This is what emerges from a debate as opposed to diatribe.
Here is an interesting podcast from Laurent Bernut to support your case Singua
http://bettersystemtrader.com/091-le...aurent-bernut/
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Dislikedhow to explain this??? Let me attempt. ...... I hope there are no more confusions.Ignored
DislikedLet's assume for some reason his method is able to pinpoint with high accuracy the entry point where the price moves least against his trade and his forecasted direction is correct.Ignored
Disliked{quote} I wasn't necessarily confused by your explanation; in fact, at one point in my journey I used to think similarly to the way that you describe. But...... You win by being long while price is rising, and/or short while price is falling. All of this occurs between your entry and exit. Hence both the entry and the exit have a commensurate effect on the outcome. In other words, a different entry price would cause a different result. To whatever extent entry is a "calculated guess", exits are likewise. (Analysis skills are not necessarily sharper...Ignored
Disliked{quote} I hope I can shed enough light for you to see the point of view. Q. When do you know you entered at the wrong price &/ direction? A. When you exit. This means your entry at the point of entry was neutral (neither good/bad)...because you did not know the future. What made it a great trade/loss was your exit. Therefore entries are not exactly relevant in themselves...not having to bother about pinpoint entries does make things mighty easier I should also add.Ignored
Disliked{quote} Doesn't affect my trading by much but when a Mr. Know-it-all trader claims he is profitable, have friends in the hedge fund industry ready to invest millions and later on I find out he is in his late 20s living in the basement of this parents house barely able to support himself and living off rebates.... it pisses me off. Another dude just doesn't want to share his code after spending a lot of time discussing strategy or this dude who...Ignored
Disliked{quote} you sure? who's money i'm taking? is it yours? somebody's paying my mortgage.. {image}Ignored
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where is the money in it? You can analyze and play economics till the cows come home, but that is just talkIgnored
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As a trader, I pinpoint areas where price moves vertical and then I enter and exit according to that movement. I don't really care why it movesIgnored
Disliked{quote} ....and through the mist of orcish narrative their occasionally is a gem. Thanks for the discussion Singua and Hanover...... This is what emerges from a debate as opposed to diatribe. Here is an interesting podcast from Laurent Bernut to support your case singua http://bettersystemtrader.com/091-le...aurent-bernut/Ignored
Disliked{quote}I would challenge anybody to devise a system using coin-toss entries whose overall P/L can't be improved upon by using analysis-based entries.Ignored
Disliked{quote} You can end the discussion if you want but you cannot put an end to statistical results. Certainly a degree of reliability does lead to "some probability" (:Ignored
Disliked{quote} Exactly. You are a position trader, or pretend to be a position trader, and I am not. I could care less about the things you think are important. The "professionals" all trade like that because that is how they were taught. Monkey see, monkey do. Why? Because the vast majority of them are salesmen or friends of friends and have ZERO training in economics, finance, accounting, statistics, trigonometry, algebra, geometry, calculus, etc. That leaves them at a big disadvantage against traders like me, but hey, you gotta teach them to trade by...Ignored
Disliked{quote}All I need to do is follow the pattern that you and all the other apes create.Ignored
Disliked{quote} orcish... Only very intelligent people, or fans of the Lord of the Rings use that word.Ignored
Disliked{quote} The best trading systems need no money management techniques. No SL No TP No martingale No grid No scale in/out MM is like training wheels. For beginners.Ignored
Disliked{quote} The best trading systems need no money management techniques. No SL No TP No martingale No grid No scale in/out MM is like training wheels. For beginners.Ignored
Disliked{quote} I have this system with bold. If you consider trading small sizes (like 100 micros or 10 mini instead of one 1 lot position) not a scale in/out then make that bold too. I have struggled to successfully apply MM. Every time I apply MM or increase position size during the week, it decays my performance. May be it is in my head :-( This is really what my automation goal has been... to design a system that can absorb shocks from any market event and not make a significant dent (under 10%) to my portfolio. EDIT: I am able...Ignored
Disliked{quote} its the apes that moves the market, not you and all your squiggly lines. It's laughable to the point my muscles are sore that you actually believe this crap. You do know that patterns you trade also exist in charts of volcanic activity, criminal activity, global warming. Yes apparently clever clogs like yourself seem to believe that a pattern on the chart, lets call it pattern abc, is related in outcome and underlying dynamics to pattern abc that formed 2 weeks ago. Do you realise how stupid this is, i guess not but such is life (full of...Ignored
Disliked{quote} What is this Lord of the Rings of which you speak?....../tic........ Hi J :-) Mordor is growing restless it appears.Ignored