If you want to fail as a trader, study TA

[Redneck]

Quote from macattack:

Why do you say confusing stuff like "the only plan required is............................"?

I'm pretty sure you stated numerous times you need to follow a process, and I don't think you were referring to the process you posted above, not that I have anything against that particular process. You just say contradictory things and it's rather confusing.

I've asked before if I should just use my brain & eyes and buy when my logic tells me it's a good time to buy, and you say no I need to follow a process.

I ask a specific question about creating a process, and you say I don't need a process.

You've said before if you're making consistent money and your bank account is growing then you know you're doing the right thing.

Then someone posts how they trade and make consistent money and you tell them they're doing it wrong.

Because TE is trying to get you to think for yourself – And you can’t help someone learn to think for their self – by telling them what to think


Everything you assert in this post I can find a post by TE that is the direct opposite – but yet you persist... AND ignore reality….


It was painful for me the first time – unfortunately things are no better now…

RN

 

[Redneck]

Quote from macattack:

You've said you trade stocks with an ADR of 50 cents or greater. If time=money then isn't the guy that only trades stocks with an ADR of $1 or greater taking greater advantage of the time=money equation?

Aren't you wasting time by trading stocks with an ADR less than $1? There's plenty of them out there.

What is a trader’s number one… most important… uno numero… top… most important… all consuming… PRIORITY……

eta - When you get the answer - drill it into your head....



RN

 

[NoDoji]

Quote from Redneck trader:

What is a trader’s number one… most important… uno numero… top… most important… all consuming… PRIORITY……


RN

Go potty BEFORE the market opens?

XXXOOO

 

[Redneck]

Quote from NoDoji:

Go potty BEFORE the market opens?

XXXOOO

Yes Ma'am

RN

 

[blox87]

Quote from Redneck trader:

What is a trader’s number one… most important… uno numero… top… most important… all consuming… PRIORITY……

eta - When you get the answer - drill it into your head....



RN

Risk Control

 

[Redneck]

Quote from blox87:

Risk Control

Yes Sir

RN

 

[mindtrade]

Quote from Redneck trader:

Yes Sir

RN

I thought it was making money, just shows I still have A LOT to learn.

 

[gktk]

TE: Re: automatic scans

I have setup scans for minimum ADR, price ranges that correspond to my account size as well as % of 30 day average volume compared to current volume ie trying to see if / where "the generals" might be leaving their tracks.

This still brings up a fair few stocks (30+), any recommendations on how to further bring this down to a manageable level as they are seem like ideal trading candidates ie what can i look out for to further bring it down ?

I am thinking last daily range is a NRB so potential for WRb is greater

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DT is the only one who seems to have taken the AR seriously, and actually set up his own little automated scans
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Quote from The Expert:

A riddle:eek:

What the fuk

AR+BE=Time=Money

How many times do I have to say it.

DT is the only one who seems to have taken the AR seriously, and actually set up his own little automated scans

If you want to make money trading, then, you must get off your lazy fat arse and do some work, for, no one said that it is easy, for, anything worthwhile is not easy, but, it gets easier over time with experience.

A wise man learns from the mistakes of others.

One does not have to know about the others mistakes, but, what they have done to avoid repeating the mistakes is what must be known, so, when you read something you must think beyond the written words, for, everything happens for a reason.

TE

 

[Mysteron]

Quote from The Expert:

...
DT is the only one who seems to have taken the AR seriously, and actually set up his own little automated scans

If you want to make money trading, then, you must get off your lazy fat arse and do some work, for, no one said that it is easy, for, anything worthwhile is not easy, but, it gets easier over time with experience....

TE

I use the free screener Finviz to do initial screening for various criteria and obtain a csv file containing ticker symbols plus a lot of unimportant crap. Unfortunately Finviz can screen ATR but not daily range or ADR. Then I use my own code in matlab (I doubt many here have heard of that) to extract the tickers and get the historic shareprice data from Yahoo and calculate and plot ADR and an estimate of volatility. The result is lots of jpg files which are viewed with the free Faststone image viewer which can generate contact sheets, one page of which is attached below. The process takes me a few minutes. The next step is visual inspection to select for AR.

 

[Mysteron]

Quote from Mysteron:

The wiggly line in question is a MA and by definition it is derived from current and past price so it therefore lags. Some people seem to think that price reverts to the mean, i.e that the MA leads the price, and can therefore be a predictor of price.

I don't believe that, its not good maths.

The only way that MA could possibly be a predictor of price is if a sufficlently large number of traders believed it to be true in order to make the prophecy self-fulfulling. So its really a question of belief and faith.

Personally, I think that the idea of price reverting to a mean is nonsense.

I think its more correct to state that the idea of price reverting to the mean is just a misconception perpetuated by those who propose unscientific explanations of the world. I recall Dr BB of Top Dog Trading giving away a free setup called the 'rubber band method' in one of his free introductory videos. He claimed that price reverts to a 50 period MA. In fact I couldn't find examples for which that occured as often as he claimed, and it occured to me that he had in fact used a smaller period MA and was possibly making false claims. That together with nonsensical statements like 'energies coming together' when describing various indicators shattered any illusions that his courses were of value.

The simple fact is that if price meanders about, then by choosing a small enough period MA then there will be crossings of price and the mean because the mean is able to catch up with the price, and not because price reverts to the mean. So there is no need to invoke a self-fulfilling prohecy. Its entirely possible that money can be made by assuming the idea of price reverting to the mean, its just a fallacious idea and avoids deeper thinking to understand the reality.