Now, where do we go from here?
Learning from politicians, big companies and institutions, after apologising for any misunderstanding and inconvenience this may have caused, I could go on as usual.
After my deep insight, however, I think I should speed up things for this thread. I can’t treat this as a course. This means less explaining, which leads to more bickering from nay-sayers, which means to cut some out, which means more bickering and misunderstandings, but this is the nature of forums, right? If anything else, at least I will have an experience in thread management.
I am tempted to propose a proper course or other educational material on this stuff, but this may push me into the commercial side, where the company is usually.... not really nice. Treading on dangerous waters here! I will stop.
Another thing that crossed my mind was to create a spin-off thread where we talk about mechanical and semi mechanical strategies, perhaps starting from this one. It is a fantastic topic, and I love it very much, but I saw there was not much interest in the past and I am not sure I will have the time to do it. I just put it here as a thought.
I am still concerned, however, about expectations. So, let me be as clear as I can:
1) What we have here is yet another version of a trend following strategy. It is quite easy to predict when it works and when it doesn’t: it usually works in a (ahem…) trend? And it does not when there is no (ahem…) trend?
2) The strategy will still be a canvass where to build the next step. Spoiler alert: next step is mainly based on good old, well known and mostly basic Price Action principles most of you are already well familiar with. There is not going to be any fantastic “crocodile fangs” or “revolting monkey” or “triple trifle” new indicator.
3) As much of the PA is really hard to code effectively (perhaps someone here is a programming guru and he can perform some magic, who knows?) the system will become more and more discretional. Every time there is a discretionary element, the stats on which a mechanical strategy are based go out of the window and results will be different for each user, as each user has his/her own idiosyncratic features. I know from experience that with the same principles, same strategy, same parameters, same risk management rules, and a little opening for discretion (individual interpretation) some people are successful and some are not.
Quite depressing, I know, that’s why I would like to make it clear now. The fact that some have been successful with this strategy is no guarantee that many other will be, and this is just how it is.
Learning from politicians, big companies and institutions, after apologising for any misunderstanding and inconvenience this may have caused, I could go on as usual.
After my deep insight, however, I think I should speed up things for this thread. I can’t treat this as a course. This means less explaining, which leads to more bickering from nay-sayers, which means to cut some out, which means more bickering and misunderstandings, but this is the nature of forums, right? If anything else, at least I will have an experience in thread management.
I am tempted to propose a proper course or other educational material on this stuff, but this may push me into the commercial side, where the company is usually.... not really nice. Treading on dangerous waters here! I will stop.
Another thing that crossed my mind was to create a spin-off thread where we talk about mechanical and semi mechanical strategies, perhaps starting from this one. It is a fantastic topic, and I love it very much, but I saw there was not much interest in the past and I am not sure I will have the time to do it. I just put it here as a thought.
I am still concerned, however, about expectations. So, let me be as clear as I can:
1) What we have here is yet another version of a trend following strategy. It is quite easy to predict when it works and when it doesn’t: it usually works in a (ahem…) trend? And it does not when there is no (ahem…) trend?
2) The strategy will still be a canvass where to build the next step. Spoiler alert: next step is mainly based on good old, well known and mostly basic Price Action principles most of you are already well familiar with. There is not going to be any fantastic “crocodile fangs” or “revolting monkey” or “triple trifle” new indicator.
3) As much of the PA is really hard to code effectively (perhaps someone here is a programming guru and he can perform some magic, who knows?) the system will become more and more discretional. Every time there is a discretionary element, the stats on which a mechanical strategy are based go out of the window and results will be different for each user, as each user has his/her own idiosyncratic features. I know from experience that with the same principles, same strategy, same parameters, same risk management rules, and a little opening for discretion (individual interpretation) some people are successful and some are not.
Quite depressing, I know, that’s why I would like to make it clear now. The fact that some have been successful with this strategy is no guarantee that many other will be, and this is just how it is.
3