List of Trading Rules!
- Thread starter EMini-Player
- Start date
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I would guess (poorly, probably) that you have capital and you place it as you describe. If the capital sits through this thing you recommend, then it is not efficient in it's application.
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Not entirely correct. The point is that capital does not sit through a thing, particularly not a large drawdown. In order to do that, I want to enter the peak of a retracement or discount, which in fact maximizes both profit cycle and time-in-trade.
I wasn't completely clear.
As any day goes by, your have capital at stake.
If you sideline (period A) on the retrace (not have capital being drawn down). Then if you go in on the discounted condition and make money from that point on (period B). This gives you a money velocity quotient where profits of B are divided by sum of time A plus B. The opportunity cost you pay in A is worth considering and further recovering.
You and girlpower do know and explain how to do this. You trade the retrace from retail into the discount status and reverse at time A go to B.
The truism that always applies is: if you can regognize something; then you can solve it. The only things you cannot solve are those you can't recognize.
As a brief OT, look at the red sock scenario.
It must be a cheap and not color fast sock. Who buys those? If a person does, how does he handle maintaining their utility. He must deal with the consequence of buying such by doing what is required and additionally also being sure to not further jepordize other dear things. All dear things must be protected.
This guy has a dilemma on his hands. mecro is different, he is immobilized and cannot operate at all as you point out. The red sock person is in a place where he knows there is something that has to be dealt with and it also is affecting other dear things he has to process. He bought into the red sock he sees. It is his sock or maybe people put socks in his water. not likely.
What a lousy challenge to have to postpone dealng with. There are a lot of people here who are postponing things. You can see it all over the place here.
What is it like to discover, through personal assessment, that everything is not quite shipshape. mecro is not in that situation. He is in a state of bliss as the saying goes. No challenge for him to ruminate about.
If you take the ET genre as epitomised by quantity and power, everything is SOP and no one is hanging lights in a bell tower. But on the otherhand occasionally someone gets spooked. Being spooked over and over for a while can get sort of disconcerting. Entrenching is normal. Repeatedly entrenching is energy consuming. It is important to observe this. As consciousness raising gets to a point where the status quo notices it, then others will profit more and more by being able to give consideration to the pertibations.
Orchards are maintained by just blowing the stumps out. Getting rid of trees in the landscape depends upon how big they are. The stately older ones are taken out by the roots. You have to go all around the tree to cut the roots that have failed to give sustenance to the trees. Chestnuts in the mid Atlantic states went that route. In New England, the Dutch elm went away. Today the gypsy moth makes inroads on many varieties of oaks in waves over the years.
I wonder what is bugging some of the people here so much? Wake up calls it looks like.
Have a good one.
I would guess (poorly, probably) that you have capital and you place it as you describe. If the capital sits through this thing you recommend, then it is not efficient in it's application.
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Not entirely correct. The point is that capital does not sit through a thing, particularly not a large drawdown. In order to do that, I want to enter the peak of a retracement or discount, which in fact maximizes both profit cycle and time-in-trade.
I wasn't completely clear.
As any day goes by, your have capital at stake.
If you sideline (period A) on the retrace (not have capital being drawn down). Then if you go in on the discounted condition and make money from that point on (period B). This gives you a money velocity quotient where profits of B are divided by sum of time A plus B. The opportunity cost you pay in A is worth considering and further recovering.
You and girlpower do know and explain how to do this. You trade the retrace from retail into the discount status and reverse at time A go to B.
The truism that always applies is: if you can regognize something; then you can solve it. The only things you cannot solve are those you can't recognize.
As a brief OT, look at the red sock scenario.
It must be a cheap and not color fast sock. Who buys those? If a person does, how does he handle maintaining their utility. He must deal with the consequence of buying such by doing what is required and additionally also being sure to not further jepordize other dear things. All dear things must be protected.
This guy has a dilemma on his hands. mecro is different, he is immobilized and cannot operate at all as you point out. The red sock person is in a place where he knows there is something that has to be dealt with and it also is affecting other dear things he has to process. He bought into the red sock he sees. It is his sock or maybe people put socks in his water. not likely.
What a lousy challenge to have to postpone dealng with. There are a lot of people here who are postponing things. You can see it all over the place here.
What is it like to discover, through personal assessment, that everything is not quite shipshape. mecro is not in that situation. He is in a state of bliss as the saying goes. No challenge for him to ruminate about.
If you take the ET genre as epitomised by quantity and power, everything is SOP and no one is hanging lights in a bell tower. But on the otherhand occasionally someone gets spooked. Being spooked over and over for a while can get sort of disconcerting. Entrenching is normal. Repeatedly entrenching is energy consuming. It is important to observe this. As consciousness raising gets to a point where the status quo notices it, then others will profit more and more by being able to give consideration to the pertibations.
Orchards are maintained by just blowing the stumps out. Getting rid of trees in the landscape depends upon how big they are. The stately older ones are taken out by the roots. You have to go all around the tree to cut the roots that have failed to give sustenance to the trees. Chestnuts in the mid Atlantic states went that route. In New England, the Dutch elm went away. Today the gypsy moth makes inroads on many varieties of oaks in waves over the years.
I wonder what is bugging some of the people here so much? Wake up calls it looks like.
Have a good one.
Ok point taken.
To be honest I did not think I needed to explain my comment about Jack Hershey since all of the criticism has already been said by about 80% of Elite. I have read ALL of his threads and IMO, there is very little to add to Jack Hershey's credibility, if any, let alone his mysterious method.
I've taken good note of your earlier posts in this thread and have applied it to my trading. I've been turning some scalping trades into swing positions and I've been getting good results. It takes time and practice but it makes a lot of sense.
Who says the methods are "mysterious" - You?
There are people who don't. It tells me something about you (the methods are "mysterious" to you), but nothing about him, do you realize that? I hope you do.
Thanks for being cynical. You're accusing me of saying I turn scalps into swing-positions?
Unfortunately, that is inaccurate and I have never said anything like that.
And fractal-based trading has nothing to do with that, it's about having separate trades in multiple different timeframes at a time, not about having one trade in separate timeframes ! You've mixed things up.
Get a grip on the reality of it. Don't turn things around. I appreciate your consideration, Mecro.
Scientist.
Taken from http://www.regaltg.com
These are the rules I use:
1. Never catch falling knives
2. Trend is your friend
3. If you can't take a small loss, sooner or later you will take the Mother of all losses!
4. Do not trader for a number
5. "Ahh F*ck it." sentiment before the trade - "Max Loss Reached," result before the day's end.
6. Losses. not Wins are a key to profitable trading
7. The Market can remain irrational longer than you can remain solvent!
Whenever I have a loss that hurts - one of these rules was violated.
Good luck guys!
These are the rules I use:
1. Never catch falling knives
2. Trend is your friend
3. If you can't take a small loss, sooner or later you will take the Mother of all losses!
4. Do not trader for a number
5. "Ahh F*ck it." sentiment before the trade - "Max Loss Reached," result before the day's end.
6. Losses. not Wins are a key to profitable trading
7. The Market can remain irrational longer than you can remain solvent!
Whenever I have a loss that hurts - one of these rules was violated.
Good luck guys!
Ok I'm sorry I even tried to compliment what you have posted cause I did not know you were gonna take offense to it.
I said that I (meaning me, myself and I) not you or anybody else has been turning scalping trades into swing trades. To be a little more clear, I'm not being shaken out and staying as part of the minority in the right direction. I've been reading the tape for the shake outs because of what you said.
If you want more discussion just PM me
As for Jack Hershey, I do not even care to discuss the matter. The search function provides more than enough of a discussion about him and his methods. While his methods still are not deciphered, I find that his credibility certainly was unfolded in one of those threads.
OK Mecro, I'm sorry I misinterpreted you - On the internet, intent isn't always clear due to lack of intonation and body language.
For clarity: I took your comment as an offense, since you said:
Now come on let's face it - If you didn't know who wrote this and what he had in mind, would you be able to interpret this as blunt cynicism or am I just paranoid?
Basically, the reason is that I didn't advice anybody to turn scalps into swings - And I still never would! I strongly recommend against doing so! Picking a good entry for a swing is one thing, but having a scalp in mind as well is an other! But if it works for you - fine.
That's all. I'm glad this is clarified. Peace.
Scientist.
don't trade after 10:45 am or so unless there's a significant increase in volume in the stock I'm trading, and/or it's in the process of taking out a 2-day high/low with the COMPQ doing the same (which is rare)...
and of course, no continuation trend trades if it's near the edge of it's daily trading range... eg if NVLS has been up 2 pts, I'm unlikely to go for a new long
and no trading while the nasdaq trin is close to 1.0, eg .8 to 1.2 is chop area..
use 50% fibonacci retrace lines to identify likely exit points for any bounce/fades
keep .2 max stops
trade several simultaneous positions on strong sector breakouts, eg if SOX is the top moving sector at +1.2% green at 10:10 am, I'll look to buy several strong moving semis near the same time, for instance MXIM LLTC NVLS within a few minutes' entry of each other, let the sector make it's move, then start working out of positions as trailing stops are taken out, or theres a stall in time and sales..
and of course, no continuation trend trades if it's near the edge of it's daily trading range... eg if NVLS has been up 2 pts, I'm unlikely to go for a new long
and no trading while the nasdaq trin is close to 1.0, eg .8 to 1.2 is chop area..
use 50% fibonacci retrace lines to identify likely exit points for any bounce/fades
keep .2 max stops
trade several simultaneous positions on strong sector breakouts, eg if SOX is the top moving sector at +1.2% green at 10:10 am, I'll look to buy several strong moving semis near the same time, for instance MXIM LLTC NVLS within a few minutes' entry of each other, let the sector make it's move, then start working out of positions as trailing stops are taken out, or theres a stall in time and sales..