T/A lost the plot

[coyotte]

Will start a new Thread called "JB-System".

As it is not really related to the topic of this thread, which would probably be better for every one if it was just buried.

As to WOR -- as will be explained in the new thread, it is only a test of the system -- came across WOR as one of the highest % shorts.

The trade was with IG-Mkts/CFD.
per $1000 position = $1 brokerage + $1.75 pw Interest (long).

Cheers

 

[motorway]

All analysis wether set in specific Systems coding or used in Discretionary trading is subject to PROVE/DISPROVE.
Wether its Yogi and the likes combining Time, Price,or others who include Pattern and volume.EVERY form of analysis is governed by Prove disprove and application of the analysis.
If one of Yogi's time points is disproven simply move to the next.If one of Elliots wave counts is disproven move to the next,if an RSI over sold is disproven then move to the next. If a Fundamental valuation is disproved or altered due to X then move to the next---AND APPLY that analysis to the trade/s.

Discretionary does not mean arbitrary.
It can and should mean.. logical methodical a SYSTEMATIC check list that is ticked off...

Only recently did a computer beat one of the best players in a chess match.

If a Discretionary system is SYSTEMATIC Given enough computer resources
It could be coded... But The very best so called Discretionary systems maybe
have too many variables hence two many relationships to weight
That call for Judgement beyond what a reasonable amount of $$ in today's computer can achieve..

Big Blue (was that the name of the Computer) How much did it cost?
I bet the variables in the markets are even more convoluted

BUT... That does not mean that there is any real discretion in the rules and principles that should be applied..

eg crossing the Road

System..... At the traffic lights.. Green = walk
discretionary..... Away from the Traffic Lights

Now You can not cross in any way safely outside a time tested logical that can be broken down to a check list ..

The discretion is in a way illusionary..
However to apply principle to practice requires
Judgement and experience

So crossing the road becomes intuitive and safe
But to someone who always waits for the Green light
reckless guessing and gambling with life and limb..

That said the method does have to have a completely real logic
based on reliable feedback..

Shutting ones eyes and crossing at the same time as yesterday.
Or on the count of four have No logic to start with..

A method must be Scientific in approach..

And flexibility is important...

motorway

 

[tech/a]

Motorway.

I agree.
Neither I or I would say any here have that capability NOR the computer resources.
Nothing works as well as the computer in between the ears.
I and most have limitations.

So we are left with setting systematic plans that we can apply OR we trade with that between the ears.

In the end it then boils down to application of analysis,and if we find results better than those that we can test,through that application------.

This is the aim of all discretionary traders---to apply their analysis in a profitable way.No different to the Systems or systamatic trader.

 

[It's Snake Pliskin]

motorway,

Discretionary does not mean arbitrary.
It can and should mean.. logical methodical a SYSTEMATIC check list that is ticked off...

Agree.

I bet the variables in the markets are even more convoluted

Yes.

The discretion is in a way illusionary..
However to apply principle to practice requires
Judgement and experience

True.

So crossing the road becomes intuitive and safe
But to someone who always waits for the Green light
reckless guessing and gambling with life and limb..

I wonder if Michael D is like this (just joking)

That said the method does have to have a completely real logic
based on reliable feedback..

Those feedback loops.

Regardless of all the theory, there is one thing that will beat most. To those who do the hard work they will discover.

 

[coyotte]

Yogi:

Mag pm some vital info regarding Aget and McLaren.

With some suggestions on software -- seems there is an Ozz developer.

He's up there with the top!


Cheers

 

[It's Snake Pliskin]

Yogi :

Mag pm some vital info regarding Aget and McLaren.

With some suggestions on software -- seems there is an Ozz developer.
He's up there with the top!


Cheers

Coyotte,
Indeed there is and they have done some extensive research on the EW theory. It was quite interesting their results.

 

[wayneL]

Coyotte,
Indeed there is and they have done some extensive research on the EW theory. It was quite interesting their results.

Let's see.

One word, begins with E and ends with N?

If so, I know this company quite intimately.

 

[BBand]

Is trading that difficult?

You do not have to have a "good" win/loss ratio to make a good living from the market.

All you have to do is make the most of your winners - pyramid into them! and ride them until the trend changes. Consider moving up timeframes, if we have a successful trade using dailies, transfer the management to the weekly/monthly chart.

If you check your trading results, you may find that the 80/20 factor applies, why not capitalise on the 20% good trades and make them even better

The above is just a suggestion, it works for me. It may provide a topic to discuss with your fellow posters, if so - good

I will not be interrogated by you know who (or anyone else), I just wish to be helpful - try it out, you may be pleasantly surprised.

I've used this technique successfully for years

Happy trading
Peter

 

[tech/a]

You do not have to have a "good" win/loss ratio to make a good living from the market.

Absolutely right Peter.
There are only 3 ways to profit. (Other than arbitrage--for the Ducster).

(1) Win more often than you lose.--Generally short term trading.
(2) Have greater winning profits than losses.(Ive seen very profitable methods which are right 30% of the time) generally longer term methods.
(3) A combination of both.Generally for medium term trading methods.

You know who is quite happy to ruffle a few feathers.
When contributors come up with genuinely helpful and thought provoking content,it adds to the community.Thats my aim.
As I am quizzed from time to time,so to shall I quiz. Interrogation---Where were you around the time of post 26?---clearly a perception.

Every poster is entitled to their opinion and every poster is entitled to question that opinion.Its everyones right to chose whether to post or not to post,as has been clearly shown by members of this forum.

Clearly those with little to add become personal.