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Wow, Nun agreeing with Tech on something? Whats the world coming to. 
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Advice on short term trading approach
- Thread starter chesl73
- Start date
My chart means squat because I haven't explained - yet - the trading system that gave those buy signals.
And I didn't fit whatever suited best after the fact. I ran a scan to find those setups - the same scan I run every morning. The scan picked those setups as they occurred, not after the event.
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the thing is .......... one can fit ANY trading system to any chart way after the fact .
thats my only point
if your system works and all those entrys were presented to you in real time , well done and it would be a great system
live and hindsight indicators are two different things
happy to listen to your explanations of your system , just im not a great listener to things that fit later . i like things that fit when im looking to actually trade it
cheers
were you ever going to explain it?
or are we just all gonna upload 'trades that went our way' and confuse this newcomer.
ego boost or are you intentionally trying to waste our time.
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i do not think this is the case at all
i think he just showing timmy that some of the methods timmy discarded may work for him
tech/a
No Ordinary Duck
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Yes, I fully intended to explain the system and I still do.
You're on the wrong track in thinking I'm looking for an ego boost. I had no intention of even revealing that I'm in this trade. I did so only in response to Tech implying that I found those setups with the benefit of hindsight.
After 15 years or so in the trading game, I assure you I'm long past the stage of needing to boost my ego or prove myself to others by disclosing my trades.
A 'lone wolf' approach to trading works best for me. I rarely talk about trades I'm in, trades I intend to enter, or trades I've completed - no matter how profitable they were.
If you think I'm intentionally trying to waste your time, that's up to you. You're pretty good at jumping to conclusions, all of which have been wrong so far.
Don't read my posts if that's how you feel.
the suspense is killing me..
i look foward to hearing it, ... that is your advice on short term trading.
wayneL
VIVA LA LIBERTAD, CARAJO!
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Guys,
Check Bunyip' record of posting on ASF, He's posted plenty of trades real time and ain't no hindsight tosser trader.
I didn't see his post above as anything but leading into a discussion on a method.
Let's cut him some slack eh?
The criticism from at least one poster is a tad ironic.
Check Bunyip' record of posting on ASF, He's posted plenty of trades real time and ain't no hindsight tosser trader.
I didn't see his post above as anything but leading into a discussion on a method.
Let's cut him some slack eh?
The criticism from at least one poster is a tad ironic.
My contribution to this thread;
-know/pick your timeframe
ie. no point settings a stop at 4-5[ATR] if you're only planning to be in the stock for < 2weeks
-co-ordinate your trades with the 'Bigger Picture'
ie. dont be oblivious to the movements of the underlying index [ ASX 200 ]
+ experiment... best learning tool is going live [doesnt mean blow up your account though]
-know/pick your timeframe
ie. no point settings a stop at 4-5[ATR] if you're only planning to be in the stock for < 2weeks
-co-ordinate your trades with the 'Bigger Picture'
ie. dont be oblivious to the movements of the underlying index [ ASX 200 ]
+ experiment... best learning tool is going live [doesnt mean blow up your account though]
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i found my comments fair
in the situation they were posted ini have read some of bunyips posts hence the use of respect and manners and personally looking forward to hearing his trading methods when he has the time
Thanks Wayne. And you're right....my original post was intended to lead to discussion of a method that's worked well for me for many years.
That discussion may still eventuate - unless the criticism continues and I get sick of it and just walk away without further comment.
The reason I post very little on this forum is because of the number or ignoramuses who try to tear you down with ill-informed criticism and hasty conclusions when your intention was simply to share something of value.
Empty vessels always make the most sound.
My original post was directed to Timmy. No reply from him yet - maybe he hasn't seen my post - before I disclose the method I really would be interested in hearing his views in regard to the buy signals I've shown on my chart.
Timmy
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Mornin' all.
Saw your post before I went to bed Bunyip and thought you must have been being rhetorical ... blue arrows do not a 'system' make, and all ...
I would like to keep this thread on track, so any comments anyone, including yourself, has in response to the opening poster's questions would be good.
all criticism is intended to be constructive, never harsh. Just trying to get some discussion happening....
hindsight trades... pfft, who cares - just hoping to learn something new...
.. still waiting
Julia
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Why just in this range?
I would also ask why Tech suggested just 80% with <5:1 R:R? I'm an equal opportunist: I don't care whether it has a 30% chance or a 80% chance as long as I'm getting good odds on the trade. Can a beginner accurately identify a situation with an 80% probability? How many good 50% opportunities do they pass on waiting for this high probability event?
im guessing kam thinks;
sub 0.50, the spread eats into commission
too much volitility
post 5.00
too little volitility
wayneL
VIVA LA LIBERTAD, CARAJO!
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Agreed. Bottom line = Expectancy x frequency.
**Skeptical of 80% probability directional trades anyway. Holy crap, if someone has 80% probs with positive risk:reward.... Jesus, mortgage the house and retire rich to the Bahamas in 12 months.
Timmy,
You mentioned earlier to read master the markets. I am currently reading through a list of trading books. Just wondering if this book should definitely be part of that list. Is the book fairly advanced or good for a novie with some trading experience to grasp? You rate highly i presume?
You mentioned earlier to read master the markets. I am currently reading through a list of trading books. Just wondering if this book should definitely be part of that list. Is the book fairly advanced or good for a novie with some trading experience to grasp? You rate highly i presume?
Timmy
white swans need love too
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Aramz - if you have a bit of experience then it should be useful to read. It is not the be-all, just a good starting point for understanding price and volume movement. The 'smart money' references can get a bit tedious, bit conspiratorial.
Williams has written an earlier book "Undiscovered Secrets of the Market" (or something like that), that I have seen spoken of even more highly. It is around too on sites like Rapidshare etc.
Once you have read the book then use it as a base to build experience, it really is a starting point - have a look at how the ideas are put into practice (plenty of VSA users on ASF) and explore Wyckoff further with Motorway's posts.
Hope this helps.
