What is your "TRADING HOLY GRAIL"?
- Thread starter bighog
- Start date
For index futures - intraday trading:
Current market: YM
Just carrying out the entries and exits each day according to the prediction model.
A template is available for each days market according to certain basic parameters.
The day is predicted and during the market price is tracked within the template.
One process: amassing money and accumulating without withdrawals.
The Holy Grail is not chart based. You have finally to analyze and systemize the correct data. Your accuracy is achieved through the near term: one day and less.
Execution: scooping out the difference H-L daily range but also utilizing gains from other legs in the days gyrations.
Position sizing is key. Entries to exits capture a high average points gain per $ or per contract. But progressing your weight of trading is key to multiplying your gains over time. Never ever be afraid of starting at the lowest level of one contract once you start trading the market where you have very carefully mastered an understanding and knowledge of it.
There are no edges.
This sort of model becomes market affecting but you stop your position size increase before that threshold.
Current market: YM
Just carrying out the entries and exits each day according to the prediction model.
A template is available for each days market according to certain basic parameters.
The day is predicted and during the market price is tracked within the template.
One process: amassing money and accumulating without withdrawals.
The Holy Grail is not chart based. You have finally to analyze and systemize the correct data. Your accuracy is achieved through the near term: one day and less.
Execution: scooping out the difference H-L daily range but also utilizing gains from other legs in the days gyrations.
Position sizing is key. Entries to exits capture a high average points gain per $ or per contract. But progressing your weight of trading is key to multiplying your gains over time. Never ever be afraid of starting at the lowest level of one contract once you start trading the market where you have very carefully mastered an understanding and knowledge of it.
There are no edges.
This sort of model becomes market affecting but you stop your position size increase before that threshold.
Hi Jack,
You have been in this business a long time. I realize that amongst other things, the number of efforts you make are quite nominal not to mention inherent. I was wondering Jack, If you might shed a little more light on the categorical utility methods you might use in your arsenal. Is there one that you prefers most? Or maybe you prefer a simple matter of probable reduction. I personally have learned and evaluated literally dozens of potentials in mine. Thanks.
kt
T
theSnaggle
Quote from Cheese:
For index futures - intraday trading:
Current market: YM
Just carrying out the entries and exits each day according to the prediction model.
A template is available for each days market according to certain basic parameters.
The day is predicted and during the market price is tracked within the template.
One process: amassing money and accumulating without withdrawals.
The Holy Grail is not chart based. You have finally to analyze and systemize the correct data. Your accuracy is achieved through the near term: one day and less.
Execution: scooping out the difference H-L daily range but also utilizing gains from other legs in the days gyrations.
Position sizing is key. Entries to exits capture a high average points gain per $ or per contract. But progressing your weight of trading is key to multiplying your gains over time. Never ever be afraid of starting at the lowest level of one contract once you start trading the market where you have very carefully mastered an understanding and knowledge of it.
There are no edges.
This sort of model becomes market affecting but you stop your position size increase before that threshold.
wha...hmm?
Yeah, you got the right idea.Quote from Deringer:
Elitetrader.com is the Holy Grail.
When all of you pikers get excited on some stock, it's time to short the hell out of it.
95% of the ET masses lose money. Fading the ET masses will move you away from that group.
nononsense
BTW, how do you now when to fade what?
Here is something else that was part and parcel to LEARNING how to trade. Before i ever realized the mkts were so difficult to trade i was like many other newbies to the world of trading. I assumed i just needed to learn more and it all would fall in line just as easily it is to learn any other profession. WRONG!!!!!
Edge trading (as i call it) is what separates the men/boys, Ladies/bimbos. How many will admit to trading with their hard earned money and just having NO idea what the heck they were doing?
I said to self: Self, you are doing something terribly wrong, either find out what is wrong or else throw in the towel and marry for money.....
I reread a couple technical analysis books and then went to the CBOT and to the Chicago Merc and offered to buy a drink here a cup of coffee there and chit chatted with some members in the red jackets etc. Most were very helpful and friendly, COOL!!!
Get your EDGE was the general theme from the pros, find your niche, you have enough knowledge just widdle it down to something you can use day in day out.
When i finally did that it was a world of difference getting up in the morning to trade. I was excited, juiced, and ready to go. No more guessing and throwing everyday solutions to the mistakes in the mkts.
Pavlov taught me in Psych 101 to condition a dog. I took from the members of the CBOT and the MERC the words to condition myself.
Without a workable edge i was dog food.
In this profession, we can make tons of money, it is very hard to do because we must find our own way.......
As the thread was started, i misspoke, i was not looking for specifics, just generalities.
Edge trading (as i call it) is what separates the men/boys, Ladies/bimbos. How many will admit to trading with their hard earned money and just having NO idea what the heck they were doing?
I said to self: Self, you are doing something terribly wrong, either find out what is wrong or else throw in the towel and marry for money.....
I reread a couple technical analysis books and then went to the CBOT and to the Chicago Merc and offered to buy a drink here a cup of coffee there and chit chatted with some members in the red jackets etc. Most were very helpful and friendly, COOL!!!
Get your EDGE was the general theme from the pros, find your niche, you have enough knowledge just widdle it down to something you can use day in day out.
When i finally did that it was a world of difference getting up in the morning to trade. I was excited, juiced, and ready to go. No more guessing and throwing everyday solutions to the mistakes in the mkts.
Pavlov taught me in Psych 101 to condition a dog. I took from the members of the CBOT and the MERC the words to condition myself.
Without a workable edge i was dog food.
In this profession, we can make tons of money, it is very hard to do because we must find our own way.......
As the thread was started, i misspoke, i was not looking for specifics, just generalities.
Nice post bighog, this is the problem of the newbie, like trying to scale a mountain and not realizing there are such things as crampons or concepts such as belaying...and oops...here comes a crevasse. Matter of surviving until you find the tools and gems along the way. So, my holy grail offering would be "TIME"
1. Understanding precise price action to the T for various purposes.
2. Understanding the IDEA behind every market move at their premature level before it has really started.
a. Start of trends
b. Head Fakes
Incorrect actions of fakes
3. Understanding when players put down big money
Currently testing for a reliable mass scale method right now.
2. Understanding the IDEA behind every market move at their premature level before it has really started.
a. Start of trends
b. Head Fakes
Incorrect actions of fakes
3. Understanding when players put down big money
Currently testing for a reliable mass scale method right now.