Quote from August:
I am wondering if someone can't point me to a group or individual publicly known strategies so that I can see the kinds of structures of these strategies and use them as a foundation for building my own.
Obviously there are hundreds of people who want to sell me a strategy that works 80% of the time. And everyone likes to point to "it's your psychology that defines the winners from the losers." (So that their strategy doesn't get the blame.) I guess I'm really looking for examples of those kinds of strategies - but not anyone's super secret recipe, I realize those are private.
Thanks.
This is a very interesting quest you have taken upon yourself.
With a three day weekend, I'm spending some quality time myself following a different tack than yours.
Over the next few months we will probably cover the same turf by going in opposite directions.
It will be interesting to see where our paths cross as we keep posting.
In the last couple of years, I have been focussed part of the time on gaining an understanding of how to deal with what a person has to go through to get to expert in a given paradigm as a consequence of stepping out and away from the conventional orthodoxy.
So I am travelling, methodically, back to the that convention checking out how far it is necessary to go into to find a starting point to, then , step out and away.
About the third major step, I checked out 100 books that enveloped the conventional orthodoxy.
I did it in a context that I built by analysis/synthesis.
I did analysis to find the subordinant subjects (700) from 5 expanded searches in the order of programs, data supply, economics, authoritative TA and authoritative market theory and trading theory.
The synthesis was to place these 700 subjects into the outlines of four books that deal with two trading approaches, how any method or approach can be made more effective and efficient and a guidebook on the trader's business plan (provides for constructing a 400 page busines plan).
As an amatuer for about 50 years, I have been informally handing off what I do and it appears that over the last 20 to 30 years there has been an upwelling of a a broader interest by what may be deemed a more general public.
One aspect of this phenomena is a plethora of sales oriented materials and software products to service those hoping to make money in the markets, all from the traditional and conventional orthodoxy of the financila industry. You can see that the sector of cut rate commissions and electronic platforms is designed to sweep service profits from a broader and broader sector of the public.
The trader failure rate is a terrific demonstration of how products and services have been successful in moving money to the few who take it away from the many (servicing charges included)
So my travels from my paradigm back towards and to the beginnings of where people start and how they are characterized is filled with setting up the scope and bounds and the depth of this spectrum of people trudging towards some conventional orthodoxy goals. It is a trudge because of the repeated learning of failure and the meager limits of success that these people get to. The conventional orthodoxy only leads to the financial growth that allows most people to tread water in the true value sense. Observe that the big money does not exceed the indexes and the index growth is the definition of treading water.
The four books do not do the job and that is easy to recognize. A multimedia requirement is apparent from the platform to the final transference product: the expert trader.
The learning model is a core requirement because acquiring knowledge, skills and experience turns out to be a process, without exception. Google "paying dues"
An archive is required for easy of reference, books are serial and indexed and not easily torn apart and recompiled into the traders plan.
There is no adequate glossary that is in a high utility form anywhere. One has to be built from the design that emerged.
The compromise required to allow anyone from any orientation to either learn, serach, retrieve , or adapt partial solutions to personal methods had to be designed and built as well. It is affectionately known as the "oil change chart". Any one can go to an Auto Zone with an empty oil can of any product (think trading method*). At auto zone the clerk looks up or the customer looks up the list of SKU's that are equivalent so he can buy any product other than the one he used before (think going to another method). He also gets to enter our world of trading via a learning model; an archive of knowledge and skills; a three level glossary with links and nodes of related subjects; and a five level concentric subject orientation mechanism.
So you have posted an interesting quest and it is a challenging experience to go through. I haven't gone through what you will. At the time I began I was lucky to have been able to create from scratch more or less. I did read Magee fourth edition as an authoritative resourse. And what I found out was that money could be made all the time because price change was always available. I just made it my business to find the most reliable and repeatable way it worked and I kept doing it from the beginning. At the time, Darvas drew the same conclusions. He did not follow the conventiional orthodoxy nor did I.
Here in this thread you are getting a lot of support and resourse information on the conventional orthodoxy. The traditions of the financial industry are severely and deeply imbedded in the literature and the multimedia offerings of today. If you follow that route you will get those results.
The expression that describes the lock and hold that the conventional orthodoxy has is "What else is there?" It is a question, thankfully but it is darn near impossible to turn the question into a demand for better; if it did happen it would be: "What ELSE is there!!!!!"
A common way to deal with most of this that I mentioned is to shoot the messenger. Being shot is very bearable for me and many people know why at this point.
* we chose 10 primary common profitable conventional orthodoxy methods to cover the bases.
You said "You can see that the sector of cut rate commissions and electronic platforms is designed to sweep service profits from a broader and broader sector of the public."