Mentoring offer

[RedDuke]

janpec1000,

Do not be too surprised. I have been on this board for over 10 years, and have seen numerous offers like these, from brand new handles, that lead to money fleecing.

Good luck.

 

[janpec1000]

Oh no, dont get me wrong, altough i havent been in space 10 years, but 5 years was more enough to get grasp over general expectations, and also statistically it makes sense why people threat it with guessing towards negative side, its just the community from site to site that differs, i guess feels quite harsh here to some others that i participated in. Its just from the other side of view it should be common to get at least someone interested in, unless everyone here is satisfied trader with consistent strategy.

 

[ironchef]

What is your rationale for the offer?

 

[janpec1000]

The rationale being quid pro quo situation, where the student learns profitable strategy while collaborating on the pattern sharing software along other traders of same strategy, which allows to extract maximum potential from markets each day.
Avarage extraction on my behalf is usually around 15 setups per day, with 5-8 executions, but the markets itself on equitiy, fx and crypto side provide 5-10 times as much of setups, but the thing is that it isnt practical for single human to extract that much, however collaboration of traders can handle that easily (each trading for themselves of course), trough the software sharing the patterns. The software will be designed to handle pattern sharing only, the execution is still completly upon trader to do.
I would have designed algo or EA to search for patterns if i could, but the problem is that there is no general way to get high/low and structural search with decent quallity, as robots on itself provides way too much noise signals, so human way is really the only way to go.
So far 2 students along me will be backbone, but i am looking for 2-3 additional persons for better consistency if some are not trading every day.

 

[MrScalper]

The rationale being quid pro quo situation, where the student learns profitable strategy while collaborating on the pattern sharing software along other traders of same strategy, which allows to extract maximum potential from markets each day.
Avarage extraction on my behalf is usually around 15 setups per day, with 5-8 executions, but the markets itself on equitiy, fx and crypto side provide 5-10 times as much of setups, but the thing is that it isnt practical for single human to extract that much, however collaboration of traders can handle that easily (each trading for themselves of course), trough the software sharing the patterns. The software will be designed to handle pattern sharing only, the execution is still completly upon trader to do.
I would have designed algo or EA to search for patterns if i could, but the problem is that there is no general way to get high/low and structural search with decent quallity, as robots on itself provides way too much noise signals, so human way is really the only way to go.
So far 2 students along me will be backbone, but i am looking for 2-3 additional persons for better consistency if some are not trading every day.

I like a challenge..so..I am willing to look at your software and help you improve it..but..I will only do it when I have time available and when it suits me.

If you really want to get somewhere..then you need to deal with people with experience..not the opposite!

You are correct in relation to automating signals..very hard..especially when the signals are complicated.

Standard patterns such as flags..pennants..ascending/descending wedges..etc,etc,etc..are NOT the way to go..if they were everyone who tries would be a millionaire..it just will not happen..no matter how much you try.

What you really need is a very simple approach that has consistency across all markets..and all time frames..and..not only is this possible..but it is also very hard..and the reason it is so hard..is because it is so simple!!

Your software must take account of the emotional side of trading..as that is what kills most who get beyond the basics..you are going to find it very hard to get anywhere with newbies..mostly due to lack of experience with winning and losing..and..they will destroy themselves with emotional trading..no matter what patterns you give them to trade!

 

[Gotcha]

Standard patterns such as flags..pennants..ascending/descending wedges..etc,etc,etc..are NOT the way to go..if they were everyone who tries would be a millionaire..it just will not happen..no matter how much you try.

At the risk of starting a war, why do you say this? Perhaps people fail with this not because it doesn't work, but because they don't have a good use of stop and target and apply it consistently time and time again.

HFT firms, from what I read, barely break a 55% win rate, but with their next to nonexistent commissions, and ability to place trade after trade without getting tired or suffering from emotion, do quite well in the long run. Surely the patterns you mention aren't any worse than 55% win rate because if they were, you could always just do the opposite.

 

[janpec1000]

I like a challenge..so..I am willing to look at your software and help you improve it..but..I will only do it when I have time available and when it suits me.

If you really want to get somewhere..then you need to deal with people with experience..not the opposite!

You are correct in relation to automating signals..very hard..especially when the signals are complicated.

Standard patterns such as flags..pennants..ascending/descending wedges..etc,etc,etc..are NOT the way to go..if they were everyone who tries would be a millionaire..it just will not happen..no matter how much you try.

What you really need is a very simple approach that has consistency across all markets..and all time frames..and..not only is this possible..but it is also very hard..and the reason it is so hard..is because it is so simple!!

Your software must take account of the emotional side of trading..as that is what kills most who get beyond the basics..you are going to find it very hard to get anywhere with newbies..mostly due to lack of experience with winning and losing..and..they will destroy themselves with emotional trading..no matter what patterns you give them to trade!

Thanks for the input, just to be clear i am not looking for any suggestions from students, the strategy is finished, is consistent and the software layout is very simplistic as there is no need to complicate things.
As for strategy itself it is structure based approach trading which in fact does include flagging structures. From my experiance where traders of structural technical charts fail is in expectations. Price structures are in general poorly performant in bounce/break chance and completition, while most will threat it the other way in terms of how stops/RR/scale out ratios will be shaped.
Traded strategy has 40% of winning ratio on avarage, where its totaly common to expect 3 breakouts to fail out of 4 taken, what makes the strategy profitable are the variables that majority will completly overlook or not give much attention.
Trading whatever the indicators or price is never about idea, its the poor and non consistent execution (and no proper backtesting) that blocks the traders, not the idea pattern itself.

Also as said not looking for sufficient traders who would like to compliment their trading with 1 or 2 extra trades per month, but rather dedicated students willing to grasp the strategy with both hands.

 

[MrScalper]

At the risk of starting a war, why do you say this? Perhaps people fail with this not because it doesn't work, but because they don't have a good use of stop and target and apply it consistently time and time again.

HFT firms, from what I read, barely break a 55% win rate, but with their next to nonexistent commissions, and ability to place trade after trade without getting tired or suffering from emotion, do quite well in the long run. Surely the patterns you mention aren't any worse than 55% win rate because if they were, you could always just do the opposite.

It is very simple..the HFT approach you speak of is more or less the same approach carried out by all HFT firms..they operate from a limited knowledge base..then throw in what they call a "proprietary edge"..which is no more than a mathematical equation that decides when to pull the trigger..and scale up or down.

This in no way means that there are not easier and better ways to execute trades to improve the win/loss ratio!

If a trader can not improve his/her win/loss ratio over time..then the trader is not learning..and the results will not change.

What one needs to do is take a big step back..clear the head of all the hype and rubbish that is used to get the ill informed to part with their money.. remember..this is a big game..the real winners are the brokers..bankers.. software vendors.. mentors..etc..etc..and the big loser is always the plebs at the bottom of the ladder..who..due to lack of relevant knowledge and experience..is sucked into the big world of "easy money".

So..patterns really mean nothing when it comes to making money in the financial markets..and..in reality..this suggested approach is just one more addition to the ever ending ways of wealth transfer from the well informed..to the ill informed.

Hope you understand now

 

[MrScalper]

Thanks for the input, just to be clear i am not looking for any suggestions from students, the strategy is finished, is consistent and the software layout is very simplistic as there is no need to complicate things.
As for strategy itself it is structure based approach trading which in fact does include flagging structures. From my experiance where traders of structural technical charts fail is in expectations. Price structures are in general poorly performant in bounce/break chance and completition, while most will threat it the other way in terms of how stops/RR/scale out ratios will be shaped.
Traded strategy has 40% of winning ratio on avarage, where its totaly common to expect 3 breakouts to fail out of 4 taken, what makes the strategy profitable are the variables that majority will completly overlook or not give much attention.
Trading whatever the indicators or price is never about idea, its the poor and non consistent execution (and no proper backtesting) that blocks the traders, not the idea pattern itself.

Also as said not looking for sufficient traders who would like to compliment their trading with 1 or 2 extra trades per month, but rather dedicated students willing to grasp the strategy with both hands.

What if I told you..that..you do not need many traders to beat the odds..in fact.. you only need 1 trader..and..you do not need 2 hours..or 10 markets.. just 30 minutes and 1 market!

Of course..in such a scenario..it should be obvious what is the most important aspect!

 

[janpec1000]

What if I told you..that..you do not need many traders to beat the odds..in fact.. you only need 1 trader..and..you do not need 2 hours..or 10 markets.. just 30 minutes and 1 market!

Of course..in such a scenario..it should be obvious what is the most important aspect!

Then i would tell you that is all relative and no thing in trading can be generalized, meaning that what you are suggesting is by your method and execution and most of all the appetite for daily R. And then almost every other strategy will be different in that sense.

I dont want to turn this into general trading discussion, becouse everything targeted (community, software, learning) is strictly strategy specific that i trade.