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
Gone to a better place
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WRB/MC strategy:Coder needed to semi-automate my strategy 11 replies
strategy builder/tester for new scalping strategy 1 reply
Is opposite of losing strategy a winning strategy? 21 replies
After years in trading, do you still believe in get-rich-fast BS? 98 replies
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} yep. I slice and dice my exits many different ways based on time of day, session, currency, %equity etc Cutting losses is trade mgmt in my view. MM is pure position sizing to me, how much leverage/margin (and not risk) I want to put in a trade in relation to trading capital, how I manage available margin, how I manage exposure in USD across other currencies etc.Ignored
DislikedI'm reading this thread and to my left is an advertisement for a company that is giving away money and with that renowned forex trader Usain Bolt as an official sponsor. Reminds me of some award winning cheese I once ate. Time for doing something worthwhile methinks.Ignored
DislikedIf there is one thing that this thread has officially concluded after ~85 pages it's that newbies don't have a strategy. Experienced fools stick to a strategy. Experienced professionals don't stick to a strategy.Ignored
Disliked{quote} Humans use strategies to live. Everything you do is a strategy. That includes trading. If you do not know when to get out when are clearly wrong, you are finished.Ignored
Disliked{quote} Sure, if you want to call 'surviving' a strategy. I mean; 'not surviving' doesn't exactly play out too well. Just go ask...Ignored
DislikedIf there is one thing that this thread has officially concluded after ~85 pages it's that newbies don't have a strategy. Experienced fools stick to a strategy. Experienced professionals don't stick to a strategy.Ignored
Disliked...Disliked{quote} Yes sir, LTCM thought the very same thing, and you will be where they are, in due time. LTCM was run by over confident professors who had no track record of trading. They thought they could eliminate risk by a Black-Scholes equation. They increased their bet size after losses. They tried to recoup their losses by making larger bets. They used MM techniques and failed. LCTM is a lesson on how MM techniques can destroy you and how their trading equation that theoretically eliminated risk cannot profit from chaos. Capeesch?IgnoredIgnored
DislikedThe TV news trader just started ignoring some of us. Wonderful. More of those "feelings" at work, lol. One day he is going to finally get tired of his own BS and want to learn how to start making money, but won't be from me. Don't need his superiority complex in my life, lol, especially when he is so full of crap. Must be the salesman training they gave him? I guess if you work and get fired from a dozen banks and hedge funds you are supposed to be my hero, lol. No thank you. You keep guessing and convincing yourself you know what you are doing...Ignored
DislikedThe TV news trader just started ignoring some of us. Wonderful. More of those "feelings" at work, lol. One day he is going to finally get tired of his own BS and want to learn how to start making money, but won't be from me. Don't need his superiority complex in my life, lol, especially when he is so full of crap. Must be the salesman training they gave him? I guess if you work and get fired from a dozen banks and hedge funds you are supposed to be my hero, lol. No thank you. You keep guessing and convincing yourself you know what you are doing...Ignored
DislikedIf there is one thing that this thread has officially concluded after ~85 pages it's that newbies don't have a strategy. Experienced fools stick to a strategy. Experienced professionals don't stick to a strategy.Ignored
Disliked{quote} Do you travel? Surviving is very different in the bush than it is in the City.Ignored
Disliked{quote} I consider them very similar. This is one of those debates that won't lead anywhere because it's entirely based on trying to make a point that can't be made. It's like saying cooking is/isn't rocket science. But, really, it is(physics and thermodynamics leading to chemical reactions on the molecular level) and it isn't(nothing mechanically engineered or applied principles of aviation). The distinction is arbitrary.Ignored
Disliked{quote}{quote} I can see that you do not yet know the difference between MM and leverage. Google that and come back and have a chat. {quote} Yeah, I told another trader that though a PM. These people cannot handle success. {quote} I like how you have solved the trend vs. range question.Ignored
Disliked{quote} It is indeed arbitrary, yet you speak with a seeming certainty. I was confused about that.Ignored
DislikedI think what also needs to be mentioned is that two seasoned traders (perhaps with vastly differing opinions on the nature of the markets) would, given the same chart, take similar trades. To give a bad example, I (who am *not* a seasoned trader) bought some oil this morning according to my strategy, and now, on a second look, I see that the Asian session range was quite narrow and that a strong breakout would likely to be expected. Indeed, for this set of trades, I could have used the breakout idea...Ignored
Disliked{quote} I only meant that 'surviving' is the only way to survive. Anything that can't survive doesn't survive and so anything that does survive has some capacity for survival until the time when it is unable to adapt. A strategy is only as good as it's adaptability/'robustness' until the strategy itself is rendered ineffective. Even purely mechanical systems can benefit heavily from a trader's discretion. I consider adaptation to be the only 'strategy' to be viable because of it's inherent morphological property. I may not have worded that precisely....Ignored
Disliked...Disliked{quote}{quote} I can see that you do not yet know the difference between MM and leverage. Google that and come back and have a chat. You are a know all that knows nothing. You have no idea about LTCM. Have no idea about MM. Just parrot to what you subscribe to and have no original idea or thought. Your posts shows lack of experience, lack of trading skills and just garbage. For example : It is indeed arbitrary, yet you speak with a seeming certainty. I was confused about that. You are one confused poster. Come up with an originalIgnoredIgnored
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. 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 when the trader has money at risk). I would challenge anybody to devise a system using coin-toss entries whose overall P/L can't be improved...Ignored
Disliked{quote} Your example is reversible: if 10 traders all use the same exit rules, then the one with the best entries will outperform the others. If it's possible to evaluate the efficacy of exits by testing them using fixed entries, then it's possible to evaluate the efficacy of entries by testing them using fixed exits.Ignored
Disliked{quote} If there was no advantage in analysis-based entries, institutional traders would surely have recognized this a long time ago, and would save themselves a lot of time and effort (marking up their charts and poring over economic reports) by instead simply tossing a coin to determine their entriesIgnored
Disliked{quote} Whereas, for example, Mark Douglas defines it thus: "An edge is nothing more than an indication of a higher probability of one thing happening over another" (source). Based on Mr Douglas' definition, an indication of subsequent directional or behavioral bias can be used as the basis for an edge. To whatever extent analysis prior to entry can be used to determine future bias, entries can provide an edge.Ignored
Disliked{quote} Let's agree to differ, if necessary. There are many different ways of seeing trading axiomsIgnored
Disliked{quote} ....and through the mist of orcish narrative there 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