Trading can be easy
- Thread starter Ditch
- Start date
- Status
Quote from traderkay:
Ditch, the devil is in the details (discretion). The way you bail before your stop is hit, the way you require more confirmation on some signals and not others, the way you take some signals and not others, the way you move your stop to break-even. All that makes the difference. People reading this setup wouldn't know how you do the things above. The point is.. if this had no discretion involved, yes a 12 year old could do it. But the way it is now.. no. If you really wanna help some people, start a journal with everyday chart examples of the trades and Q&A. Then the *might* be able to grasp "the rest of the story" (discretionary). And finally, trading is not easy, would you share how long it took you discover that trading was easy? I rest my case
Succesful trading requires 3 things imo: an edge, experience and conviction to execute it. What you call discretion is experience and conviction. These can only be obtained through practice. The setup is valid is however. as for your last question it took me about 9 months of full-time trading to get an reasonable level of experience and conviction.
and I've got a million of them. But after a while they form a sort of strategy bag. And it's been home home on the range trading now for quite some time. And a sustained range is a trend.
Maybe it's semantics. I know this, if you add up all the moves on one side after time irregardless of entry, they usually come out to zero minus the spread and commissions.
And that's all I'm looking for, something that will give me a fair 50/50 chance. The entry supposedly gives me the edge, and it's not mechanical because sometimes I pass on the entry.
But to skip to the chase, the money management part is not being shaken out till you hit the other channel. And that my friend is very mechanical, because my discretionary emotions are a basket case by the time I get there, and from the first tick against me they are reminding me about all the times the sky has fallen.
Something about my motives and sources. yes, this setup isn't the holy grail. there is none. Some posters say discretion determines profitibilaty. Unless you're trading purely mechanical , all trading does. Discretion comes with experience. when i started using this setup the best i did was BE, most of the time i lost, right now the pts start coming in. When i'm consistent enough i'll probably start a journal to shut up those who are so damned sure that 10 pts a day can't be done. the setup itself was developed by Jimmer and Buffy of www.dacharts.com
there's nothing secret about it. ist also has been documented by Linda raschke before them. I posted it because i benefited of the work of the former people. they were kind enough to share it. just wanted to return the favor, so to speak. a pitty that some people feel greatly offended by it.
there's nothing secret about it. ist also has been documented by Linda raschke before them. I posted it because i benefited of the work of the former people. they were kind enough to share it. just wanted to return the favor, so to speak. a pitty that some people feel greatly offended by it.
Ditch,
while it is very kind of you to share your system, you are putting beginners at risk of great loss with your system, which is what I condemn. Trading is not easy and it is not a game.
While u may be doing 10 points profit a day on average (which i sincerely doubt), you are an experienced trader with multiple filters in place (discretionary filters). These filters can save you from some downside I guess, but most traders will get burnt trading your system if they do it like a 12 year old.
I guess the title begs criticisms, that is all.
Otherwise, have fun trading
while it is very kind of you to share your system, you are putting beginners at risk of great loss with your system, which is what I condemn. Trading is not easy and it is not a game.
While u may be doing 10 points profit a day on average (which i sincerely doubt), you are an experienced trader with multiple filters in place (discretionary filters). These filters can save you from some downside I guess, but most traders will get burnt trading your system if they do it like a 12 year old.
I guess the title begs criticisms, that is all.
Otherwise, have fun trading
Quote from swoop[TR]:
Ditch,
while it is very kind of you to share your system, you are putting beginners at risk of great loss with your system, which is what I condemn. Trading is not easy and it is not a game.
While u may be doing 10 points profit a day on average (which i sincerely doubt), you are an experienced trader with multiple filters in place (discretionary filters). These filters can save you from some downside I guess, but most traders will get burnt trading your system if they do it like a 12 year old.
I guess the title begs criticisms, that is all.
Otherwise, have fun trading
you're right, i should have chosen another title. But bear in mind through this medium you can do nothing more than hand a setup. Beginners are likely to loose with everything. the trader's edge is for 90% determined by his own mind. I urge people to study this setup and learn to recognize its finesses. When they do, they will come out ahead. I know for sure that this setup is EASY to learn. How fast it will turn in to profit depends on the trader's conviction and experience. It got me to being profitable within a year. And why do you doubt that i can average 10 pts a day with this?
- Status