Nearly Random Entry vs a High Probability Entry

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If it is swing style which occurs on relatively higher scale than scalp paper trading can be enough to prove the practicability since you can easily add fees and above all slippage by overestimating them because liquidity access is not a crucial problem. In "pure" scalp on very low scale the problem will be this liquidity access so even if it is sure possible for market makers for the common guy it is not sure it can be done. In practice it is advisable also to have several streamquotes and multiple brokers because you can really get uggly situation that can even ruin your account for weeks or months or even definetely. Again it is realisation and not concept that counts on very low scale. And this liquidity can change little by little and you can't even perceive it. If you have read Jesse Livermore there is a chapter where he is wondering why his tape reading art that worked so well didn't work any more. A few time passed before he realised the problem. And this happened also to me some years ago : unhappily I didn't read Livermore yet at that time :D. I still like scalping but I don't scalp any more on very low scale and don't adopt any more this noise approach ... (now that I have some knowledge).

Quote from alfonso:




No, the 'fact' doesn't 'remain'. Because nobody here -- not even you, originally -- was asking for undeniable proof that either real money had been made or is being made trading this way. The point of contention is whether it is possible to make money this way. And posting real-time successful paper (or real, but without proof) trades, over time, would prove that it can be done; quite clearly and unambiguously demonstrate it. That is, in your own language, IRREFUTABLE.
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What the heck are you talking about?


I picture lottogirl you know....that blond walking around the boxing ring with the big white card reading "ROUND 2" .

I can hear the announcer calling out the contenders "and in this corner THE INCREDIBLE INSATIABLE OUTSTANDING .....NITROOOOOOOO.

THE CROWD GOES WILD....

LOL oh too funny......


Bring on the lottogirl journal lets see what comes of this methodology...

Michael B.

P.S. As a bonus I can get my lotto numbers on the Elite Trader site.
 
Quote from harrytrader:

If it is swing style which occurs on relatively higher scale than scalp paper trading can be enough to prove the practicability since you can easily add fees and above all slippage by overestimating them because liquidity access is not a crucial problem. In "pure" scalp on very low scale the problem will be this liquidity access so even if it is sure possible for market makers for the common guy it is not sure it can be done. In practice it is advisable also to have several streamquotes and multiple brokers because you can really get uggly situation that can even ruin your account for weeks or months or even definetely. Again it is realisation and not concept that counts on very low scale. And this liquidity can change little by little and you can't even perceive it. If you have read Jesse Livermore there is a chapter where he is wondering why his tape reading art that worked so well didn't work any more. A few time passed before he realised the problem. And this happened also to me some years ago : unhappily I didn't read Livermore yet at that time :D. I still like scalping but I don't scalp any more on very low scale and don't adopt any more this noise approach ... (now that I have some knowledge).

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Harry, I think damir is talking about an intraday style of trading, although not what you'd call 'scalping'. However, since he will be trading highly liquid futures contracts, I don't foresee fills being an issue. If he posts the trades real time, a 'T', for example, signifying the moment he hits the Buy or Sell key, then others watching the quotes could easily confirm whether or not it would have been likely to have been filled at that price in real life. Seriously, I think this would hardly be an issue at all.
 
FWIW, Nitro is correct. Faking trades is easy enough in a chatroom, not very different from paper-trading. Faking them in a journal isn't even worth debating.

On the other hand, I'm not sure how this thread came to be about Damir, though it may be interesting to see how it plays out before it moves to Chit Chat.
 
Quote from dbphoenix:

FWIW, Nitro is correct. Faking trades is easy enough in a chatroom, not very different from paper-trading. Faking them in a journal isn't even worth debating.

On the other hand, I'm not sure how this thread came to be about Damir, though it may be interesting to see how it plays out before it moves to Chit Chat.
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Nitro picks his entry and the direction he needs to go and he will let know if he adds or doesnt or gets out or not.......lets do this for 1 or 2 trades a day and see how its goes...how hard is this??maybe im missing something...please elaborate how Damir would fake us out...

This is better than anything else anyone has ever offered on ET..... why shoot it down....

Bring on the LOTTOGIRL......cmon im rooting for her.......I think she will even take out MR. MARKET.......peace
 
Quote from ElCubano:

This is better than anything else anyone has ever offered on ET..... why shoot it down....
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It's not my intention to shoot anything down. I just don't see the point in all this. Even if Nitro and Damir were to agree on some means of verifying trades, the "contest" would have to go on for more than just a few weeks in order to reach any reasonable level of significance (otherwise, there would be all sorts of excuses for why this person or that person did or didn't do well, making for all sorts of threads and dozens if not hundreds of posts blah blah blah).

And, in the end, so what? The best one can hope for is some indication that Nitro is a better trader than Damir or vice-versa. The results will prove nothing regarding the desirability of random (or nearly random or non-directionally-biased) entries over high probabilility entries.

Of course, if we're far beyond that point, I suggest we close the thread and start a new one entitled Celebrity DeathMatch.
 
Lets take it this way......

You enter at the open of the ES.......you are always in for the whole RTH session. I have no idea what time that represents in France.

So you enter say long to start your day off at exaccccctly 8:30 cst for illustration.......you are entering in your bracket at 1.00 target and a 1.25 stop.

Ok got it?

Now your trade stops out......but you are always in so if your trading 1 contract your stop is with 2 contracts Ok?

So your down 1.25 points and your net short. You get you target on this one. So you are flat but have a net 0.25 loss plus 2 commishes.

Now you re-enter with the same direction you got your target with as you are alway supposed to be in. etc........same targets and stops......etc reversing when losing.......etc.

All of this could be adjusted and this is just one simple minded and maybe losing example. POINT IS MONEY MANAGEMENT AND TRADE MANAGEMENT ON THE EXITS.........

Michael B.
 
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