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Alex,
Thanks for your contibrutions which sparked some very interesting
trade talk.
It's worthwhile to consider trading philosophies from time to time.
Mentation (man == manas == the mind) is what distinguishes us from
the lower kingdoms of nature.
The concept of *trading the edge will erode the edge* has been
tickling away at me since Howard featured the idea in his QTS book.
Also the question of *what is the limit of achievable % PA returns
for a freelance trader and why?* is another one I can't resist
thinking about from time to time.
It is good value to me to see the comments of other free thinking
investors/traders on these topics.
I also appreciate you providing leads to road tested sites.
There isn't enough hours in the day to get around them all so when
others pass on some of the better ones it does help.
No reasonable person expects recommendations to be gilt edged.
We have to keep searching for new ideas to keep improving.
Only a small percentage of our research will make it into the pay
packet.
Brian.
--- In amibroker@xxxxxxxxxxxxxxx, "dralexchambers"
<dralexchambers@xxx> wrote:
>
> T.Ohrt - no offense taken. Everyone must find their own way. There
is
> a lot of bulls**t out there, but also some credible. Ultimately,
> others can recommend systems - and you are right to be sceptical -
> but each man/woman must find their own way, and that can only be
done
> by exploring with an open mind (how philosophical :)
>
> Dennis - you are entirely correct. On "paper" 1% a day makes
> $trillions compounded over years, but in reality you can only buy
so
> many positions at a brokerage and sell them when you need. Plus,
> taking into account decent money management and not risking more
> than, say, 2-5% on any one trade - so 1% overall returns are much
> smaller.
>
> If you search for The Rumpled One (TRO) on the net, you will see
this
> guy is VERY credible. I have learnt a lot from him. And it is all
> FREE! Some people - and no offense if you are one of them - will
not
> be able to accept this.
>
> TRO recommends:
>
> 1. Do NOT diversify. Focus on 1 or 2 stocks/FX/whatever and NAIL
them.
> 2. Keep it simple
>
> I know for a fact the first time I used his indicators, systems,
they
> were so simple I HAD to meddle with them. That says a lot about
> myself. I am now approaching with a more open mind.
>
> I have ported his indicators over to Amibroker at:
>
> www.kreslik.com
>
> (OFF TOPIC: I do love Amibroker! It is very good for the price. I
> just wish - and no offense intended - that Thomasz would have more
> support staff).
>
> There is a lot to take in at kreslik.com - but I really do
recommend
> it. Please explore.
>
> (BTW: I have NO financial interest or otherwise).
>
> TRO trades AAPL primarily - for an hour or two at the US Open. You
> can see how AAPL very often "prints" $100 notes. TRO has a chat
room
> (also free), where he talks thru his trades each day as they
happen.
> I learn a lot from this.
>
> HOWEVER - his trading is not 100% mechanical. He is very
experienced.
>
> Myself - I am still demo trading, but am using the ideas from
> www.kreslik.com to backtest one of the systems. I am aiming for 1%
a
> day and reckon it can be done. I prefer mechanical systems, as I am
> jumpy and impatient - and don't want to be hovering over the Sell
> button when in a position wondering.
>
> Utlimately, give 10 people the same information - 5 will make
losses,
> 3 will break even and 2 will do well. This is a fact of life.
>
> If day-trading is not for you, definately check out David's book
> (through my affiliate link would be great :)) - David's system is
EOD
> and good. His support is excellent - and personal! - and he taught
me
> a lot about spread-betting, risk management (which I had no idea
> about before!) and swing trading. And if you don't like the eBook -
> he does refunds.
>
> I own a lot of systems, but these are the two I recommend.
>
> I hope this helps.
> Alex
>
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