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A post by you anywhere would be well-received Gary. You are, after all, the most interesting trader in the world.
A question for you--if you think about a "methodology," some might call to mind a trend following methodology, for example. Or maybe it's a range breakout methodology. To me, these aren't really methodologies, but strategies. Don't you think that a methodology, if it really can be defined as such, should be somewhat timeless? Over a VERY long period in the market, certain things will certainly change. And while specifics of a methodology, i.e., the particularly approach, or specifics of strategies, will obviously change depending on many factors, shouldn't we have a basic model that is general enough that it can remain at the core of how we trade, always? What do you think? @tigertrader
I heard about that the other day on a radio talk show. Michael Douglas plays Liberace, and Matt Damon is his boyfriend. Does not sound pretty, but I plan to watch it.
While I appreciate Gary's offer to attend the Speculators Dinner, I would like to bring the discussion to a close at this time. While there are no prizes for participating, I wish to express my heartfelt thanks to each of you for taking the time to have some fun at my expense. These last few posts have generated over 1000 views of my thread in two days.
On another more trading related note, I did not trade today. I had internet issues all morning.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
If you've ever traded with a mechanical system / EA / automated strategy / whatever you like to call it, then you'll really appreciate the stats a lot lot more. There are about 5 different stats you want to look at beyond the primary pair of win rate vs win-loss ratio:
- avg profit per trade
- avg slippage per trade
- trades per day / week / time period
- max dollar drawdown
- max time in drawdown
and then a whole load more like MAE, MFE, etc. It's definitely worth the effort of logging your trades in a spreadsheet. Bit of a pain in the neck especially as I found that Excel sometimes crashes Ninja
You can discover what your enemy fears most by observing the means he uses to frighten you.