Do a search on rubberbird. He was one of the all time great traders on ET. 
The best traders in ET
- Thread starter GloriaBrown
- Start date
To the OP:
I believe you asked about traders.
Most of the volume on markets is NOT trading volume.
Statistics are largely used in the financial industry by those who are NOT trading.
The part of the financial industry that deals with trading is the smaller part of the financial industry.
Trend trading is a focal point of many traders. these traders fall into two categories:
1. followers
2. others.
In the other category there are Predictors, Bettors, Hope'rs, Edge Traders, etc.
Following is a lagging proposition. there you see risk and money management. Both are common to most of the "others" as well.
For your vantagepoint (that includes stats as you say), you are not going to have a career in trading.
Your comments show a cluttered mind has occurred. Now in this thread investing (the 70% unknowly based post) has been mixed in with trading the original subject of the thread.
There are many excellent CW styles of trading. They all, collectively, cannot be compared to the market's offer. Many of these CW practioners have been mentioned to you.
Trading is also broken into the pro and amateur realms. Temporarily, your career couyld be thought of as proceeding along the lines of the amateur who mistakenly uses stats to bet on her placement of capital. to do this a great deal of risk and money management must occur after a position is betted upon.
The art of trading falls largely in the field of "hoping after prediction". Neither work profitably.
The big job of the insisive trader is eliminating flaws, anomalies and noise from exisitng, ever. That is not going to happen for you, ever.
So, for you, it comes down to shooting the messenger and being happy after that in a somewhat truncated space.
I believe you asked about traders.
Most of the volume on markets is NOT trading volume.
Statistics are largely used in the financial industry by those who are NOT trading.
The part of the financial industry that deals with trading is the smaller part of the financial industry.
Trend trading is a focal point of many traders. these traders fall into two categories:
1. followers
2. others.
In the other category there are Predictors, Bettors, Hope'rs, Edge Traders, etc.
Following is a lagging proposition. there you see risk and money management. Both are common to most of the "others" as well.
For your vantagepoint (that includes stats as you say), you are not going to have a career in trading.
Your comments show a cluttered mind has occurred. Now in this thread investing (the 70% unknowly based post) has been mixed in with trading the original subject of the thread.
There are many excellent CW styles of trading. They all, collectively, cannot be compared to the market's offer. Many of these CW practioners have been mentioned to you.
Trading is also broken into the pro and amateur realms. Temporarily, your career couyld be thought of as proceeding along the lines of the amateur who mistakenly uses stats to bet on her placement of capital. to do this a great deal of risk and money management must occur after a position is betted upon.
The art of trading falls largely in the field of "hoping after prediction". Neither work profitably.
The big job of the insisive trader is eliminating flaws, anomalies and noise from exisitng, ever. That is not going to happen for you, ever.
So, for you, it comes down to shooting the messenger and being happy after that in a somewhat truncated space.
Quote from bighog:
Forget all the abstract stuff. In trading you actually are 100% of the game. As in tennis, unforced errors will ruin the best of games. Listen to Chrissy, MaryJo, Pam and the other gals that were great in the day, they never say: "the court is ruining their game, the ump is giving her bad calls, etc, etc, etc. The court is NOT always the same, hard court, clay, grass. tightness of the strings matter, the variable's are many.
What you here is: "her game is a mess, she is a mental wreck", "she needs to get aggressive like she was in the prior match, timid will not get her past this gal".
Math is useless, stats will do no more than allow you to place odds on a particular pattern, idea etc.
What works is a process of elimination, discard what does not work and develop a METHOD that is for your game.
Tennis is an individual sport, so is trading, they both are "you against everything the competition throws at you"
If math and science were useful, there would be no game, cut and dried answers are for rocket scientists.
"she needs to come to the net more" "she forgot to bring her game today"
Yes, we are predicting, but please realize we are NOT guessing, big difference there. We can not control the mkt's but we can control OUR game, we MUST control OUR game or it will be all for naught.
One more tiny tidbit: Even if automation worked, not saying it does not, you FIRST must learn how to trade before you can ever have even a HOPE of automating anything. Some do it. Simple is best to automate...VERY simple.
Basically it is how to trade (objective way is math) with using stats to prove the way works in history and math theories. For serious sport players, they also need to use computer (math+stats) to do analysis of their moves and opposites moves. For tennis courts, glasses, sands, those are very small factors comparing to how much the players' skill affecting the game, as I said sport player is 50% of the game, while you as a trader is like 0% of the game.
Your job according to you is to affect price.
MY job is to make money, regardless of price.
I'm 100% of my game, you are 0% of your game.
Works for me.
I can just tell you 100% want to earn money. You are 100% of your game doesn't help you to have higher % to gain money from market because you cannot affect the market with your mind.
Another TA true believer appears to have bit the dust. not to mention Cornix seems to have vanished also from his TA thread. It all looks great in hindsight, too bad we don't trade in the past.
I am impressed austin had the nerve to give it a shot-- this sets him head and shoulders above the "other" TA price action deluded souls on elite who are afraid to take the combine. what jokers!
surf
I am impressed austin had the nerve to give it a shot-- this sets him head and shoulders above the "other" TA price action deluded souls on elite who are afraid to take the combine. what jokers!
surf