Stages of a Trader

[feng456]

And what distinguished the failures of your setup from the successes?

My system does poorly in heavy trending environments...You know I've been down this road before so you wanna just get to your point?

 

[Redneck]

Is the plan consistently profitable?

Or possibly

Is the plan being consistently implemented.., in an appropriate way..., for the current PA condition (whatever the current condition may be)

Rhetorical F456 – not trying to insinuate.., nor point fingers

RN

 

[feng456]

As I've said, I have no problems with implementing/execution. I am very disciplined in that regards.

 

[Redneck]

As I've said, I have no problems with implementing/execution. I am very disciplined in that regards.

You addressed 1/3 of the question I posed

What of the other 2;

in an appropriate way

for the current PA condition

RN

 

[dbphoenix]

My system does poorly in heavy trending environments...You know I've been down this road before so you wanna just get to your point?

No point. Just wondering whether or not you've used your analysis to determine why your trading is not consistently profitable. If you haven't, that may account for your difficulties.

 

[feng456]

You addressed 1/3 of the question I posed

What of the other 2;

in an appropriate way

for the current PA condition

RN

I have no idea what "PA condition" is/means.

 

[Redneck]

I have no idea what "PA condition" is/means.

Fair enough

Starting top down

Where is price in the overall trend

Today (open to current)

Price - up/ down / sideways

Volatile / not volatile

Volume - present / not present


Right now

Price - moving (trending to most) / ranging / pulling back / retracing / reversing / choppy / not choppy

What time is it - open / post open / lunch / afternoon / near close (and how does price typically act during those periods)

Is price acting typical

Is there a condition I can exploit

Where is price in the various views (TFs) I'm using

etc...

RN

 

[feng456]

Fair enough

Starting top down

Where is price in the overall trend

Today (open to current)

Price - up/ down / sideways

Volatile / not volatile

Volume - present / not present


Right now

Price - moving (trending to most) / ranging / pulling back / retracing / reversing / choppy / not choppy

What time is it - open / post open / lunch / afternoon / near close (and how does price typically act during those periods)

Is price acting typical

Is there a condition I can exploit


RN

If I could predict the condition of the market before hand based on the info above I wouldn't even need to trade my system now would I? What you are suggesting sounds like discretionary on the fly thinking rather than going in with a plan in mind and executing it.

 

[Redneck]

If I could predict the condition of the market before hand based on the info above I wouldn't even need to trade my system now would I? What you are suggesting sounds like discretionary on the fly thinking rather than going in with a plan in mind and executing it.

You are right... and I am wrong

My sincere apologies

RN

 

[game]

If I could predict the condition of the market before hand based on the info above I wouldn't even need to trade my system now would I? What you are suggesting sounds like discretionary on the fly thinking rather than going in with a plan in mind and executing it.

My understanding of what RN is suggesting is that trading is about conditional probabilities. And while the movement of price is continuous, by categorizing it under various instances of Time, Position & Quality, one is able to made decisions that are aligned with the Line of Least Resistance. Static plans can't do this. This may account for the wide swings in your profitability.