Grinding it out, day after day
- Thread starter lescor
- Start date
Just barley eked out some green to keep the weekly winning streak alive at 8. +1k on 328,000 shares volume. Daily pl 0, -2, -9, +8, +4.
On the wrong side of some nasty trends, like CMG today. Also managed to avoid carnage in SWM today, the stock that gave me my worst trade of the year back in February.
On the wrong side of some nasty trends, like CMG today. Also managed to avoid carnage in SWM today, the stock that gave me my worst trade of the year back in February.
I don't believe Corey offers a bootcamp as he has already pointed out that his trading is in liquidity sensitive issues, and encouraging competition (by disclosing more detailed information) would reduce his likely profitability.
Actually, that might be the clue in itself => If you have traded many years, and have become very knowledgeable with trading methods that have been successful for you, <i>keep them close to your vest</i>, so that your trading edge is not diluted by other traders - ultimately resulting in the loss of profitability for all such traders (see Don's thread as a reference; pair trading is another example => if lots of people know about it, then you can bet its now just another useless strategy that doesn't work)
That's one fundamental difference between the worlds of stock trading and futures trading.
Enough players can step into an illiquid stock or stocks and destroy them. But that cannot happen in the futures world... it's a game of hedge funds and HFTs who totally control the tape. The actual, realistic amount of active futures traders at any given time cannot push a commodity market one iota.
Theoretically, enough people could. Realistically, there never has been, is not and never will be enough retail traders in ES or TF or NQ or CL or ZS or ZC or ZG to render any approach useless that has a true, lasting edge by design.
NOt to turn this into a RTM thread, but I keep reading this, along with "sharply increased volatility."
Wouldnt the whole point be to avoid unusual (abnormal moves) in the stocks? I thought trying to use statistics or another method in a sideways/uneventful/rangebound (read: boring) market is the goal..
To me identifying sharp explosive moves is the opposite of what RTM is about. B/c my logic is that such a move is probably driven by news or technical setup, and is an isloated case which research probably didnt account for.
I remember seeing a link to a .pdf file that discussed variuous market conditions. breakout, rangebound, and trending, I believe. And from I remember (I wish I still has that link) markets were only trending 33% of the time. so RTM makes sense, at least on the surface.
Couple that with the fact that the majority of traders lose money, and that most of the strategies out there that are "popular" in books/seminars, are trending following and breakouts. which makes sense since the majority of trades are losing, and following such strats. This is my simply logic, feel free to correct me. Just kind of talking out loud.
