Why is this a subject of continual surprise?
I could give you my plan, with its explicit rules for entry and trade management, and I doubt you could bring yourself to follow it. Maybe after a few months in a sim account you could. Maybe not even then, depending on the psychological baggage you're carrying the from the sum of your life experiences.
Actually, you have, or at least more so than you may have thought.
I've divulged one of my primary "trading secrets" fully illustrated with a specific entry tactic (there are more than one if you study the setup) again and again this year, with step by step illustrations at the hard right edge. Anyone can apply the process to any instrument and determine whether or not it produces profits over time.
I guess it's just an ongoing general finding. NoD is probably just wondering where the ones that actually DO the work are. Maybe they just don't post much. They also probably don't want to be bothered with **what's next**. Let me explain...
After I read that last post, it was clear to me what I needed to do. I went back and gathered all her 2014 posts. Printed them all, read them all, highlighted what was important (to me) to develop my trading method/strategy/plan (whatever you want to call it). Here is the result so far (see attachment).
So, now, DB, **what's next**? But you already know what's next, I'll be bombarded with posts like :
"OK, Datum, so you did the work...BRAVO!!, now show me your audited multi-million $ statements, Scottsdale mansion, branded GULFSTREAM G3 as well as your GOLD plated bugatti veyron."
Before anyone starts asking me this, please let me tell you I am NOT consistently profitable yet as I am still in the back testing stages of my journey, but I can certainly tell you the method I've extracted from my hard work is without a shadow of a doubt a positive expectancy one. Will I be able to trade it LIVE with similar results? That's another story. One thing is for sure tho, I won't stop until I can. Because right here, right now, I am doing it all over again.......
What's hilarious is that position sizing has been distilled down into a science, and nowhere near as complicated as rocket science. These academics are generally clueless about something that can be figured out by almost any competent sophomore engineering student.Well, the academics at LTCM had even more illustrious backgrounds, and they were providing a 'foundation' for real trading.
Bands have groupies, F1 has pit lizards, don't be the equivalent for academia.
You realize what you are saying, right? That you have cracked the code to consistent profits.
You have this quantified and all the stats PhD's are still working on it.
Seriously!?
Surf
Hello, how are you? I´m new to ET, but I have been trading for almost 7 years now, 4 of them with PA, especifically BPA, but no consistent profits yet. I study a lot, I follow every session, every day. I read what you wrote and it got me interested. I copied it down here so you know, but I basically wanted to ask you if the trader you mantioned is a famous one or it´s someone close to you?When I started out, a trader not only told me his plan, he told me his plan for every trade, every day, called in advance. He made a huge profit that year. I could not bring myself to pull the trigger on ANY of those trades.
I could give you my plan, with its explicit rules for entry and trade management, and I doubt you could bring yourself to follow it. Maybe after a few months in a sim account you could. Maybe not even then, depending on the psychological baggage you're carrying the from the sum of your life experiences.
Interesting comments from everyone. I appreciate the replies even if they are off topic.
My main reason for posting this question was to learn and try and avoid making mistakes early,possibly accelerating the path to successful trading.
I have a long list of things I would do different in my career that would have saved me hundreds of thousands of dollars and perhaps put me in a better position than I'm in now. However, like qxr stated, the experience is invaluable.