Millionaire in 10 weeks & Conversation with broker | Psychology and Money Management - futures trading strategies, market news, trading charts and platforms

Psychology and Money Management

This forum is where successful traders spend most of their time and where struggling traders never visit. The psychology and money management forum is where you learn to become a profitable day trader


Millionaire in 10 weeks & Conversation with broker

  #178 (permalink)

Market Wizard
Birmingham UK
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: TST/Rithmic
Favorite Futures: YM/Gold
ratfink's Avatar
Posts: 3,651 since Dec 2012
Thanks: 17,414 given, 8,376 received

MerlinWorld View Post
Yup DEFINITELY those Double Bottoms/Tops Entry need to be consider later on in this backtest when the indicator will be programmed in C#.

Every single trend is nothing more than a series of broken double tops or double bottoms. In a historical chart you only see the ones that get left behind, not the ones that got destroyed, which is one of the many, many reasons why pretty charts are so alluring.

In real time at the right hand edge neither you, your indicator, God, the gods, me or my cat know whether you are shorting/buying a dream entry or about to get run over by a breakout bus. Only when you grasp this simple point will you understand just how limited this kind of stuff is, to say nothing of any channel based trend follower in choppy or fractal shift conditions, with or without squared MA's and fixed point size nonsense.

Best of luck.

Travel Well
Visit my futures io Trade Journal
The following 7 users say Thank You to ratfink for this post: