Why does TA not work (for you)?

Quote from RCG Trader:

Surf, I am in the black, with a before the fact entry and stop loss call. Based on TA. Where you at man?
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I think surf's price driver is DUI
 
Quote from TheBlackHand:

Yeah right. Ok then.

BTW, when you tried to answer the guy who was getting slippage on CL and you advised him to go to a lower time frame...

Well the correct answer you should have given him was of course to use a STOP LIMIT order. It had NOTHING to do with the CHART, but EVERYTHING to do with TRADING. You really should have known that given you claim to trade CL and make 6 figs a year doing so (unimpressive anyway)

Going to another time frame would have been a whole different system and required a whole bunch of other stuff you probably dont get yet.

Only a trader would have known that. To someone who is in the market every day, that would have been obvious. I thought I'd give you or the other TA followers some time to see if they could answer that for them selves. Alas, no. None of the TA gurus here know anything of the real trading world.

Good luck with your paper trading dear. You'll get there one day.
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Wow.... do you even know how a stop limit works??? If you set it to only accept only a tick or two of slippage it will skip over you and never fill... if it quickly comes back down and does fill you then the breakout will likely fail and your stuck...'in theory' yes it does solve the problem..in practice...not so much
 
DATE MKOP T= W/L WIN%
8-2 UP 1.5 27/3 90%
8-3 UP 1.5 18/1 95%
8-6 DWN 1.0 18/1 95%
8-7 UP 1.5 35/8 81%
8-8 DWN 1.5 47/1 98%
8-9 DWN 1.0 24/2 92%
8-10 DWN 1.0 25/1 96%
8-13 DWN 2.0 33/0 100%
8-14 UP 2.0 37/1 97%
8-15 DWN 2.0 34/1 97%
8-16 UP 2.0 35/2 94%
8-17 UP 1.0 19/0 100%
8-20 DWN 2.0 24/3 89%
8-21 UP 1.5 18/0 100%
 
Nice job Hoodoo. So when are you going to meet with Surf and his quant team to discuss the details of your method? :D

Quote from hoodooman:

DATE MKOP T= W/L WIN%
8-2 UP 1.5 27/3 90%
8-3 UP 1.5 18/1 95%
8-6 DWN 1.0 18/1 95%
8-7 UP 1.5 35/8 81%
8-8 DWN 1.5 47/1 98%
8-9 DWN 1.0 24/2 92%
8-10 DWN 1.0 25/1 96%
8-13 DWN 2.0 33/0 100%
8-14 UP 2.0 37/1 97%
8-15 DWN 2.0 34/1 97%
8-16 UP 2.0 35/2 94%
8-17 UP 1.0 19/0 100%
8-20 DWN 2.0 24/3 89%
8-21 UP 1.5 18/0 100%
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Quote from kingjelly:

Wow.... do you even know how a stop limit works??? If you set it to only accept only a tick or two of slippage it will skip over you and never fill... if it quickly comes back down and does fill you then the breakout will likely fail and your stuck...'in theory' yes it does solve the problem..in practice...not so much
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I was going to reply directly, but you answered it perfectly. I've never used a stop limit in CL for that exact reason. My worst slippage in CL was a very innocuous-looking ascending triangle breakout, slipped 21 ticks, but still got a fine profit on it. Slippage like that means, "Longs, try and catch me; shorts, you're toast!"
 
R. RASKOLNIKOF: Nice job Hoodoo. So when are you going to meet with Surf and his quant team to discuss the details of your method?
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You da man RR. Great sense of humor.
Regards:D
 
Quote from NoDoji:

I was going to reply directly, but you answered it perfectly. I've never used a stop limit in CL for that exact reason. My worst slippage in CL was a very innocuous-looking ascending triangle breakout, slipped 21 ticks, but still got a fine profit on it. Slippage like that means, "Longs, try and catch me; shorts, you're toast!"
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I've only been trading CL for about 4 months now, but I've never had a stop limit order fail and it's basically the only type of order I use. I also submit my orders far in advance of the actual trade, as much as possible, so I probably have some priority among the limit orders.

Also, I adhere to the idea that there is always another trade coming down the pike, I just don't know the exact time of its arrival. Missing any single trade, while it can suck, just isn't a big deal when I forecast that I will make hundreds of trades over the coming year. If I miss out on a dozen of them or so, I can deal with that.

It does move quickly when it wants to, though.
 
Quote from kingjelly:

Wow.... do you even know how a stop limit works??? If you set it to only accept only a tick or two of slippage it will skip over you and never fill... if it quickly comes back down and does fill you then the breakout will likely fail and your stuck...'in theory' yes it does solve the problem..in practice...not so much
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Stop limits are not a panacea, but they are my order of choice. I think that slippage is a real issue, especially if you're trading some size, but I think that unless you are getting in at prices where everyone's looking to get in (or vice versa) or you get hit by some news spike from nowhere, I doubt you'll get slippage so bad that your stop limit order doesn't fill.
 
I think it would be great to start a thread about stop loss orders. I only placed two many years ago and they both failed. Be nice to see how it works now. been thinking about it lately but just haven't got the nerve to do it yet.
 
Quote from logic_man:

I've only been trading CL for about 4 months now, but I've never had a stop limit order fail and it's basically the only type of order I use. I also submit my orders far in advance of the actual trade, as much as possible, so I probably have some priority among the limit orders.

Also, I adhere to the idea that there is always another trade coming down the pike, I just don't know the exact time of its arrival. Missing any single trade, while it can suck, just isn't a big deal when I forecast that I will make hundreds of trades over the coming year. If I miss out on a dozen of them or so, I can deal with that.

It does move quickly when it wants to, though.
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I could be wrong, but don't stop limit orders sit "off the order book" before they are initiated? I know when I put in a stop limit on TT, it shows as "0" size on the order book. I always thought that once the price is traded it then hits the order book as a limit order (at that point the order hits the market showing what the actual size is and goes to execute at that price or better). So.......you really can't get any priority in the que/at the price in the order book because your order doesn't "hit" the market until that stop price is hit.

I could be wrong, but if I'm right it wouldn't really be an advantage to place stop limit orders early. Limit orders, definitely, but not stop limits.
 
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