TA - Objective or Psychological Skill?
- Thread starter cornix
- Start date
so what would be an example of edge then, lets take out the obvious first in que and Jim Rogers sized account. If you were trying to help a retail trader based on your experience how would you tell them to trade? Let's say this person has no clue about markets and is ready to rule the world with a 10K account?
I am guessing you mean daytrading-- I would join a prop firm to learn what edges are actually working now for stocks IE-- dark pool access, different routing edges, ideas like Bright's opening orders, etc. If it was futures, I would reccomend the combine untill you can learn how to read the DOM and/or interpret intraday news events to pass, then trade with the firms money.
surf
Quote from kinggyppo:
gld will close green today currently down 1.04. This is a prediction and the problem with most of these types of calls/statements is that they don't really mean anything. Further, if someone has a trading contest and the market is random, doesn't that mean that trader x is a better random pick em trader than y? That is why I don't understand Surf, if markets are random are not all entries random? It makes no difference and really is the monkey throwing darts issue, carry on.
Nice, brother.
I am selling gold vol OTC. GVZ is marked to 31.52. I think it will touch 27 by mid July. The Jul/Aug switch is a once in a year buy here, but it doesn't trade.
Yes, despite understanding my price action trading strategies, none of these people trade my strategy "note-for-note". Some trade a single setup I've taught them, some are adapting (or have adapted) the concepts to their own trading style (one guy automated a key setup and has been running it for at least a couple years now).
Several just keep watching the tactics work, but have difficulties with the trader's mindset necessary to executing any plan. Having been there, having had two opportunities to mirror trades called in advance with stops and targets, having had time to watch these tactics work profitably over a series of trades, I was unable to bring myself to trust someone else's methods. Once I re-invented their wheels and made a plan that was my own, it still took me quite a while to trust it.
FWIW, one of the thoughts I had about these successful technical price action trading methods at that time in my development were:
"That all sounds good in theory, but I doubt it really works."
You seem to have a nice automated system going
I'm an intraday scalper and my favorite setup is continuation in a strong trend or strong trending move. For CL, I use a 1-min chart to enter in the direction of the trend on 1-min pullbacks. The best resource for the specific 1-min patterns I use for this setup is Volman's Forex Price Action Scalping, the FB and SB setups being the main ones.
gvz is a mini size contract..i traded it many times..but its waste of time until more liquidity can come in. being a mini imo is what prevents true players...but u can trade it; and yes..there is huge edge in that curve.