what i've learned + ceasefire

Quote from KymarFye:



Famous last words...

Crossover systems can work well for months or even years, then hit periods when they produce losses just as dependably as they formerly produced wins. If the drawdown hits at the time that, with your recently improved confidence, you've increased position size, then they can erase your profits much more quickly than they built them up. Crossoverers then typically try one or more counterstrategies: They switch or diversify markets, they seek one or more "filters," or they begin to introduce greater and greater elements of discretion. As a result, they will increasingly tend to lose simplicity, reduce profits during good periods, expose themselves to "foolishness," and be left biding their time until the day that non-correlated markets suddenly and devastatingly get correlated...
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great post, kymar.

all the best,

surf:)
 
Quote from aphexcoil:

Ladies and gentleman. I am happy to report that Traderkay has found new employment outside of the trading world. We actually went to visit him at his new job to ask him how he felt about working for the corporate world.

To see Traderkay's interview, please go to this link:

http://sherm.20megsfree.com/burgerking.swf
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ROTFLMAO

nitro :D
 
Quote from bobcathy1:

I found a really simple and fool proof way to make money.
Use a daily chart. Put in a 5 and 15 EMA and when they cross go short when the 15 is on top, and long when the 5 is on top. Get out on stochastic crosses after the entry or at the next cross and reverse.
Your trades will last for days, and sometimes for weeks.
Works great on QQQ or SPY.
Trade a little to get your confidence up.
You can work and do this system. :)
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does it work in choppy period
 

Attachments

Quote from bobcathy1:

Ok, I give in.

The method IS fool proof even for a fool like me.

There are a thousand ways to make and loose money in the market. No one is right and no one is wrong.

The thread was started by a trader who was drowning. I was trying to send him a life preserver so that he would get back in the boat. And help others in the same situation.......

Guess I should just quit trying and let people drown?
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You said it youself, Cathy: "However there is some subtle judgement going on inside me for day trading. Like judging angles, time of day, market news, speed of ticks, hesitations, candlestick reversals, jumping into longer time frames from shorter ones. Watching the tape for sudden spurts in prices is Bob's job. My biggest problem is jumping out too quickly. I am trying to remedy that by using a 13 min chart after the 1 minute trigger goes off."

Every "simple" strategy I've heard of over the years starts out with something along the lines of "go long when this crosses that". And it all sounds great. Until whoever tries it out. Then all sorts of questions arise. And the tweaking begins.

Not that there's anything wrong with tweaking. Or customization.

But by your own admission, you don't just enter at the cross and exit at the next cross. Anyone who says they do isn't being honest with himself.

This is not to say that some strategies aren't simpler than others. But most "simple" systems aren't nearly as simple as they claim to be.

--Db
 
Quote from nkhoi:



does it work in choppy period
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no; systems like this will bleed you slowly in choppy markets. you can tweak them all you like, but tweaking will not sub for experience.

just my .02
 
I find when markets are choppy, the best thing to do is go into longer time periods. Or choose another ETF to trade with.

I have been doing daily trades with QQQ on the cross alone. The trick is waiting out the price crosses and waiting for confirmed MA crosses. Works just fine alone for me. Some of the trades last for weeks.

The problem most people have with crosses is that they look in such a small time frame and do not take into account the larger frames as a backdrop.

I know I seem to be one of the few that likes to work this way. That is ok with me. We all have our favorites.

I also fade gaps. Watch for domes and cups. Reversals. Head and shoulders and the like. Then go with the crosses as triggers.
Works best for me on NQ and ES because of all the overnight data.

This is my last explanation.
 
Move to Chicago.

A thing in Chicago prop.(actually a trading) firms are:

1. Don't put money upfront.

2. Don't sign contracts that are more than 1 year.

3. A lot of firms give out draws.

4. Don't trade for a company that has a required trading volume.

5. Considering the above, you should be getting 20-30% of the profits / month. 40+% / after year end.

6. Goto a trading firm, not those churn prop. vendors. If you don't mind all the cold/windy weather and have no financial or personal obligations, move!
 
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