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Ill use this thread to archive various articles and PDFs pertaining to Toby crabels ideas and books . Since a copy of "day trading with short term price patterns and opening range breakout" will run me between $375 and $625 on amazon Im not going to buy a copy anytime soon . Besides being pricy this book is mind numbingly hard to read and compute so I prefer articles , digests and snippets of useful info from that book and his interviews along with the writings of his diciples that I comprehend more easily .
I use what I consider a direct interpretation of ORBP in my trading but would like to hone my crabel skills a little as Ive found his way of doing things pretty great .
The first thing Ill plant here is this PDF and then Ill get a hold of part2 -
If anyone else has something that fits here please share but only stuff thats freely available online , thanks . Just articles and no personal ops if you dont mind .
Can you help answer these questions from other members on NexusFi?
I would like to say that his his book is floating around on the net. It contains some interesting ideas to develop further, but it's mostly common sense stuff. He did go on to run a fairly successful hedge fund, so I guess he got something right...
Thanks Rick and Lornz , See the quick summary . The book I mentioned is a mind@#*$&#(^!% to comprehend , at least for me . Get to the article from S&C and you'll find a more digestable piece of valuable info . I have a copy (a swag PDF) of the elusive book and like I said its painful to read as its mostly longhand backtests and handwritten charts .
My apologies, I missed that line in your first post. I agree that the book (at least in pdf form) is terribly hard to read. I read the article, and skimmed through the book, early in my trading career and it did spark some ideas. I think it's more relevant for building a framework of thinking that goes beyond merely looking at charts/indicators -- than it is a system one wishes to emulate. One just needs to keep digging!
"Our core trading philosophy is that strategies should capture enduring and explainable market participant behavior. We strongly believe in diversifying risk in every way possible including strategy type (i.e. momentum and mean-reversion), geographic region, sector and individual markets within a sector. We also think that risk is best controlled by taking a large number of small trades versus making a few large bets on a small number of trades".
Noun:
The theory of knowledge, esp. with regard to its methods, validity, and scope.
I like this comment about trading educators by steenbarger in the 9th paragraph .....
"And, of course, few educational efforts help traders train their "eye" to see the patterns from their conceptual integrations. That, in trading as in chess and medicine, is a process that takes years of devoted effort".
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
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