Is ANYBODY willing to share some basics?

Quote from neo_hr:

Dear Traders!

his is an issue that has been adressed a couple of times on other threads and it all comes down to one thing : If a trader is successful then he aint gonna share it wit' you! Period.

OK, obviously nobodys gonna give you a method that works so you can make money and do nothing but... after doing my DD for like 2 , 3 years I realized that it would really help us all a lot if we could share some ideas or some general principles. Or at least some systems that DONT work anymore but just to give new ones an idea as what to look for. All I been getting till recently is psych stuff, (I understand that trading IS psychology , that any edge can be negated at anytime but lately that kind of thinking switched me from system, system, system to psych-I-cant-pull-the-trigger...cos its all so relativ.) I could flip a coin at anytime and buy or sell accordingly.

So I took some time off to "regroup" (ok , i had some other things to do) and get my thinking straight and find the balance. Now im begining to ramble...

My point is that it would have been excellent had we stuck with the threads like Daytrading stratedies, Tradingmethods and techniques and not let them slip away after getting flooded with personal discussions about "Oh im good, follow me-my site-my chat..." ion one side and "SHOW ME UR ACCT: BALANCE" on the other :(

A lot of newer traders (ME, me :) )would benefit enormously that way - starting with the basics and then building alone upon that foundation.

Just my not having anything better to do so I post to ET.

Good luck my trading friends and have The merriest Christmas and a great New "Bull" Year if I dont post here until than!
Alex
More...

I have a method that works. I've been using the same method for a few years intraday and could have used it daily instead. It worked well on Currencies. After a bit of messing around with timescales and ma lengths it works well on hsi (so will work on nk or em or r2000 also) and it was developed on the traditional commodity futures.

What I won't share is my exact adaptation of it to my market but the basics of the method are clearly described in a document NQoos dug up somewhere ... so here's kiwi's prescription for becoming successful.

1. Money management, start of risking less than 1% of equity on any trade (0% (paper) until you are winning consistently on paper, 1/4% for a few weeks then scale up). When you are going well keep your risk under 2% unless you have studied enough money management to justify a bigger number (but ignore Ryan's stuff).

Risk on a trade = how much you lose if you have to exit at the maximum loss including commissions and slippage.

2. Psychology: read Douglas's books and get them into your head. Steenbarger as well.

3. Method:
http://www.trading-naked.com/FloorTraderMethod.htm
with application examples here:
http://www.trading-naked.com/WhatsNew.htm

Thats it. If you want to succeed in trading this will let you do it. Learn this old method that will take advantage of what trends you get and stick with it until it works for you. Expect to spend months getting to the point where you risk 1/4% per trade.

If you want support with it you could probably get it from NQoos Yahoo group.
 
Here's something basic: learn the market you are going to trade as a specific market. Know what that thing is, its nature, what causes it to move, who the other players are and what they are looking at, what differentiates this market from any other, how this market relates and reacts to others. I know that you are looking more for some kind of template to throw over the seemingly random moving figures, but lately it's as if people need permission of some sort to try something that makes them money. Sit down and watch the screens, look for where the meaningful moves in your time frame occur and the circumstances under which they happen, you are bound to figure out something.
 
Quote from kiwi_trader:

I have a method that works. I've been using the same method for a few years intraday and could have used it daily instead. It worked well on Currencies. After a bit of messing around with timescales and ma lengths it works well on hsi (so will work on nk or em or r2000 also) and it was developed on the traditional commodity futures.

What I won't share is my exact adaptation of it to my market but the basics of the method are clearly described in a document NQoos dug up somewhere ... so here's kiwi's prescription for becoming successful.

1. Money management, start of risking less than 1% of equity on any trade (0% (paper) until you are winning consistently on paper, 1/4% for a few weeks then scale up). When you are going well keep your risk under 2% unless you have studied enough money management to justify a bigger number (but ignore Ryan's stuff).

Risk on a trade = how much you lose if you have to exit at the maximum loss including commissions and slippage.

2. Psychology: read Douglas's books and get them into your head. Steenbarger as well.

3. Method:
http://www.trading-naked.com/FloorTraderMethod.htm
with application examples here:
http://www.trading-naked.com/WhatsNew.htm

Thats it. If you want to succeed in trading this will let you do it. Learn this old method that will take advantage of what trends you get and stick with it until it works for you. Expect to spend months getting to the point where you risk 1/4% per trade.

If you want support with it you could probably get it from NQoos Yahoo group.
More...
Quote from illiquid:

Here's something basic: learn the market you are going to trade as a specific market. Know what that thing is, its nature, what causes it to move, who the other players are and what they are looking at, what differentiates this market from any other, how this market relates and reacts to others. I know that you are looking more for some kind of template to throw over the seemingly random moving figures, but lately it's as if people need permission of some sort to try something that makes them money. Sit down and watch the screens, look for where the meaningful moves in your time frame occur and the circumstances under which they happen, you are bound to figure out something.
More...
Neo,

What Illiquid says is correct also. IMO when finding a trading method one is compatible with the trick is to find a sound structure and then study your chosen market and tweak it until its yours.

Floor Traders System of trend trading is one sound structure; Support and resistance with the trend or against is another.

Most people will find it easiest to have a reasonably high ratio of wins to losses especially if day trading so consider targets for the majority of your position rather than trailing stops. But if you hate sitting watching a big move leave you at the station then consider trailing all or a large portion of your position.

The argument that a successful trader won't share his method is invalid: A trend trading method is supported by the addition of other traders. What most of us won't share is our exact strategy - in part because we don't think someone else should get the benefit without doing the work.

Good fortune.
 
Yes......watch one minute volume one the ES....get good at it...it will tell you all you need to know...check please....lencho.
 
I hope you night owls took notes......thats the only technical advice I will ever give on ET...good trading to all...lencho.
 
A little clarification is in order.

I am the co-founder of Puretick.com. I met my partner on a site to be unnamed. Even though I lost money on it, still it might have been a good thing because it led to a new business venture.

I did this after spending 4 years learning this business and thousands of dollars taking personal training from some of the best known gurus in the country. It still took years to become profitable.

It is not about setups people. My first advisor had me flip a coin and she would take a trade. Did this for 2 days in front of me. She made money. I will bet no one knows how she did it?

Anyway, back to marketing. My goal was not only to have a successful website but to be the "fastest growing" and best site at retaining clients, period. So far we are achieving that goal.

To the end of attracting new clients I advised Cajun to go and put ads on CNBC, contact other trading advisors, place magazine ads, and continue on our book.

If he posted too many replies, well he got carried away. To me that is better than a guy who sleeps on the job. And yes there will be a dozen people who get highly upset. They do not need to join our site. They can yell at the world or howl at the moon. Or better yet, take the opposite side of our trades.

I paid my dues trading. I make no apologies toward aggressive promotion. The only people I owe allegiance too is our loyal clients. I love it when a new trader thanks me for at least trying to help him or her avoid the 4 year learning curve that I had to go through.

And a bit of reality guys. No you will not be able to log on to our web site and get the holy grail of trading. 92% of you will not be able to pull the trigger on our calls. Or you will and get out too soon. Or you will and not get out when we lose. That is trading. That is what I did. That is why I lost.

Sad to say, I am not a good enough trader to take money from Linda Raschke or Lewis Borsellino. But I am good enough to take money away from a panicking newbie. And that is all I need. And that is all our clients need. That tiny little edge.

But don't worry. I will tame Cajun down a bit since a few here are losing sleep worrying and counting how many im he posts.

Another thing, worry warts. The more you complain, the more people are driven to check out our web site. If you don't believe that, ask The Donald and Rosie.

Have a great trading day.

Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com
 
Try this one. It works. It's DIRT CHEAP. And it's a scalping system that doesn't seek huge trades but it'll make you a damn fine living. And it's got an active online room and also an active private Yahoo group.

It's run by a guy named Ryan who's (I believe) a Christian (each Yahoo message answered is signed 'God Bless,' Ryan) and he's clearly not in it for the sales dollars generated by the method.

I use it every day and it WORKS.

I have no financial interest or any sort of gain by posting this stuff. And the boards on Yahoo has all sorts of preset up ELD's for TS or EPS (is that it?) for Esignal plus plenty of other chart vendors (Sierra etc.)

http://www.wattstrading.com
 

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