hmm.no edges in the markets
- Thread starter chimera
- Start date
Thank you.
But let's face it Cornix and the other Price Action type traders don't use any fundamental components. These folks fully believe they can profit by using a commodity chart alone without any other inputs. Why try to muddy the waters about their claims-- just admit they seem far fetched.
surf
Well, due to lack of edges in the thread of edge experts, mine is saying AAPL will gap down due to earnings, and will pull NQ with it, pretty hard, eventually to 2930s.
Too bad I could not play with other gurus.
Too bad I could not play with other gurus.
The only input I use for my trade entries and trade management is price action:
The action of price signals a potential trade.
The action of price following the signal either fills my order or fails to do so.
The action of price following a filled order either causes price to hit my profit target or hit my stop loss, unless somewhere in between a conflicting signal appears in which case a new order is placed to either exit the position and wait for clarity or exit the position and reverse to the other side.
The only inputs I use in order to see valid setups (setups that meet the criteria of my trading plan) are individual price bars on a 5-min chart and a 1-min chart.
The only filtering mechanism I use to determine where technically reasonable stops and targets should be so I can calculate my risk:reward ratio on the trade ahead of time is support and resistance lines.
The only fundamental filtering mechanism I use is a calendar of major news releases. I avoid putting on any trades 10 minutes ahead of jobless claims, NFP, FOMC, Beige Book and CL inventories.
I don't use volume at all.
I posted my daily results on the P/L threads from 2008 to 2010. I'd say that's more than "on occasion".
There is no fear, nor is there upside. The way I trade the instrument I trade is not highly scalable. I've been invited to trade OPM and have no interest because a) it would involve learning to trade all over again in a very different fashion, and b) it would be a full time job where I'd have to answer to other people. I doubt anyone managing OPM is an intraday scalper.
Quote from NoDoji:
There is no fear, nor is there upside. The way I trade the instrument I trade is not highly scalable. I've been invited to trade OPM and have no interest because a) it would involve learning to trade all over again in a very different fashion, and b) it would be a full time job where I'd have to answer to other people. I doubt anyone managing OPM is an intraday scalper.
That is true for CL in this day & age. It has become a rather thin symbol since last fall thru now... for whatever reasons. Lately I've been able to fill 5-lots with no different slippage than 1-lots but in June that wasn't the case, CL went inexplicably dead back then like eminis have now gone dead for the past 2+ weeks and counting.
Speaking of which, TF is even less liquid than CL. Commonly slips -1 or -2 ticks on stops, even 1-lots. Again I'm able to turn 5-lots without any worse fare than 1-lots, but the ceiling to scale up in either TF or CL is small.
There would be no easily flipping 20 - 50 contracts of either without major issues on slippage, partial fills, chasing partial non-fills in at worse price just to get filled on all, etc.
And fwiw Surf knows T/A works, he's just incredibly bored and exercising his formidable debating skills. Surf, your time would be much better spent upstate here with me fishing for bass or lake trout, hauling them in hand over fist. How you all same cast of characters can stomach to beat this dead, rotten, decayed, skeletal T/A horse is way beyond me. I lost interest in that worthless banter in here YEARS ago now!
Quote from austinp:
And fwiw Surf knows T/A works, he's just incredibly bored and exercising his formidable debating skills. Surf, your time would be much better spent upstate here with me fishing for bass or lake trout, hauling them in hand over fist. How you all same cast of characters can stomach to beat this dead, rotten, decayed, skeletal T/A horse is way beyond me. I lost interest in that worthless banter in here YEARS ago now!
Im open to any fishing invites! going out with Yannick Loringer on the Ottawa river monday for walleyes and pike. surf
Quote from NoDoji:
The only input I use for my trade entries and trade management is price action:
The action of price signals a potential trade.
The action of price following the signal either fills my order or fails to do so.
The action of price following a filled order either causes price to hit my profit target or hit my stop loss, unless somewhere in between a conflicting signal appears in which case a new order is placed to either exit the position and wait for clarity or exit the position and reverse to the other side.
The only inputs I use in order to see valid setups (setups that meet the criteria of my trading plan) are individual price bars on a 5-min chart and a 1-min chart.
The only filtering mechanism I use to determine where technically reasonable stops and targets should be so I can calculate my risk:reward ratio on the trade ahead of time is support and resistance lines.
The only fundamental filtering mechanism I use is a calendar of major news releases. I avoid putting on any trades 10 minutes ahead of jobless claims, NFP, FOMC, Beige Book and CL inventories.
I don't use volume at all.
I posted my daily results on the P/L threads from 2008 to 2010. I'd say that's more than "on occasion".
There is no fear, nor is there upside. The way I trade the instrument I trade is not highly scalable. I've been invited to trade OPM and have no interest because a) it would involve learning to trade all over again in a very different fashion, and b) it would be a full time job where I'd have to answer to other people. I doubt anyone managing OPM is an intraday scalper.
I fully understand the scalability issue.
However, I would like to observe you trade in real time with no other information than a chart. You do realize that is incredibly rare and it would be quite impressive to observe it live. This is why I keep pushing the TA brigade here--- I want it to be true but my experience and influencers have led me the other way.
surf