The Tao of Minimalistic Trading: $300 Daily Profit

speedo said:
I admire your honesty Schizo but your fading the trend scares me.
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No, you're absolutely correct. It was stupid of me to have faded the strong trend. I initially, had a short order resting at 13.75, but the momentum seemed too strong, so cancelled. Then I noticed a double top forming on a waning momentum. Went in at 17.50, which immediately dropped to 12-ish. Why I didn't take the profit then I don't know. We all know what happened next. The bulls charged and I got pummeled.

Lesson of the day: Never fade a strong momentum; always buy the damn dip!
 
hitchslap said:
IAmNobody doesn't doesn't look at chart patterns or draw lines on charts or draw ranges or anything else that is accossiated with 'price action'. He trades mathematical models
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Enlighten me, how do you exactly trade "mathematical models"? I can only think of arbitrage, which is pretty much off-limit for retail traders.
 
Aj2014 said:
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Found it a bit easier today than yesterday for me! We should put our heads together ;)
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I think you did the right thing by drawing boxes. That defines the price range (horizontal axis). However, it would also help to draw a vertical range that defines the time cycle. *Hint, hint* (Q&A session is not available for this topic, so don't ask me questions.)
 
hitchslap said:
IAmNobody doesn't doesn't look at chart patterns or draw lines on charts or draw ranges or anything else that is accossiated with 'price action'. He trades mathematical models
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schizo said:
Enlighten me, how do you exactly trade "mathematical models"?
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Isn't it is all math? I mean, strip out the fear and greed, the raw human emotion, the rampant attachment to one's ego, etc., and isn't it all math - every single tick and its relation to every other?

Every bit of it is math. I too trade mathematical models. In fact, anyone who trades based on any form of analysis based upon what price has and is doing in order to extrapolate a probability as to what price is more likely to do next is using math. Most people suffer from an incurable innumeracy and thus never make the connection (which is no surprise to anyone, is it?)

It's all math ... here is 5 minute ES chart:

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@i am nobody 's mathematical models are going to be using the same base data as anyone else who is trading the same market.

And make no mistake, he is using market data:

i am nobody said:
I looked it up:
Technical analysis is a method of evaluating securities by analyzing statistics generated by market activity. A technician looks to take the emotion out of investing by applying rules that usually apply to almost every investment that fluctuates in price in a free market.

So, although your native language is english and you apparently are an expert in trading, the basic knowledge about trading is still missing.

There is:
  • fundamental analysis
  • technical analysis
As I am not a fundamentalist, I am a TA'er.
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What I find invaluable in @i am nobody 's contributions are not his references to mathematical models. As I said above, he has not shared anything akin to a "set up." But there is wisdom in his posts that is likely only accessible to one ready to receive it (how's that for mystical). So I stand by my opinion that @i am nobody is one of the very few actively posting at ET who is worth following, reading, and studying.
 
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Not as good as yesterdays, but still a good day.
Took quite a few stop outs trying to short the high 70's
 

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