Hi FTSE beater
As a trader why do you even need to know details of another trader's strategy/statistics except possibly in the broadest sense.
Are you going to copy his strategy? Are you going to invest money with him?
You know that a strategy that works for him may very well not work for you.
Your own way is the only way
As a trader why do you even need to know details of another trader's strategy/statistics except possibly in the broadest sense.
Are you going to copy his strategy? Are you going to invest money with him?
You know that a strategy that works for him may very well not work for you.
Your own way is the only way
Oh ok then, I just thought it was a bit of fun trying to guess.
I'm obviously wrong. So back to trying to get other people to disclose their trading records and slagging off training courses then! Unless, anyone has any sensible trading ideas that is...
I'm obviously wrong. So back to trying to get other people to disclose their trading records and slagging off training courses then! Unless, anyone has any sensible trading ideas that is...
FTSE Beater
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Hi Zow
Mainly to share ideas, and to see if there is anyway my own trading can be improved or maybe even ways that I can improve theirs. Very very few strategies will work for me, but without opening my eyes to new ideas, I shield myself from ever improving
Mainly to share ideas, and to see if there is anyway my own trading can be improved or maybe even ways that I can improve theirs. Very very few strategies will work for me, but without opening my eyes to new ideas, I shield myself from ever improving
sidinuk said:
No please! No slagging off training courses and haven't we established that seeing another person's trading record is pointless?
But sensible trading ideas?
Are you looking for an inside stock tip?
Something deeply mundanely repeated? (Buy low, sell high - let your winner's run - cut your losses etc)
Something technically advanced? (I find that when the historic volatility matches the hi-low moving average, prime number setting, on a high tick density smoothed oscillator chart there is a good chance of a sell off as long as the slow stochastic doesn't contradict the RSI)
Or am I missing the question?
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ZOW, you've given the game away now!
Anyway, about other peoples ideas..... I agree with FTSE Beater. There is always something you can learn from someone else in this business. Whether you can use it, understand it, or take advantage of it is another matter. Just once in a while, you may come across something that hits you like a brick, you take it on board, and things improve. As you say, taking another person's ideas, per se, is going to be an unproductive and often costly diversion.
Anyway, about other peoples ideas..... I agree with FTSE Beater. There is always something you can learn from someone else in this business. Whether you can use it, understand it, or take advantage of it is another matter. Just once in a while, you may come across something that hits you like a brick, you take it on board, and things improve. As you say, taking another person's ideas, per se, is going to be an unproductive and often costly diversion.
I hope people realised i was being ironic (there isn't a smilie for irony is there?).
I can honestly say i have very little-to-no idea what even the individual terms in that sentence mean but it does sound good eh? And i have no interest in learning what they do mean.
As defined in the thread earlier I am a 'minimalist trader'!
i have no idea who Chris Manning is but don't think i'd bother with one of his seminars.
is it ok if I copy/paste this all into the thread?
regards
Hi Zow,
I like the sentiment of this post, it gives me something to aim for, so thanks zow.
I see from your post you trade futures Indeces.
I have traded many indeces on and off for some time now, and have always felt as though there was some connection between the markets but never took it further than just a thought.
Recently I have been introduced to intermarket relationships by another trader who trades with size like yourself.
Would be interested if you use any relationships in the Indeces that you trade.
cheers
I like the sentiment of this post, it gives me something to aim for, so thanks zow.
I see from your post you trade futures Indeces.
I have traded many indeces on and off for some time now, and have always felt as though there was some connection between the markets but never took it further than just a thought.
Recently I have been introduced to intermarket relationships by another trader who trades with size like yourself.
Would be interested if you use any relationships in the Indeces that you trade.
cheers
Hi Blash
Glad I can be of minor help to at least one person.
Sorry about the delay in replying.
Intermarket relationships - If you mean, for example, always keeping an eye on the dow & S&P if you are trading the FTSE then of course that is always useful information. But this really is only of practical use in the very short term.
You can also watch the interest rate markets, FX markets (Gold, Oil, weather, anything) for clues on what the FTSE may do, but a problem here is 'present relevance'. E.g. The falling pound will be blamed for the FTSE falling so you start to think there is a fast and hard relationship there, everybody is talking about the falling pound and ftse. But just a short time later the pound is still falling but the ftse has stabilised and is even climbing. Now suddenly everybody in the UK equity trading world suddenly seems to have forgotten about the pound and are concentrating on the next 'story'. Happens all the time, this moment rising price of gold is lifting ftse, next moment oil price is pushing ftse down - whatever. So if you are using 'intermarket relationships' in this way you always need to know what is the 'present relevant' story/market.
Actually trading the intermarket relationships e.g FTSE vs Dow (or even more dangerously e.g. FTSE vs Bund) - going short one vs long the other, COULD get dangerous because it leads you into a false sense of security - making you feel that your risk is much reduced when in fact depending on circumstances you could be doubling your risk. This is basically what LTCM did and they near brought the financial market world down when their spread trades went wrong. All their sophisticated statistical models (based on historic data of course - what other kind of data is there?) predicted that what happened would be vitrually impossible, yet sparked by the Russians' defaulting, it did happen.
Some people do v. successfully trade these types of spread, FTSE vs DOW, Bund vs Gilt etc but it takes a slightly different mind set than trading the FTSE/dow/bund outright. Each spread MUST be thought of as a position in it's own right and should be charted/analysed as such. (i've never been able to do it very successfully myself - prefer to be long/short one or the other).
Finally in practical terms there is the added transaction costs of trading these spreads i.e. doubling of commission and two lots of bid-offer spread.
Hope this has answered you question
regards
Glad I can be of minor help to at least one person.
Sorry about the delay in replying.
Intermarket relationships - If you mean, for example, always keeping an eye on the dow & S&P if you are trading the FTSE then of course that is always useful information. But this really is only of practical use in the very short term.
You can also watch the interest rate markets, FX markets (Gold, Oil, weather, anything) for clues on what the FTSE may do, but a problem here is 'present relevance'. E.g. The falling pound will be blamed for the FTSE falling so you start to think there is a fast and hard relationship there, everybody is talking about the falling pound and ftse. But just a short time later the pound is still falling but the ftse has stabilised and is even climbing. Now suddenly everybody in the UK equity trading world suddenly seems to have forgotten about the pound and are concentrating on the next 'story'. Happens all the time, this moment rising price of gold is lifting ftse, next moment oil price is pushing ftse down - whatever. So if you are using 'intermarket relationships' in this way you always need to know what is the 'present relevant' story/market.
Actually trading the intermarket relationships e.g FTSE vs Dow (or even more dangerously e.g. FTSE vs Bund) - going short one vs long the other, COULD get dangerous because it leads you into a false sense of security - making you feel that your risk is much reduced when in fact depending on circumstances you could be doubling your risk. This is basically what LTCM did and they near brought the financial market world down when their spread trades went wrong. All their sophisticated statistical models (based on historic data of course - what other kind of data is there?) predicted that what happened would be vitrually impossible, yet sparked by the Russians' defaulting, it did happen.
Some people do v. successfully trade these types of spread, FTSE vs DOW, Bund vs Gilt etc but it takes a slightly different mind set than trading the FTSE/dow/bund outright. Each spread MUST be thought of as a position in it's own right and should be charted/analysed as such. (i've never been able to do it very successfully myself - prefer to be long/short one or the other).
Finally in practical terms there is the added transaction costs of trading these spreads i.e. doubling of commission and two lots of bid-offer spread.
Hope this has answered you question
regards
Hi Zow,
Thanks,
I'm investigating purely technical intermarket relationships by watching the charts but only trading one of the pair.
After re-reading this post I have a few other points that maybe you could help with.
Maybe you could expand a little on scaling in 5 clips at a time.
I presume it means you buy/sell 5 contracts at a time at or near to a specific price?
You dont use any of the standard indicators in your trading so are you using chart patterns or just instictive trading from what you see
Also, which 9 months of the year do you trade, is it continuous or broken up over the year and why?
Cheers
Thanks,
I'm investigating purely technical intermarket relationships by watching the charts but only trading one of the pair.
After re-reading this post I have a few other points that maybe you could help with.
Maybe you could expand a little on scaling in 5 clips at a time.
I presume it means you buy/sell 5 contracts at a time at or near to a specific price?
You dont use any of the standard indicators in your trading so are you using chart patterns or just instictive trading from what you see
Also, which 9 months of the year do you trade, is it continuous or broken up over the year and why?
Cheers
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Morning Blash
The last thing to add about looking at those intermarket relationships (e.g looking at dow whilst trading ftse) is that the markets are often TOO closely related, everybody is looking at the same relationship, so there is not very much more info to be gleaned from that other market. But then on the other hand there are times when one market doesn't quite follow the other - is that an anomaly that could be a money making opportunity? or are there sound technical/fundamental reasons why that is happening and the markets will continue to diverge?
So basically, as with any method/stategy, it works fine until it doesn't!! The knack is knowing when it doesn't!
Scaling in/out of positions is a very simple term for a very simple process. It just means instead of picking one price for putting on/taking off your whole position you gradually do it in smaller portions at and around your target price. Obviously you can't do it if you trade 1 lot max, but for 2 or more I believe it is the only way.
I don't trade for any particular 9 months of the year. If something comes up I know I can just up and leave at very short notice. Some of my best hols have been spur of the moment.
One thing I would suggest though is to take a break/breather after you've had a very bad run in the markets AND also after you've had a very GOOD run. Just take a few days out, don't even look at the markets or paper trade. Always helps for me.
The last part of your question:
'You dont use any of the standard indicators in your trading so are you using chart patterns or just instictive trading from what you see' I will try and answer below but could get long-winded...
The last thing to add about looking at those intermarket relationships (e.g looking at dow whilst trading ftse) is that the markets are often TOO closely related, everybody is looking at the same relationship, so there is not very much more info to be gleaned from that other market. But then on the other hand there are times when one market doesn't quite follow the other - is that an anomaly that could be a money making opportunity? or are there sound technical/fundamental reasons why that is happening and the markets will continue to diverge?
So basically, as with any method/stategy, it works fine until it doesn't!! The knack is knowing when it doesn't!
Scaling in/out of positions is a very simple term for a very simple process. It just means instead of picking one price for putting on/taking off your whole position you gradually do it in smaller portions at and around your target price. Obviously you can't do it if you trade 1 lot max, but for 2 or more I believe it is the only way.
I don't trade for any particular 9 months of the year. If something comes up I know I can just up and leave at very short notice. Some of my best hols have been spur of the moment.
One thing I would suggest though is to take a break/breather after you've had a very bad run in the markets AND also after you've had a very GOOD run. Just take a few days out, don't even look at the markets or paper trade. Always helps for me.
The last part of your question:
'You dont use any of the standard indicators in your trading so are you using chart patterns or just instictive trading from what you see' I will try and answer below but could get long-winded...
scaling in/out of positions
Hi zow,
I'm intrigued to inquire a little deeper on how someone who trades with size scales in/out of a position, maybe it will help me understand how real traders trade.
over what kind of time frame are we talking about generally for scaling into a position?
If this is happening over say half an hour you would need to have some idea that the market was going to hold around that area.
What would be considered an acceptable spread around the target entry point?
do you use market or limit orders?
Cheers
Hi zow,
I'm intrigued to inquire a little deeper on how someone who trades with size scales in/out of a position, maybe it will help me understand how real traders trade.
over what kind of time frame are we talking about generally for scaling into a position?
If this is happening over say half an hour you would need to have some idea that the market was going to hold around that area.
What would be considered an acceptable spread around the target entry point?
do you use market or limit orders?
Cheers
