The soul strives amain to live and work through all things. It would be the only fact. All things shall be added unto it power, pleasure, knowledge, beauty. The particular man aims to be somebody; to set up for himself; to truck and higgle for a private good; and, in particulars, to ride, that he may ride; to dress, that he may be dressed; to eat, that he may eat; and to govern, that he may be seen. Men seek to be great; they would have offices, wealth, power, and fame. They think that to be great is to possess one side of nature, -- the sweet, without the other side, -- the bitter.
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Well I'm a programmer by training. I started out learning programming by programming things I wanted myself on my pc, like an address book. Now when I'm working as a programmer/developer, I convert someone's requirements into an application that fulfills their needs. And in my trading career now, I am trying to do the same - turn a discretionary trading method into a set of rules. The difference here is that I'm not going to mechanise it or script it at this point - I just need to iron out the subjectivity and make sure all my rules are objective, regardless or not of whether they might need a Cray supercomputer to run if they were a program.
So that's the crux of it - turning subjectivity into objectivity. Subjectivity here means actually there is a rule somewhere in your head that is objective, it's just that you might not be aware of it. The challenge is to work it out. It can be quite a time-consuming process in some instances with some rules. You might have a subconscious feeling based on something you see that you are totally unaware of, which makes you bullish or bearish. To get that rule out of your subconscious and into your defined rules, you would have to catch it happening, and then really study the charts to work out what it might have been that triggered it.
And to make it more complicated, you not only have to define bullish / bearish, you also have to quantify its strength and its relationship with other signals that come at the same setup.
My actual trading attempts were badly affected by my programming-analysis mentality. Every time I saw something that looked like a statistic - e.g. this is the first counter-trend close in the trend - could it be a reversal? Or this is a failure to break the opening range - will it reverse across the range? etc. Every time I would waste time wondering if that was a statistic in my favour or not, without a hope of knowing because I hadn't done the research. Now one of the reasons I'm trying to write down every rule in my system is so that I can just ignore this stuff (or note it down for possible examination later).
I'm going off on a tangent - what I mean to say is, my first steps now to codify my method are simply to define how I define and possibly quantify a trend. And a range, because if I can't define a trend, then it must be a range, right? Or not maybe. I'm spending a lot of time staring at charts thinking, well I just don't know.
Hopefullly you're finding it easier. It'll be interesting to see what you post.
You can discover what your enemy fears most by observing the means he uses to frighten you.
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lets start with the bad ones. Next week I will break down each element on the screen and hopefully be exposed buy a few why this one but not this one type questions. Net -$89 bucks today. The second losing day in Jan and not very significant $ wise, but I freakin hate to lose.
well only one bad one to show from the collection because I want to eat.
The top chart is three min, the bottom a 610 tick. One said sell and I was in love with sell ES. The other chart was suggesting not so fast with your short side romance, I ignored that of course...not even sure if i looked at it.
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Hope you guys don't mind the shit example of me screwing it up put of the box...but the only way we learn is to live in our weakness. There will be plenty of "holy shit" nice ones to show but those don't teach me anything and they only create in you an exaggerated view of the wldman.
So next week I'll break it down by individual visual element. Please jump in with what you see or what you wonder.
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something that I suggested to @Devil Man this morning in the chat box. Maybe I've read this 100 times in the last 20 years, probably more. The essay, in my opinion, is a great metaphor for trading. I'll be reading it a couple times this weekend as it is expected to reach -18 degrees here by Monday.
I want to revitalize part of a method that I used for years. There are two outcomes that I seek from this.
First, I need to begin to learn the most basic C# coding so that at the least, I can converse with those proficient members that continue to contribute. There are a bunch of you but @Fat Tails and @Zondor are at the top of the list.
Second, I believe that I can improve my result by moving out to a longer time frame. Many days IB makes more money from my trades than I do. I'm pretty sure that on 6E the 144 tick chart and on ES the 610 tick chart my set ups prompt me to take many trades that are simply "noise". To be valid, a method must be robust...meaning that it works on all products and all time frames.
Last edited by wldman; February 8th, 2014 at 12:03 PM.
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