EASY-MONEY by cointoss

This is a discussion on EASY-MONEY by cointoss within the Trading Journals forums, part of the Reception category; Originally Posted by DionysusToast I think The Hare has already fessed up on what his to$$ing involves to an extent. ...

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Old Jul 21, 2012, 12:09pm   #22
 
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Re: EASY-MONEY by cointoss

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Originally Posted by DionysusToast View Post

I think The Hare has already fessed up on what his to$$ing involves to an extent. I think when he says random entry, a lot of people presume he has an equally unsophisticated exit strategy.
On the contrary, it is obvious that it cannot be. Do you think that if he picked the entry, and had a random exit, he'd find it much harder to mimic the success he's had with random entry and strategic exit? I do.
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Old Jul 21, 2012, 12:28pm   #23
 
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Re: EASY-MONEY by cointoss

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Originally Posted by DionysusToast View Post

If you change to a trailing stop, then what happens is you will make money if the market mostly trends. Although not quite that simple (you need to be aligned with the overall volatility), the trailing stop makes it a trend following system.
However, an edge is nevertheless present.
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Old Jul 21, 2012, 12:33pm   #24
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Re: EASY-MONEY by cointoss

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Originally Posted by Shakone View Post
Do you think that if he picked the entry, and had a random exit, he'd find it much harder to mimic the success he's had with random entry and strategic exit? I do.
I was going to make exactly that point. I've never actually found an entry that had an edge sufficiently large enough to work with a random exit.
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Old Jul 21, 2012, 12:50pm   #25
 
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Re: EASY-MONEY by cointoss

'random entry and trailing stop' is gonna be the biggest thing here since Dantes 'Pin bars'. I just know it.
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Old Jul 21, 2012, 12:54pm   #26
 
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Re: EASY-MONEY by cointoss

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Originally Posted by x4x View Post
If someone's PROFIT target is 10 ticks, then that includes the spread.

If their LOSS is 10 ticks then it includes the spread.

What's all this plus and minus the spread - if the spread wasn't included it wouldn't be 10 ticks profit, would it.
OK

10 ticks profit
10 ticks stop loss

spread 2 ticks.

To get to your stop, you need an 8 tick move
To get to your target you need a 12 tick move

Your win rate on a random entry system would be 40%

You'd lose the spread.
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I cannot see., however why we should expect to find a "system" which will work in the stock market; surely the possibilities of profits for the student justify the time and effort required to learn market interpretation.

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Old Jul 21, 2012, 12:57pm   #27
 
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Re: EASY-MONEY by cointoss

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Originally Posted by the hare View Post
I was going to make exactly that point. I've never actually found an entry that had an edge sufficiently large enough to work with a random exit.
Yeah - but imagine the excitement!
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I cannot see., however why we should expect to find a "system" which will work in the stock market; surely the possibilities of profits for the student justify the time and effort required to learn market interpretation.

Humphrey B Neill - 1931
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Old Jul 21, 2012, 3:36pm   #28
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Re: EASY-MONEY by cointoss

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Originally Posted by piggybridges View Post
'random entry and trailing stop' is gonna be the biggest thing here since Dantes 'Pin bars'. I just know it.
You have to get a hell of a lot more creative than a trailing stop

I wonder how much productive time is actually WASTED by people testing this kind of garbage. Someone should hand Van Tharp a bloody bill for the damage he's done. He can expect a hoof in the plums from me should our paths ever cross
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