Dump it Here

[rcw1]

I have to agree with @DrBourse
In the world of trading, knowledge is everything. As traders, we must constantly seek to expand our knowledge & understanding of the markets, & the factors that influence them. However, it is important to recognise that even with a wealth of knowledge & experience, trading is not an exact science. Technical Analysis, & system trading can help us develop a better understanding of market trends allowing us to make more informed trading decisions. However, we should also remember that knowledge alone is not enough to guarantee success in trading. Risk management, emotional discipline, & a sound trading plan are also essential elements of successful trading.

Even the most experienced traders can face losses
At this time, it's important to acknowledge that the markets can be unpredictable & subject to unexpected events so it's essential to have a plan in place for managing risk & minimising potential losses. While knowledge is crucial in the world of trading, it's not a guarantee of success. As traders, we should continuously expand our knowledge & skills. Technical analysis, for example, can be a valuable tool for traders, but it has its limitations so it's important to approach technical analysis with a critical eye & consider its limitations, such as the fact that it is based on historical data & may not always accurately predict future market movements.

Skate.

Ahhhhh the Dr Bourse.
For mine, the best exponent of the TA construct, that rcw1 has witnessed. Don't tell him that rcw1 said that Skate otherwise he will get a big head ha ha ha ha ha. Caught rcw1 on a weak moment ha ha ha

Should listen to the lad more ... ?

Kind regards
rcw1

 

[DrBourse]

Grrrrrrrrrrrrrrrrrrrrrrrr

 

[Skate]

The expectations of system trading are high
Trading can be challenging because most don't understand that you're competing against experienced traders such as @DrBourse & others who have access to more information & resources than you & me. To succeed, your top priority should be to focus on survival by limiting losses. Your primary goal is to learn how to stay in the game, which is your most crucial & important job. By staying in the game, you give yourself the opportunity to gain experience, improve your skills, & eventually become a successful trader.

Many traders fail to realise
That we're competing against professionals who have devoted their entire lives to this field. These professionals have access to superior skills & tools that most of us cannot match. As a result, some new traders become disillusioned & disappointed when they experience setbacks early on. However, it's important to understand that circulating bad positions & seeking better ones takes time, especially in trend trading where the average win rate is low. Therefore, it's essential to have realistic expectations & a long-term outlook when it comes to system trading.

Skate.

 

[rcw1]

The expectations of system trading are high
Trading can be challenging because most don't understand that you're competing against experienced traders such as @DrBourse & others who have access to more information & resources than you & me. To succeed, your top priority should be to focus on survival by limiting losses. Your primary goal is to learn how to stay in the game, which is your most crucial & important job. By staying in the game, you give yourself the opportunity to gain experience, improve your skills, & eventually become a successful trader.

Many traders fail to realise
That we're competing against professionals who have devoted their entire lives to this field. These professionals have access to superior skills & tools that most of us cannot match. As a result, some new traders become disillusioned & disappointed when they experience setbacks early on. However, it's important to understand that circulating bad positions & seeking better ones takes time, especially in trend trading where the average win rate is low. Therefore, it's essential to have realistic expectations & a long-term outlook when it comes to system trading.

Skate.

and or alternatively go to the dark side and get a fund to choose stocks and manage... on their behalf, the power of the almighty $$$ in buying power...

Kind regards
rcw1

 

[Skate]

alternatively go to the dark side and get a fund to choose stocks and manage

@rcw1, the business model of a managed Superfund is to keep you fully invested, with returns being of secondary importance.

Skate.

 

[DrBourse]

Ahhhhh the Dr Bourse.
For mine, the best exponent of the TA construct, that rcw1 has witnessed. Don't tell him that rcw1 said that Skate otherwise he will get a big head ha ha ha ha ha. Caught rcw1 on a weak moment ha ha ha

Should listen to the lad more ... ?

Kind regards
rcw1

OK Mr rcw1 - Wat I need from you, Right Now or within the next 10 minutes, is a detailed explanation, telling everybody exactly wat information each of the Indicators in the Chart Below is giving us,.... AND I need you to tell us Exactly where the XAUUSD Price will be on 17/4/23 @ Exactly 11.04am EST.....

I need to see that all the years of training you've been given has actually sunk in.....

Respectfully...
DrB...

 

[DrBourse]

Sorry bout that Skate - This is really BOORING cause we are not trading - had to do sumthin Stoopid just to break the Monotony - rcw1 was the last post I saw B4 I lost the plot - Guess I'd better apologise to Mr rcw1 now

 

[Skate]

Sharing ideas
The "Dump it here" thread is a platform for me to share my successful trading ideas with others. While I do not disclose my specific code, I believe that discussing my strategies can be valuable to other traders. As a trader, I spend a significant amount of time researching & looking for inspiration to improve my trading. When I come across an article that aligns with my thinking, I want to share it with others.

One such article that has resonated with me is Tom Basso's approach to trading
There were two snippets of how he achieved profitable results. Basso's emphasis on exits & position sizing, along with his use of a random entry & a 3 times volatility trailing stop, shows the importance of risk management & the need to have a sound trading plan. I believe that sharing successful trading ideas can help other traders improve their trading & avoid common mistakes. While it is important to develop one's own trading style & strategy, learning from others can provide valuable insights & inspiration.



Skate.

 

[Skate]

Tom Basso's approach to trading
His system involves using a random entry into the market, which means that he doesn't try to predict the market but instead takes trades based on a set of rules. Once in a trade, he uses a 3 times volatility trailing stop, which means that he adjusts his stop-loss order based on the market's volatility. This allows him to capture as much profit as possible while minimizing his losses. Additionally, his money management strategy involves risking only 1% of his trading account on any single trade. This helps to protect his account from significant losses while allowing him to take advantage of profitable trading opportunities.

Tom Basso's strategy was able to achieve profitable results
His approach to trading, which emphasized exits & position sizing, proved to be highly effective in generating consistent profits. His system was able to make money 100% of the time, making it an inspiration to traders looking to achieve profitability in their own trading. However, it's important to note that while Basso's system worked for him, there is no guarantee that it will work for everyone.

Skate.

 

[Skate]

Trading involves a significant amount of risk
To achieve success in trading, it's important to focus on risk management & avoid taking unnecessary risks. This involves developing a sound trading plan that includes clearly defined entry & exit strategies, position sizing, & risk management techniques. It's also important to continue learning & refining your trading skills. Markets are constantly evolving, & it's essential to stay up-to-date on market trends & news that may impact your trading decisions.

Overall, Tom Basso's success highlights the importance of risk management and a sound trading plan
While there is no guarantee of success in trading, by approaching trading with a long-term perspective and focusing on risk management, traders can increase their chances of achieving profitable results.

Skate.

 

[Skate]

Tom Basso's approach to trading
Tom Basso is a well-known trader who is famous for his trend-following approach to trading. His trading system places significant emphasis on his exits & position sizing, which are two critical components of any trading system that we all tend to employ. Tom is also a rules-based trader. His primary consideration when trading is to protect his account from significant losses while allowing him to take advantage of profitable trading opportunities.

As Tom Basso's approach aligns with mine I want to talk about confirmation bias
Traders often fall prey to confirmation bias, a tendency to accept information that confirms their pre-existing beliefs & ignore information that contradicts them. This bias is dangerous because it leads traders to make decisions based on emotions & perceptions rather than sound judgment or being open to new trading ideas.

Skate.

 

[Skate]

With trading, there are so many common pitfalls that can lead to costly mistakes & losses
Many traders trade based on the thinnest of evidence & listen to everyone, without verifying the credibility or accuracy of the information they receive. To avoid confirmation bias, traders need to be aware of their emotions & perceptions & work to control them. It is crucial to develop a trading plan that is based on sound judgment & research, not just feelings or hunches.

In trading, it's essential to recognise the complexity of the market & to avoid oversimplification
As Confucius once said, "Real knowledge is to know the extent of one's ignorance." Traders need to acknowledge that they cannot know everything about the market & should always seek to expand their knowledge & understanding.

Skate.

 

[Skate]

One common pitfall when trading is confirmation bias
One way to overcome this is by recognising the role that confirmation bias plays in trading. Traders need to make a conscious effort to seek out information that challenges their existing beliefs & to approach trading with a critical mindset. Market sentiment & news events can all play a role in market movements & should also be taken into account.

Gather knowledge from various sources
Traders should aim to expand their knowledge by reading widely & learning from a variety of sources. Trading is a constantly evolving field, & by continually learning & expanding their knowledge, traders can stay ahead of the curve & enjoy more successful trading outcomes. While technical analysis can be a valuable tool for traders, it's important to note that it is not the only factor to consider when making trading decisions.

Skate.

 

[Skate]

The trading landscape in the 2022-2023 financial year
I have to admit it's been a challenging year so far, with many traders struggling to make consistent profits. Despite this, there have been brief periods of hope where system traders were able to make gains. However, it's important to acknowledge that success this year requires traders to stay on top of their game & remain grounded in their expectations.

The Aussie market is unpredictable
The Aussie market is famously unpredictable, & even during sustained upward trends, there are still inevitable setbacks & corrections that can catch traders off guard. In today's challenging trading environment, it's essential to stay informed & make informed decisions based on a variety of metrics & remain grounded in expectations.

42 weeks of trading
We have had 42 weeks of trading so far this financial year & there have been 21 up weeks & 21 down weeks for me personally & it appears we are in for another good day.

Skate.

 

[Skate]

We have had 42 weeks of trading so far this financial year & there have been 21 up weeks & 21 down weeks for me personally

Trading has been tough this year
The Australian market is known for its unpredictability, & even during sustained upward trends, traders must be prepared for inevitable setbacks, stagnant periods, & corrections that can catch them off-guard. The recent seven straight weeks of losses, although relatively small, can test the resolve of even the most experienced traders.


Skate.

 

[Skate]

With trading, perception is everything
It’s how we interpret what’s going on that matters. We can see a glass as half empty or half full. Both are correct. I'm just saying traders do not ‘see’ the same thing. By taking a more objective & analytical approach to market analysis, traders can have a more accurate perception of market conditions to make better-informed trading decisions.

Perception plays a significant role in trading
Traders often rely on their interpretation of market information to make trading decisions, & their perceptions can vary based on a variety of factors, such as their personal biases, experience, & market conditions. For example, two traders may look at the same chart & come to different conclusions. One trader may see a bullish trend, while the other sees a bearish trend. This difference in perception can lead to different trading decisions & outcomes.

Skate.

 

[rcw1]

Trading has been tough this year
The Australian market is known for its unpredictability, & even during sustained upward trends, traders must be prepared for inevitable setbacks, stagnant periods, & corrections that can catch them off-guard. The recent seven straight weeks of losses, although relatively small, can test the resolve of even the most experienced traders.

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Skate.

Hi @Skate
You are having a real chop at it. Good job Skate. Through the passage of time, there will be real success on the right side of the ledger, more often than not. Happy are those that believe and persevere.

Have a very nice weekend.

Kind regards
rcw1

 

[Skate]

Through the passage of time, there will be real success on the right side of the ledger

@rcw1, one advantage I have is that my trading strategies are mature strategies, meaning they have been trading for a long time. The snippet I posted today was for this financial year only. I believe the longer you trade the smarter you get. You only have to get hit hard a few times to know when to duck.

Experience is valuable
Experienced traders have the advantage of having seen various market conditions & have developed strategies that have proven to be successful over time. These strategies are often refined & adjusted based on past experiences, making them more robust & effective. However, it's important to note that simply having experience doesn't guarantee success in trading. It's essential to continually adapt to changing market conditions & be willing to learn & improve. Even the most successful traders can still encounter losses, & it's how they respond & adjust to these losses that can make all the difference.

Skate.

 

[rcw1]

@rcw1, one advantage I have is that my trading strategies are mature strategies, meaning they have been trading for a long time. The snippet I posted today was for this financial year only. I believe the longer you trade the smarter you get. You only have to get hit hard a few times to know when to duck.

Experience is valuable
Experienced traders have the advantage of having seen various market conditions & have developed strategies that have proven to be successful over time. These strategies are often refined & adjusted based on past experiences, making them more robust & effective. However, it's important to note that simply having experience doesn't guarantee success in trading. It's essential to continually adapt to changing market conditions & be willing to learn & improve. Even the most successful traders can still encounter losses, & it's how they respond & adjust to these losses that can make all the difference.

Skate.

Hey m8, rcw1 leads with head... need to learn to duck ha ha ha ha ha

Kind regards
rcw1

 

[Skate]

This strategy kicked into gear on the 1st of January 2023
The 200Kay strategy is one of my stand-alone strategies, a perfect strategy to demonstrate the "PercentageUp" timing filter that takes into account the magnitude of the increase rather than just the direction, compared to using an "SMA Index Filter" to enter a position.




Equity Curve
As a trader, it's crucial to recognise that sometimes the best move is to sit on the sidelines & wait for better opportunities. Knowing when to stop trading is an essential part of achieving success in the markets. By carefully assessing market conditions, you can make more informed decisions & avoid costly mistakes. This approach allows you to safeguard your account from significant losses while enabling the system to capitalise on profitable trading opportunities.



Skate.