Sensex

Saturday, November 28, 2009

Re: [Technical-Investor] A word of caution

 

Hi Seniors
 
Fully agree with what you have written here.
 
But the fact remains that each newbie needs to find the system, the strategy and the methodoly that suites them and their psychology the best.
 
Each of the newbie has to evolve and learn from their own testing of methodologies before they find one that is suitable to their psychology and temperament. No one should end up becoming a "Copy Cat"
 
The only caution which holds good in the above situation is that pertaining to money management - this is something which we traders have to take with us to our graves irrespective of the various strategies or methods that we may be practicing during our trading career.
 
Strategies and methodologies needs to be practiced based on the markets at that point in time and we should always try to evolve.
 
If you do not agree to what i state above - Then let me pose just one question "Kindly let us know what trading strategy should we adopt and we will religiously follow the same" - I bet we will get hundreds of answers and nothing conclusive and the story continues - Our efforts are not for The Holy Grail but for the strategy that suits our temperament.
 
We look up to our seniors not for sharing their strategies with us but to share with us what they have personally learnt from their trials and errors - this will reduce our learning time.
 
Thanks and Regards
Floyd

--- On Sun, 11/29/09, Pankaj Chawla <pankaj013@gmail.com> wrote:

From: Pankaj Chawla <pankaj013@gmail.com>
Subject: Re: [Technical-Investor] A word of caution
To: Technical-Investor@yahoogroups.com
Date: Sunday, November 29, 2009, 12:57 AM

 
I studied, backtested, paper traded, created my own systems etc etc a zillion
times till ti occurrd to me how stupid I was looking for the holy grail. Its been
4 years and I have been trading one and only one custom setup using ADX,
ATR and MA. The thing I changed was get my money management in place
and go total mechanical. I dont enter a trade neither do I exit it till the setup
says so. Thats the holy grail. 

AP, you remember those days when everyday we used to figure a new setup
taht seemed to make the billions only to find it failed the very next day :-)

Cheers
Pankaj  

On Sun, Nov 29, 2009 at 11:21 AM, Ray Seth <rayseth@gmail. com> wrote:
Well said. I have 3000 afls. Anyone needs just ask.

On 11/29/09, Abhijit <ap19632000@yahoo. com> wrote:
> This is meant especially for the 'newbies'.
>
> I have seen a  huge bombarding of articles and trading strategies over the
> last few weeks.
>
> I myself have gone through this phase, and I might be having close to 1000+
> afls in my Amibroker folder.
>
> I have reached a conclusion long back, that any further information will act
> negatively rather than positively, and one needs to be cautious, since you
> stand a chance of facing an overdose of information.
>
> The result of this is that you find yourself more confused.
>
> Over a period of time, one has to identify a couple of strategies that he/
> she is comfortable with, and use that as the base, amd just look at new ones
> for information alone.
>
> Do not try and change the base strategy every time you come across a new afl
> or a trading strategy, or a new pattern.
>
> Do not forget...... ......
>
> OVERDOSE CAN KILL !!!!
>
> Any strategy will work to give profits, as long as you have the mental
> discipline and money management rules.
>
> Cheers,
>
> AP
>


--
Trading at all skill levels evokes emotions that generate great illusions.

Today's excitement won't move tomorrow's markets

Don't let that small voice of ego tell you that you have special talents.


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Posted by nsivaa at 11:23 PM

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