TA: Parameters will make or break a situation

[userque]

An explanation of what led to the "real-time call" is always a plus. Otherwise, they're pretty useless.

Yeah, that would be a plus. But I wouldn't say that they're otherwise "useless."

Watching someone 'win' is interesting in and of itself. Like watching Evel Knievel make the jump--for an off-the-cuff example. "Useless," but enjoyable, none-the-less...for me, at least.

Technically, most forms of entertainment are "useless."

 

[userque]

I agree on that, real time calls are not the be-all end-all test of a trader. What's important is why the trade was made, and why the stop was placed where it was.

The test of a trader is performance.

The test of a teacher is explanation.

A trader can still be phenomenal...even if s/he doesn't explain anything to anyone.

I guess it matters what you're looking for: a good show, or a good teacher.

________________
"Those who can, do; those who can't, teach"

 

[carrer]

Where is Maestro with his gazzillion monitor trading setup?

@MAESTRO
He was running a fund I think. Curious too.

 

[Xela]

Those who trade price will understand what you're talking about.

Clearly.

it's just the wrong audience and the wrong time.

Indeed ... unfortunately, a couple of people chose (in one case perhaps even unintentionally) to challenge word-usage pretty early on in the thread. That made an otherwise most promising and interesting thread get off to a disappointing start, from which (at ET) it's often quite hard to recover - though this one's managing, now.

 

[tommcginnis]

Ohfergawdsakes.
If you can't put it into code, it's bullshit.
Sheeeesh.
Get over it.

 

[tommcginnis]

I guess it matters what you're looking for: a good show, or a good teacher.

Ancient false dichotomy whipped out by those who've neither had nor been either.

 

[Cswim63]

I tend to look at it in terms of surprise. But it seems to work better when you have an obvious pattern which just got violated. If I have to start doing mental gymnastics to see it, it isn't there. Usually I'm looking at chop. That's the normal state of things anyway. I love disappointment, when something breaks that was working according to the plan, usually trend. Or a piece of news that's unexpected. In order to play a pattern break, you have to know the pattern everyone was trading that was working. Best recent example would be usdjpy Thursday night/Friday morning. That took a long, long time to develop. Weeks in some sense.

 

[Cswim63]

Nine additional parameters is way too many. But , heh, knock yourself out. Good setups are simple. It's the people using them that are complicated.

 

[learner2007]

Nine additional parameters is way too many. But , heh, knock yourself out. Good setups are simple. It's the people using them that are complicated.

I think you are referring to the 9 that I mentioned in my original post. Sorry, that wasn't clear. There were only 2 that could have been applied to the situation that he presented, not 9. I just showed him 7 additional ones that he may, or may not, find for consideration in similar situations. So, of the 9, in any given similar situation, you would normally have no more that 1 or 2 to consider, and those 9 include both positive and negative ones.
Actually, I have over 20 that I use. But, of course, usually only a very few of the 20+ could be applied to a given situation.
True, as you said, the setup itself is fairly simple(once you learn to read price movement). But, the point I tried to make to him was that focusing 100% on the setup without giving due consideration to the surrounding context would have a negative impact on his overall performance.

 

[Mysteron]

Perhaps it would have been clearer and better to have said context instead of parameters. I didn't grow up in an English speaking market environment, so my usage of the word may be incorrect. If so, i'm sorry for any inconvenience it may have caused you.

This doesn't add up. Your use of English and grammar is extremely good so I think you are being untruthful.