GG, November - It Begins

ElCubano · Nov 20, 2002

Quote from Sayheywillie:
I hope my ramblings were marginally helpful.

very much so......thanks for the post

Sayheywillie · Nov 20, 2002

ElCubano:

Thanks for the kind words. In reviewing my post after it was online I realized that I meant for it to have a more positive tone to it. I'm glad that some of that intention did leak out. I guess I have to brush up on my writing skills.

inandlong · Nov 20, 2002

Now that's what I'm talikin' about Mr. Mays!

TriPack · Nov 20, 2002

One of the biggest problems with trading is that nothing works all of the time and everything works sometimes. In order to be successful you need to find an edge and consistently apply it. It's not easy and it's not a short process, but it can be done.

That's my new favorite definition of what trading is.

alfonso · Nov 20, 2002

Quote from NoviceTrader:

As usual your post is a pile of trash.

Oh, of course. Asking GG to post his current trades into his JOURNAL, what was I thinking! Why in the world would he want to do that...

:eek:

Gordon Gekko · Nov 21, 2002

Quote from NihabaAshi:

Maybe Baron can start another Forum for traders wanting to start a Journal without trades

i don't want to bicker with you. however, i want to make the following point. this is taken directly from ET:

"The place for keeping a daily journal of wins, losses, and anything else related to your quest of becoming a better trader."

NihabaAshi, this is not directed particularly at you... but, anyone who is outraged because i have 1 single journal thread without trades yet--which can easily not be read--IMO needs to leave the house more.

how difficult is it to not click on this thread if you aren't interested in it?

this is my last post regarding this.

Gordon Gekko · Nov 21, 2002

Quote from TriPack:

That's my new favorite definition of what trading is.

yes tripack, great quote. it makes sense to me. my main problem seems to be.... i can come up with many systems. i can have the rules and i can follow them. but i get discouraged when i go through all that work, make a month's worth of trades, and find out i barely made money or lost money with commissions. the edge is my problem. i have discipline and i'm smart enough to think of interesting concepts, but my ideas just don't seem to "beat" the market. people can sit around all day and make rules for their system, but if they don't give you a positive expectancy, you've still got problems.

One of the biggest problems with trading is that nothing works all of the time and everything works sometimes. In order to be successful you need to find an edge and consistently apply it. It's not easy and it's not a short process, but it can be done.

Gordon Gekko · Nov 21, 2002

Quote from Sayheywillie:

You spent a considerable amount of time in the chat room discussing a three bar reversal. By itself the pattern is meaningless. I won't waste your time with the reasons why because many of the issues were brought out by others in the chat room. What I will add is that you need to take this kernel of an idea, add some additional considerations, and turn it into what you think is a viable approach, if you can. Some of this may be subjective and some may be objective, your personality will determine what is right for you.

Going back to the three bar reversal pattern that you mentioned, there was a completed one on the 5 min es chart just before 11:30. I saw it, but other aspects of the market had me in a relatively neutral bias, so I passed on the trade. As it turns out, this one would have been a profitable trade, but for me the correct decision was to stay flat.

sayheywillie, thanks for the post. just for the record, in the chat room, i never got fully into the system that uses that pattern. the pattern is an element, but i also realize the pattern itself won't work. when i traded it, i had many filters in addition to the pattern. i also had a lot of ideas on how the pattern could be played. anyway, i know i'm babbling. i just want to be clear that i do realize you can't just take that pattern and play it every time it occurs. if i were to expand on a system in this journal, i would probably start with that one.

candletrader · Nov 21, 2002

Is this thread a trading journal?

dbphoenix · Nov 21, 2002

Quote from Gordon Gekko:

my main problem seems to be.... i can come up with many systems. i can have the rules and i can follow them. but i get discouraged when i go through all that work, make a month's worth of trades, and find out i barely made money or lost money with commissions. the edge is my problem. i have discipline and i'm smart enough to think of interesting concepts, but my ideas just don't seem to "beat" the market.

Which is the point of posting trades in a journal. How can people comment on what you're doing if they don't know what you're doing? If you refuse to post the trades, then one can be forgiven for coming to the conclusion that you're not so much interested in improving your results as you are in finding an audience for your complaints about how awful everything is.

--Db