corse I see the trades the system made but not for today!!!!
I do nut update every day in my database of historical data...
If a system has not worked last year and the 2 years before - IMHO it's not worth watching real time.
Something very simplistic
- Thread starter Quah
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corse I see the trades the system made but not for today!!!!
I do nut update every day in my database of historical data...
If a system has not worked last year and the 2 years before - IMHO it's not worth watching real time.
Originally posted by J_Commisso
Quah this is a very unique approach to the market! You are definately thinking "outside the box" with this one...
I am a little confused though; Are you not just simply making random entries or am I missing something? How are the fib time intervals providing you with any kind of an edge?
Thanks in advance for answering my questions
PEACE and good trading,
Commisso
No, the entries are not random at all - they are at those specific times only.
The decision to enter long or enter short at those times is based on something else - whatever you want. Stochastics seem to work well, but it really doesn't matter - maybe you'd find that the current TICK would be your basis for deciding long or short, or that if the temperature in the SP trading pit is above 80 you'd go long, below 80 you'd go short. What ever seems to work would be fine.
Given that, none of it is random at all.
So what is your reasoning for entering the market either long or short on only those specific time periods... Is that what is giving you the "edge"???
PEACE and goodtrading,
Commisso
I don't have any reason other than it seems to work. And the system seems to give me all the things I'm looking for in a system (in my first post).
Like I said, the time is just another indicator. I think if we ask most people "why" the enter the market when indicator XX says YY the answer will be "because it seems to work". And that's all that really matters.
Hey good enough for me Quah
If it works it works!How long have you been employing this method if you do not mind me asking?
PEACE and good trading,
Commisso
I would say the edge, if you want to call it that, is just that it forces a set discipline. I would be surprised if the fib based entry times proved to be more than that. Although it could possibly be interesting to see if over the long haul, a certain time period of entry generated the most income given a certain long vs. short methodology.
i agree with you because you do not describe your system exactly....
but "almost anything will work" is not the case....
annyway If it works for you great keep on doing it.
I see the main problem in limiting profits with a limit order.
FOR ME PERSONALY I found one rule as the moste important one:
let the profits run.
If you manage a trade good you can toss a coin and win over the long run.
The ods that we trader have is to let our profits run. A sports or casino gambler can't do this - if its black it is black it could go darker.....
I see the whole trading thing like gambling but with the big advantage that I can limit my loses and let my profits run.
If I bet on sampres agains agassi I can't add to my position if I see sampres winning.
And if I am on agassi's side I can't say lets go out of the game because agassi is a daddy and not a tennis player
)
That is my trading all about.
Do not take it personally - I have backtested because I was interested in your system and I have poste the results because I think it could be interesting for other traders too.
If you can make money with this system - great !!!!
good trading and god bless america
MW
but "almost anything will work" is not the case....
annyway If it works for you great keep on doing it.
I see the main problem in limiting profits with a limit order.
FOR ME PERSONALY I found one rule as the moste important one:
let the profits run.
If you manage a trade good you can toss a coin and win over the long run.
The ods that we trader have is to let our profits run. A sports or casino gambler can't do this - if its black it is black it could go darker.....
I see the whole trading thing like gambling but with the big advantage that I can limit my loses and let my profits run.
If I bet on sampres agains agassi I can't add to my position if I see sampres winning.
And if I am on agassi's side I can't say lets go out of the game because agassi is a daddy and not a tennis player
) That is my trading all about.
Do not take it personally - I have backtested because I was interested in your system and I have poste the results because I think it could be interesting for other traders too.
If you can make money with this system - great !!!!
good trading and god bless america
MW
Originally posted by J_Commisso
Hey good enough for me Quah
How long have you been employing this method if you do not mind me asking?
PEACE and good trading,
Commisso
This specific method - today is the first day with real money.
I've looked off and on for a while at doing something like this. Have noticed good things based on time but never really put anything together and down on paper with fixed rules.
I've backtested it some by hand - and I see decent results. I'm not into computerized backtesting for many reasons - one being I don't care if this system didn't work 2 years ago. All I care about is that it work now. In a nutshell, all htis system depends on is that there be some decent movement at those times.
This may turn out to be a huge bust. I don't know. But I have enough confidence in it to give it a shot.
You see, I don't really buy the "cut you losses short and let your profits run" thing. What does that really mean? Why isn't letting a .25 point profit run to a 1 point profit "letting your profits run"? And maybe some systems work better when they cut losses short and limit profits.
I came up with a list of requirements that my system needed to do (see my first post). Cutting losses and letting profits run is not one of the requirements. Being profitable is one of the requirements.
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