Is anyone consistently profitable with the ES?
- Thread starter John1000
- Start date
"Any sufficiently advanced technology is indistinguishable from magic." - Clarke's Third Law
Why do I spend so much time on this site? The main reason is because several experienced traders tried to help me out when I was making one dumb mistake after another, and I enjoy doing the same (knowing full well that nothing can be taught; only seeds can be planted).
But I don't want to discount the joy I get when I read posts like yours above. Only John Oliver and Lewis Black get me laughing this hard.
Ahh-ha! So you answer one of my questions, but you are unable to answer THE question.
So, seeing as you're unable to provide a simple answer the simple question posed (no numbers need be crunched, evidence produced etc), why dont you ask your 'mentors'? Because this story is perhaps more Doji bullshit?
Remember that everybody is looking at you here - all your followers.
Im sure they too are starting to wonder why you cant provide a simple answer and explain simply the theory of your 1 and 5 min time frames.
Is it because you dont know?
Is it because there is no quantifiable relationship?
Is it because you blindly followed your imaginary mentors and expect others to blindly follow you?
Is it because you just spout clap-trap with out thinking?
Is it because your 'king chartist/guru' dbsparrow has no freakin idea either and he cant help you out?
$1000 says you still wont (cant) answer.....
How is spouting clap-trap that you are unable to explain or justify helping anyone?
Who would go in to business with out being able to explain to yourself or others how you will make money?
Im not asking for proof through back testing or any such effort that this 1min-5min stuff works. That would be unreasonable for a casual conversation (and your clearly limited knowledge of financial markets).
All I ask for is a simple sentence or two. Please explain why a 1min chart has any bearing on the future price direction of a 5min chart or vice versa. If this is not what you consider, then please explain clearly what is, and why the 1 and 5 min time frames have any bearing on each other.
I say you are unable to do so. So I ask why you state this in the first place. Prove me wrong.....
Who would go in to business with out being able to explain to yourself or others how you will make money?
Im not asking for proof through back testing or any such effort that this 1min-5min stuff works. That would be unreasonable for a casual conversation (and your clearly limited knowledge of financial markets).
All I ask for is a simple sentence or two. Please explain why a 1min chart has any bearing on the future price direction of a 5min chart or vice versa. If this is not what you consider, then please explain clearly what is, and why the 1 and 5 min time frames have any bearing on each other.
I say you are unable to do so. So I ask why you state this in the first place. Prove me wrong.....
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Not a prediction, but 4 points sounds like part of a trend .I think the exchanges do pretty good with sloppy trenders. Planty of liquidity + traders; but I like to factor in personality/wisdom + records of profits.So if Paul Tudor Jones does well with S& P derivatives, I still have to factor in my records + personality.Rich Dennis article made a big impression on PTJ, so live + learn.
PS,John, even if ones does well for 10 years; that does not mean I would risk[again] buying my own title insurance on real estate.
I am in business because I'm able to explain to myself how I will make money. The research and development phase leads to the profit realization phase. Whether or not anyone else understands my methods is irrelevant.
The 5-min chart provides me with signals to trade. The 1-min chart provides me with trade entry prices that allow for a specific R:R. That's the only relationship I need. I don't have to know why price does something more often than not following certain signals to make money. I don't have to know whether economic news is bullish or bearish. I don't have know if price is too high to buy or too low to sell.
The only thing that has any bearing on the future price direction of any instrument at any particular moment in time is an imbalance between immediate supply and immediate demand. This can change at any moment. I don't have to know when it will change. I researched a particular framework for profiting from price moves based on repetitive price behaviors.
The only thing I have to know is that my personal methodologies either produce a profitable trade more often than a losing trade with equal R:R or they produce a profitable trade about as often as a losing trade with positive reward to risk.
If you're making plenty of money without understanding these core trading concepts, why are you so curious about my personal trading methods?
How do you expect to give back to the community, which you've said is your motivation for posting so much on ET, when you are not willing to explain anything about trading beyond 20/20 hindsight chart markups? Or given that you may not what to divulge your trading secrets which is understandable, why no blotter posts to show trading success is possible? Quite a few successful traders have done this. You? No. The only blotters of yours I've seen show massive losses. That's magically turned around with no evidence. Why do you dodge questions? Why do you obfuscate?
The simple answer is you are a failure.
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. Nobody on ET has yet applied the process and demonstrated that it produces net losses over each series of N consecutive trades.
The only two profitable traders on ET, attivex and sellindex, have demonstrated fully that trading success is possible, so I don't believe any additional proof is necessary.
Well the burden of proof is on you to prove it does produce profits, especially if you feel the need to lecture others on how to trade. I can't say 1+1=3 prove me wrong. No, it is 1+1=3 here's why.... Then if you see I'm wrong you prove the contradiction implicit in the proof. You claim to have a hugely profitable, 70%+ win rate system with few losing days and you have absolutely nothing to prove it. Hmmmmm....
That's like saying Warren Buffett is a successful investor so my moving average crossover system will make you millions. YOU are claiming profitability. YOU present yourself as a successful trader. YOU lecture others on how to trade.
But YOU provide NO proof, despite how trivial it is to do so.
Just be truthful. Trading is difficult and there's no shame in admitting it.
If I may jump in. When you look through NoDoji's posting history, you will see how she started with beginner's luck, then it ran out, and she was forced to teach herself. Her journal from a few years back chronicles this process. The proof is in the process believe it or not, not the result.
Second, even if she showed you a statement with her earnings for this week, it wouldn't help you one bit. I got this from DbPhoenix, and its absolutely true. If you want to learn how to trade, follow what she is teaching, simple as that. If you want to be her accountant, then ask for her daily profits.
The setups that she has been showing are absolute gold. This is better proof to me because she is showing how she does it, not just the result of the actions.
Don't get me wrong, I know that most traders out there want to make sure they aren't following some idiot and going down some path that leads nowhere 6 months later, so they assume that showing daily gains of $10,000 will lead you to believe that you are on the right track. I spent quite a bit of time first learning my way around here since I joined last August and let me tell you, the less that traders talk about money and how much they make the better they seem to be at this.
If you see that the illustrated step-by-step day trading method I've shared here this year is wrong, prove it.
Yes, trading is incredibly difficult. I wrote a thread here titled Why Profitable Trading Is So Difficult.
Finding potentially profitable trading ideas is the easy part. Turning those ideas into a method and mastering the mindset necessary to execute well is counter-intuitive to nearly everything we're programmed to think and do.
BTW, I checked the Terms of this site and there's no rule stating that members have to prove a method produces profits prior to "lecturing" about trading methods.