That will be far far better than your "hindsight" trades
Son of If You Can Draw a Straight Line . . .
- Thread starter dbphoenix
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That will be far far better than your "hindsight" trades
Quote from Laissez Faire:
To be honest, I'm not expecting anything from anyone.
Unless you're scalping a 10 tick chart, a trading style I do not think is in line with what is taught here, it is certainly possible to post an entry in real time without sacrificing your own trading.
Place your trade. Write a post after you got filled and put your stop in. Easy. People do it in the ES journal all day long. What I have often done there is to post my chart in real time with the levels I look at and then what I intend to do if price acts in a certain way or arrives at a certain level.
Easy.
I'm just interested in knowing if this is a methodology that can be used in real time or if it is more suited to tell a story of what price did yesterday.
The scope of this thread is not about live posting. If you're truly interested in the validity, why can't you do the work and find out for yourself? Isn't that the truest way to decide?
Prediction still involves uncertainty. It's about an expected outcome based on probabilities. Read the quote from Wikipedia.
Anyway, just to make sure, I'm not asking for someone to predict with 100% accuracy. I don't think that's possible myself, although I think it's possible to do a lot better than a coin flip on a consistent basis.
Thank you for reading and enjoy your weekend.
Quote from dbphoenix:
Up. Unless it goes down. But then it could go sideways. I'll predict it all in hindsight. Maybe next Saturday.
My sentiments exactly.
I think your audience deserves a demonstration. In a way, you have a responsibility considering that people reading this may spend a lot of time and personal money on this methodology. So it would be nice to know if it works before we lose our savings on this.
You mentioned a 90 % + win rate, so if you lose on the first trade, you still have nine to go.
Of course, you will not do it for obvious reasons.
No, I'm starting to learn about the scope of this thread.
Let me tell you something...
Everyone who posts here and takes on the role of mentor has a responsibility for what they're writing.
I was much more active in this forum earlier and I used to get PM's from guys who wanted to learn from me and while I was always willing to share what I could, I was always honest about where I was and the fact that I were not yet consistently profitable and had not yet bought a big yacht and a mansion.
In the past, I was much more naive and I actually spent considerable amount of time and MONEY following the advice of people I thought were good traders and even trading for a living with great profitability based on what they told me, only to later on learn that they were inferior to me and barely had money to trade one ES-lot on intraday margin.
That's why I'm asking critical questions, so pardon me if I'm a pain in the butt.
Quote from Laissez Faire:
I think your audience deserves a demonstration. In a way, you have a responsibility considering that people reading this may spend a lot of time and personal money on this methodology. So it would be nice to know if it works before we lose our savings on this.
You mentioned a 90 % + win rate, so if you lose on the first trade, you still have nine to go.
Of course, you will not do it for obvious reasons.
Actually it doesn't even matter whether or not I trade at all, though I've provided demonstrations in the past. The principles are what they are, and what they have been for centuries. And they are available to anyone who's interested in learning them, for free. And one can experiment with them without spending a dime.
Those who would rather find someone who will tell them what to do, however, won't be interested in this sort of thing. Too much work. Too much thinking. But that's the way of it.
Like Ed Seykota said, âA losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. Thatâs the kind of thing winning traders do.â
Several people here have transformed themselves into winning traders. And that's enough for me. This isn't for everyone, by any means.
Quote from dbphoenix:
Up. Unless it goes down. But then it could go sideways. I'll predict it all in hindsight. Maybe next Saturday.
Just like I thought, thank you for the confirmation.
Quote from MadeMan:
Trading is not about predicting ! but participating ! everything else is specualtion
95% of Predictions Fail! they just Fail!
Yes but if you can make decisions and react over 15min bars, you can surely make them on a closed market using daily or weekly bars.
A chart will always be a chart regardless of bar time intervals.
Just like predicted.
I can also quote Market Wizards, but I won't.
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