Hi Scott I am Daniel, i think I asked you about doing a link exchange, but i really forgot. Dont know if you remember me but i have been asking you questions and following you. I put up and small website and wanted to see if you wanted to exchange links. Let me know. The web is
Scott, I'm curious about how often you reverse position quickly when you get stopped out of a trade vs. stopping out and backing off to re-evaluate. I'm talking about a rough percentage not some exact figure. My question has broader implications because it would indicate a lot about the spot you tend to enter as it relates to areas of congestion/consolidation (where repeated stop-outs can chew up a trader). I'm wondering if your edge takes this into account, either intentionally or inadvertantly.
and to add to bct, do you have a rough percentage of stop outs per day? it amazes me that the breaking highs/lows that you get on board work. dtf and i always laugh saying every time we try, we get stopped, everytime scott goes for it, it works, and works well. and when you say "system" based, you aren't talking about trading bots, just that you have a system that you follow, correct?
BCt & J- I've had days of less than 50% trades that work. I've had days that 100% trades work. The daily action determines that. My system is the thing that minimizes the amount lost or maximizes the win. I don't keep track of if I reverse direction or not so I don't know that. If I'm wrong twice in a row in a stock I obviously don't have a good read on the momentum so I'll go play something else. There is no hard and fast rules that a trader can use to forecast 100% correctly whether to go with the trend or suddenly trade contra it. It is a feeling that at least for me, me eye sizes up all the related factors i can see and a couple that i feel, then I trade accordingly. Pretty murky explanation I know. But when I am in the sync with the markets I can somehow sense when the trends usually stop, pause or reverse. It is so easy to trade this momentum yet so hard to explain how. It's price action, market sentiment, human psychology wrapped up in gut feelings. Trading bots are the best thing to happen for volatility. Instead of being scared of them, I let them show me what to do. I ride their coattails to profits. And I know when to get off and take my profits. I'll never be as fast as them so I don't try. However I do know that they were programmed by humans and so they have no advantage over me, it's me that has an advantage in that I can follow their lead.
Bought RVBD
6 comments:
Hi Scott I am Daniel, i think I asked you about doing a link exchange, but i really forgot. Dont know if you remember me but i have been asking you questions and following you. I put up and small website and wanted to see if you wanted to exchange links. Let me know. The web is
www.futures-trading-how-to.com
Thanks
Dan.
Awesome trades. What charts do you watch? Just the 5 min and daily?
Dan - see my response on 3/18 FAS to your question
SF- I watch the 5, 15 and daily. Most decisions come from the 5 minute chart
Scott, I'm curious about how often you reverse position quickly when you get stopped out of a trade vs. stopping out and backing off to re-evaluate. I'm talking about a rough percentage not some exact figure. My question has broader implications because it would indicate a lot about the spot you tend to enter as it relates to areas of congestion/consolidation (where repeated stop-outs can chew up a trader). I'm wondering if your edge takes this into account, either intentionally or inadvertantly.
and to add to bct, do you have a rough percentage of stop outs per day? it amazes me that the breaking highs/lows that you get on board work. dtf and i always laugh saying every time we try, we get stopped, everytime scott goes for it, it works, and works well. and when you say "system" based, you aren't talking about trading bots, just that you have a system that you follow, correct?
BCt & J- I've had days of less than 50% trades that work. I've had days that 100% trades work. The daily action determines that. My system is the thing that minimizes the amount lost or maximizes the win.
I don't keep track of if I reverse direction or not so I don't know that. If I'm wrong twice in a row in a stock I obviously don't have a good read on the momentum so I'll go play something else.
There is no hard and fast rules that a trader can use to forecast 100% correctly whether to go with the trend or suddenly trade contra it. It is a feeling that at least for me, me eye sizes up all the related factors i can see and a couple that i feel, then I trade accordingly. Pretty murky explanation I know. But when I am in the sync with the markets I can somehow sense when the trends usually stop, pause or reverse. It is so easy to trade this momentum yet so hard to explain how. It's price action, market sentiment, human psychology wrapped up in gut feelings.
Trading bots are the best thing to happen for volatility. Instead of being scared of them, I let them show me what to do. I ride their coattails to profits. And I know when to get off and take my profits. I'll never be as fast as them so I don't try. However I do know that they were programmed by humans and so they have no advantage over me, it's me that has an advantage in that I can follow their lead.
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