So traders who make a living trading nothing but flags, pennants, triangles, rectangles, head and shoulders, double tops, double bottoms, diamonds, wedges, support and resistance lines, trendlines and dozens of other subjective chart patterns do not exist, right?
New book on how traders are beating the HFT guys
- Thread starter brad10
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So traders who make a living trading nothing but flags, pennants, triangles, rectangles, head and shoulders, double tops, double bottoms, diamonds, wedges, support and resistance lines, trendlines and dozens of other subjective chart patterns do not exist, right?
I don't personally know of any.
You need to expand your circle of friends then
Jokes aside and I already mentioned this in another thread, there is a new book called "Trading the measured move : a path to trading success in a world of algos and high-frequency trading" by David M. Halsey.
I am expecting delivery this week from Amazon.
You need to expand your circle of friends then
Jokes aside and I already mentioned this in another thread, there is a new book called "Trading the measured move : a path to trading success in a world of algos and high-frequency trading" by David M. Halsey.
I am expecting delivery this week from Amazon.
I am sure we can exclude your multi-nick from that long list. Which chapter is yours?
From the Amazon page for the above mentioned book:
"Now traders at all levels of expertise can learn how tap into Halsey's unique approach to investment success by drawing on Fibonacci retracements (Fibs) within a series of measured moves across multiple time frames."
Ha...I'll pass.
What on earth is a "multi-nick" and what long list are you talking about?
Chapter?? What chapter ?
Wow, that is some pretty heady stuff.
Spend too much time with that Fib/Golden Ratio stuff and you'll end up like Max in "Pi."
Actually, those of us who are still trading that came up before home computers have used Price Patterns as it was rather hard to do much more than EMA's. Peter Brandt of Minnesota is the only true Price Pattern trader I have known had done well and stuck with this the whole time. I think he written a couple books and had/has service for many years, I have two books he has written I have gained more knowledge plus he still has a service called the Factor which I subscribed for several years, it about the only one I have known to make money overall, but it is grow rich slowly type.
http://peterlbrandt.com/factor-trading-plan/
Making a living or making a life from trading comes down to backtesting. If you don't learn how to program first before losing tons of dough, it is like forever before you learn how to make money. If you want to compete with the big boys, you have to learn to code and backtest, if you can't learn to do it, go to a college and hire kids to test for you. Better to spend a few thousand then to lose thousands.
I had an idea two years ago to compete with HFT, built backtesting code for this idea, forward tested it, and papertraded it six months. Been trading it over a year, and it is as close to Holy Grail system I could ever come up. I run it over fourteen markets 24 hours a day when markets are open. Entries and targets only on limit orders.
In 36 years I been trading, the Pro's always shows their hands.
I plan on buying new book, seldom anything new written.
I just noticed Eric Scott Hunsader is also one of the people interviewed in Traders Of The New Era.
He has been one of the people most against HFT. I am interested in reading his chapter.
http://www.washingtonpost.com/blogs...ock-market-became-rigged/?tid=pm_business_pop
He has been one of the people most against HFT. I am interested in reading his chapter.
http://www.washingtonpost.com/blogs...ock-market-became-rigged/?tid=pm_business_pop