Nothing Beats Price Action, Everything Else is Derivative

[fearless9]

Trading styles... who cares, so long as they make money.

Well I think a very few people do care.

They care that the style actually works under combat conditions, not just reflectively on a chart or on a sim.
They care that the style maximizes dollar income, not just points won less those handed back.
They care that the style is efficient from the point of view of dollar risk and account efficiency not just "I am up a few bucks today".
They care about the screen time devoted to the consistent size of net return.

And most of all, they care that they can continue to tune their style into a market that is forever changing.

regards
f9

 

[Joab]

Quote from MandelbrotSet:

Yes, you are correct, arguing about trading styles doesn't make any sense.

But here we're a making a distinction and talking about using a specific type of trading style to increase our profitability, and succeed as traders.

If you want to post serious content along those lines, that would be perfectly fine ... but if you want to continue to call-out and question a poster who has submitted content and has the PnL to prove it, I would sincerely like you to not post [here] anymore.
***
You're like the guy who shows up just to say something doesn't work and then continue saying it after posters show that it does, by word as well as deed.

I'm being nice but those of you that are wise enough to read between the lines of my post will see that I disagree with Stealth Traders attitudes about only taking little bites out of the market.

ALL and I do mean ALL the great traders in the present and the past took the lions share of their trades and no one ever got rich taking little bites for any length of time but like I said, too each their own and if you all want to follow this guy like silly puppies, all the power to you.

I am happy to have your liquidity

 

[fearless9]

Quote from Joab:

"ALL and I do mean ALL the great traders in the present and the past took ......"

Joab, how you have you managed to meet ALL the great Traders, past and present.
I am not so concerned with the dead ones, but I would be grateful for an introduction to the current ones.

"I am happy to have your liquidity "

Joab, can you please expand on the above statement.


regards
f9

 

[Buy1Sell2]

The following post appeared on page 10 of this thread and was the definitive post of the thread. There were then 26 extra pages of postings (depending on format of course):




"05-14-08 07:16 AM

The entire picture is price WITH indicators. Indicators are very valuable tools and should be employed along with price. Volume is an indicator that can be discarded. It falls into the categories of too subjective and too much information. Thank you for your time. "

 

[HolyGrail]

Quote from Buy1Sell2:

The following post appeared on page 10 of this thread and was the definitive post of the thread. There were then 26 extra pages of postings:




"05-14-08 07:16 AM

The entire picture is price WITH indicators. Indicators are very valuable tools and should be employed along with price. Volume is an indicator that can be discarded. It falls into the categories of too subjective and too much information. Thank you for your time. "

Maybe in your mind, but not in mine.

 

[Joab]

Quote from fearless9:

Quote from Joab:

"ALL and I do mean ALL the great traders in the present and the past took ......"

Joab, how you have you managed to meet ALL the great Traders, past and present.
I am not so concerned with the dead ones, but I would be grateful for an introduction to the current ones.

"I am happy to have your liquidity "

Joab, can you please expand on the above statement.


regards
f9

Well first let me say that all hedge funds are tracked and even a quick analysis of the top fund managers Boone Pickens, Stevie Cohen, Paul Tudor Jones (the guys with longevity) these traders all trade for huge moves. So that's public knowledge.

Secondly, almost every prop shop that I've traded at has one or two real stars that bang out 100 and 200k months and if you take the time to speak with them you will find that it's ALWAYS the 3-5 super running trades that make their months and this is exactly the same in my account.

It's always those 3 great trades per month that make you 100k.

Swing for the fences and take lots of small loses or break evens.

Anytime I can risk $1 to make $10 I am all over that trade.

 

[MandelbrotSet]

Quote from Joab:

Well first let me say that all hedge funds are tracked and even a quick analysis of the top fund managers Boone Pickens, Stevie Cohen, Paul Tudor Jones (the guys with longevity) these traders all trade for huge moves. So that's public knowledge.

Secondly, almost every prop shop that I've traded at has one or two real stars that bang out 100 and 200k months and if you take the time to speak with them you will find that it's ALWAYS the 3-5 super running trades that make their months and this is exactly the same in my account.

It's always those 3 great trades per month that make you 100k.

Swing for the fences and take lots of small loses or break evens.

Anytime I can risk $1 to make $10 I am all over that trade.

Comparing the macro strategies that hedge fund traders employ to what retail (or even many professional) traders do is like comparing ... bananas to beef steak.

IOW, there's just no comparison at all.

But I'm glad you're a successful trader, and I'm glad we're keeping the conversation on trading.

Best

P.S. I am sure in most (if not all) of your trading you employ price action to help you determine when to hold'em and when to fold'em.

 

[fearless9]

Quote from Joab:

Well first let me say that all hedge funds are tracked and even a quick analysis of the top fund managers Boone Pickens, Stevie Cohen, Paul Tudor Jones (the guys with longevity) these traders all trade for huge moves. So that's public knowledge.

Joab,

Silly boy.
Hedge Funds and retail traders are two different animals.

regards
f9

 

[ammo]

allright, price action today shows no pullbacks, we are at a major res line at 1440,everyone knows this number,selllers are not coming in, this is accumulation or distribution,i think its going higher,i;m already short and don;t want to cover here,this is where i often get nailed...this is my mental block spot in trading...any thoughts

 

[MandelbrotSet]

Quote from ammo:

...any thoughts

If it's going up, why are you shorting?
***
This is the second part of the equation, and what we do over and over and over and over and over and over again ... until we learn not to.

It's going up, like you said, with no pullbacks. So stay LONG until further notice.