?
otherwise it is quite presumptuous.....also amusing since you are part of that [elite!] forum