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I think originally "Holy Grail" was intended to mean some mechanical system that did not have losing trades. In other words you could perfectly predict each and every move in the market you are trading. So no losing trades. That I accept would be mythological.
But I think a more practical way of defining "Holy Grail" is more along the lines of Jack Schwager where you need to find a system that suits you.
So it's in that sense that I am using it here which doesn't mean it's the only way of defining it.
But it does mean you have to go search for it like Sir Galahad but instead of the "Holy Grail" you actually discover your "holy grail".
On second thoughts maybe "holy grail" is not a good name for this alternative but I would welcome suggestions along these lines.
Thanks
L
OK, I have to disagree; because my definition of "A Trade"
differs from almost every other Trader.
I advocate the concept of a "Meta Trade" which is a multi-position
(potentially long lasting) sequence of individual positions, where
each position benefits from Profit taking or being removed at a
reasonable Loss to "reduce exposure"... with a view toward
adding exposure again when conditions change.
This is nothing more than the concept of "exposure modulation"
where we increase or decrease our exposure (overall position
size) according to market conditions... and in my case that
happens "within the Meta Trade"...
So, to get to the point; my system DOES NOT HAVE "every
trade (i.e. position) profitable"; but it DOES HAVE every
"Meta Trade" (or "trading frame") resolving itself as profitable.
[EDIT] Well, I mean a very high percentage of the time....
Not every single position taken needs to go to profit; rather,
the Meta Trade is evaluated as Profitable or not.
It's fairly easy to have EVERY Meta Trade profitable; and I've
sort of side-stepped the (unnecessary) requirement that
EVERY Trade be profitable (in the "Holy Grail Quest") in favor
of a multi-position trading "frame" I call the Meta Trade.
(Heck, if Facebook can rename itself so the umbrella company
is "Meta", then I can introduce the concept of the Meta Trade;
and such a methodology does result, with a high probability,
in "every Meta Trade" being Net Profitable, costs accounted
for, of course)
Now, that should be Controversial; if anything is... LOL
My only problem with the term is that it means almost anything, and also almost nothing, and it depends on who's talking about it.... which is not terrible in itself, since everyone does have a sense of it.
There's been some discussion about what is the real "Holy Grail," which is why I pointed out the origin of the term -- in legends from the Middle Ages about Sir Lancelot and Sir Galahad and those guys, worked over by authors who liked a story. Given that context, it's sort of hard to worry about using the term "correctly."
But if all we mean is "something really good," then of course there are many good ways to trade. We can call them whatever we want to.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I actually was agreeing with you even though I didn't make myself clear as well. But before that I was alluding to history in the sense that there was The "Holy Grail" being searched for by everyone. Back then in the days of old when men where bold there was no multiple individual definition of the term.
The "Holy Grail" was a well defined term and completely unambiguous.
Considering how it has now being amended to be a more individual definition I was just wondering if a different wording should be use to accord with current use such as "personalized grail" to show the difference.
In any case as you most astutely pointed out, apart from the entertainment value it is an exercise in hair splitting.
There, that's what I wanted to say.
Holy Grail 'systems' do NOT exist: Holly Grail skills do, infrastructure advantages exist, information advantages exist, and experience to trade over multiple market states exist.
Paint by numbers trading and the search for infinite certainty mask the baseline insecurity that keeps trading a 'game' where 90% fail long run.
Holy grail for me, very FT71-esque. (should not be a surprise around here, if you see the same thing over and over from consistent traders)
- Mindset/Relationship with risk
- Stats/confluence
Active participation, and WAITING for your signals.
Thats it. I have made multiple systems work. Just pick one that suits you, with a style that suits you and your account. don't trade too big. For me, edge is working the same system, measuring it, and tweaking it to your own person relationship with what you are seeing.
