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Very simple ES strategy that seems to work


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Very simple ES strategy that seems to work

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  #101 (permalink)
 marketvoyager 
Florida
 
Experience: Beginner
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JonnyBoy View Post
This entire thread is a train wreck @marketvoyager and has gone from bad to worse.

You are totally and utterly taking the piss out of every trader that has bothered to contribute their valuable time to this thread. I have no idea what your motive is. You are either completely and utterly clueless about trading or you are some guy sitting in a basement at their computer concocting as much trading bull$hit you can come up with for fun, and throwing it into a post. You just don't make any sense at all.

The only solution for you is to quit now and save the pain ahead.

Ok, sorry

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  #102 (permalink)
 cogito 
Washington DC
 
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marketvoyager View Post
Other than getting screen time, what can I read or watch to learn about this fundamental question?

You got a point there. Go ahead and do live trading to get first-hand experience, but keep it small. Just keep in mind that 90% of the new traders blow their accounts.

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  #103 (permalink)
 marketvoyager 
Florida
 
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I will not make any more posts here in a while, I know I am bothering most people here and I don't need all the negativity. I got long term painful health problems, I need to get better, and trading is not the solution to seek help. So, I am sorry for bothering so many, I hope you will understand.

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  #104 (permalink)
 JonnyBoy 
Market Wizard
Montreal, Quebec
 
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marketvoyager View Post
I will not make any more posts here in a while, I know I am bothering most people here and I don't need all the negativity. I got long term painful health problems, I need to get better, and trading is not the solution to seek help. So, I am sorry for bothering so many, I hope you will understand.

@marketvoyager - I wish you well. It is clear that you are not in a fit state to even think about trading, let alone actively participate.

Your decision is wise not to use trading as a crux.

I hope you get healthy soon.

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  #105 (permalink)
 tr8d3r 
Sydney+Australia
 
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marketvoyager View Post
Can you recommend a journal of a trader that trades the ES, and is heavy on volume profile, volume ladder, and price action, and that is consistent with experience? I think the one you recommended have methods based on sma's and some trade euro and forex.


@marketvoyager: Let me answer your question by asking you a question: what exactly you are trying to achieve with journal? Are you looking for some kind of a system or method that is going to make you money or make you to pass combine? if that's the case why don't you just joining some trading chat pay $450 a months and rely on someone else's skill to archive your outcome?

You need to be realistic with your expectation. So many traders already told you that method takes only 10% and psychology is 90%. Did you read Chipps1983 Journal? What did you learn from that journal?? Did you learn how be discipline? Did you learn how follow your plan and stick to it no matter what? Bobwest asked you so many times what is your trading plan? what trades do you take and why? Back to Chipp1983 did you that right at the begging of his thread you mention it is a system he found on the internet. What did it tell you when you saw that he pass combine???

Now the answer to your question. Each journal is carry something very special. If you didn't gain any knowledge from Chipps1983 journal I don't think other journals will help either. Keep in mind One journal can't cover every single aspect you listed, because trader who runs that journal running it base on his understanding of the market. He is developing the method based on the vision of the market.
I would understand you if you seeking for the information you can absorb and it is not necessary the books you have or journals you read will do the job. This is why I call it a puzzle and ahha moment because you can read exactly the same information from 5 different sources and one source will click in your head and will make sense to you only. When other 4 won't.

I think it is time for you to stop looking for wholly grail and forget about your combine. Market was there for hundreds of years and it still will be there.
It is surprising me that you still didn't realised that when you are referring to tradable product it is not relevant at all. Just think about it for a second. The key to learn how to read chart and price action. Take that Euro Chat and remove Euro and place ES on the chart and here it goes you've got ES chart. Can you read it though???

Your best option is go to Search box and type you want to learn there you will get plenty of info. Watch every single seminar FutureTrader71 as well.

I hope it helps you but most likely going to ignore this post as the one's above it.

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  #106 (permalink)
 justrandom 
Batavia NY
 
 
Posts: 31 since Nov 2015

I think a good rule is to not use an indicator if you don't know how to calculate the numbers it is spitting out yourself.
You can't judge the strength, weakness, assumptions, or ramifications of a purely black box.

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  #107 (permalink)
 phantomtrader 
Reno, Nevada
 
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I just want to point out to the OP that a good trader is a good researcher. One of the first things you learn in the lab is that 99% of what you do will go into "file 13". You'll also learn that it's just as important to know what doesn't work as it is to know what does work.

Throughout this thread there's one thing you haven't delved into - and that's a well planned method of learning the market. Yes, I saw your post on your setups, etc. But that's not learning the market. One of the fundamental tools that all scientists learn and use is Gaussian distribution i.e. the Bell curve. In trading, that's Market Profile. MP is not a system but it is systematic - there is a difference. It's critical to understand it even if you don't use it all the time.

The footprint chart is also a key learning tool to know how price moves in real time for your instrument - and they do move differently regardless what you have been told - different volumes, different rate of change, different players too. Price action can't be seen on a bar chart - you have to absorb the numbers in real time and the only way to do that is to watch the bid/ask/volume/delta until you're dizzy.

Indicators are nice and can be useful. But remember that an oscillator is an oscillator and most are mathematically redundant. An oscillator cannot print without a price - and what comes first? The price of course. That's why oscillators are considered "late". But what's more important is that you open up the codes and read them - regardless whether you are a programmer or not. Understand some of the math behind an EMA or a stochastic (in fact, look up the word "stochastic" and find out what it really is).

Here's an excerpt from an article from American Scientist with the link.

"Graduate students will inevitably encounter failed experiments, failed teachable moments in the classroom, and time spent on research that never gets funded or never comes to fruition. Wilson counsels patience: “A strong work ethic is absolutely essential. There must be an ability to pass long hours in study and research with pleasure even though some of the effort will inevitably lead to dead ends.” Time that is seemingly wasted may later prove to have been well spent. Wilson asserts that the process of exploring and gaining intimacy with one’s studies—even the ones that don’t go as planned—is essential to the creative process of a scientist."

What Makes a Good Scientist? » American Scientist

Put yourself in the mindset of a researcher - that comes with hundreds, even thousands of hours of screen time.

Unfortunately, there's no objective curriculum for new traders which is unfortunate. You're really on your own. That said, you have a world of information right on this board as well as other places.

Best advice: Dive in now 150% or give it up. The learning curve is too steep and too expensive.

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  #108 (permalink)
 Big Mike 
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phantomtrader View Post
I just want to point out to the OP that a good trader is a good researcher.

He has continually chased the dangling carrot, with blinders on to any and everything else. He's not learning anything unfortunately.

His latest idea was to get a prop firm to train him and fund him.

If he is "average", he's probably done by now and given up and moved on. Which in honesty, is the best possible scenario, most likely.

People have a very hard time accepting that very few have what it takes to be a good trader. I don't take it personally that I can't play ball and have no hope of ever doing so, so why do people take it so hard when you tell them they don't have what it takes to trade?

Mike

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  #109 (permalink)
 phantomtrader 
Reno, Nevada
 
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Big Mike View Post
He has continually chased the dangling carrot, with blinders on to any and everything else. He's not learning anything unfortunately.

His latest idea was to get a prop firm to train him and fund him.

If he is "average", he's probably done by now and given up and moved on. Which in honesty, is the best possible scenario, most likely.

People have a very hard time accepting that very few have what it takes to be a good trader. I don't take it personally that I can't play ball and have no hope of ever doing so, so why do people take it so hard when you tell them they don't have what it takes to trade?

Mike

All very true - recognizing where you fit or don't fit is not failure. It's just honesty with one's self.
In any case, I wish him/her well.

You've developed an invaluable tool for traders with this website. It takes a lot of effort to keep a project like this going and I certainly have benefited from it. Thanks.

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  #110 (permalink)
 Leon of Pizza 
St. Louis
 
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marketvoyager View Post
If [a strategy works]...many people would follow, eventually cutting the strategy's profit.

This is one of the false myths about trading, imo. Especially when it involves secrecy. It doesn't pass the logic test for me. First, if its working, then a lot of other participants are already using it or - more likely, a combination of different tactics that yield the same read. That's why its working. Second, if its working, why would it attract participants to the other side? The only possible thesis for it to fail after its discovered is that it becomes overwhelmed by weak-handed participants and the price action devolves into chop, but who's to say that it wouldn't attract strong-handed traders and the pullbacks are absorbed? I want EVERYONE to trade like me, so that they will carry me along.

I also think the concept of edge is misunderstood and overemphasized. Again, my opinion and I would welcome a challenge to either of these comments. The characteristics of an edge are that its razor thin, and its fleeting (adapting Hippocrates' view of opportunity). With that said, my belief that I have an edge is essential to my psychological well-being, but I know my edge is just "ten hairs away" from meaningless BS.

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  #111 (permalink)
 geozoom 
toronto/Canada
 
Experience: Intermediate
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There are plenty of resources on this site to help you get on your way. Watch the webinars and see what style is suitable for you. The fact that you made the effort to try out one method is a good start. Trial and error. Each failure may bring you closer to success or you may realize that trading is not for you.

Hope you get better.

Happy new year to everyone and Best of luck in 2016!

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