|
PureBytes Links
Trading Reference Links
|
Mark, et. al
I'm assuming this letter is directed at me since I wrote the mail, not
Dennis. First let's sort out I'm not a vendor, yet. I've got some software
for myself that would be of use to others, like you. But it's not on the
market. Second, I don't have clients that trade. I don't know where you got
that.
I'm glad you're a counter trend trader and I'm glad you make money doing it.
You also have a shit load more experince and have had access to ideas and
minds that most traders only dream of. You may make more money doing it but
it's a helluva lot more dangerous than trend trading. My goal was to show
for people that may be wondering --well gee do I have to have that kind of
experience and access to a computer and Java ++, C++, Easy lnaguage, Visual
Basic, and have talked to Peter Aan, and "Greta Traders" to be succesful at
the markets? No, you can trade with the trend at still win and win big.
Scoff at it, laugh at it, but it would have come in handy when I was
starting out. I attempted to swing trade when I first started out but ran
into problems like the market wasn't stopping at support and when it would
would just bounce a fraction and continue lower, etc. Then I wised up and
realized that I was market selectivelty that was important. With 50 markets
to choose from why wasn't I putting my money in a market where the
probablities were greatest? I'm a short term trader and a swing trader too
but I like to do this type of trading with the trend. Let's just say it
seems to sit well. Recent trades include fading the giant move in BP and
CD. These mildly profitable but the real money has been made in markets
where I'm either going with the trend (RL) or fading a correction (meats).
I can't agree with your assumption that you don't know which markets are
going trend next. Markets like this exhibit patterns and every nickel and
dime newsletter in the country is watching the fundamentals. Technical
pictures also set up. And when a truly trending market does break out then
there's plenty of time to jump on.
I'm not trying to run you over or anyone else but just trying to point out a
simple fact. Trading with the trend is easier than countertrend trading.
In it's purest form, it doesn't even take a computer. There's always a
futures market that's trending somewhere in this country (or others). Why
not go there? Moreover, trying to sort through all the different approaches
without loosing vast sums is a challenge for new traders.
On an undisputeably positive note, some of your observations have sparked
what I think will be ideas. I'm glad I have the experince behind me to
appreciate them.
Brian.
-----Original Message-----
From: Mark Brown [mailto:markbrown@xxxxxxxxxxxxx]
Sent: Friday, September 04, 1998 2:13 PM
To: Omega List
Subject: Re: Velocity, acceleration, tensors -- as it realtes trend
trading...
Subject: Re: Velocity, acceleration, tensors -- as it realtes trend
trading...
>> Are there any others out there who want to defend countertrend trading?
>
>I probably shouldn't speak for Mark... he does that quite well for himself.
:-) But I interpreted his countertrend" post somewhat differently. I took it
to mean *TRY* to pick off the top or the bottom.
>If it doesn't work, reverse and go the other way. So, he's really trading
both trends and countertrends.
>
> Dennis
Dennis, I ve become the same as all those traders I've worked for in the
past. They would tell me the system to program and it would be crap. They
would say well thats the system all the details I've given you. But they
had done some things for so many years that they forgot that they did it at
all. They just took it for granted that every one knew what they were
talking about.
I assume the following: Markets trend very little, when they do its
impressive sure. How will you pick the correct market to catch the trend?
You wont its like the lottery and if you do it wont be because you know what
your doing. Thus I assume every market top and bottom to be sold and bought
if my systems tell me to. The trends take care of themselves, for if it is
truly a trend the systems reverse and go with it. Simply I'm a counter
trend trader with a backup plan for when I'm wrong. I'm wrong very little,
I do just fine counter trending and I'm counter trending 90 % of the time.
Wouldn't it be easy for me to trade the trend ? Da! Breakout channel, Da!
moving average, Da! 3 higher highs, Da! on and on.. I'm not stupid I can
trend trade can you counter trend trade? Thats what I want to know, you
have pissed me off sort of and if you dont agree then dont agree. But dont
run me down button hole, maybe you could learn something that would help you
sell some software that would really make some of your clients. I have the
most problems with vendors on this list and why? MB
|