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who is successful trader on BMT


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who is successful trader on BMT

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  #21 (permalink)
Geelong Victoria
 
 
Posts: 113 since Jan 2015
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Corto View Post
Wow, I thought everybody on this forum is into technical indicators. Donít ask me why. Maybe this is what I wanted to see.
Anyway, what you seem to do is real hard work. According to some, very often itís not the rule thatís flawed, itís you not sticking to the rule. For me the magnet of technical indicators is in the promise of being able to reduce it all to a black or white situation, so after that itís a matter of discipline.

Corto

All I can say is good luck with that, we have all tried it, I don't know anyone personally who has successfully achieved this type of black and white outcome. I've always found the markets to be unpredictable, so observe, adapt, overcome are the key words. Black and white rules only work when the behaviour is predictable. Consider this, if the market was so predictable it would already be where it is going, because the smart money would have already sent it there, so there would be no opportunity to profit from. Traders profit by taking on the risk, of the unknown, and then effectively managing that risk.
Cheers John

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  #22 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


Johno1 View Post
All I can say is good luck with that, we have all tried it, I don't know anyone personally who has successfully achieved this type of black and white outcome. I've always found the markets to be unpredictable, so observe, adapt, overcome are the key words. Black and white rules only work when the behaviour is predictable. Consider this, if the market was so predictable it would already be where it is going, because the smart money would have already sent it there, so there would be no opportunity to profit from. Traders profit by taking on the risk, of the unknown, and then effectively managing that risk.
Cheers John

hmmm.... well I am one who makes his equity trades using indicators. But I am selective in which ones I use and have used them in non-traditional ways and take a consensus of their bull/bear indications. I am open about how I use them and walk my talk in my journals.

There are many ways to skin the trading cat... Not saying my way is the only way...but it works for me.

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  #23 (permalink)
Geelong Victoria
 
 
Posts: 113 since Jan 2015
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Underexposed View Post
hmmm.... well I am one who makes his equity trades using indicators. But I am selective in which ones I use and have used them in non-traditional ways and take a consensus of their bull/bear indications. I am open about how I use them and walk my talk in my journals.

There are many ways to skin the trading cat... Not saying my way is the only way...but it works for me.

It's all good mate, just saying it as I have found it for me. We were discussing it within the context of Metastock.
Cheers John

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  #24 (permalink)
Portland, OR/USA
 
 
Posts: 15 since Jan 2015
Thanks: 1 given, 1 received

For me having the possibility to back test a strategy is really attractive and thatís the reason I went for MetaStock. Iíd rather spend effort in defining it and then let it guide me. I believe in statistics, although never liked the stuff in school. I have not defined anything yet, Iím still learning about programming stuff in MetaStock. A problem I seem to have right now is I get side tracked easily. While watching tutorials on how to run MetaStock I discover new ideas that steer me away from my purpose. This was the case with the Top Dog Training method by Barry Burns. It made sense to me and wanted to read more about it. Found a discussion on this forum with pros and cons about it. This made me join.
I thought I would find plenty of people using MetaStock , but this doesnít seem to be the case.

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  #25 (permalink)
Geelong Victoria
 
 
Posts: 113 since Jan 2015
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Corto View Post
For me having the possibility to back test a strategy is really attractive and thatís the reason I went for MetaStock. Iíd rather spend effort in defining it and then let it guide me. I believe in statistics, although never liked the stuff in school. I have not defined anything yet, Iím still learning about programming stuff in MetaStock. A problem I seem to have right now is I get side tracked easily. While watching tutorials on how to run MetaStock I discover new ideas that steer me away from my purpose. This was the case with the Top Dog Training method by Barry Burns. It made sense to me and wanted to read more about it. Found a discussion on this forum with pros and cons about it. This made me join.
I thought I would find plenty of people using MetaStock , but this doesnít seem to be the case.

There are so many other programs out there. If that is the direction you wished to go it is a pity you hadn't joined the forum earlier, did you get a trial period with Metastock, perhaps you could do a bit of research here before taking it up. There is vast amounts free programming info for the main programs people use such as Ninja, Tradestation ect, and lots of people happy to help you, unlike other forums this one works to manage the trolls.
Cheers John

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  #26 (permalink)
Prince George BC Canada
 
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Johno1 View Post
All I can say is good luck with that, we have all tried it, I don't know anyone personally who has successfully achieved this type of black and white outcome. I've always found the markets to be unpredictable, so observe, adapt, overcome are the key words. Black and white rules only work when the behaviour is predictable. Consider this, if the market was so predictable it would already be where it is going, because the smart money would have already sent it there, so there would be no opportunity to profit from. Traders profit by taking on the risk, of the unknown, and then effectively managing that risk.
Cheers John

Do you have black and white rules for managing the risk?

When you talk you are only repeating what you already know. When you listen you might learn something new
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  #27 (permalink)
Geelong Victoria
 
 
Posts: 113 since Jan 2015
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deaddog View Post
Do you have black and white rules for managing the risk?

I am a discretionary trader, the only rule of thumb I have is don't lose big. Everything else is based on my read of current and future percieved market action. So no I can't really provide a list of rules.
Cheers John

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  #28 (permalink)
Prince George BC Canada
 
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Johno1 View Post
I am a discretionary trader, the only rule of thumb I have is don't lose big. Everything else is based on my read of current and future percieved market action. So no I can't really provide a list of rules.
Cheers John

Wasn't looking for a list of rules to trade ; just wondering if your rules for managing risk were consistent.

When you talk you are only repeating what you already know. When you listen you might learn something new
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  #29 (permalink)
Geelong Victoria
 
 
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deaddog View Post
Wasn't looking for a list of rules to trade ; just wondering if your rules for managing risk were consistent.

No worries, it's all good mate.
Cheers John

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  #30 (permalink)
Legendary Market Wizard
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Markets are predictable. Not 100% predictable, but predicable enough to do better than a coin flip...much better.

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