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5 years and still no strategy

  • #1,061
  • May 5, 2017 7:52am May 5, 2017 7:52am
Quoting R3ta
{quote} I dont get your point here. What do you mean? However i firmly believe you may know 100% that does not work in the markets and still have zero strategy to profits from them. Think about it. Trading is a very stressful and unpredictable environment, unless you have a strategy that is completely or mostly automated with a decent edge, it's just not worth it in my opinion. I dont want to live my life around the markets (I did that) and while I could be profitable I want something I can automate and do the hard work for me. This whole discussion...
Well like i said that was a long time ago... that same guy then went on to mentor me for 2 years and he had a win rate of 90%



so i dont get your point either... his advice simply helped me with the stategy i was using at the time which was a buy and hold and pyramid type
thing


Inserted Video
Time hides Nothing
  • #1,062
  • May 5, 2017 8:16am May 5, 2017 8:16am
Quoting CindyXXXX
{quote} Well like i said that was a long time ago... that same guy then went on to mentor me for 2 years and he had a win rate of 90% so i dont get your point either... his advice simply helped me with the stategy i was using at the time which was a buy and hold and pyramid type thing https://youtu.be/Pr9SQri2884
Sigh, win rate means nothing just as you've been saying.
  • #1,063
  • May 5, 2017 8:26am May 5, 2017 8:26am
Quoting CindyXXXX
{quote} Well like i said that was a long time ago... that same guy then went on to mentor me for 2 years and he had a win rate of 90% so i dont get your point either... his advice simply helped me with the stategy i was using at the time which was a buy and hold and pyramid type thing https://youtu.be/Pr9SQri2884

Hopefully the OP is reading all this. This thread has not only been entertaining with loads of drama, but also very sound thought through advice that pertains to the original post.

There is more then one way to "skin a cat". There's more than one way to win in the markets. Some use an indicator based system. Some trade naked with extreme prejudice toward indicators. Others a blend...half naked maybe. But the bottom line is all that matters. What is going to communicate to your personality then mold your trading plan to that.



Some great gems buried in here.

Attached is a type of plant (I would like to know the name of) I found while hunting in the mountains. Reminded me of the structure of the market, full of fractals seeming confusing but has a structure that can be understood.

Attached Image (click to enlarge)
Click to Enlarge Name: 2015-11-03 11.29.10 25%.jpg Size: 357 KB



Trading has been a journey well worth the ride.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,064
  • May 5, 2017 8:27am May 5, 2017 8:27am
Quoting Lindman
{quote} Sigh, win rate means nothing just as you've been saying.
Different style altogether i should have just not said anything lol

Maybe to get a better idea, try taking 30+ trades tommorow (Monday) (if you have the time) with a stop no greater than 5 pips on GBPJPY

see how you end up... Thats what he did... every f day... and 50 pips was a disappointment for him

the buy and hold thing is a whole
different thing .. that was just my strategy before he staryes trying to teach me...

Inserted Video
Time hides Nothing
  • #1,065
  • May 5, 2017 8:32am May 5, 2017 8:32am
Quoting Rufus
{quote} Hopefully the OP is reading all this. This thread has not only been entertaining with loads of drama, but also very sound thought through advice that pertains to the original post. There is more then one way to "skin a cat". There's more than one way to win in the markets. Some use an indicator based system. Some trade naked with extreme prejudice toward indicators. Others a blend...half naked maybe. But the bottom line is all that matters. What is going to communicate to your personality then mold your trading plan to that. Some great gems...
I believe it is this-- http://www.eattheweeds.com/edible-cl...t-to-lichen-2/

Regards
Live today like theres no tomorrow-- Prioritize like you will die today
  • #1,066
  • May 5, 2017 8:40am May 5, 2017 8:40am
Quoting iamsovereign
{quote} I believe it is this-- http://www.eattheweeds.com/edible-cl...t-to-lichen-2/ Regards
Thank you...

Wolf Lichen also poisonous. Explains why it was everywhere in certain spots. No animals ate it.

Now my analogy goes even further. Not only are the Wolf Lichen and the Markets beautiful to observe but treated incorrectly is poisonous. I knew a girl like that once too. Beautiful and poison.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,067
  • May 5, 2017 8:42am May 5, 2017 8:42am
Quoting CindyXXXX
{quote} {quote} Sure, And the advice was quite simple but helped me immensely. I guess when you spend days in the "lab" like a mad acientist crafting some new plan of attack you build up kind of expectations based around your backtestimg and forward testing.. then of course you formulate your momey managememt rules/ risk per trade etc... So what I was told was to lower my expectations to a win rate of 50%... and allow for a loss run of 10-20 trades in a row... which sounded ridiculous at the time, my method on teating was winning 70% so why would...
Congrats, you too have found the truth. Trade a don't care size, or a size that you can calmly sit through losing 20 trades. Do this and understand that currency markets must oscillate and a trader cannot help but win. One that I would also like to add in regards to trading. I set TP, but never SL. Go ahead and laugh. Boring is how trading should be. Manage inventory. Stop trying to pick tops, bottoms, or any of that. The money will come. You will not be able to get into the playboy mansion for awhile, but you will at some point.
If you are good at something, never do it for free--Joker
  • #1,068
  • May 5, 2017 8:44am May 5, 2017 8:44am
Quoting CindyXXXX
{quote}Maybe to get a better idea, try taking 30+ trades tommorow (Monday) (if you have the time) with a stop no greater than 5 pips on GBPJPY see how you end up
That's what I do, except no need for 30 trades, and on UJ because very low spread and similar movements.
  • #1,069
  • May 5, 2017 9:12am May 5, 2017 9:12am
Quoting TooSlow
{quote} Can you state your method in a simple, step-by-step fashion? {image}
Great point. The simpler the better.
If you are good at something, never do it for free--Joker
  • #1,070
  • May 5, 2017 9:23am May 5, 2017 9:23am
Quoting jmn5611
{quote} Great point. The simpler the better.
When I post the Deming quote, many people get upset.
Guess it stings a little.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,071
  • May 5, 2017 9:24am May 5, 2017 9:24am
Quoting TooSlow
{quote} Can you state your method in a simple, step-by-step fashion? {image}
If I REALLY needed to; probably. But price action can't be described.. that quote is irrelevant.

"If you can't describe how to catch a ball then you probably don't know how to catch a ball" doesn't exactly mean a step-by-step set of instructions is going to make someone a major league player.

Part art. Part science.
"The fun is in the hunt. Not the kill."
  • #1,072
  • May 5, 2017 9:29am May 5, 2017 9:29am
Quoting Redeflect
{quote} If I REALLY needed to; probably. But price action can't be described.. that quote is irrelevant. "If you can't describe how to catch a ball then you probably don't know how to catch a ball" doesn't exactly mean a step-by-step set of instructions is going to make someone a major league player. Part art. Part science.
I stand by the Deming quote. We are not talking baseball. We are talking trading. Waffling!!

Attached Image (click to enlarge)
Click to Enlarge Name: Deming_opinion.jpg Size: 44 KB
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #1,073
  • May 5, 2017 9:30am May 5, 2017 9:30am
Quoting TooSlow
{quote} When I post the Deming quote, many people get upset. Guess it stings a little.
It is a basic tenet in corporate America. You should be able to describe you plan in one paragraph or less.

Or, a very common engineering principle is the more moving parts a machine has, the more likely it is to break down.

Quoting Redeflect
{quote} If I REALLY needed to; probably. But price action can't be described.. that quote is irrelevant. "If you can't describe how to catch a ball then you probably don't know how to catch a ball" doesn't exactly mean a step-by-step set of instructions is going to make someone a major league player. Part art. Part science.
PA absolutely can be described, down to a single bar.

Edit. I played baseball. There is definitely a way to catch a ball. What cannot be quickly taught is gauging how far the ball will go, but in time too can be taught. Have you ever watched a baseball game and knew the ball was a home run the minute it left the bat?
If you are good at something, never do it for free--Joker
  • #1,074
  • Edited 9:53am May 5, 2017 9:38am | Edited 9:53am
Quoting TooSlow
{quote} I stand by the Deming quote. We are not talking baseball. We are talking trading. Waffling!! {image}
I buy when the price is low. I sell when the price is high. I sell when the price is going to go lower. I buy when the price is going to go higher. There; I just described my strategy. My apologies if you don't understand the market well enough to know how that works.
"The fun is in the hunt. Not the kill."
  • #1,075
  • Edited 9:55am May 5, 2017 9:40am | Edited 9:55am
Quoting jmn5611
{quote} It is a basic tenet in corporate America. You should be able to describe you plan in one paragraph or less. Or, a very common engineering principle is the more moving parts a machine has, the more likely it is to break down. {quote} PA absolutely can be described, down to a single bar. Edit. I played baseball. There is definitely a way to catch a ball. What cannot be quickly taught is gauging how far the ball will go, but in time too can be taught. Have you ever watched a baseball game and knew the ball was a home run the minute it left...
That gauge is the art. I've been working off the tick-chart and 1m chart for 6 months.
"The fun is in the hunt. Not the kill."
  • #1,076
  • May 5, 2017 9:52am May 5, 2017 9:52am
Quoting jmn5611
{quote} It is a basic tenet in corporate America. You should be able to describe you plan in one paragraph or less. Or, a very common engineering principle is the more moving parts a machine has, the more likely it is to break down. {quote} PA absolutely can be described, down to a single bar. Edit. I played baseball. There is definitely a way to catch a ball. What cannot be quickly taught is gauging how far the ball will go, but in time too can be taught. Have you ever watched a baseball game and knew the ball was a home run the minute it left...
When I was a kid we used wood bats, not aluminum. You could judge by the sound of the crack for distance and the twist of the hips for location. Already moving to catch it before the ball leaves the bat.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,077
  • May 5, 2017 10:06am May 5, 2017 10:06am
Quoting Redeflect
{quote} I buy when the price is low. I sell when the price is high. I sell when the price is going to go lower. I buy when the price is going to go higher. There; I just described my strategy. My apologies if you don't understand the market well enough to know how that works.
Buy low, sell high. Yep. That really helps.

What is better is to tell the trader what low and high is relative to what they are trading. Are they trading a grid? How about time frames? What about point and figure? Don't leave people with riddles, unless you are one of the many who want a following to later fleece when you take them away from FF.

Gauging is not really an art redeflect, it is merely a function of practice. I consider Di Vinci an artist, not a decent baseball player.

Quoting Rufus
{quote} When I was a kid we used wood bats, not aluminum. You could judge by the sound of the crack for distance and the twist of the hips for location. Already moving to catch it before the ball leaves the bat.
Me too. The good old Louisville Slugger.
If you are good at something, never do it for free--Joker
  • #1,078
  • May 5, 2017 10:14am May 5, 2017 10:14am
Quoting jmn5611
{quote} Buy low, sell high. Yep. That really helps. What is better is to tell the trader what low and high is relative to what they are trading. Are they trading a grid? How about time frames? What about point and figure? Don't leave people with riddles, unless you are one of the many who want a following to later fleece when you take them away from FF. Gauging is not really an art redeflect, it is merely a function of practice. I consider Di Vinci an artist, not a decent baseball player. {quote} Me too. The good old Louisville Slugger.
It is an art when the market is being manipulated. But Di Vinci may have been a fantastic baseball player if he had been given the chance to practice.
"The fun is in the hunt. Not the kill."
  • #1,079
  • May 5, 2017 10:17am May 5, 2017 10:17am
I think this thread might be turning to a good direction. Trading is an awful lot like baseball.

Quoting Redeflect
{quote} It is an art when the market is being manipulated. But Di Vinci may have been a fantastic baseball player if he had been given the chance to practice.
Market cannot be manipulated for the retail trader because we depend on charts. Whatever is going on, the chart will show it. Have you ever heard of the term "priced in" Manipulators cannot hide from the print.
If you are good at something, never do it for free--Joker
  • #1,080
  • May 5, 2017 10:49am May 5, 2017 10:49am
Quoting Redeflect
{quote} I buy when the price is low. I sell when the price is high. I sell when the price is going to go lower. I buy when the price is going to go higher. There; I just described my strategy. My apologies if you don't understand the market well enough to know how that works.
That may describe your strategy but it does not describe it as a process.

"... when the price is going to go..." - Describe knowing that as a process.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
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