as214
184 posts
msg #46194
- Ignore as214 |
8/5/2006 12:12:09 AM
Niko,
I would never attempt to debate you on anything related to daytrading for you would clean my clock. I think an important lesson can be learned from Livermore for the short term trader and longer term holder alike. Jesses one fatal flaw is that he felt he could time the market. It served him well when shorting before the depression, but he also lost most of what he gained by buying too early going long after that thinking the time was right. He was more worried about the market. He was always concerned with bulls and bears. That led to his demise I feel. Contrast that with Buffett who says " As far as you're concerned the market doesn't exist. Focused on individual entities that are misappraised, the rest will just cloud your judgement" I think the same applies to trading as well that's what I admire about AVery-RTO so much. You dont really hear him talk about the market or speculate where it will go he always focuses more on individual issues. PS.. Thank you for your DMA 28,-14 and EMA9 exit criteria, Ive done some backtesting on some of my previous holdings and it looks like a winner for sure. Also thank you for the links to the books. That was classy of you.
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jrbikes
624 posts
msg #46223
- Ignore jrbikes |
8/6/2006 10:32:38 AM
pandora,s box?
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TheRumpledOne
6,411 posts
msg #46224
- Ignore TheRumpledOne |
8/6/2006 12:27:41 PM
as214
"Buy and Hold works. It's a falisy passed down from brokerages houses that buy and hold doesnt work. Ive turned 25k into millions in just 8 years buy buying sh*t that was beaten down unjustly and holding, adding to my position on dips and pullbacks.. "
I sure would love to see the entries/exits.
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nikoschopen
2,824 posts
msg #46231
- Ignore nikoschopen |
8/6/2006 3:08:15 PM
jrbikes,
Have you found ure Pandora's box yet? How's the EMA(9)/DMA(28,-14) coming along? Does it equate to a windfall or a pitfall? Perhaps we can exchange more ideas.
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guru_trader
485 posts
msg #46235
- Ignore guru_trader |
8/6/2006 9:28:16 PM
I doubt you'll find a filter that will predict the future; if you do, let us know about it. Wait-a-minute, if you let us know about it, then it would quickly spread across the Internet making itself useless as more and more people trade off it.
I suggest designing your filters to display stocks with high probabilities of doing what you are looking for. For example, using TRO's GAP filter, stick to trading stocks that have a higher statistical probability of filling the GAP. Combine that with good money management to get you out appropriately and you should have a successful system. That's why almost any filter can be traded successfully ... combination of statistical advantage and money management.
Here is a trader who's only criteria was to enter trades on Fibonacci time frames ... http://www.elitetrader.com/vb/showthread.php?s=&threadid=8734
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