Quote from Laissez Faire:
I think you guys are starting to like each other now
Actually, it`s kinda cute
No point on leaving on a sour note...
Good luck to you LF...won't be coming up your way unfortunately
NiN
ES Journal Archive (2011)
- Thread starter Buy1Sell2
- Start date
- Status
No point on leaving on a sour note...
Good luck to you LF...won't be coming up your way unfortunately
NiN
You are welcome.
Have a nice trip!
Quote from iloveoptions:
Not close enough for me
I left early the day and did not check msg until now.
There is a reason why 1300 has to tag but going higher is not something I have any bias to support at that time.
Quote from Laissez Faire:
I think you guys are starting to like each other now
Actually, it`s kinda cute
I think it is EXTREMELY funny that he decided to leave, and tried to justify his trading saying he only posts his "extreme trades" and he trades with the "runners", etc, etc, etc BS just one day after I completely exposed his losing D'Alembert averaging betting scheme in public, that happens to win 90% of the time, but loses big anyway. At least he has some honor left unlike that other whatsisname222, that on overnight thu-fri lost so big in his 2 unit averaging trade, that any purported gains from scalping the last 30 days simply evaporated. That is of course in his reloaded papertrade SIM brain...and has the nerve to ask to be hired...
http://upload.wikimedia.org/wikipedia/commons/d/df/Alembert.jpg
"One study examined traders working in the City of London's investment banks. They each watched a graph being plotted on a computer screen, similar to a real-time graph of a stock price or index. Using three computer keys, they had to raise the value as high as possible. They were warned that the value showed random variations, but that the keys might have some effect. In fact, the fluctuations were not affected by the keys.[16][6] The traders' ratings of their success measured their susceptibility to the illusion of control. This score was then compared with each trader's performance. Those who were more prone to the illusion scored significantly lower on analysis, risk management and contribution to profits. They also earned significantly less."
http://en.wikipedia.org/wiki/Illusion_of_control
averaging in won't work for scalpers,you seem to know little more than scalping when it comes to trading,the 95% of all 1st year bust out traders are all scalpers,you've provided nothing more than negative inuendos in multiple posts on averaging,even when explained,you refuse to let the info register,i think you've made your point,and the scalpers agree with you. I've been sim trading ,scalping for the last 5 weeks and i'm down 13k,90% of the losses were on stops and the market came back to where the position would have been profitable and ran,perhaps you could post something useful,the anti averaging thing is way past old,why don't you show all us dummies how to scalp and use stops,live ,so we know your not just hot air,another common complainer on ET..YOU CONVINCE ME....i never used stops before,i always watched and added or got out if wrong,using stops i worry less about losses and they pile up fast,I'm going to try using far away emergency stops...so far scalping takes me away from the market and into a frenzied w/l game,i can tell you where the market is going ,but can't make any money with this method,any advice?
I have an intra-day strategy that allows for only a few entries. However; my brain tries to make trades that the strategy does not follow. When I lose it is usually because I am not following the strategy.
I like being in a trade and that influences bad decisions, especially on a non-tradeable day. If I was to follow the strategy I would raise my winning percentage up much higher.
I started with scalping. I was just selling strength and buying weakness....in other words I was trying to pick tops and bottoms with really small stops. So my win percentage was low but I still made a little money because when I did win I usually took a couple of points. But, I had no idea if the run could continue for more points because I knew nothing about trading. So when I made .75-2pts I got out of the trade.
If you are intra-day trading you need to shoot for trades that should go for at least 5-15pts with 3-5pts stop. That is just how the ES moves. So taking 100 scalps in a day and making a little bit and letting your broker take the rest in fees is no way to trade. I would rather take 5pts a day on 2-3 trades if that.
I like being in a trade and that influences bad decisions, especially on a non-tradeable day. If I was to follow the strategy I would raise my winning percentage up much higher.
I started with scalping. I was just selling strength and buying weakness....in other words I was trying to pick tops and bottoms with really small stops. So my win percentage was low but I still made a little money because when I did win I usually took a couple of points. But, I had no idea if the run could continue for more points because I knew nothing about trading. So when I made .75-2pts I got out of the trade.
If you are intra-day trading you need to shoot for trades that should go for at least 5-15pts with 3-5pts stop. That is just how the ES moves. So taking 100 scalps in a day and making a little bit and letting your broker take the rest in fees is no way to trade. I would rather take 5pts a day on 2-3 trades if that.
I have to agree with Ammo, this guy is a clown, constantly ragging on others while alot of his trading seems sub-par.
As for scalping vs swing trading (albeit averaging in) i can say both can be done successfully. However, i know alot more people who have failed with the scalping or even day trading.
I do happen to do day trading and swing trading - however, the market is not what many think and it will not stop and turn precisely when you have your charts with fib/support/resistance/trend lines all the time. I work on consistent edge and most of my swings trades (rarely lasting more than a week) are mostly averaged in while i build a small position.
There is nothing wrong with this type of trading, i know what my max risk on each trade and criteria for when trade is wrong. This is something you have to figure out with risk management and work on with your edge.
I cannot see anything wrong with building a position - sometimes when my trade has major confirmation i will add to a winner significantly. Markets are not as efficient as everyone likes to believe, traders are emotional creatures and news and data can often overshoot your positions.
When i mean average in - i don't mean blindly adding every 10 points against you but building around the confirmations the market is giving you. E.g. a trader i knew blew out half his account trying to average in against the massive not stop up-days starting 27/06 in the NQ. The market closed at near HOD every single day. To me this was suicide trading - the guy was just averaging for the sake of averaging - he had no confirmation and the market was showing zero signs of turning. Bad risk management and average-in stategy is sure thing for a blowout.
In swing trading i truly believe you either a strong or weak hand - if you are weak hand and cannot handle any sort of heat whatsoever then you better make sure you have tight money management and extreme discipline. The markets are designed to weed out the weak.
I prefer to average in or even add to winners in my swing trading and my swing trading account has consistently out-preformed my day trading by a massive margin.
I would say to Eud - just stop the constant shi*te and jabs and just freaking trade. Stop thinking you know everything because odds are you are just a piker like many before you who constantly made attacks at ones strategy.
As for scalping vs swing trading (albeit averaging in) i can say both can be done successfully. However, i know alot more people who have failed with the scalping or even day trading.
I do happen to do day trading and swing trading - however, the market is not what many think and it will not stop and turn precisely when you have your charts with fib/support/resistance/trend lines all the time. I work on consistent edge and most of my swings trades (rarely lasting more than a week) are mostly averaged in while i build a small position.
There is nothing wrong with this type of trading, i know what my max risk on each trade and criteria for when trade is wrong. This is something you have to figure out with risk management and work on with your edge.
I cannot see anything wrong with building a position - sometimes when my trade has major confirmation i will add to a winner significantly. Markets are not as efficient as everyone likes to believe, traders are emotional creatures and news and data can often overshoot your positions.
When i mean average in - i don't mean blindly adding every 10 points against you but building around the confirmations the market is giving you. E.g. a trader i knew blew out half his account trying to average in against the massive not stop up-days starting 27/06 in the NQ. The market closed at near HOD every single day. To me this was suicide trading - the guy was just averaging for the sake of averaging - he had no confirmation and the market was showing zero signs of turning. Bad risk management and average-in stategy is sure thing for a blowout.
In swing trading i truly believe you either a strong or weak hand - if you are weak hand and cannot handle any sort of heat whatsoever then you better make sure you have tight money management and extreme discipline. The markets are designed to weed out the weak.
I prefer to average in or even add to winners in my swing trading and my swing trading account has consistently out-preformed my day trading by a massive margin.
I would say to Eud - just stop the constant shi*te and jabs and just freaking trade. Stop thinking you know everything because odds are you are just a piker like many before you who constantly made attacks at ones strategy.
Would you guys classify me as a scalper? I don't think of my style as scalping in the purest sense. Many ultrahigh speed trades. I don't really do that do I? Once in a trade I have some idea about how long I'll hold it and the target, but the price action that follows entry ultimately determines what i do.
I'm not even sure I have a strategy, i guess I do but it's certainly not explicit. I try get a feel for the ebb and flow and just go with it.
I'm not even sure I have a strategy, i guess I do but it's certainly not explicit. I try get a feel for the ebb and flow and just go with it.
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