How do YOU come up with trading ideas?

[dbphoenix]

Thanks for the link. More than anything it helped organize what i already knew.

From your posts you come off as purely a price action trader. Just out of curiosity: Are you a discretionary trader

Within the structure of my rules, yes.

And since you say you got done with testing a long time ago, how have your patterns worked for you in their current state?

Very well.

 

[slowcheetah]

from my life experience- i have observed 2 kind of people(very generalized)-the ones that are having creative mind and ones that can get the job done. there is a very rare group that can do both. and very tiny fraction of it are the traders\programmers\system traders. to OP-if you don't know where to look and you have no idea what do you want from your observations or you can't come up with any idea at all-i'm not sure if you need to go any further.
you can find the 'general hints and tips' here, but if after a while you can't come up any idea-leave it alone. move on. i have exact opposite mind- i can come up with 10 new trading ideas each and every day and probably at least another 10-20 'regular ones' based on my every day observations.
i mean-just some random s*** keeps popping up in my head. from design ideas to a algo for a score calculations in a video games(my son is keeps laughing at me),cause one that i was keep talking about with my family members 15 years ago been aborted by major software company just few years ago and it's their 'main feature'...

Yes but wouldn't you say that out 9 out of 10 of the ideas you can come up with you will not use because it would require you optimize the crap out of them and curve fit, thus making them unfit for real trading? And what really constitutes a new idea? Changing the parameters or adding some new condition isn't really a new idea. Afterall, the market can only really do 3 things- up, down, sideways. So profitable traders trading the same timeframe and same trading style aren't really doing anything different even though their exact entry and exit parameters might be slightly different.

 

[slowcheetah]

Within the structure of my rules, yes.

Would you say that is the case because you rules can't be defined precisely enough to be used by a computer? Because if not, why wouldn't you make a fully automated system with those same rules?

Very well.

Sorry I meant to ask how long have they worked well for you in their current state

 

[slowcheetah]

By reading elite trader. Not so much now, but several years ago this place was a treasure trove.

Only if you are talking about ideas for single trades, then maybe, I don't know. I highly doubt anyone can make a living trading like this though.

 

[dbphoenix]

Would you say that is the case because you rules can't be defined precisely enough to be used by a computer? Because if not, why wouldn't you make a fully automated system with those same rules?

Why would I want to do that?

Sorry I meant to ask how long have they worked well for you in their current state

About 15 yrs.

 

[slowcheetah]

Why would I want to do that?

Well, since you mentioned that you get bored and understandably since I imagine you just look for the same setups everyday. if you automated it you could do other things even if it's inside your house. You could just keep an eye on it through out the day

About 15 yrs.

So you haven't made any adjustment to the structure of your rules for that long?

 

[slowcheetah]

That's like saying buy low, sell high.

 

[rightsized]

altucher teaches how to get ideas,

http://www.jamesaltucher.com/2014/05/the-ultimate-guide-for-becoming-an-idea-machine/

 

[rightsized]

Well, since you mentioned that you get bored and understandably since I imagine you just look for the same setups everyday. if you automated it you could do other things even if it's inside your house. You could just keep an eye on it through out the day



So you haven't made any adjustment to the structure of your rules for that long?

What DB says is impossible, he is clearly making this up and or exagerating. the markets have changed radically, the structure itself is different, therefore what he says CAN NOT be true.

 

[dbphoenix]

Well, since you mentioned that you get bored and understandably since I imagine you just look for the same setups everyday. if you automated it you could do other things even if it's inside your house. You could just keep an eye on it through out the day

The trading itself is interesting, but watching it unfold is pedestrian. This morning, for example, the trading was done by 0940. All that was left was for price to reach the end of its run. And I only trade for 90-120m, so I have plenty of time to do other things.

So you haven't made any adjustment to the structure of your rules for that long?

No.

You're welcome to try and code the rules if you like. They're on p13 or so: www.traderslaboratory.com/forums/wyckoff-forum/16270-if-you-can-draw-straight-line.html#post179217