Found something special..share?

[spiderbyte87]

I think his use of the term secret was a little unfortunate. I don't much care if he has an edge or not, but there is no way to shut down all avenues of making profits (if that is what you are implying, I'm not sure, I might have taken this at face value rather too much), this is naturally impossible.

So long as there are participants in certain markets who do not care as much whether they win or lose (sovereigns, corporate hedging, central bank interventions) and/or are trading on different timeframes entirely there will always be institutionally illogical moves to profit from.

on the nose.. shouldn't have used the word secret, it carries too much meaning.

 

[sethmo]

I think his use of the term secret was a little unfortunate. I don't much care if he has an edge or not, but there is no way to shut down all avenues of making profits (if that is what you are implying, I'm not sure, I might have taken this at face value rather too much), this is naturally impossible.

So long as there are participants in certain markets who do not care as much whether they win or lose (sovereigns, corporate hedging, central bank interventions) and/or are trading on different timeframes entirely there will always be institutionally illogical moves to profit from.

To expand on your concept, there would be no edge/secret/way of making money if we ALL traded the exact same strategy on the exact same timeframe in the exact same way! Variety of personalities and styles in the very many combinations that exist will always create a gap somewhere in the market. Even if it turns out your "edge" is actually a self-fulfilling prophecy because a number of people are trading it profitably, who's to say it's a bad thing? The important thing here is results.

Actually, I think that's what it really boils down to...edge, no edge, secret, no secret, magic, stars, indicators, unicorns, ponies, mean reversion, lunar phase, tea bag reading, throwing darts...is, "Are you making money?"

 

[spiderbyte87]

Here's a small snippet: uncorrelated entries and correlated exits. The entry patterns are more numerous than the exits, and the exits are allowed to run because correlation on multiple timeframes is less common. I'll leave out the specifics, but I see it as a less random evolution of the "flip a coin" philosophy. I only look for good locations for entry without expecting much more than what would be obtained by flipping a coin, and focus more on the exit. Not sure if that makes sense, but I welcome any critical feedback.

 

[D70]

Here's a small snippet: uncorrelated entries and correlated exits. The entry patterns are more numerous than the exits, and the exits are allowed to run because correlation on multiple timeframes is less common. I'll leave out the specifics, but I see it as a less random evolution of the "flip a coin" philosophy. I only look for good locations for entry without expecting much more than what would be obtained by flipping a coin, and focus more on the exit. Not sure if that makes sense, but I welcome any critical feedback.

Uncorrelated entries?
You are entering only on spooz right? So I'm confused. Unless you are taking a scatter gun approach? In which case you mean "random entries" ?

 

[spiderbyte87]

Uncorrelated entries?
You are entering only on spooz right? So I'm confused. Unless you are taking a scatter gun approach? In which case you mean "random entries" ?

Haha I don't know what "spooz" or "scatter gun" are specifically, but I think I follow. My entries are definitely not random, just that I'll take a signal from any of three timeframes. My exits are based on the same (opposing) factors, but I require 2 or more correlated signals before I'm out.

Basically I worry more about good locations for entry rather than worrying about whether my entry is right or not. As a consequence, the exit is where I put most of my energy.

 

[D70]

Haha I don't know what "spooz" or "scatter gun" are specifically, but I think I follow. My entries are definitely not random, just that I'll take a signal from any of three timeframes. My exits are based on the same (opposing) factors, but I require 2 or more correlated signals before I'm out.

Basically I worry more about good locations for entry rather than worrying about whether my entry is right or not. As a consequence, the exit is where I put most of my energy.

Spooz is just what traders call the SPX or SPY or ES (or some other variant of the s&p 500).

Thanks for explaining entry a little further. Makes sense.

 

[spiderbyte87]

Spooz is just what traders call the SPX or SPY or ES (or some other variant of the s&p 500).

Thanks for explaining entry a little further. Makes sense.

crazy I've never heard that before.. thought it was some British slang or something. Cool, I learn something new every day.

and yes, I trade spooz

 

[aag100]

i base my entry/exit on patterns too and find if i stick rigidly awaiting for certain conditions then the trade usually is a winner more often than not.and when it is not,the patterns clearly dictate to get out with a smaller loss.now my only problem is me(human nature),not waiting patiantly enough for these conditions to be met and not cutting losses ie not entering when the patterns dictate and not cutting when they dictate,although i am getting better.thinking of looking into nlp to understand why the human mind is so fickle.
i would say my approach is 99% technical and 1% fundemental.usually i get out before news as there can be wild swings either way.
some will say im looking at lagging indicators.if there is any leading indicators which tell you where the price will be in the future id sure as hell like to know

 

[malaguti]

.if there is any leading indicators which tell you where the price will be in the future id sure as hell like to know

elliot waves, fibonacci extensions, cycles, P&F targets to name just a few

 

[aag100]

elliot waves, fibonacci extensions, cycles, P&F targets to name just a few

great if they are working out for you.
im not conversing with warren buffet am i?

 

[rsh01]

elliot waves, fibonacci extensions, cycles, P&F targets to name just a few

i can only assume this is tongue & cheek, as none of these tell you 'where price will be in the future'.

price behaviour is the only one i can think of.

 

[spiderbyte87]

i can only assume this is tongue & cheek, as none of these tell you 'where price will be in the future'.

price behaviour is the only one i can think of.

Get your pens out because here is my list of the most effective indicators in existance: fib, elliot wave, divergence, trend lines, S/R, darvas boxes, moving averages, oscillators, rolling dice, flipping coins, tea leaves, phases of the moon, "vibes".... did I miss any?

A casino doesn't "know the future", but it knows that it's going to win, so at the end of the day how is that different? If one can find an edge for their entry, no matter how, they have positive mathematical expectancy and they "know the future" in my estimation.

That being said my entry is important, but much less so than my exit and strict adherence to stoploss.

 

[malaguti]

i can only assume this is tongue & cheek, as none of these tell you 'where price will be in the future'.

price behaviour is the only one i can think of.

Price action tells you what is happening now, and in which direction it is likely to go, will it give you an indication of how far it will go'? Surely not, but there are tools you can use..

 

[aag100]

Get your pens out because here is my list of the most effective indicators in existance: fib, elliot wave, divergence, trend lines, S/R, darvas boxes, moving averages, oscillators, rolling dice, flipping coins, tea leaves, phases of the moon, "vibes".... did I miss any?

A casino doesn't "know the future", but it knows that it's going to win, so at the end of the day how is that different? If one can find an edge for their entry, no matter how, they have positive mathematical expectancy and they "know the future" in my estimation.

That being said my entry is important, but much less so than my exit and strict adherence to stoploss.

give as much thought to your entry as exit.stops are all well and good but sometimes there is just no need getting tied up in a trade that maybe you should never have got into in the first place.

 

[spiderbyte87]

give as much thought to your entry as exit.stops are all well and good but sometimes there is just no need getting tied up in a trade that maybe you should never have got into in the first place.

Sorry, I have to disagree with you on this. I would argue that entry should be the last thing on the list to think about because of the invariable variability of the market. The longer I trade the more I realize I'm only making a vague guess about which direction the market is going to go. I look for good locations to enter then I enter, period. If it doesn't go my way then I chalk it up to probability, not a problem with my system or my ability to trade.

The exit is where I make my money and also where I have the most control, so that is where I put the majority of my effort. If I make a bad exit, the only thing I have to blame is myself because my exit criteria is stupid simple to follow.

I love how threads inevitably veer off topic and into either strategy or philosophy.
In order to bring this thread back on topic I would appreciate future posters to address the issue in the original post. Thanks!

 

[Shakone]

Is there much left to talk about on that Spider? I thought you'd already made up your mind not to tell anyone about what you found.

 

[aag100]

Sorry, I have to disagree with you on this. I would argue that entry should be the last thing on the list to think about because of the invariable variability of the market. The longer I trade the more I realize I'm only making a vague guess about which direction the market is going to go. I look for good locations to enter then I enter, period. If it doesn't go my way then I chalk it up to probability, not a problem with my system or my ability to trade.

The exit is where I make my money and also where I have the most control, so that is where I put the majority of my effort. If I make a bad exit, the only thing I have to blame is myself because my exit criteria is stupid simple to follow.

I love how threads inevitably veer off topic and into either strategy or philosophy.
In order to bring this thread back on topic I would appreciate future posters to address the issue in the original post. Thanks!

i see.so you dont put much thought into your entry,you just 'look for good locations to enter'.
you must be doing this subconciously.thinking without knowing your thinking.
your way ahead of me.

 

[aag100]

Is there much left to talk about on that Spider? I thought you'd already made up your mind not to tell anyone about what you found.

he didnt find anything else on the net like it,he bought it?
has he got a sole licence on it or maybe theres other licencees on other planets

 

[spiderbyte87]

To answer all three of the previous posts..

@Shakone: Yes, I'm not revealing anything, but I would still like ideas as to how to "give back".

@aag100: I use indicator patterns for entry, but they only give "good locations" for entry. I don't control price, I control when I exit. If you can't grasp this, then I'm sorry but you have a long way to go.
In reference to the purchased indicators.. I use them, but not in the way they were originally intended. I have not found the pattern anywhere on the net. Thanks for the condecending tone though :S

 

[aag100]

To answer all three of the previous posts..

@Shakone: Yes, I'm not revealing anything, but I would still like ideas as to how to "give back".

@aag100: I use indicator patterns for entry, but they only give "good locations" for entry. I don't control price, I control when I exit. If you can't grasp this, then I'm sorry but you have a long way to go.
In reference to the purchased indicators.. I use them, but not in the way they were originally intended. I have not found the pattern anywhere on the net. Thanks for the condecending tone though :S

its all fun and games mate.dont take it too seriously.theres no definitive right or wrong answer,whatever works for you.i think i have a grasp of most of it.
ofcourse exits are what crystalise a loss or profit.up to that point its just a paper loss or profit,so im in agreement with you when you say its the exits that make you money(or loss).
what perhaps im not grasping is you take full ownership of your exits but not the entries.the only way i can rationalise that in my mind is if someone else pulls the trigger for the entry then hands it over to you to manage the exit.
please dont take this as an argument/condecension.just a little light hearted banter.helps me to think of points i wouldnt have thought.