Predicting intraday price movement

Thanks Porgie for reply.
Of course I posted about my trading concept.Money management is the key factor of trading. I wrote it about scalping.
5-10 and 60 minutes charts are very important for scalpers as well.Trading is very serious business that trader can not ignore anything.
The only thing I do not believe are indicators or indicator based systems.Lagging indicators would only help for losing (for day trading) I trade futures for daytrading and do not discuss for position trading.
If trader is not able to pick potential turning points,it is extremly dangerous to daytrade. trading with more than 1 point stop (ES)means trader is just guessing something.However traders shouldn't trade what they believe, should trade what they see.
Some believes that its impossible to trade ES with 1 point stop because of slippage.however its possible to trade it with just 0.5 point stops even if its hard stop.Eventhough somes say floor traders runs stoplosses ,to run stops costs floor traders more then they expect to gain.

have a good trading.
 
I would never advise anyone as to stops they should use..........different systems require stops that fit the system.......the higher the accuracy of the system i believe, the less likely they will be hit if we set them correctly each time ....correctly meaning based on extreme test time......consequently, they can be mental if trader has the discipline to employ mental stops...... .........but they are always there for the folks who are aware of what can happen..........even if they are mental they are still there...if we want to protect our capital.......much testing should tell us where to set the stops, mental or hard........based on that testing we should never move our stops backward whether buy or sell is on.....moving to breakeven and trailing is trader preference of course..
 
........moving averages are not all lagging.............but finding the ones that are not lagging is not likely to happen for most..........i have them after testing a few thousand combinations..........all charts less than daily are tradable intraday........1 min up..........looking at other markets is extremely distracting.....so, if u are going to play a soccer game why would u watch a basketball game ..........if u think indicators are lagging try other markets for emini's.........even if they are leading they are distraction and damaging mor e times than not................we all look for crutches so blame can't be placed where it belongs when trade fails and we know exactly where that is........
 
Porgie

I've started to pay more attention to your posts, having
determined you are a real person ( and not a computer
simulation ) hee hee.

Wishing you well in your trading.
Wishing I could trade.

Stephen Szpak
 
redduke,

some of it is REALLY GOOD STUFF depending on the market and the trader....and the system used...most systems i have are very simple the best is a very different system needle in haystack.........did i stumble upon it .........no ........years of work...... porgie
 
Quote from porgie:

redduke,

some of it is REALLY GOOD STUFF depending on the market and the trader....and the system used...most systems i have are very simple the best is a very different system needle in haystack.........did i stumble upon it .........no ........years of work...... porgie
More...

Progie

Do you think it is possible to have a system with
a very limited number of rules? A 'system' that would
exist only in a trader's head? (and work of course)

Thanks,

-Stephen
 
porgie,

it seems to me like you set your reward / risk ratio < 1, maybe even less than .5

Is this correct?

Doing this would give you a high win rate but your losses would be large. But if you have been doing it for 5 years like you say, and are profitable, then you must have a real edge.

Aloha,
Jason Lundy
 
Porgie (translated)

For the first few years I used the two most important tools
we can possess, OUR EYES. Then, as time wore on, I
realized that the biggest obstacle to successful trading
with the eyes was the brain. We think we can internalize
the market but this merely causes a bias. This bias, which
exists in our minds is bad. The market goes where it wants
to go and not necessarily where we want it to go...

Then I decided to build a mechanical system. This took
me a long time. The system will show the same entries
over and over. I don't question it. I've tested it and
found it to be extremely accurate...



It sounds like this system is too complicated to
exist in one's head (?) Is it totally mathematical?

-Stephen


http://www.elitetrader.com/vb/showthread.php?s=&threadid=64985&perpage=6&pagenumber=4
 
You must log in or register to reply here.
Back
Top