hmm.no edges in the markets

Quote from bighog:

Speaking of having a so-called edge, it just might be something like this: Once filled, the profit objective is meaningless, your worries about making a sweet entry are now also meaningless, your timing for the entry is now also meaningless because the deed is done, the only worry is how to manage the trade.......NOTHING ELSE MATTERS NOW.

Once filled your focus is most intense during the first few ticks and or couple minutes depending on price action. Notice I said price "ACTION" and not price level alone. It is a cake-walk sitting still and simply watching price go to target or tag the max stop. How boring is that? In that case there should be NO worries because you pre-choose your targets to profit or lunch time. No sweat there bunky!

Trading futures can get very boring real fast, there must be something besides just money to keep you motivated for approx. 4 to 8 hours day-in-day-out. What better challenge can there be than sitting there and watching the action of your trade and making snap decisions about the trade itself: this is a dud, I like this puppy, ahh crap it is not acting right best to lunch it NOW, etc, etc. Those and many more are what motivates good traders, the DECISIONS made after the trade is filled, that's what floats our boats.

How we manage the FILLED trade is the entire game in my book, nothing else matters. NOTHING!!

PS: In a nutshell what all that means, once filled you must be diligent enough to be proud of yourself when you have done a good job at picking off which trades to throw out BEFORE the max stop is tagged and which trades you decide to ride toward/past target. That is the fun of it all.
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+1000
 
Quote from NoDoji:

Your screen shot of the chart was great, but it would be really helpful for those of us who've never even looked at a "renko" if you could post some live calls next week during a one- or two-hour time window so we can follow along and see how you work with it.

Just a quick post for each trade with entry and stop would be great. Please let us know where and when we can see this really cool edge in action :)
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Well, looks like we're not going to get any live calls to help with understanding "renko", but I'm definitely looking forward to the forthcoming trader porn when I return later:

Quote from nakachalet:

yes, toolazy, i'll try to remember to capture some screen shots next week NOT TO PROVE ANYTHING ABOUT ANYTHING, ok? but for personal pleasurable viewing only, K?
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Cheers!
 
Quote from NoDoji:

Your screen shot of the chart was great, but it would be really helpful for those of us who've never even looked at a "renko" if you could post some live calls next week during a one- or two-hour time window so we can follow along and see how you work with it.

Just a quick post for each trade with entry and stop would be great. Please let us know where and when we can see this really cool edge in action :)
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hi @NoDoji @toolazy et al

the markets have been kind and accommodating.

enjoy the attachments which do not prove anything about anything.

each pix just showed that someone executed buy orders at the opportune time.

tf partial chart was snapped at around 11:11 or so with stop loss in place per NoDoji, before closing out.

cl partial chart was taken at about 11:21 or so, also with stop loss in place per NoDoji, before closing out.

fortunately, markets extended her grace another day.
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my sincerest apology to chimera who started this thread. I am truly very sorry to have intruded and diverted some attention away.

also much thx to wrbtrader who reminded me of such encroachment.

thx much again everyone. happy and profitable trading to everyone.
 

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Quote from NoDoji:

Well, looks like we're not going to get any live calls to help with understanding "renko", but I'm definitely looking forward to the forthcoming trader porn when I return later:



Cheers!
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hi @NoDoji @toolazy et al

the markets have been kind and accommodating.

enjoy the attachments which do not prove anything about anything.

each pix just showed that someone executed buy orders at the opportune time.

tf partial chart was snapped at around 11:11 or so with stop loss in place per NoDoji, before closing out.

cl partial chart was taken at about 11:21 or so, also with stop loss in place per NoDoji, before closing out.

fortunately, markets extended her grace another day.
----------------
my sincerest apology to chimera who started this thread. I am truly very sorry to have intruded and diverted some attention away.

also much thx to wrbtrader who reminded me of such encroachment.

thx much again everyone. happy and profitable trading to everyone.

4 nodoji et 13 07 22 mon captured at about 11-11 am.png
This has been downloaded 0 time(s).
 

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Some good advice in here from Handle and Nitro, I would say. Novice traders would do well to read their posts. Trading, and even long term investing for a + return in constant dollars, is gambling, but good gamblers put the odds on their side. The majority of short term retail traders, and quite a few professionals, are not very good gamblers. If it is short term trading in the markets, and it isn't gambling, then it's illegal. (I don't consider true arbitrage to be trading.)

To make a lot of money from trading you need a lot, and you also must be a skillful gambler. And no matter how skillful you are, you can always have your head handed to you. And if what you are doing is illegal, you can always have your head handed to you in another way, though your wife may get to keep one of the Picasso's.
 
Quote from bighog:

Once filled your focus is done and your trade management aspect is best handled in passive, objective, unemotional fashion.

It is a cake-walk sitting still and simply watching price go to target or tag the max stop. How boring is that? In that case there should be NO worries because you pre-choose your targets to profit or lunch time. No sweat there bunky!

Trading futures can get very boring real fast, there must be something besides just money to keep you motivated for approx. 4 to 8 hours day-in-day-out.
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actually, there is nothing else involved with successful trading other than the harvest of money. Trading is not supposed to be exciting. It is not supposed to be a self-measuring tool, a comparison to other type-A men, a sporting event, gambling venture, biggest swinging contest, bragging rights competition or anything else that has anything to do otherwise than pure money.

THAT is the secret of successful trading. Boring, bland, systematic execution, controlled emotions, do it while enjoying other tasks (web surfing, lifting weights, cooking, etc) and quit asap when profitable enough for the day.

Take the ego, the gambling and the game out of trading... it suddenly becomes a profitable profession when focused on the money alone :cool:
 
Quote from piezoe:

...good gamblers put the odds on their side...
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Exactly.

It doesn't matter if one views trading as gambling or not. The real issue is if the trader has played a hand that has the odds in his/her favor in comparison to the opponents at the same table.
 
Quote from wrbtrader:

Exactly.

It doesn't matter if one views trading as gambling or not. The real issue is if the trader has played a hand that has the odds in his/her favor in comparison to the opponents at the same table.
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there is no table, and there are no other opponents. It is you and the dealer (market) alone. No one else is involved. Same as blackjack, totally unlike poker.
 
Quote from NoDoji:

Your use of the phrase "bullish market" means you've already used technical analysis. You've identified a trend. Random entries in the direction of a trend produce a profit more often than not.
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No, I saw Bernanke priming the pump_( this could be any bullish event-- price driver) nothing to do with TA.
 
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