Forget realitytrader. I have bought their newly
released book:
"Technique of Tape reading" good if you are beginner,
otherwise very outdated.
Looking for a mentor.
- Thread starter MrJohnGalt
- Start date
Forget realitytrader. I have bought their newly
released book:
"Technique of Tape reading" good if you are beginner,
otherwise very outdated.
I think the main problem this guy has is that he don't
stick to somthing for a while and sacrify some time on it
He said in another thread, that Tradestation plateform
is worthless because he lost money while trading with it.
He said Woodies free chatroom wasn't good, but i think
he didn't master the woodies method or taking the trade
when all entry criteria wasn't met. Woodie chatroom
wouldn't be attracting 600 somthing participant without
any succuss.
He has to learn to be more patient before giving up on
somthing too quicky and jumping around trying anything
new, before mastering previous method or giving it up.
What methodology should I try to master? Should I continue developing systems? Should I go back to Woodie's CCI chat? Should I start Gann Analysis?
I feel Tradestation is worthless is because of the inconsistence with the tests possible. As a programmer, the testing engine has too much flaws. The performance report also too much flaws, too. Eventually, I had to export the trading results into excel and get a detailed results from there. Also, the execution platform had problems with the fill confirmation. I had a portfolio of electronic market trading system and had problems with the delay.
As for Woodie's chatroom, I understand there is a lot of controversy in ET. Some feel that his methodology doesn't work, some feel that it does. I did do some research and all of the setups and combinations do not have a statistical significance to it. This goes with most of the other vendors that I dealt with, including the people at tradingmarkets.com.
As I have mentioned in previous post, traders using these statistically invalid methodology uses the discretion as filter to trade the indicators. From what I have read, it seems like people use them as a confirmation for their discretion rather than as a leading indicator. If this is true, any indicator would be viable to confirm a feel, because of the structure of technical analysis, Open, High, Low, Close and Volume, and it's corresponding Time criteria.
This is the reason I would like build my discretionary skill. Asking for mentoring from a successful trader. I do feel that my psychological setup is causing a noise for sensing my discretionary development. From logical analysis of myself, my problem is on the table.
But there has never been a breakthrough in solving it. In terms of programming, the problem as been identified and isolated but there seems to be no way of debugging. It is a constant repetition of identification and isolation. As one of the posters in ET mentions, it's easy to identify and tell them they have a problem, but there is no constructive progress. Maybe pschology is BS, but I know for a fact that it is a problem.
I am utterly confused with moving forward. The more I think and analyze, I lose direction towards where to take myself from here.
I have a reasonable income from my programming gig. I think I can pay up to the mid 4 digits / month, for a serious mentorship. Or a incentive of the profits made, if the mentor can get me to become profitable as much as 4% return a month, I think that will be a better deal with 50/50 split.
My expectations would be first to be able to be profitable, by the end of the year.
Quote from LongShot:
Ok,
i am feeling real generous about right now..
have ya ever heard of woodie??
woodie's e-mini club??
thats the place for you!
seek him out. 'ol woodie...
thats what ya need!
and IT IS FREE!
I've been to his chatroom... Have you read my posts?
I couldn't find anything legit, that I felt significant in there.
LongShot, with all due respect, after your comment in this thread, I went ahead and checked your previous posts. I know that you are in ET to mess around. I don't understand your intentions but please understand that I am serious about looking for a mentor around the Chicago area.
There has been valuable suggestions like talking to people in a proprietary firm for help. And everyone has been very helpful in and out of the thread. You maybe a profitable trader but I am sure you have gone through the learning curve as I am in right now.
