|
PureBytes Links
Trading Reference Links
|
Andrew,
I'll take a look at Connie Brown.
Why do you say Tharp is a very mixed bag?
--- In equismetastock@xxxxxxxxxxxxxxx, "Andrew Tomlinson"
<andrew_tomlinson@xxxx> wrote:
>
> You don't know whether you are there yet without extensive
backtesting using
> realistic execution assumptions under a variety of market conditions. If
> your system can't be back-tested then it needs to be extensively
traded in
> real life, again under a variety of market conditions. Without
back-testing,
> traders tend to have less confidence in their systems and start to
ignore
> entry signals and get out early or override exits and stops. It's
one reason
> why they fail.
>
> If you want to trade in a discretionary fashion, then trading
psychology is
> critical. Elder is a start, Tharp is a very mixed bag - you could
look at
> Connie Brown, Aerodynamic Trading.
>
> Andrew
>
> -----Original Message-----
> From: equismetastock@xxxxxxxxxxxxxxx
[mailto:equismetastock@xxxxxxxxxxxxxxx]
> On Behalf Of pumrysh
> Sent: Tuesday, June 14, 2005 1:47 PM
> To: equismetastock@xxxxxxxxxxxxxxx
> Subject: [EquisMetaStock Group] Re: Why do traders FAIL?
>
>
> 1. False expectations
>
> 2. Probably not much more unless there is something really new
> introduced.
>
> 3. Mismanagement and #1
>
> 4. This one is fine.
>
> Preston
>
>
>
> --- In equismetastock@xxxxxxxxxxxxxxx, "metastkuser"
> <andysmith_999@xxxx> wrote:
> > I have a question (unrelated to Metastock) for the experienced
> traders
> > on this forum.
> >
> > I have now read a dozen books on trading -- not the foo-foo books
> that
> > promise $10M in the next trade, but ones by Tharp (my favorite),
> > Chande, Le Beau, Stridsman, Elder, Covel, Schwager (and O'Neil,
> > Link,...) and a couple of Tharp's IITM publications on money
> > management etc. Will get to Kaufman next. And of course every issue
> of
> > Roy's MSTT which are simply marvellous.
> >
> > I've put a couple of hopefully positive expectancy systems together
> > (discretionary at this point so it's not easy to use the system
> > tester). The systems have four stages: 1) setup (to identify market
> > trend and stock trend but not entry), 2) entry (looks at timing), 3)
> > exit and 4) money management. I have spent quite a bit of time on 3)
> > and 4) because I believe they hold the key to being a successful
> > trader. I use volatility as a significant determinant in all 4
> stages.
> >
> > So I've done my homework. The odd thing is that none of this has
> been
> > difficult to understand -- not just for me but I'm sure for anyone
> who
> > takes the time and has some patience.... and now I am confused.
> >
> > 1) Why do so many traders fail? Have they not read these books?
> > (Please don't reply that they are undercapitalized and/or they have
> > the wrong psychology for trading).
> >
> > 2) What do reading the next 50 books buy me (besides the enjoyment
> of
> > reading them)? Surely the law of diminshing returns kicks in right
> > about now.
> >
> > 3) At this point, what would the typical causes of failure be?
> >
> > 4) This is a Metastock forum. Can someone point me to a more
> > appropriate forum for this type of discussion (I have not found
> one).
> >
> > Thanks!!!
>
>
>
>
>
>
> Yahoo! Groups Links
------------------------ Yahoo! Groups Sponsor --------------------~-->
Has someone you know been affected by illness or disease?
Network for Good is THE place to support health awareness efforts!
http://us.click.yahoo.com/Rcy2bD/UOnJAA/cosFAA/BefplB/TM
--------------------------------------------------------------------~->
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/equismetastock/
<*> To unsubscribe from this group, send an email to:
equismetastock-unsubscribe@xxxxxxxxxxxxxxx
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
|