How's the ES lately?

Steve, thanks for your valuable contributions on ET.

You're right. It doesn't really help a learner to have everything spelt out. The concepts that are put forward need to be understood well. Then its for the learner to re-create a process that works for oneself.

Chris (AMT4SWA) was bang on target when he said that "every trader must chisel his own strategy from his own rock".

I for one , find it very difficult to adopt & apply someone else's trading model. I need to 'own' the process.

I, very often, break a perfectly working model into bits and then re-create something new that's suited exclusively for my needs.

It's probably an inefficient/ineffective route to successful trading, but then that's me. And it's ultimately the way that works for me in the long run.


Quote from steve46:

I like to help but don't want to get into the habit of spelling out every last detail. Put some of yourself into the process. That way you will get much more out of it, as it will truly become your own.
Good luck
Steve
More...
 
Steve..........did u say something about studying for years.....?......sounds painfully familiar........finally thru creating systems for awhile...........reached the goal but strived too hard for perfection.........close is good enough.......your charts are very revealing and show what you are saying........very clearly........we are within the same area anyway..........systems that work are numerous...........successful traders are few and far between.......too much info for me includes volume which is great for most, news, oscillators, and all of what I call external information......
Squawkbox etc...S/R...PV...I don't care to watch as system gives all signals buy and sell anyway.............WHERE, WHEN, WHY is what I don't care about.......only extremely clear specific system signals......4 pictures tell me when to enter buy or sell........over and over.........these have been occuring for many years, just finally put everything together this last year....enter and exit on one of same 4 pictures/signals every time...... ..........I strive to never anticipate only trade right now picture on screen in front of me........I use 2 charts 1 long 1 short........long gives the signals while short gives early look............for early entry......
 
Quote from steve46:

Look here's the problem with volatility.

Volatility is like "the ocean".

It can be quiet, and stay that way a long time. Then for "no reason" or (reasons unknown to us), a process similar to the aftershock after a big quake, comes along and "ripples" the markets. These ripples, are part of a process called "long memory process". We try to model these "ripples" and find some way of predicting how long the aftershocks will "rattle" the markets.

This is the reason the exotic math is necessary.
More...


"Necessary" is an opinion - not a fact. All of the longwinded titles and topics you mentioned in your prior posts don't have anything to do with finding a trend, riding it out, managing risk and being patient and disciplined in execution - which is what profitable trading is about, not all the ego-driven mental masturbation you mentioned.

You may counter with something like "Well, you just don't understand it" or "you are just ignorant and uneducated" and after I was done laughing I would explain that something that makes such a huge elaborate analysis of what is actually a simple thing (human nature) is an arrogant waste of time.

You should try some more humility when conversing with humans.
 
Why would I be concerned. Your post means nothing to me.

YOU mean nothing to me.

Your inability to make a point tells me that you are agitated for reasons unknown to me. Frankly I could give a shit. You want to go postal on someone?, go outside and step on ants, you mental midget!!

There, Thats 20 seconds of my time that I will never get back

You're Welcome

Steve
 
Quote from steve46:

Why would I be concerned. Your post means nothing to me.

YOU mean nothing to me.

Your inability to make a point tells me that you are agitated for reasons unknown to me. Frankly I could give a shit. You want to go postal on someone?, go outside and step on ants, you mental midget!!

There, Thats 20 seconds of my time that I will never get back

You're Welcome

Steve
More...

First of all let me say that I respect Steve46 greatly for his market knowledge and trading ability.

He does a great service to ET by providing ideas that traders can use themselves to see if it helps them make money and improve their trading.

However, I would disagree with his earlier comments re the importance of maths. Maths is useful for sure. But, like a lot of things in trading it is not a necessary condition of success. There are so many different ways to make money trading. Some of the top traders may have no math, while others are quants with PhDs.

There are many different ways to trade successfully. Believe it or not, to be a successful full-time trader you don't even have to day trade. You might specialise in longer term trades. Or you could trade a mix of longer term stuff and daytrading like myself. You may trade one market exclusively or multiple markets at once. There is a lot of opportunity to make money in a lot of different areas. 100 trades a day or 1 trade a day or 10 trades a month? Which approach is best. Quite simply, the one that suits you. Although, being open and flexible I think is important.

One underlying aspect that never changes is the importance of understanding your competition. Trying to understand what the other traders who have executed their orders are thinking and feeling. The importance of observation and the powers of deductive reasoning. Who are the losers and how do they trade? Who are the winners and how do they trade?

Corruption underlines all market activity. Your job should you choose to accept it is to screw over your competition as ruthlessly as possible and try to avoid getting screwed over yourself.

Welcome to the Lions Den.

At times Steve comes across as far too aggressive and antagonistic, but that is not untypical of a trader. Competition is intense and you need to be tough to survive. No one cares about your trading but you.
 
I understand steve is semi-retired.

I understand steve has traded opm.

I understand steve has a consistent track record.

He has been on ET posting for years and his style has gone full circle into a no-bullshit mode.

He no longer has anything to prove or lose...he now recognizes that time is the thief, and does not waste it.

Forgive me steve...I feel I know you.

I will not insult you with pretty remarks and BS anymore...

I will not wish you good trading visually with written posts and trifle words, said without meaning, as I know it does not matter...as you will trade, make money, and use time....regardless of well wishing and pretty talk....

May the year 2006 be time well spent without the fluff..

Michael B.
 
Two truths.

Volume decreases around any holiday period and particularly, acutely, participation is slashed as the calendar year is ending.

There's little correlation between volume and volatility. If anything, the few size players who were left last week had to trade multiple prices to get their full line on. Hence a lot of quick auctioning up and down within value areas.
 
i agree. there are many ways to make money in the market. most times kiss works best. the secret is finding and learning a style that fits your emotional makeup.
Quote from Toad:

First of all let me say that I respect Steve46 greatly for his market knowledge and trading ability.

He does a great service to ET by providing ideas that traders can use themselves to see if it helps them make money and improve their trading.

However, I would disagree with his earlier comments re the importance of maths. Maths is useful for sure. But, like a lot of things in trading it is not a necessary condition of success. There are so many different ways to make money trading. Some of the top traders may have no math, while others are quants with PhDs.

There are many different ways to trade successfully. Believe it or not, to be a successful full-time trader you don't even have to day trade. You might specialise in longer term trades. Or you could trade a mix of longer term stuff and daytrading like myself. You may trade one market exclusively or multiple markets at once. There is a lot of opportunity to make money in a lot of different areas. 100 trades a day or 1 trade a day or 10 trades a month? Which approach is best. Quite simply, the one that suits you. Although, being open and flexible I think is important.

One underlying aspect that never changes is the importance of understanding your competition. Trying to understand what the other traders who have executed their orders are thinking and feeling. The importance of observation and the powers of deductive reasoning. Who are the losers and how do they trade? Who are the winners and how do they trade?

Corruption underlines all market activity. Your job should you choose to accept it is to screw over your competition as ruthlessly as possible and try to avoid getting screwed over yourself.

Welcome to the Lions Den.

At times Steve comes across as far too aggressive and antagonistic, but that is not untypical of a trader. Competition is intense and you need to be tough to survive. No one cares about your trading but you.
More...
 
You must log in or register to reply here.
Back
Top