Are you a full time self backed trader

[oildaytrader]

Everytime I catch a glimpse of ODT's post when someone quotes them, I am reminded why I have him on ignore.

Curiosity kills the cat o deignore O D T

 

[oildaytrader]

chit...I just spit out my soda all over the place. WTF?, amateurs. I'm laughing so hard i'm pyssing myself and in tears...
That line should be in the Joke of the Day thread.

Peter

Important lesson for you son.

If you trade 250 times a day, the market will hit you 70 times in day, but you will still make profits 180 times a day.There is no way a market can hit you 250 times a day unless you are Gecko.

 

[meanreversion]

re: Drawdowns - tell me about it

re: Golf - never read it but apparently a book called "golf is not a game of perfect" is very good for sports/trading psychology

P.S. maybe I should read between the lines lol

Wowzers. I just finished reading "Your 15th club" by Bob Rotella, who also wrote the book you mention. It's a good read, definitely many areas of crossover between golf and trading as far as the mind goes.

 

[meanreversion]

Important lesson for you son.

If you trade 250 times a day, the market will hit you 70 times in day, but you will still make profits 180 times a day.There is no way a market can hit you 250 times a day unless you are Gecko.

You're going to be the new medbs aren't you.

Still clueless after all this time, yet I'm sure it's only a question of when, not if, you announce you've discovered the Holy Grail.

How do I put someone on ignore?

 

[meanreversion]

ODT, can I give you some valuable advice, PLEASE just read this next bit

Trading is not ONLY about win rate (even though you think it is). It is about expectancy.

Bragging about your win rate is a bit like telling people how big your n-b is, even though you're still a v-rgin. Get it?

 

[MrGecko]

Wowzers. I just finished reading "Your 15th club" by Bob Rotella, who also wrote the book you mention. It's a good read, definitely many areas of crossover between golf and trading as far as the mind goes.

I think this is true of all sports and trading to be honest. A personal favourite of mine is "in pursuit of excellence" by Terry Orlick.

 

[oildaytrader]

ODT, can I give you some valuable advice, PLEASE just read this next bit

Trading is not ONLY about win rate (even though you think it is). It is about expectancy.

Bragging about your win rate is a bit like telling people how big your n-b is, even though you're still a v-rgin. Get it?

I am beyond that , firstly I use positive expectancy and second I use a hit rate combined with a intraday betting sequences(not just one sequence).It works very well for me.The betting sequence increments are used when the odds are in my favour.

 

[oildaytrader]

He also has a thread somewhere about doubling up after each loss like a martingale system, where he ends up trying to trade 60x his original lot size just to make a few pennies. Makes no sense.

Peter

You misunderstood, it was maximum 5x using 10 sequences.Starting 1 lot on 50 k account with 0.4 % risked ,and ending up with a maximum of 5 lots or 2 % risk.That is sounder than your own risk management.

 

[meanreversion]

You misunderstood, it was maximum 5x using 10 sequences.Starting 1 lot on 50 k account with 0.4 % risked ,and ending up with a maximum of 5 lots or 2 % risk.That is sounder than your own risk management.

Your childish and nonsensical ramblings might carry more weight if you were actually trading real money, little boy.

 

[oildaytrader]

Your childish and nonsensical ramblings might carry more weight if you were actually trading real money, little boy.

Just cause I tested a demo and showed you a demo tests, you have to assume I don''t trade real accounts.

I actually have 4 live accounts and am opening a fifth one.I soon will stop posting on message boards ,wll be far too busy earning earning serious dough to spend valuable energy posting.

AND Without any amateurish drawdowns.

 

[meanreversion]

I'm afraid the fact that you think drawdown is "amateurish" is proof that you've never traded real money.

 

[meanreversion]

Just cause I tested a demo and showed you a demo tests, you have to assume I don''t trade real accounts.

I actually have 4 live accounts and am opening a fifth one.I soon will stop posting on message boards ,wll be far too busy earning earning serious dough to spend valuable energy posting.

By your logic, this means the fact that you've been posting quite heavily since you joined t2w means that you weren't busy earning serious dough - in other words, you weren't trading real accounts.

You're a bit sad, aren't you?

 

[oildaytrader]

I'm afraid the fact that you think drawdown is "amateurish" is proof that you've never traded real money.

I have blown a few 4 ,5 and 6 figure live accounts in the past 10 years.

The point I am making if you are a mercenary discretionary trader , you will not have any material drawdowns.9 out of 10 days , you will make serious profits and one day ,you might give back the previous days profits , or just breakeven.

The markets are like an ocean ,swim every tide and twist and turn on every small opportunity. Occasionally the unexpected wave will knock you down , be prepared for the unexpected wave and ride on it's back in winning fashion.There are hundreds of twists and turns to be traded every day, be ready for them , anticipate them and act ahead of them.It is like a boxing match , get ready for all the punches thrown at you , and deliver the bigger blows to the opponent.There is only one winner , the champ who can duck and dive and deliver the blows.If your hit rate is good , increases your position sizes and your expectancy will give reward you.That's discretionary trading mercenary style.

Most of you are using trading systems /set ups etc, it is akin to a boxer using a punch bag with no opponent.I started using punch bags , now I am in the ring dishing it out to the market and taking it on the chin.The market can hit me a few times a day, I hit the market harder and more frequently.This is not fishing by sitting on the river bank, mercenary trading is swimming with the killer sharks.

 

[oildaytrader]

By your logic, this means the fact that you've been posting quite heavily since you joined t2w means that you weren't busy earning serious dough - in other words, you weren't trading real accounts.

I was trading live accounts until a month ago for day trading.

No I wasn't making serious money because I was developing automated systems and trying to trade manually with small amounts.I thought what worked on my automated systems would working manual trading in these market conditions.I had a little difficulty finding time frame and indicators and style of day trading to suit my personality.It was not working.So I went back on demo for manual trading, and I am now coming out of demo testing.

It is now working and I have had a profitable day every day for the last two weeks.Now I can make serious money on live everyday and any day.


NOTHING WRONG WITH GOING BACK ON DEMO , IF THINGS NEED TO IRONED OUT.

 

[wackypete2]

You misunderstood, it was maximum 5x using 10 sequences.Starting 1 lot on 50 k account with 0.4 % risked ,and ending up with a maximum of 5 lots or 2 % risk.That is sounder than your own risk management.

here's the picture you posted which very clearly showns trade 1 = 0.10 lots, trade 10 = 6.00 lots

http://www.trade2win.com/boards/att...rading-desk-top-spreadbetting-may-2010-v2.jpg

and my reply:

Re: Betting sequence for intra day trading

--------------------------------------------------------------------------------

On your 10th trade you are risking 60x your original trade amount in the series. HOLY COW, that is no way to trade, bet, or gamble. There are no guarantees, don't fool yourself.

Peter

LINK to Thread:
http://www.trade2win.com/boards/general-trading-chat/92924-betting-sequence-intra-day-trading.html


You don't even know what your are posting. You have way too many wires loose...

Peter

 

[arabianights]

Wow, another stupid fight caused by oildaytrader, who would have thunk it

 

[wackypete2]

Wow, another stupid fight caused by oildaytrader, who would have thunk it

hmmm...ok am I starting to sink down to his level? Fortunately it's still a long way down...I'll get off the elevator here

Peter

 

[meanreversion]

No I wasn't making serious money because I was developing automated systems and trying to trade manually with small amounts.I thought what worked on my automated systems would working manual trading in these market conditions.I had a little difficulty finding time frame and indicators and style of day trading to suit my personality.It was not working.

I suspect the reason your automated systems didn't work is because your data ran from 2003-2008 only. As such, the market conditions you tested were low volatility, and then you attempted to apply your systems in a high volatility environment.

 

[oildaytrader]

I suspect the reason your automated systems didn't work is because your data ran from 2003-2008 only. As such, the market conditions you tested were low volatility, and then you attempted to apply your systems in a high volatility environment.

They worked Okay in 2008 when volatility was high.I have already given you the response to your opinion.My view is not the same as yours.

If you think you are correct stick to it, I will stick to my view.

 

[meanreversion]

I have blown a few 4 ,5 and 6 figure live accounts in the past 10 years.

Hmmm let's see. So drawdown is "amateurish" (your words), so what does that make blowing a 6 figure live account?

Can you see how you continually contradict yourself? You are incapable of applying logic to what you say, with the result that you look like an idiot.

There's a saying "Better to keep your mouth shut and have people think you are a fool than to open it, and then remove any shread of doubt".