Is Mr Charts for real?

[BeginnerJoe]

Why did you show us a statement with massive drawdowns? What were you thinking man? Demo accounts as well. Demo accounts doesn't bother me so much, but your lack of money management inability to realise that you don't know anything about trading other than the buy and sell button on your screen. I've gone from being annoyed by your constant crap to actually feeling sorry for you. I don't like seeing this. I hope you realise you can't trade like this going forward.

It's called strategy development. I stated the drawdown should be ignored initially, because the development for that part of the strategy hadn't begun. The demo stats were posted for The Hare's benefit as I was exchanging notes with him at the time. Then Mr Whabbit and his vendor chum decided they could hit me with it. But they couldn't really because I always entrench in a defendable position.

There's no need to feel sorry, I prefer you stay annoyed. You'd be easier to handle that way .

 

[brettus]

It's called strategy development. I stated the drawdown should be ignored initially, because the development for that part of the strategy hadn't begun. The demo stats were posted for The Hare's benefit as I was exchanging notes with him at the time. Then Mr Whabbit and his vendor chum decided they could hit me with it. But they couldn't really because I always entrench in a defendable position.

There's no need to feel sorry, I prefer you stay annoyed. You'd be easier to handle that way .

Have you seen the college fund thread in the journals section? The guy has a strategy of holding the position until it goes into profit. He made decent returns for 3 months, but then dropped 60% in one trade. I know you feel you are a scalper, but if you're just starting out i recommend you stick to daily charts and swing trading. It's easier to do this when you have a regular income. Scalping is for pros, considering the costs of spreads and commissions are so high with high frequency trading. I know everyone wants to make money everyday, but it's so hard to get to that point. If you want to make a regular income and trade on the side, why don't you arb sports bets or something, there's plenty of opportunities to make money. I've even heard of someone making 10k in 6 months just taking the bonuses from these companies. Swing Trading on daily charts is the way forward, not scalping.

 

[DionysusToast]

Also I realised I was a scalper and should not hold over night positions.
.

So this is scalping, is it?

 

[itmtrading]

Thanks for all....

 

[scose-no-doubt]

this has got to be a pazienza wind up

 

[the hare]

The demo stats were posted for The Hare's benefit as I was exchanging notes with him at the time. Then Mr Whabbit and his vendor chum decided they could hit me with it. But they couldn't really because I always entrench in a defendable position.

I think one of the problems that you are about to discover is that the functional decomposition style methodology that you seam to be employing for the strategy design doesnt work particularly well for trading system design.

Working on one element at a time seams like the right thing to do (and at the stage you are at, it probably is), but the results that you achieve are a result of a synergistic combination of all of the component parts of your sytem.

You'll often find that what you think doesnt work, suddenly works perfectly well in another environment, and the things that you thought did work, stop working when you change another element of the system, or market conditions change.

I hate to say it, but the metrics you posted indicate that you have not even taken the first step on the journey. Good luck with it anyway

 

[TheBramble]

BJ - You are not going to keep anyone on their toes.

You are like the boy who cried wolf. Remember him? An annoying little turd who got ignored when he eventually pointed out something actually wrong.

DT, I rarely use the ignore function on the basis that accidentally, even a total pr|ck might say something that takes me off down a useful tangent, but this clown is one of the few that has managed to say absolutely nothing of interest in over 1000 posts.

The bliss of seeing that he's posted and I don't have to read them anymore....

So, BJ, join the club. You're in good company with recent recruits roarson and joseff. They were just accidentally asinine. I'm sure you'll show them how to be completely clueless.

 

[MajorDutch]

I think one of the problems that you are about to discover is that the functional decomposition style methodology that you seam to be employing for the strategy design doesnt work particularly well for trading system design.

Working on one element at a time seams like the right thing to do (and at the stage you are at, it probably is), but the results that you achieve are a result of a synergistic combination of all of the component parts of your sytem.

You'll often find that what you think doesnt work, suddenly works perfectly well in another environment, and the things that you thought did work, stop working when you change another element of the system, or market conditions change.

I hate to say it, but the metrics you posted indicate that you have not even taken the first step on the journey. Good luck with it anyway

have to concur, 40% dd FFS. 10% dd would see many pro traders fired @ IBs.

 

[DionysusToast]

Joes problem is that he is taking directional positions but does not really know how to analyse the market he's trading.

So - he picks a direction - it goes against him to the value of 10% of his account and hopefully it eventually goes positive.

Now - I will show you another style of trading. I consider this a failed trade - it was taken about 20 mins ago.

The entry is precise, my target was 1142 but it failed to get there and I just got 7 ticks out of it.

The key to this trade was in analysing the market to figure out where the lowest risk entry point was but still have a chance of getting filled. Basically, you have to understand where the demand will be. You have to understand if a pullback is a pullback or a reversal. Then you need the balls to stand in front of the down move and buy. A lot of these trades don't get filled, the market doesn't make it down to where the demand is.

Now - this is NOT normal. It is not normal for me to get an entry and then have it not move against me a single tick. 2 or 3 ticks is the norm.

Still - the difference between the 2 styles is huge. In one case, you have no clue on direction or entry point, so you make massive risk for small rewards. In the other case, you take precise entries that often don't get filled but the risk is extremely small compared to the reward.

Like I say - it's not the most profitable trade in the world but I'd take these trades all day long...

 

[arabianights]

but, again, he is obviously on the wind up, so criticism is praise

 

[BeginnerJoe]

I think one of the problems that you are about to discover is that the functional decomposition style methodology that you seam to be employing for the strategy design doesnt work particularly well for trading system design.

It may not work for many people. But it works for me. I am an extremely experienced systems developer. So I know what I am doing. It will take time to work things out. 3 months is pretty short given that I am starting from scratch and wasted the first two months trying to see what others have. Once I determined they didn't have much, the direction for which way to go became clear.

 

[DionysusToast]

but, again, he is obviously on the wind up, so criticism is praise

I don't buy that the whole thing is a wind-up.

Nobody has that much free time...

 

[BeginnerJoe]

So this is scalping, is it?

For a vendor who has no interest in what I do, you follow my account surprisingly diligently. Perhaps you are looking to steal my strategy and sell it on ? Well the scalping is here. I wouldn't ordinarily talk with a vendor. But I thought it useful to set the record straight after your bad-mouthing my trades.

 

[the hare]

It may not work for many people. But it works for me. I am an extremely experienced systems developer.

The skills that strategy design requires are nothing like those required for systems analysis, and a million miles away from the types of skills you'd find in a typical programmer. Its a completely different ball game.

Its clearly NOT working for you, the numbers prove that

 

[DionysusToast]

Yes Joe - because it's hilarious.

Today you let a trade go offside to the tune of $6,755 - and perhaps more. You then went and took a profit of less than half that on the trade.

There is only one long term outcome of what you are doing. That is an account balance of zero.

I certainly hope none of the systems you designed are mission critical.

 

[barjon]

It may not work for many people. But it works for me. I am an extremely experienced systems developer. So I know what I am doing. It will take time to work things out. 3 months is pretty short given that I am starting from scratch and wasted the first two months trying to see what others have. Once I determined they didn't have much, the direction for which way to go became clear.

BJ

If the accounts you have posted reflect how you are trading then I think it's more fair to say that it works for you up to now. There are many threads on the boards where people have similarly "discovered" the truth of the ball-bouncing market and who have tried the same thing. Lo and behold, it works - until the one occasion that it doesn't which either wipes the account or, if you have at least some sort of desperation stop, writes off months of hard work.

'Course I dare say you know better, being a skilled system developer and all that. Trouble is, bookies just love a system punter - that's why casinos give away system books for free.

jon

 

[BeginnerJoe]

BJ

If the accounts you have posted reflect how you are trading then I think it's more fair to say that it works for you up to now. There are many threads on the boards where people have similarly "discovered" the truth of the ball-bouncing market and who have tried the same thing. Lo and behold, it works - until the one occasion that it doesn't which either wipes the account or, if you have at least some sort of desperation stop, writes off months of hard work.

'Course I dare say you know better, being a skilled system developer and all that. Trouble is, bookies just love a system punter - that's why casinos give away system books for free.

jon

Like the rest, you couldn't be bothered to start at the beginning of the story. But it doesn't matter. The strategy is still being developed and will take time to mature and to perfect. Writting off something you don't know much about is premature. As I will be here for a long time to come, not withstanding a ban, you will be able to observe steady progress being made. Effectly I am redering a system in full public view as a retort against all these clowns who like to claim they have something while not being able to back up their claims with a simple statement or equivalent.

 

[scose-no-doubt]

not withstanding a ban

oh the heavens would not be so cruel

 

[BeginnerJoe]

oh the heavens would not be so cruel

Don't you wish it ? I know many who do, and that's the frustrating part - for them. Other forums gave me free paid memberships just to keep me around as I generate tremendous interest and set the place on fire. So if I get banned here there are still ET and others I haven't been to. This place happened to be the first I clicked on a search result. I have no great attachment to it apart from some lulz.

 

[scose-no-doubt]

Then please leave.