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I checked out his topdog website briefly but I couldn't actually find anything to describe what he advocates, if there's anything there it's completely buried behind the advertising and promotion stuff. Do you want to expand a bit on the principles you use then?
Thanks
You can discover what your enemy fears most by observing the means he uses to frighten you.
Can you help answer these questions from other members on NexusFi?
unfortunately futures.io (formerly BMT) doesn't allow me to post links yet. I will PM to you the link to a webinar where Burns briefly explains his principles I have adapted.
Ah OK, didn't see you'd just joined until now. I think you just have to make 5 posts and then the restrictions are removed - a precaution against Vietnamese / Russian spam attacks. Last time I looked anyway - not sure it stayed that way, I think spammers adapt to survive so counter-spam measures probably need adapting regularly too.
You can discover what your enemy fears most by observing the means he uses to frighten you.
@WilleeMac - I just searched on google. Don't remember exactly what the link was, just put a few search words in, you're bound to find it on the first page. But as I said above, the guy didn't reveal anything except the price of his courses and books
You can discover what your enemy fears most by observing the means he uses to frighten you.
It is all part of the free sectioin of his website, but I agree that it's not easy to find.
In any case, this is just one suggestion: I guess that your main problem now is to simplify as much as possible your view of the market. To this end any simple but rational general theory of the market can be very useful, provided it resonates with you.
I'm totally open to suggestion. I figure that my definition of trend or range or neither (as above) is as simple as I can get it. I've got trend direction and strength in there, and ranges. You think something's wrong? I can't see it myself except maybe over-simplification. Or are you talking about more than just this trend / range / neither definition?
You can discover what your enemy fears most by observing the means he uses to frighten you.
I think that this definition has its merits, that will become apparent the moment you will have it coded into your indicator. This will also bring to the surface some drawbacks, though.
There is a group of traders I know, who trade profitably the Dax and the Bund off a single Zig-Zag indicator. They rely on a relatively higher percentage of winners to compensate for a penalising profit factor, and they are required to change their indicator's parameters every now and then.
Perhaps you might adopt this same approach right away with your indicator.
As for me, I am just unable to trade this profitable strategy: my personality demands for much less risk. That's why I had to devise a more elaborate strategy, taking into account several other dimensions (momentum, volatility, liquidity, higher-time-frames...).
I contend that the starting point of every trading strategy is yourself. Let me briefly tell my experience.
After spending several+ years analysing "the market", desperately looking for some "objectivity" to dictate when to enter and when to exit my positions, what really made me click was to turn my approach around, asking what "I" wanted from the market. To answer such question I had to delve deeply into my personality.
It took me years, but finally discovered that I am an extremely risk-averse, and impatient person.
Then came the easy part: building a strategy around the constraints dictated by my personality. In my case ridiculously-small stop loss, profit factor above 2, more than 50% winners, the highest number of trades as possible. Huh, yes: and applicable to my pet-contract: the 6E.
At that point I stumbeld upon a Barry Burns webinar, and found that his approach could fit my deal, functionally integrating the over-simple Jeff Quinto strategy I was struggling with back then. Chiming a popular say: perhaps simplicity (and over-simplicity) is just in the eye of the beholder.
Can I say Burns' method is THE right fit? No way, no! It works for me. Perhaps many others would.
And now for the hard part again: applying my method unfailingly. I am expecting my impatience to be a big stumbling block. For instance I am ending this week feeling dissatisfied, despite trading well and strict to the plan.
I also expect this daily struggling will make me evolve over time. Then my needs will also become different, and I might change my strategy accordingly.
I hope this can be of help to you too. It certainly was for me to put down straight my experience. I thank you for this opportunity.
I can also see that this post partially disconfirms my previous ones. I apologise for that.
Thanks v. much for reminding me of the Zig-Zag indicator. If it's well-coded it might just save me a lot of time coding up something similar from scratch.
re your psychological journey - I can totally appreciate that, I think a lot of people have the same struggles.
You can discover what your enemy fears most by observing the means he uses to frighten you.