I've been wrong more times than right yet still profitable.. maybe he does.
My statement still stands.
Who is (very) successful with the ICT Silver Bullet strategy ?
- Thread starter TrAndy2022
- Start date
I've been wrong more times than right yet still profitable.. maybe he does.
My statement still stands.
Remember our friend @padutrader, how good a trader is he? You be the judge.
His posts on Brooks, I tried them all, most didn't work too well in real time except this: Context is very important when considering a trade. It made a difference after I included context in a trade.
You can say it is obvious but I bet most traders don't do it.
Merry Christmas and Happy New Year.
A useful metaphor is learning music. A teacher uses a system to teach the basics. A student could criticize that a teacher doesn't make a living as a performer, or criticize the system by which to convey and practice the ideas. Someone could refuse to learn music production and choose to become a DJ instead yet that also requires the requisite skills.
In the end, it's up to the individual to put all the pieces together, practice, and develop into the musician (or trader in this case) that they envision themselves to be.
There's all levels and folks will either fail to be accountable to themselves or rise and surpass their mentors proficiency.
The steps of Mastery are all the same regardless of chosen domain. The pursuit of excellence is a "me with me" proposition.
So when I say; ask better questions to get better answers, in relation to an edge, what are edges? How are they arrived at? What's the history of edges in trading? What causes and edge to no longer be an edge? Are there ways to have an edge persist regardless of market phases/cycles or popularity? What are the methods used to derive an edge?
Those questions would lead one into the fields of statistics and calculating probabilities. As one gets more experience and skill, then inspiration gets activated to explore various ideas; starting from other's ideas and evolving one's own.
To ground this back into ICT methods, the idea of killzones and time-based trading, for me was very insightful. I first learned of it when trading crypto, using exocharts and footprints at the time. I don't trade those instruments now, nor use that charting software or type of charting but it doesn't matter. Time-based trading is a concept that I'm building my current system around but not in a way that ICT uses. So it doesn't matter if he gave away any edge or not, I have my own database of statistics that I've compiled from my own due diligence. It's provided even more ideas to explore.
Trading can be an open-ended profession but it requires a growth mindset. It also responds to how questions are framed; ask better questions and get better answers.
Here are some equity curves from 8 year fully coded backtests. It it works for some limited time then it is very mediocre. But overall not profitable as I supposed.
That's what I'm talking about. No bullshit, no anecdotal reviews, just straight forward testing.
I'll go with a) and b). I never accounted for the unethical piece-- selling garbage.
For what it's worth, I've considered selling my own system (methodology + proprietary software), but I think it's too good to give away and I want to see if I can monetize it myself instead.
It's a mix of statistical and discretionary trading.
Since it's not fully automated (and may not have the potential to become so either) and is mostly geared towards day trading (although it works weekly, too) it requires me to trade it myself say 1-6 hours per day, 5 days a week.
If I were a good marketer, maybe I'd be able to sell it for $1000. Could I get 100 customers willing to pay that? Could I get 500 sales? 1000 sales? That's 100K, 500K or 1000K.
Assuming I'd be able to generate 1000K in sales, that's certainly a way easier and low effort way to earn a substantial sum compared to taking daily risk in the markets + the hours you have to put in to generate returns.
So, I definitely can see why someone would sell their system if you look at the numbers.
When I saw how much income that MFF fiasco had generated the market for anything trading related is clearly huge.
None of the above escaped me and makes sense. You actually touched on something that I was thinking about this money as I was sweeping my floor--
In my opinion, in the trading space, a person is either a good trader or a good marketer. He can't be both. One sacrifices the other. He can't have more YouTube live streaming time than trading screen time. Content creation is not easy. It requires work.
Hello BAT31,
Anyone selling trading courses in the ES future market is a Scammer and a Liar trying to make a million dollars selling Trading information and Courses, rather then trading their own account.
This is not rocket science.
If you can trade, you do not need to sell nothing.
Last edited: