ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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I have read some of the posts here and would like to respond to one ongoing debate. That is whether or not Romik is trading a self destructive system. Romik's trading the whipsaws until he finds a winner is just fine. The key to that system is to stop out very quickly so that the losses are small even when size has been increased. What he is doing is not a Martingale. A Martingale involves reaping a reward that is equal to the losses while doubling size each time. That is not what romik is doing. He is taking a larger profit than the losses when the winner comes in and not doubling. He is correct--it is virtually impossible to lose. What gets in the way of the system, as I have mentioned to him before, is the human mind. The human trader gets frustrated and goes off the system and then doesn't take the next trade. The next trade ends up being the big winner. Keep the losses small Romik and you're fine. 
I have a proposal. There has been discussion of a 94% successful program/system. I would very much like to see that in action--as would others. My proposal is simply that George present realtime calls with stops (or without if not using them) and I'll keep track of the winning percentage for a period of 4 weeks. George, this would not reveal your system, just the trades that result from it. I believe it's a good idea and would like to implement beginning tomorrow.
Quote from Buy1Sell2:
I have a proposal. There has been discussion of a 94% successful program/system. I would very much like to see that in action--as would others. My proposal is simply that George present realtime calls with stops (or without if not using them) and I'll keep track of the winning percentage for a period of 4 weeks. George, this would not reveal your system, just the trades that result from it. I believe it's a good idea and would like to implement beginning tomorrow.
Didn't he try and make some calls under his other handle? I believe he failed dramatically.
Quote from Buy1Sell2:
..My proposal is simply that George present realtime calls with stops (or without if not using them) and I'll keep track of the winning percentage for a period of 4 weeks. George, this would not reveal your system, just the trades that result from it. I believe it's a good idea and would like to implement beginning tomorrow.
since his system is so simple as he said, the realtime calls will reveal the system, imho.
Quote from Buy1Sell2:
He is correct--it is virtually impossible to lose. What gets in the way of the system, as I have mentioned to him before, is the human mind. The human trader gets frustrated and goes off the system and then doesn't take the next trade. The next trade ends up being the big winner. Keep the losses small Romik and you're fine.
Dude, didn't you start a whole thread dismissing the idea of intraday trading as an unworthy (yet somehow profitable) endeavor? It seems like what is getting in the way here is systemized preservation of ego. Instead trade to win, don't trade not to lose.
No offense, I'm just saying, by what you seem to be advising here, it's no wonder you don't eat your own cooking . . .
Mr. Nkhoi...........u r correct........note the post to romik today.......hate to admit but it is buy.......NQ only......romik is doing okay with his thinking b1, it is just that the short chart is causing too many trades.....he can be just as close with entries near the turns with longer charts, have a clearer picture, and fewer trades......still in the saddle, with spurs on, to never miss the big one/s.....romik i can't call trades often.....here for grins but still wish all to do well...i never enjoy seeing anyone lose.....anyone.....
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