Found something special..share?

[spiderbyte87]

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.

No worries I get defensive when I feel attacked, It's just in my nature and upbringing.

I guess it's not that the entries don't matter, it's just that I know my probabilities, so bad entries don't matter. I may have 3 trades go bad, but when that 4th one goes my way it's going to go deep into profit. My edge is in my one good entry out of 4 taking me into an awesome exit setup.

 

[aag100]

No worries I get defensive when I feel attacked, It's just in my nature and upbringing.

I guess it's not that the entries don't matter, it's just that I know my probabilities, so bad entries don't matter. I may have 3 trades go bad, but when that 4th one goes my way it's going to go deep into profit. My edge is in my one good entry out of 4 taking me into an awesome exit setup.

imagine if you will,a boxer with a knockout uppercut but a not so good jab.do you think it would be too much trouble for him to work on his jab because it would take some thought and effort to improve it.
or imagine if you will transposing a mathamatical equation but only being concerned with one side of it....
alas i have alot to ponder about my own trading.
happy trading.

 

[numbertea]

My entries are random, 8am every morning. My direction is chosen and I get in. I switch direction throughout the day and I exit my last trade at 4:55pm.

I guess that makes my entry and exit truly random. For my trading plan, however, they are precise and controlled entries and exits.

I confuse and confound myself. Not hard to do evidently.

Cheers

 

[aag100]

My entries are random, 8am every morning. My direction is chosen and I get in. I switch direction throughout the day and I exit my last trade at 4:55pm.

I guess that makes my entry and exit truly random. For my trading plan, however, they are precise and controlled entries and exits.

I confuse and confound myself. Not hard to do evidently.

Cheers

you confounded yourself and dumbfounded everyone else.

 

[spiderbyte87]

imagine if you will,a boxer with a knockout uppercut but a not so good jab.do you think it would be too much trouble for him to work on his jab because it would take some thought and effort to improve it.
or imagine if you will transposing a mathamatical equation but only being concerned with one side of it....
alas i have alot to ponder about my own trading.
happy trading.

Both of those examples include variables that are wildly different than the ones found in trading, although I see what you are getting at. The thing is, I've conceded to the market being unpredictable. My entry isn't perfect, but it gets me into position for big moves often enough that I am handsomely profitable. At this point improvement to my entry is pretty much just grail-seeking, and we all know how that goes.

@numbertea: I'm confused.. are you precise and controlled or completely random?

 

[barryb]

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

Spider, go and make your millions and then worry about giving back. I'm sure no one will begrudge you being a little "selfish" in the meantime.

 

[spiderbyte87]

Spider, go and make your millions and then worry about giving back. I'm sure no one will begrudge you being a little "selfish" in the meantime.

Haha I don't need gobs of money. I'm just trying to figure out how to make a positive impact on the world in a real, quantifiable way. There are lots of superficial ways to "give back", but I want something that actually means something. I'm leaning toward education, but iunno.

Maybe I'll go broke and this will all have been for not, but what is a man without his dreams?

 

[numbertea]

@numbertea: I'm confused.. are you precise and controlled or completely random?

I am controlled. I trade when I believe the tide for the day turns. If it is going to be straight up or down, a slow climb or descend for the entire day then I want to be in on it. So I get in at 8am in the direction indicated by my system. I switch direction when necessary and I am out at 4:55pm if no other switch signals after 4pm come up. I don't enter a position after 4pm.

It is planned entry and exit.

Cheers

 

[spiderbyte87]

I am controlled. I trade when I believe the tide for the day turns. If it is going to be straight up or down, a slow climb or descend for the entire day then I want to be in on it. So I get in at 8am in the direction indicated by my system. I switch direction when necessary and I am out at 4:55pm if no other switch signals after 4pm come up. I don't enter a position after 4pm.

It is planned entry and exit.

Cheers

Sounds a bit like how I trade.

 

[barryb]

Haha I don't need gobs of money. I'm just trying to figure out how to make a positive impact on the world in a real, quantifiable way. There are lots of superficial ways to "give back", but I want something that actually means something. I'm leaning toward education, but iunno.

Maybe I'll go broke and this will all have been for not, but what is a man without his dreams?

Go for it, there are many schools in Africa, Asia or even in the UK, that would appreciate some of your time. But, please don't tell me you mean educating people on trading when you've been doing it for less than a year or whatever. The only people who should be teaching trading are individuals who've prospered in the markets for decades (plural). That ain't me, and it certainly ain't you.

 

[spiderbyte87]

Go for it, there are many schools in Africa, Asia or even in the UK, that would appreciate some of your time. But, please don't tell me you mean educating people on trading when you've been doing it for less than a year or whatever. The only people who should be teaching trading are individuals who've prospered in the markets for decades (plural). That ain't me, and it certainly ain't you.

I did mean education in the classical sense. To play devil's advocate I must say that there are plenty of people out their successfully training new traders without decades of experience.

 

[WR1]

mods please close thread

 

[spiderbyte87]

mods please close thread

Any specific reason? If you don't like what's on here, then don't look at it!

 

[WR1]

your wasting everyone's time and also putting out half truths

most system designers or any trader that has traded long enough knows there are many important factors to consistently winning - and putting more weight on just the exit is pure nonsense
especially when entry comes first anyway !

do you exit a trade before entering ??

and because how do you know where price is going - are you a Market Maker ?
im not, but i have a few tools you would not believe for accuracy (and no i won't be sharing either)
but price does nt always go there or fall from there,
sometimes it stops somewhere else, that's trading so have to be prepared for every eventuality

if your not a market Maker or mover then put equal weight into all the main criteria
personally i find the entrys 1st because if that's stuffed then stops have to larger
and losses are far more frequent

besides a good entry always means some profit
a good exit means how much

i use this to build strategy's and have seen the same and similar from other experienced traders

Main Trend -
Entry -
Close signals -
Targets -
Get out signals -
Stops -

they can be done in any particular order does nt matter which - just equal weight to all

 

[new_trader]

most system designers or any trader that has traded long enough knows there are many important factors to consistently winning - and putting more weight on just the exit is pure nonsense
especially when entry comes first anyway !

do you exit a trade before entering ??

Don't be so critical. There are many traders in this forum who rank exit and "money management" above entry...I think it's pure nonsense myself.

 

[WR1]

Don't be so critical. There are many traders in this forum who rank exit and "money management" above entry...I think it's pure nonsense myself.

why not be so critical...?
this is a serious business and especially if 95% loose
(although this is also not true) apparently its only around 70%

but there must be something wrong somewhere

look after your entry's, and exits will look after themselves

can we please close this thread, as no ones sharing anything, so it now has no purpose ?

 

[new_trader]

why not be so critical...?
this is a serious business and especially if 95% loose
(although this is also not true) apparently its only around 70%

but there must be something wrong somewhere

look after your entry's, and exits will look after themselves

can we please close this thread, as no ones sharing anything, so it now has no purpose ?

There are many threads in this forum that have no purpose, why are you on a crusade to close this one? There is an 'Unsubscribe' function for a reason.

 

[WR1]

good idea
and 2 posts is not a crusade

thought at 1st we may learn something,
but unfortunately turned into the same old ive found the Holy grail nonsense
(just not in so many words)

so i've tried to add something that maybe might help one or two realise there is no need for the Grail

just define your trades in a consistent and logical manner and as simple as possible
(as in the main criteria i listed)
and you will find good trades with ease

and for those that think entry or exit is the most important
its NOT

its the MAIN TREND

 

[numbertea]

why not be so critical...?
this is a serious business and especially if 95% loose
(although this is also not true) apparently its only around 70%

but there must be something wrong somewhere

look after your entry's, and exits will look after themselves

can we please close this thread, as no ones sharing anything, so it now has no purpose ?

In discretionary - tape reading strategies I posted a few charts and explanation. It is no grail, just a lot of hard work.

I trade all day when I can, my bad days are 12 point losers but I'm still profitable. I let my winners run till my day end.

Cheers

 

[spiderbyte87]

good idea
and 2 posts is not a crusade

thought at 1st we may learn something,
but unfortunately turned into the same old ive found the Holy grail nonsense
(just not in so many words)

so i've tried to add something that maybe might help one or two realise there is no need for the Grail

just define your trades in a consistent and logical manner and as simple as possible
(as in the main criteria i listed)
and you will find good trades with ease

and for those that think entry or exit is the most important
its NOT

its the MAIN TREND

You aren't going to get very far thinking in absolutes, brother. I made it very clear (I thought) that I had not found any grail, and that this thread is not about that. It has gotten a bit derailed, but that's fine if somebody is getting something out of it. Oh, and I know a guy by the name of Paul Tudor Jones that might disagree with you about some of your statements. There are no absolutes, just general guidelines. After that, it's up to the trader to find his or her way.