ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from Buy1Sell2:

One only needs 25 percentish and above to be successful. (It could even be less). Focus needs to be on cutting losses short and letting winners run. There is too much emphasis on being right. You don't need to be right to be wildly successful. There was a trader here earlier touting 90 to 100 percent winners. Those kinds of stats by themselves mean nothing. (What if the winners were all 1 tick and the losers were 10 ticks?)
More...

Thanks for the comments riaa. I use a lot of methods combined into one to derive my levels, a synergistic approach I woud call it. My charts look like a train wreck sometimes, thats just because I want to be looking at as much as I can one one chart rather then 5 charts on different timeframes.

A great discussion as of recently. A lot of wisdom was shared that most people, including MYSELF took a long time to figure out.

I think trading is very counterintuitive in a way. Most people are brought up their whole life stressed that you need high % in anything you do to be a winner ie grades and sports. With trading its all about how much you will lose to what you can make. Therefore, in my personal trading I strive for 70% winners but generally if I am right in the 40% range I will still make good money due to my reward/risk. I love being right more then I am wrong, its natural and I could not completely abandon this psychology. This is why I have several automated systems that win on average 85-90% which of course have a worse reward/risk ratio. I run these automated so I can concentrate on the real meat of my plan which catches major turning points with minimal risk and riding them as far as I can.

Of course all of this is my opinion and there is no doubt there is lots of ways to make money in the markets. This is just what I have experienced and applied to my trading.
 
Quote from riaamaan:

You do great work apex....great work. Just wish I better understood how you derive your levels.

I always enjoy reading your posts. I also respect that you call it live and take your hits as well as your misses like a pro.
More...

He was referring to this post B1S2.

JJ
 
Quote from wave:

The new distribution and accumulation phase is taking place from 1498 to 1506. Most $ based stops will get picked off during these supply/demand switchovers. I don't advocate $ based stops. Just follow their footprints and switch over when they drop clues and stay out of their way stopwise.

Realise they have risk controls in place as well. This is where the clues are shown on the chart.
More...

I'm still in the dark on this one ...
 

Attachments

Quote from Buy1Sell2:

Here is a current Monthly SP futures continuation chart. I wanted to show this chart to indicate the current strength of the market on the big picture time frame. Don't get me wrong, we still have to watch the daily and weekly for clues, but as you can see, my chart method has been very strong when applied to this chart.
More...

... but this is being made abundantly clear.

Not as an exact method (I don't use time as a reference when trading), but rather as a concept which is implemented by successful traders everywhere.

While I do not believe this is the "only" way to trade, it most definitely is one of the ways to trade and make money. :)

JJ
 
Quote from JimmyJam:

... but this is being made abundantly clear.

Not as an exact method (I don't use time as a reference when trading), but rather as a concept which is implemented by successful traders everywhere.

While I do not believe this is the "only" way to trade, it most definitely is one of the ways to trade and make money. :)

JJ
More...

Yes, this is one strategy. There are many many viable strategies. There is only one proper way to trade though and that is to cut losses short and let winners run, no matter what strategy is employed.
 
Quote from Buy1Sell2:

Yes, this is one strategy. There are many many viable strategies. There is only one proper way to trade though and that is to cut losses short and let winners run, no matter what strategy is employed.
More...

I agree. But the cliche' "let winners run" must be kept in context of the strategy being used. A scalpers rendition will differ from a swing trader which will differ from a position trader. Yet all adhere to the principal. None of the interpretations or implementations are "improper".

Osorico
 
Long-term position players, 3 day to 1 week-swing traders, intraday traders and short-term scalpers all in one place, sweet.

Anybody wanna talk about what they think are the strengths and weakness of each approach to trading?

JJ

P.S. I believe this is how trading (and everything else is learned), not by someone telling you what is right, but rather through a process of dialogue and discussion which allows the individual trader the room to discover their own truth.
 
Quote from JimmyJam:

Long-term position players, 3 day to 1 week-swing traders, intraday traders and short-term scalpers all in one place, sweet.

Anybody wanna talk about what they think are the strengths and weakness of each approach to trading?

JJ

P.S. I believe this is how trading (and everything else is learned), not by someone telling you what is right, but rather through a process of dialogue and discussion which allows the individual trader the room to discover their own truth.
More...

Re: scalping...
http://www.elitetrader.com/vb/showthread.php?threadid=90428

There are "better" scalping threads but this one I hold near and dear... had an epiphany after reading it and I've never looked back. Right around the time I "quit" this thread.

Good trading,
Osorico
 
Status
Not open for further replies.
Back
Top