Here is a 4m chart of todays trades...
My SPM + SCT child
- Thread starter frostengine
- Start date
Here is a 4m chart of todays trades...
brownsfan,
Several years ago when I first started trading, I did go at it live for a while. The problem I ran into was I had no way of knowing for sure if the patterns I was trying to trade really had an edge.... too many variables.. everything from emotions to violating rules.. etc.. would have winning streaks, losing streaks.. but in the end I had no idea if what I was doing had an edge. Which lead me to the conclusion, why trade something without thoroughly backtesting it? Its easy to have huge winning streaks just by pure random chance....I want to see years of results through all sorts of market conditions to know if the edge is simply random chance....hence backtesting...So naturally if I can backtest a given strategy, why trade it at all.. just automate it... hence where I am today.
I may be trying to automate instead of trading discretionary... but I do get a LOT of screen time everyday due to a job that has no problem with me watching the market while working...My strategies are not just random strategies created by "throwing indicators at a wall"..... A lot of them have basis in what I see from this screentime and market replays after hours...
For instance i'm looking to set up a new strategy now. So i'm currently looking through lots of charts of range bars since I am unfamiliar with how the market normally moves using range bars..
Several years ago when I first started trading, I did go at it live for a while. The problem I ran into was I had no way of knowing for sure if the patterns I was trying to trade really had an edge.... too many variables.. everything from emotions to violating rules.. etc.. would have winning streaks, losing streaks.. but in the end I had no idea if what I was doing had an edge. Which lead me to the conclusion, why trade something without thoroughly backtesting it? Its easy to have huge winning streaks just by pure random chance....I want to see years of results through all sorts of market conditions to know if the edge is simply random chance....hence backtesting...So naturally if I can backtest a given strategy, why trade it at all.. just automate it... hence where I am today.
I may be trying to automate instead of trading discretionary... but I do get a LOT of screen time everyday due to a job that has no problem with me watching the market while working...My strategies are not just random strategies created by "throwing indicators at a wall"..... A lot of them have basis in what I see from this screentime and market replays after hours...
For instance i'm looking to set up a new strategy now. So i'm currently looking through lots of charts of range bars since I am unfamiliar with how the market normally moves using range bars..
Could you put up a chart with 4 things on it and not show price?
What 4 things?
we had this zen type b.s. debate many years ago on et.
read darkhorses contribution.
Its not about setting ceilings. your internals can not be bullshited with positive mental attitudes at crunch time. You need to experience trading success before your attitude could possible matter.
to summarize and embellish on darkhorse's analogy - you just completed a 4 day hike to the top of a mountain and a storm is coming through. Your only way down is to repel.
You have a choice - the two guides with positive mental attitudes who just got dropped off by a helicopter... or the two sherpas who just lost a friend to the mountain but have made the descent a thousand times.
thanks for your reply, I appreciate it.
