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Dump it Here

Discussion in 'Beginner's Lounge' started by Skate, Dec 17, 2018.

  1. Skate

    Skate

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    ducati916, thank you for your kind words..

    William Shakespeare once said
    "The Eyes are the window to your soul"

    From my experience
    "The words people use are a window to their soul"

    Skate.
     
  2. qldfrog

    qldfrog

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    "Discretionary index trading short and long 30-40%

    Systematic
    When it’s turned on long and short
    60% for 1 and 48% the other"
    As long as you cut your loss and run your win as Tech/A highlighted so often in the past, all good

    I hope Ann has some fears

    Fear is the difference between the dead hero and the alive family man.
    i believe this is valid for the market too.
    My view is there is no place for self confidence in a game where rules are changed, cheating is allowed by and for bigger players than us.
    So i manage risks more than my fears..fears lessened but still present and part of who i am
     
    Skate likes this.
  3. Darc Knight

    Darc Knight Investor not Trader

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    This thread is a thread of wisdom and learning. My takeaway lesson from all this is: don't pi$$ off Ann! :p
     
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  4. Skate

    Skate

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    Darc Knight, Ann understands her own demons & from what she has posted about her personal life it's heartbreaking for me to read.

    Ann's responses to my posts are from her perspective which differ from mine & that's okay, we are all different & fascinating in our own special way.

    Skate.
     
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  5. willy1111

    willy1111

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    An early post of Skates he mentions he likes to offend people, get them worked up and angry and then by the end of the conservation have them apologising to him.

    All a bit of a game, manipulation, sales, fun for him...I can't help but think maybe he is working this on Ann...he put the bait out, her post would seem a little abrupt so much so that Duc suggest she apologize. Maybe he is gaming her maybe not...having read that earlier post of Skates makes me read all his posts wondering if he is working another angle.

    But all in all I have come to a similar conclusion as Skates to my approach to the markets...mechanical coded trend following strategy.

    Skate have you had much exposure to Nick Radge?
     
    Skate likes this.
  6. willy1111

    willy1111

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    How many trades a month/year on average for each?
     
  7. Skate

    Skate

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    I have read every article, listened to every podcasts & viewed all his video's I have found on the internet & what was on his old website.

    I hold Nick in highest esteem as most. I really enjoy his plain speaking approach to trading. (I have never met Nick Radge but I have spoken to him)

    Skate.
     
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  8. willy1111

    willy1111

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    As do I, the learnings I have taken from him have carried the greatest weight far and above any other I have encountered.

    A lot of what you have posted, or beliefs adopted about trading sounded familiar ;)
     
  9. satanoperca

    satanoperca

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    This is profound and once one understands it, the fear is no longer. Thanks for saying as it is, appreciated
     
  10. willy1111

    willy1111

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    There is minor failure and catastrophic failure... minor failure is expected ...not many take on so much risk to risk catastrophic failure, catastrophic failure is not expected.
     
    Last edited: Jan 12, 2019
  11. tech/a

    tech/a No Ordinary Duck

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    Varies I trade discretionary spasmodically as time and conditions look ripe
    I’d say around 10 a month

    Systematic
    50 ish a year


    Why would you expose yourself to catastrophic risk.
     
  12. Skate

    Skate

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    Disclaimer
    Nick is a business person catering to the needs of a customer base & I believe him to be honest & trustworthy, a rare commodity in our times.

    Generic Posts
    willy111, my posts are generic in nature & I use the language commonly touted by educational trainers, ideas & words commonly used stick with you after awhile because you hear them so often & they align with you beliefs.

    It sounds familiar
    Most of what Nick says sounds familiar because it is familiar, meaning most of his ideas are not his own when it comes to education, he levers off what he has learnt from others who have come before him & he repackages & presents the information in his unique style (that I enjoy)

    Regurgitated information
    All financial educators stand on the shoulders of others who have come before them. Same information rehashed in different ways.

    Trading Ideas
    Nicks tradings ideas are nothing new either, there is nothing new when it comes to trading ideas (I've written about that as well) Nick's turnkey strategies are strategies that have been around for a long time, they are repackaged common strategies that have been doing the rounds for quite a few years.

    Not reinvented the wheel
    Nick has not reinvented the wheel & nor should he, in his defense he has formulated his own propriety parameters through his extensive backtesting & applied it to the idea of others. (FYI - Nick is not a coder)

    Skate
     
    Last edited: Jan 12, 2019
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  13. willy1111

    willy1111

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    I wouldn't knowingly...my point was that expecting failure needs to be put into context.
     
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  14. willy1111

    willy1111

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    So help me understand this in some context, if the average risk R is 2% of capital (often widely touted in trading circles as acceptable risk per trade).

    Per 10 trades Discretionary would be (6 wins x 3 x 2% risk = 36%) less (4 losses x 0.7 x 2% risk = 5.6%) = net of 30.4% return on capital per 10 trades which you say you might do per month. Just 3 months a year of this would produce 90% return on capital per year.

    And

    Per 10 trades Systematic would be (4 wins x 5.6 x 2% risk = 44.8%) less (6 losses x 1 x 2% risk = 12%) = net of 32.8% return on capital per 10 trades which you say you might do 50 ish a year which would produce 164% return on capital per year.

    Have I got that right? or am I missing something?
     
  15. Skate

    Skate

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    Sh!t happens
    willy1111, I'm with you, no one knowingly puts themselves in harms way but no matter how smart we are, or how hard we work, we will regularly be hit by news, circumstances, and developments that are unforeseen and the stock market gods will periodically use us for their entertainment, and there is nothing we can do to prevent it, so we have to be ready and mentally prepared to realise drawdowns and losses are part of the trading process, so take it on the chin & be the ‘best loser’ you can possible be.

    Skate.
     
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  16. willy1111

    willy1111

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    Agreed...we play the trading game in the expectation that over the long term the sum of our wins will be greater than the some of our losses. Otherwise we wouldn't play the game.

    Analogies can be drawn to many things...as it is tennis season here in Oz now... players can still win a match even though they may lose many points, games or even sets, they know that is generally part of the game.
     
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  17. Smurf1976

    Smurf1976

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    Rationally you wouldn't but avoiding catastrophic risk first requires that you understand the risk exists.

    There are countless examples from history, largely in finance and engineering but also in other fields, where catastrophic outcomes occurred because either nobody understood the risk, it was dismissed as too unlikely, it was covered up for personal or corporate gain or someone knew and simply assumed that everyone else also knew and so never mentioned it.

    The biggest disasters, financial, engineering or other, usually involve one or more of those elements.
     
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  18. Skate

    Skate

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    willy1111, do you trade a weekly or Daily strategy ?

    Breakout Strategy
    I trade a weekly strategy - a modified version of (1) Captain Black (breakout strategy), a modified version of (2) Nicholas Darvas, (Darvas box system) & (3) John Bollinger, (Bollinger Bands)

    My 3 favourites traders
    My 3 favourites traders are listed above & I trade off their ideas (I have not reinvented the wheel either)

    My trading Strategy
    I actively trade my 'Hybrid Strategy' that is such named as it encapsulates & combines the methodology of each trader I have listed above. (my Hybrid system is 3 strategies in one)

    Skate.
     
    Last edited: Jan 12, 2019
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  19. willy1111

    willy1111

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    Neither...I find monthly to be my sweet spot ;) it's especially great when travelling not to have to think about running scans/placing orders every day/weekend.
     
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  20. tech/a

    tech/a No Ordinary Duck

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    Pretty right but my risk is 1% systematic
    And at the moment .7 of a % discretionary

    The return on capital allocated to trading is a small amount
    Against net available funds.
    I don’t want or need to make a living from trading.

    I enjoy the challenge and most of all the continuous journey of learning,
     
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