the trading systems section - you won't find the holy grail of trading examples and rules there
- #21
- Mar 22, 2010 2:02pm Mar 22, 2010 2:02pm
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
- #24
- Edited 2:33pm Mar 22, 2010 2:22pm | Edited 2:33pm
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
More than this, he told that you shouldn't backtest it, as the whole idea is trading it!
Looking at how many vouched for him or consider him a guru is really scary.
I think overall what I'm hearing from you is that you want a filter before you invest time in reading a thread or following a method. Understandable, since like you said time is money / time is valuable. Ultimately it maybe difficult, best practice would dictate, that regardless of what method is presented each person should do their own testing to see if it has value for themselves. All of which takes time. I don't think there is that much that one can do to 'save time'. Time is part of the process and from the sounds of it A WHOLE LOT OF IT.
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #25
- Mar 22, 2010 2:23pm Mar 22, 2010 2:23pm
- Joined Sep 2007 | Status: gone fishing | 5,782 Posts
In spite of having posted here myself with good intentions, nothing in forums means anything without a context.
You won't find neither the context nor the truth in a forum....
- #26
- Mar 22, 2010 2:27pm Mar 22, 2010 2:27pm
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
Yeah that Scotty guy probably buys his cars used. Lol.
Anyway, the other stuff, no-one said anything about getting rich quick or personal ATM's
- #28
- Mar 22, 2010 2:59pm Mar 22, 2010 2:59pm
- Joined Dec 2007 | Status: Informed | 1,641 Posts
Anyway, the other stuff, no-one said anything about getting rich quick or personal ATM's
Don't tell anybody I told you.
- #30
- Mar 22, 2010 4:14pm Mar 22, 2010 4:14pm
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
Interpretation, it's a funny old thing!
- #32
- Edited 7:07pm Mar 22, 2010 6:52pm | Edited 7:07pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
This quote belongs to supremeChaos...
My opinion that it is important to know how profitable a trader is..
Time is a resource. I don't have thousands of hours every day to read everything I would like and then to filter the useless junk.....
Having said that, i commend u for putting order in this forum, in your own little way.
u have a good point about time. & specifically about YOUR time.
instead of giving a lengthy reply, i have extracted quotes from the previous posters. these are my exact thoughts in their own words.
Here's the problem with this line of thinking...
...
What does this tell you?...
The problem with these type of inquiries is that they never lead anywhere useful and I think that was the point of SupremeChaos' comment. Does scotty telling you he is profitable really matter? Are you going to believe him? If he can somehow prove it, without you having traveled his path, will it even matter?
There is a wealth of good info on this forum sprinkled[b] amongst a ton of useless crap. Finding the good stuff is...
YOU need to prove to YOURSELF that YOU can make money. It doesn't matter that other people can prove to you that THEY can....
..
I think overall what I'm hearing from you is that you want a filter before you invest time in reading a thread or following a method. Understandable, since like you said time is money / time is valuable. Ultimately it maybe difficult, best practice would dictate, that regardless of what method is presented each person should do their own testing to see if it has value for themselves. All of which takes time. I don't think there is that much that one can do to 'save time'. Time is part of the process and from...
I have not yet made a single penny on forex or any other market whatsoever but over the years that I have been reading around this and other sites I have already learned powerful lessons....
(Side comment, but I am pretty sure that Osler and Lyons do NOT even trade. They are economists...
...
So have you guys phoned Carol Osler, Larry Harris, Bob Shiller, Dick Lyons, ect. to verify that they are profitable traders? If they are not getting rich quick then they must not have a clue as to what they are talking about.
You will not find a system on a public forum that will serve as your personal ATM machine. It's just not gonna happen. You have to read a ton of stuff, and stare at a lot of charts and other things, and if you're lucky maybe you'll notice a thing or two and begin to put the puzzle together....
Well, you missed the point...
It would be nice that anytime some experienced trader shares his knowledge to share also some hard facts about his profitability. If that trader remains long enough here you can see if he is lying or not. ....
also, a trader staying in FF long enough doesnt guarantee he is not lying/has not lied. (of course im just pointing it out, & im not pointing at anyone)
...
The problem ofcourse is that the thread were talking about discusses a highly discretionary system where profitability is predicated on ones personal experience and skill. Theres a theory and practical application components that are related but distinct. So even if the theory is sound, one or more traders may never become profitable while applying it....
.. As Darkstar pointed out there are gems of knowledge one can possibly use in the Factory, but they are buried under a pile of crap. And it is again up to the individual.
As to the fti example - you have either just tried to read the thread (a hint - the core is within the first 300 pages)...
------------
...
And if I must show an example, let's use my dear DIBS system. The guy who first described it failed to mention that trading more than one pair you could very soon find yourself having 40-50 losses in a row...
if YOU trade it with 40-50 losses in a row, u certainly have a problem.
I don't believe PC ever said that at all. He said it was a method that would be hard to make a robot out of because it has a discretionary element to it...
- #33
- Mar 22, 2010 8:18pm Mar 22, 2010 8:18pm
- Joined Apr 2009 | Status: Live and learn. | 25,178 Posts
"If The Fool persists in his Folly he will become wise." - William Blake
- #34
- Mar 22, 2010 8:51pm Mar 22, 2010 8:51pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
The Fool,
- #35
- Mar 23, 2010 1:57am Mar 23, 2010 1:57am
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
....Without wishing to criticise the efforts of the free online forums, for most they will remain just another way to confirm what they already don't know - instead of converting them into true professional traders.....
regards
daytrading
daytrading,
- #38
- Mar 23, 2010 11:55pm Mar 23, 2010 11:55pm
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
- #39
- Mar 24, 2010 12:12am Mar 24, 2010 12:12am
- | Membership Revoked | Joined Nov 2005 | 1,429 Posts
Wow, you got the scoop there mutt. Traders make losing trades. Guess that means they must always be net losers and have no idea what they are talking about.
Well, everyone except Pipmutt ofcourse. He NEVER makes losing trades.
BTW, where is the Pipmutt system thread? As the resident educator of everything that DOESN'T work, maybe you can enlighten us to how a TRUE master does it?
Well, everyone except Pipmutt ofcourse. He NEVER makes losing trades.
BTW, where is the Pipmutt system thread? As the resident educator of everything that DOESN'T work, maybe you can enlighten us to how a TRUE master does it?
- #40
- Mar 24, 2010 1:50am Mar 24, 2010 1:50am
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
Wow, you got the scoop there mutt. Traders make losing trades. Guess that means they must always be net losers and have no idea what they are talking about.
Well, everyone except Pipmutt ofcourse. He NEVER makes losing trades.
BTW, where is the Pipmutt system thread? As the resident educator of everything that DOESN'T work, maybe you can enlighten us to how a TRUE master does it?
I was just pointing out the futility of 77 pages of convoluted speculation about the market and it's players, together with the sometimes novel and colorful terminology! It might be interesting but when the object of trading is to make money it doesn't seem to be of any practical use, and certainly no more predictive or accurate than any other strategy despite your claims to the contrary.
Don't forget you're the one who started this by stating that (short-term) TA trading strategies always lose in the long-term, and boasting that you haven't had a losing trade in a year. Then you posted account summaries which we all agree are meaningless. The only live trade you posted lost the best part of 50k.
I suppose what amused me was you and your protege telling people how they didn't 'get it' and then Scotty going into some long-winded explanations and speculations about what the market and it's players were doing and why, and then after all that the only live trade posted lost money, you could have been better off just trading some really simple strategy, well you couldn't have done much worse put it that way!
Sure everyone has losing trades, that's the nature of the game, but it's like Soros says in my sig.
It really doesn't bother me how other people trade or what tools they use to help them make trading decisions, no matter what they tell you no-one has the monopoly on profitable trading strategies, a trader's success in this business is measured by his results.
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