How difficult is it to find an effective daytrading method?

Quoting mmaker

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{quote}So what do you think of Seneca Pilot's method? Is it meaningful to study such a trading method?

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Quoting CindyXXXX

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{quote} The problem with trying to copy someone else s "method" is that if it is a successful one you will have no appreciation of the journey that trader took to get there. This shouldn't be underestimated... It's almost like being given someone elses trophy for a race they won, it has no meaning to you as all you are receiving is the end product of someone elses blood sweat and tears. You won't know WHY it is they personally choose a certain wait over another, or how they came to certain conclusions. This makes it very hard for you to make it...

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Quoting tubguy

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{quote} Well put Cindyxxxx. You have to make it your own.

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Quoting Eur Usd

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@KK007 - I understand you gave up on Choros - It is a great system and gives nice profits but not in all market circumstances - it gives lots of signals daily and allows to earn a lot - but only in bull/bear market - in consolidations period - like we have now with EUR/JPY or EUR/USD - it is hard to find a good signal - therefore you need to seek for pairs that have bull/bear at the moment - there is always a trend market somewhere. another think is that according to van Tharp one needs to have 2-3 systems to cover all the market situations - maybe...

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Quoting kk007

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Thanks.As said post#1, this thread is not to discuss my personal trading method or style. You are welcome to PM me for anything about this further.Good luck.{quote}

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Quoting zenseven

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kk007, You know, I'm Nassim Taleb admirer He says that things that have been lasted for years probably will survive longer then others. I know only one method here on FF that lasts for 40 years - Technical Analysis Fallacy by FTI It contains few key elements for day traiding and it lasts and lasts: 1. Right Position sizing: 1.1. limited exposure till market really moves 1.2. limited exposure when market ends to move 1.3. Scale in - Scale out - And it should be done fast and not that slow as thread of FTI itself 2. Right indicators of volatility...

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Quoting kk007

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Thanks for your feedback, by the way, do you think it is difficult to adpot or develop an effective daytrading method? Ok, I will consider very difficult, if it requires thousands of hours. Difficult if it requires hundreds of hours. {quote}

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Quoting zenseven

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{quote} kk007 I really think that FTI thread it self shows complete working system. It is active position management system. Many ppl and I put all attention to how to idetintify direction of trend, time to enter, time to exit. but It is secondary thing when One understands right position sizing and scaling... To adopt his system requires few months, but actually i think If i understood position sizing from beginning it tooks me 1 month

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Quoting kk007

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{quote} Great to hear that you find a complete system that can make you consistent profitable requiring only 1-3 months of practising. FTI thread has been here for many years, and I've noticed its existence a long time ago. Perhaps, tons of billionaires has been made through it!!! By the way, how long have you been profitable with it? 1 month or 1 year or longer? You said the system has been lasted for 40year? Where did you find backtesting data for such a long time? Good Luck!

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Quoting zenseven

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{quote} O'k you are getting harder;-) I keep silence about my statements. How it was tested. FTI is bank trader from 80s. One can be profitable once one understands exposure and position sizing. when you hold position with 200 pips loss and it is only 1% of deposit you can bear almost anything. FTI looks like use even lower rates. But is hard to understand that one does not need to use all leverage right now. bcz You are wrong till market proves you right. Read Nassim Taleb: Antifragile... FTI system works because it does not depends on Mathematics,...

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Quoting zenseven

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{quote} O'k you are getting harder;-) I keep silence about my statements. How it was tested. FTI is bank trader from 80s. One can be profitable once one understands exposure and position sizing. when you hold position with 200 pips loss and it is only 1% of deposit you can bear almost anything. FTI looks like use even lower rates. But is hard to understand that one does not need to use all leverage right now. bcz You are wrong till market proves you right. Read Nassim Taleb: Antifragile... FTI system works because it does...

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Quoting kk007

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{quote} Ok. Some people come to this thread and feel free to leave whatever comment they want without really understand Post#1. Sometimes, just don't want them to leave this thread so easily. Ok. Don't want to push you hard further. Not sure if you have been success or not, but good luck with trading! By the way, FTI doesn't admit he has been successful, if I didn't misunderstand him.

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Quoting zenseven

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{quote} I do not want to spend time finding his posts about 500 mln under management and 40% per year for Bank. Good luck to you too. About difficulties, Sorry If i answered different question. My answer: You do not need system, you need manage positions according to market conditions (trend or flat or news or trains) It is key for daytrading. IMHO.

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