Fading a Guru

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Quote from gotta_trade:

I'll predefine my risk and not risk more than 2% per trade.
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That's a no-no. If you aren't replicating the same risk profile, you aren't meeting the claim of "exact opposite".
 
Quote from Random.Capital:

That's a no-no. If you aren't replicating the same risk profile, you aren't meeting the claim of "exact opposite".
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Yes, you are correct.

I'm watching Larry's videos and reading his books. I'll develop a trading plan. Then, I'll fade it.
 
Quote from 1a2b3cppp:


When you said fade a "guru" I immediately thought of Woodie and Rockwell trading.

This guy makes a pretty convincing case that the Rockwell system is not profitable:

Fade those signals and post your results.
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Larry teaches people how to trade. He gives them alot of strategies to choose from. He teaches people how to make money and he has made alot of money himself. I'm in the process of watching his videos and reading his books. I'm going to develop a trading strategy (using his materials) then I'm going to trade (fade) it.

This is a journal about me developing a trading plan and then trading it.
 
here's how to fade cramer:

occasionally, he'll have a stock or group of stocks. he won't have been enthusiastic about them for a long time, and they'll have run a LOT. finally, he comes to like them (may even create a list or nickname for a couple stocks and say why this time is different, or how everyone must own this), and they're getting overextended. take any reversal bar as a great entry on the short side.

a general blind fade of cramer works just as well as his success rate - if you threw darts at a dart board (minus the fact that a premium mention will initially cause a stock to gap up)
 
Quote from gaj:

here's how to fade cramer:

occasionally, he'll have a stock or group of stocks. he won't have been enthusiastic about them for a long time, and they'll have run a LOT. finally, he comes to like them (may even create a list or nickname for a couple stocks and say why this time is different, or how everyone must own this), and they're getting overextended. take any reversal bar as a great entry on the short side.

a general blind fade of cramer works just as well as his success rate - if you threw darts at a dart board (minus the fact that a premium mention will initially cause a stock to gap up)
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Thank you. But this is a journal about me watching a few of Larry Williams' seminars and reading some of his books. Then I'm going to develop a trading plan and then trade (fade) it.

Last night, I watched the first 2 hours of one of his seminars. The seminar has 4 video tapes, so it's probably about 8 hours long.

He talked about alot of good stuff. The first part of my plan is identify a set-up market. Then find an entry trigger. Place protective stop, and define exit points.
 
Quote from gotta_trade:

Thank you. But this is a journal about me watching a few of Larry Williams' seminars and reading some of his books. Then I'm going to develop a trading plan and then trade (fade) it.

Last night, I watched the first 2 hours of one of his seminars. The seminar has 4 video tapes, so it's probably about 8 hours long.

He talked about alot of good stuff. The first part of my plan is identify a set-up market. Then find an entry trigger. Place protective stop, and define exit points.
More...

Hope you have fun, but you seem to be fixated on Larry Williams - maybe because you spent a lot of money on him.

But there is no way for any observer to know if you are executing (the reverse of) his strategy correctly unless you post a call of his from a newsletter directly from him. You may not be interpreting his system correctly, or you may not have the discipline to execute.

I'm not an advocate for Williams since I've never read or paid for his stuff, but there would be no way to know if the problem was you or his system. Fading a public call is much easier for someone else to verify.

I'm not sure you care if anybody else verifies it, but then I'm not sure why you would want to bother to post results then either.
 
Quote from MarketMasher:


But there is no way for any observer to know if you are executing (the reverse of) his strategy correctly unless you post a call of his from a newsletter directly from him. You may not be interpreting his system correctly, or you may not have the discipline to execute.

I'm not an advocate for Williams since I've never read or paid for his stuff, but there would be no way to know if the problem was you or his system. Fading a public call is much easier for someone else to verify.
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This is a journal about me developing a trading plan and trading it. That's all. I'm going to study some of Larry Williams' materials (I have to start somewhere). He teaches people how to trade and he himself has had alot of success. I think he's an intelligent and highly successful person. I have alot of respect for him.

I'm not doing anything different than any other trader has done. I'm learning from a guru. But, in the end, after my trading plan is developed (using LW's strategies, (as many people have done)), I'm going to fade my plan. That's what this journal is about, nothing more, nothing less.
 
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