1. No STOCK NEWS, TV, INTERNET, NOTHING!
2. Pick one instrument. ES is good or TF, or YM for example.
3. Use ONLY NT's "Basic Entry" for all info for that instrument.
4. For tracking info, pen and paper. That is it. You record whatever you want, but you can only get data from your brain and the Basic Entry Windows.
5. No cheating.
In the interest of good will and holiday spirit I seek to find out if I can produce profits in a fashion that was discussed earlier today . What I will do is enter the ES at the NY open with a hypothetical market order either long or short using the following variables....
Long - if my two teenage sons cooperate with one another and myself while getting themselves off to school .
Short - if they dont cooperate and irritate one another and/or myself .
Then exit with a hypothetical market order at 1600 EST .
If they are off from school for any reason - no trade .
This is in good fun and I hope Mike dont mind . I bet we all would like to see what happens . I bet that it wont wipe out an average account although I wont use a stop and will assume an unlimted account size .
The following 4 users say Thank You to Eric j for this post:
Theyre 14 and 16 and quite volatile but the way I figure if the guys that trade at NYSE live near where we are and some of the factors that affect them also affect my sons as far as commuting is concerned . We all live in the suburbs in long island and a lot of the dudes on wall street are on long island so if for example weather is a factor its a factor for all of us so theres some correlation there - I guess . If thats an edge then Ill take it .
The following user says Thank You to Eric j for this post:
Eric, this is a highly questionable approach, systemically speaking. Have you factored in 'the power of the subconscious mind' and incorporated it algorithmically into your long-short equation?
I mean: if you become convinced the market is going to go down, might you not subconsciously start to egg on your sons to provoke arguments at the breakfast table, or hide their backpacks so they run around in a frenzy blaming each other?
Need some sort of differential quantum calculation to apply to that sort of variable, otherwise it's just not good enough as a system!
Nope , they dont need any nudging to be a pain in the ass they do it naturally . But they are prone to cooperating totally on their own teenagers are like that totally upredictable . This experiment takes only one factor into consideration and one variable only . Its done that way to provide a stable condition to be met each day so as to provide consistency . If lack of consistency is what does most self directed traders in then this approach could provide a viable edge .