Quote from Grob109:
This is not true for me at all. TA and FA are requirements for staying in the market at all times. People who spent time have to focus on making money all that time. You cannot recover lost time. It is unilaterally spent all the time. And it is non recoverable. Effectiveness and efficiency are new to you at this point. thses are two terms associated which spending time. The market is disgorging money like a cement mixer unloading during the open hours of the market. You do what you do inconsideration of a few minutes of each day. the minutes you are entering and the minutes you are exiting. In between, you are generally missing the boat and using a substitute for what you could learn to do. You waste time as the cement mixer is unloading money into other peoples accounts. you trade like a guy with a wheelbarrow. I trade like a guy who fills forms with concrete. All the time the concrete truck is unloading, it is done in the forms I have available for the whole load. You are picking up a wheelbarrow load once in a while and putting it in your equity curve. have you noticed that there is concrete all over the ground between your wheeling loads? The market does not turn off when you sideline. It keeps dumping money in the forms that I have build using a "hold" and "reverse" strategy.
Money management is necessary as well but it means nothing without good timing.
I have a big surprise for you. Money management has nothing to do with the use of your time and when you take the actions that you do. I am illustrating to you other sets of words around the market myth you believe makes of for trial and error learning approaches. Money management occurs as a practise that requires but one thing: Don't be in the market when you do not know what is going on. Beginners begin with least money, only trade when they know what is going on. the more you know what is going on, the more time you are allowed to spend making money. I am glad you exit; it is definitely a time when you do not know what is going on. Loo at your equity curve, it is not rising in slope continually ans you spend more time in the market. Two current difficulties with effectiveness for your and with efficiency for you.
to get out of the place where you are and to consider reading what the market tells by indicators and charting and fundamentals, you have to go through a total overhaul. That is not possible and is not going to happen. There was a fork in the road for you way back when and you took the wrong fork.
You talk about "edge trading" as if it was some sort of silly hocus pocus. Try using money management on roulette or casino craps or any other endeavor where you demonstrably don't have an edge, and see how long it takes you to go broke. If you have a successful trading strategy that doesn't boil down to dumb luck, you have an edge. It's not a dirty word.
Were effectiveness and efficiency the measures of what quality trading is, then edges would be absent from the running. People who edge trade missed the boat you as you have.
the objective is to use al he time available to continually extract money from the market. It is not difficult to imagine that it requires help of charts and indicators to determine "when to hold 'em and when to reverse 'em" as Kenny Rodgerswould say. Kenny didn't say "when to enter and when the exit". The way money is made, big time, in the markets is to be in the market all the time and to not "spend" time on the sidelines. what you now think of as an exit, could be, but it isn't, a place to continue to make a different kind of money. Getting far away from considerations of losing is what I have put on the table for you. For your life, it is out of reach for you by your choices, and, therefore, my views are repungant to you.
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Quote from Grob109:
Indicators invariably provide information about the market's preformance and activity. They are primarily useful for telling the viewer whether or not he is making money, how fast he is making money and when he has come to the point of not making money. Run a tab on how many minutes of the day these conditions prevail. You will find, that expressed as a percentage, it is almost all of the time.
Compare that to the entry and exit percentages which border on being nill in comparison.
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My equity curve tells me whether or not I'm making money, how fast, etc. I somehow don't confuse my equity curve with any of my indicators and still do just fine. Fine is a relative measure. Nice wrap you start with confusing and end the same: first me and then not you. [/B]
