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The question of an edge

  #21 (permalink)

Geelong Victoria
 
 
Posts: 113 since Jan 2015
Thanks: 45 given, 90 received


geth03 View Post
i think i can call myself a full discretionary trader, which means the only tools i use for my trading is the Depth&Sales in futures trading and MarketMakerBox and Time&Sales in stocks trading. i watch the play between buyers and sellers and make my final decision on which side has control. Eg in a range we see buyer aggresiveness from support to resistance. then the price comes back to support bc buyers are loading up and dont want a breakout at this moment and sellers are not quite aggressive, price chopps back to support. finally buyers become more aggressive and breakout of the range. how do you want to backtest this? you can only gain this knowledge by watching the time&sales for monthes. how do you want to backtest fake orders on the order book. offer is pumping up and the same guy loading on the other side. no way to backtest it. you see it you join the party. if it goes in my favor i make 5 times more than it goes against me. there is no way you can backtest these things. i use highlowclose bar charts only to identify interesting price levels and thats it. and. to identify the market structure.


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In a nutshell, the art of successful trading is to define who is in charge and to then jump on board. as long as your winnings exceed your losses you survive. You don't need an arsenal of tools, just your eyes and your brain, so many people are baffled by the bullsh-t.

Cheers cJohn

"Simplicity is the ultimate sophistication" Leonardo Da Vinci. Now there was a man who knew a thing or two about creating masterpieces.

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