All you need to know:
Losing my edge
- Thread starter Ernsuksathaporn
- Start date
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It cant;
but if its 95% important/ I would not argue the point= not much anyway/LOL
Since the markets are not random, that's another error right there/LOL
BUT, what you call ''random'' if you used qqq/daily charts, you could find some profits/don't know about cigs......
SQQQ/qqq on a 5 minute chart ??
Almost certain too many errors/cigar smoke. And I seldom trade that sqqq on any time frame...………………………………………………………………………………………………………………………………….HE has deep drawdowns on es;
me too/tqqq somertimes.
i have more success waiting to get hit on the bid opposed to jumping on the ask.
Guys, consider this quote from @Tradex : (@ironchef , you'd probably have more success if you vary your stop action [initial placement, and tightening] similar-to/exactly like Basso did. Of course, this will add more complexity to your code.)
Here's one article about this: https://www.nasdaq.com/articles/rev...nt-your-entry-forex-trading-part-1-2016-11-05
I've found, that when people say they "tested" moving average crossovers, and conclude that "they don't work." They usually didn't test them with out-of-the-box thinking. They didn't test them with a dynamically varying period of the moving averages based upon recent price-action/volatility.
People say Stop-and-Reverse systems don't work. They can if your stop is dynamic and intelligent. And ... out-of-the-box thinking is required.
Likewise, Basso found that risk management can indeed make a profitable system, with some markets.
In sum, risk management can be an edge--in and of itself, but is certainly not the only edge, and;
Basso took a losing strategy--random entries--and made it profitable with just risk management.
Traders spend a lifetime searching for the best possible entry, while the key to success is the exit and the money management part.
I was like you. In my first month I did so good. First week of the second month, I was doing great too. 5th day of my second month my losing streak started. I lost all of my profit in 8 days in continuous losing streak plus I lost $400 from my main fund. I changed my broker to a lower fee broker (From Questrade to IBKR and saved about $450 monthly fees). I reduced my share sizes, and I am back to game again with knowing how this could be serious and stressful with a real example I had. It would be devastating for me if I lost from my main fund at first. Thank god, I lost from my profits so it become easier to come back mentally. Go slower, and make realistic targets for weekly. I was making about $500 a day average in last week of first month and in my first week of the second month but I saw the harsh reality. Now, I reduced my weekly target and its so good to win by learning with smaller amounts. Step by step... Continue learning (I give easily my 10 hours to this everyday for 3 months now (I had also full preparation month with an demo account before starting) and I do love it)Don't try day trading. Start with swing trading. Its best way to go for starters. I got no much experience comparing with most of people here but I am sure they would tell you go for swing trading or long term holding too).Good luck to you.
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I tested the following: Buy SPY at open, sell at close, everyday. After 25 years I was net profitable.
I am going to try: On one random day every week, buy at open, sell at close and see if that is net profitable. If so, I can start a web based educational service, call out trades, have a huge following.
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Thanks;
not really that simple/if it was, he would only told jack schwager only that in Basso helpful interview.
In other words= its like saying,to drive a car consistently/ step on the gas . a grain of truth in anything.....................................................................................IF you like simple stuff + I do to; most of the money made/ billions in stocks/mutual funds .is simply buying every month-that's it......................................................................................................