Quote from 1a2b3cppp:
Good questions. Do you know any profitable "long term traders" or "swing traders" I could talk to?
I know
you based upon the real-time before the fact trades you posted in your trade journal. There's others publicly known on Wall Street but I'm sure you don't have access to their resources but I do not know them personally to hook you up with a discussion with them.
Quote from 1a2b3cppp:
...Regarding day trading, it seems to me that if price is predictable, it would be on a shorter term using temporary imbalances that may be visible on the DOM. I made a DOM thread but it got filled up with nonsense from a few posters who like to write a lot without saying anything...
See, I thought you were talking about "trend direction" which is why I was wondering why you were
not talking to long term traders about such. It now seems like you're talking about "tick direction" as in trying to predict the direction and that
now explains why you've been trying to learn the methods by scalpers and day traders that are into such a small time frame. Further, I just now remember you posting second charts or tick charts in a thread here at ET.
Let me know if I'm right about your definition of "price direction" involving the next few ticks. Also, jumping from long term trading into scalping...that's a tough gig to do as I'm sure you've have already notice by now.
Quote from 1a2b3cppp:
...I have stated before that all non-random trading is predicting because you are predicting that price will go in your direction. Even the way I trade is predicting. I am predicting that price will go back up before it goes to zero. I don't know when, but I am predicting it will happen at some point...
Sorry, I'm not into the random theory discussions, coin flip discussions or prediction discussions. That implies traders are concentrating on the trade method and not anything else that's arguably just as important as the trade method on most trading days.
The most important edge is
you involving how you manage yourself when you interact with the markets.
Quote from 1a2b3cppp:
...I just meant that I don't use margin and I don't use so much size that I run the risk of blowing out. That's why everyone says averaging down is bad, btw, is because people do too much too soon and blow their accounts. Since I do not know where price is going to go, I have to start small. That's also a limitation of my style of trading. If price only retraces a little bit before going up, I won't make very much money because I'll only have a small position. And if price retraces and I open a position and then price chops around for days/weeks/months, I sit on drawdown waiting for it to go back up, or to go down further so I can buy more...
I think you're still talking about "position size management". In contrast, in those other threads, I thought you were talking about something completely different involving position size management.
Anyways, you're basically saying you're a profitable trader but your profits are small via the fact you have this fear of blowing out.
Ok, I get it now. Maybe you should be dealing more with the "psychological aspects of trading" considering day traders and scalpers doesn't seem like the answer you need to help you get over the fear of "increasing" your position size. I say this only because there are a few journals here at ET involving traders that made consistent small profits and couldn't get by that mental barrier to increase their position size. In contrast, they selected to instead try to learn a new method.
If it ain't broke, don't fix it.
Quote from 1a2b3cppp:
...I'm looking for a profitable method that someone can teach. I am not interested in learning vague concepts that fill up long threads with a bunch of "great post" replies when nothing was actually said that is helpful in real time...
But with all the talk of "trends," and TA, you'd think someone, somewhere would've shown proof that what they do works. I mean come on, if "trend trading" is actually an edge (and I strongly suspect that it is not, but that's another topic), it's not going to disappear if more people start doing it. Can you imagine market makers going "oh my gosh! All those retail traders understand the trend now! We need to make the S&P500 go down instead of up like it's supposed to!"
edit - NoDoji, I am specifically not referring to you in that last paragraph.
You already have a strong bias against those at ET that have attempted to teach you even though you don't directly attack them while they're sharing their methods with you. Instead, you carefully walk a fine line via knowing its bad taste to attack those that have freely taken their time & energy to help you here at ET. You then attack the words like gurus, vendors and book writers even though they were not the ones helping you here at ET. More importantly, they were not the ones here that you've become frustrated with in reference to those ET members that have participated in your threads with their methods.
Seriously, this is not a personal attack. You should put all of your efforts into your long term trading because that's where the money is at for you regardless if the profits are consistently small from trade to trade assuming your goal is to make money. Concentrate on the psychological issues involving increasing your position size unless the real issue is that you're under capitalized. If the latter, that can easily be fixed (e.g. get another job and save your money like crazy until you're properly capitalized to put on the appropriate position size in those long term trades).
Stick with what you know.
