Another trader who switched to investing until his prayers were almost answered.
He wrote that he lowered his shorts to trade with the models.
I do not know if he wore knee pads when he took those long trades. Models seems to be a masculin word.
ES Journal - 2014
- Thread starter murica
- Start date
Another trader who switched to investing until his prayers were almost answered.
He wrote that he lowered his shorts to trade with the models.
I do not know if he wore knee pads when he took those long trades. Models seems to be a masculin word.
trading switching investing prayers : interesting pattern.
what if the prayer does not get answered?
That is why they have liquidation robots that watch the margins.
The moves we saw this morning and this PM could probably be due to robots doing that sort of work.
Really! I had no idea your male models were the ones showering you with their indispensable potion, haha. No wonder you're the best here at your better than market imaginary fills
Did you get any backers yet?
Really! I had no idea your male models were the ones showering you with their indispensable potion, haha. No wonder you're the best here at your better than market imaginary fills
Did you get any backers yet?
My models are mathematical equations. It is you who made your models human/living as per your post. I hope you did not bleed too much in those long trades of yours with your shorts down. Would you mind quoting that post of yours announcing the lowering of your shorts ?
How do your models work? You don't have to give away the formula, but I'm curious - is it fully automated? Is it based on price, volume, and time? Or is it based on something extraneous such as mathematically derived formulas from the above three inputs?
I have reached the conclusion that the question of trading models is really not relevant to those who make it big in trading. It is only the small and very leveraged trader who makes a big deal out of it . I think the big money may trade with no leverage, and use time to clean the other side. For the small leveraged, the enemy is probably more the leverage than a timing model.
The point of discussing timing is just to prove to myself that what really matters, and is lacking in this business, is the capital and not the talent as I have read many on this forum repeat until one gets nausea.
If timing was indeed what is needed, one would expect to see a line of money backers in this thread (I am assuming that the people who read this thread are well off).
The point of discussing timing is just to prove to myself that what really matters, and is lacking in this business, is the capital and not the talent as I have read many on this forum repeat until one gets nausea.
If timing was indeed what is needed, one would expect to see a line of money backers in this thread (I am assuming that the people who read this thread are well off).
Okay. I am not capable of fully discussing what "those who make it big" do or don't do, as I only know two personally who have. Both are discretionary traders; one using price, volume, and time to choose entries and exits; the other using price and several mathematical derivatives of price to time entries and exits. I'd wager the second could do just as well without the derivatives. Neither hold trades beyond intraday. Neither talk in terms of "models".
So back to my questions, which, forgive me if I don't see it, don't appear to be answered in your response: what do your "models" consist of? Are "models" a means of determining an entry location and an exit location, be it profitable or at a loss? And, if so, are your "models" a product of a combination of price, volume, and/or time? Or are they a product of derivations of those three? Or something all together completely different (i.e. lunar phase, Twitter sentiment, etc.)?
Thanks for your time -
The good thing with ET is when I read your post, I thought the complete opposite.
Talent in trading is important for those who live exclusively from their trading.
May be not for hedge funds where the key is gaining investors ( management fees), and definitively not for investment banks where a good chunk of profits is made from services ( merger and acquisions, advising governments on loans ( a gvt can borrow hundreds of billions and a %tge of this is significant profit). And government can lend billions in corporate welfare operations - there banks services are neede and the fees they earn can be substantial.
And as evidence that talent is not a "given" : traders in institutions still feel the need for insider trading, otherwise they can't really make it.
There is actually not as much talent in trading as one would think : first how does one know if it is not a lucky winning streak before blow ups come in?
If the talent was there, how comes veteran blow up?
If the talent side was easy, how comes even well capitalized firms like Maddoff's one could not find them that easily and went the ponzi way?
Now, with compounding : anybody who truely has the trading gift can make it big.
The leveraged and small trader makes a big deal of it, because he eats what he extracts from the market. No salary, no benefits, etc...
Have you ever traded your own account ? and lived solely from your trading?
How long did you last IF you had?