Seems that the SEC is also thinking something fishy with Larry is going on seeing that they asked him to be arrested in Sydney.
Maria
Williams %R
- Thread starter Pekelo
- Start date
Seems that the SEC is also thinking something fishy with Larry is going on seeing that they asked him to be arrested in Sydney.
Maria
Well, now, see, this is the problem. The quest for the Grail.
IMHO, most folks miss the point about indicators. Take 2 different people...
One guy picks a couple of simple indicators that make sense to him, then trades it for a long time until he really understands how it reacts along with (or how it illuminates for him) what prices are doing. Year after year, he trades the same way, without "optimizing" after a few losses. He takes every signal his little system offers and uses proper risk/reward. If he can survive the months or years long learning curve, he can trade profitably. Eventually, using those 2 simple indicators combined with a few thousand hours of screen time will teach him about price action.
Guy #2: The vast majority of folks change indicators weekly or at best monthly or semi-monthly. They never stick to one or two and really learn them. Then they use 'discretion" and don't take all the signals. After the inevitable losses, they either over-optimize based on last week's charts or they go on the above mentioned task of testing new theories and indicators, "because this one isn't working". These types never really learn about price action - too busy looking for the next super-duper indicator that will never lose.
And so the cycle of failure continues. Most go broke before making it all the way through the full menu of available indicators, the whole time not realizing that most indicators are basically constructed of the same exact components.
So the problem is not that indicators can't work, it is their flighty, unskilled, short-term mis-use of indicators that is the real problem. And the lack of ability to face the truth about that.
If a person is changing indicators all the time, how can they possibly log enough practice time to get any good with it?
PS I fully admit to being guy #2 for several years. I learned the hard way that being good at testing indicators and theories is a great way to avoid really learning how to trade.
No disrespect intended.
Hm, thread is basicly dead since March, then when I piss off people in another thread, this suddenly becames active. How interesting...
Well, guys I give you the benefit of doubt, that you are not a spilover from another thread. So here is a testquestion:
On this chart (aug 17th), how many W% entrypoints do you see, and what is the losers/winners ratio?
Well, guys I give you the benefit of doubt, that you are not a spilover from another thread. So here is a testquestion:
On this chart (aug 17th), how many W% entrypoints do you see, and what is the losers/winners ratio?
Pekelo, you don't prove anything like that.
Write down the exact rules of your system, backtest it from March/06 until now, and then come back to me.
I backtested a similar one to yours based on W.%R(13) , which admittetly used to work like a charm until the day that volatility picked up. Then it fell apart miserably, and no signs of recovering yet.
