what data to track

[dv4632]

I'm a little lost when it comes to strategy design for discretionery trading and wondering if anyone can steer me in the right direction.

I can come up with something that will work for a while, then it's profitability will erode until it doesn't work. I don't know if this is due to normal market "personality changes" or if I'm not doing enough backtesting and data collection.

I track a lot of stuff and don't really if some of it's useless or if there are things I'm missing. Anyone have some advice? I know about usual MAE, MFE, ATR, volume vs avg volume, etc.

Are there any websites/books out there that discuss strategy design / trade mgmt? Not stuff by academic guys who don't trade. I mean stuff by profitable career traders. Most sites/blogs/books I see just talks about entry signals and doesn't get into how to actually devise a business plan to exploit these entry signals.

Not looking for holy grails.... just looking for opinions from profitable traders. Thanks.

 

[jcl]

There are tons of TA books by "profitable career traders", but most of them are worthless for strategy design, and are full of myths, misconceptions, and strategies that won't work. However, there are also a few useful blogs and books about strategy development. Some are listed here: http://zorro-trader.com/en/links.htm

 

[Rita]

Thanks for posting that list. The blogs are interesting.