I really liked the original intent of the other clinic thread that sought to bring traders together in a way that promotes healthy discussion. Unfortunately, the original clinic failed because people thought it was a good idea to be closed minded about what does and does not *work*.
The bottom line is that anyone who has traded a certain style for an extended length of time, and has made money doing so, is, in terms of statistics, likely not making money because they are "lucky." This much is undeniable.
As it goes, I was challenged to show exactly what I meant when I said that price patterns alone are not the answer, but rather that price patterns hold a situational degree of relevance. I will try to focus my personal contributions to this clinic in discussing that very issue only because it is what I specialize in.
I welcome any and all to add helpful points of discussion regardless of the timeframe and style you trade within. The exercise of this thread will be to get behind the true meaning of the various trading axioms we always see tossed around as well as to diagnose and potentially prescribe ways to get around problems that are common to all traders at one point or another.
Non 1kt members please feel free to send me inquiries and they will be posted here for all to comment on. This thread will NOT be closed by me and it shall contain comments from open minded individuals who understand that there is more than just one way to trade. I learned how to do what I do from a serious individual and I take it very seriously myself. My mentor's resume includes Quantitative Design/Trading for the Fixed Income Derivatives desk at Morgan Stanley, Vice President Quantitative Design/Trading at FIMAT Futures USA, Soceite General, as well as a consultant for Risk Management with countless other companies. This person has taught at Boston College School of Law, University Michigan School of Business, and several others.
With that being said, let's get this started.
The bottom line is that anyone who has traded a certain style for an extended length of time, and has made money doing so, is, in terms of statistics, likely not making money because they are "lucky." This much is undeniable.
As it goes, I was challenged to show exactly what I meant when I said that price patterns alone are not the answer, but rather that price patterns hold a situational degree of relevance. I will try to focus my personal contributions to this clinic in discussing that very issue only because it is what I specialize in.
I welcome any and all to add helpful points of discussion regardless of the timeframe and style you trade within. The exercise of this thread will be to get behind the true meaning of the various trading axioms we always see tossed around as well as to diagnose and potentially prescribe ways to get around problems that are common to all traders at one point or another.
Non 1kt members please feel free to send me inquiries and they will be posted here for all to comment on. This thread will NOT be closed by me and it shall contain comments from open minded individuals who understand that there is more than just one way to trade. I learned how to do what I do from a serious individual and I take it very seriously myself. My mentor's resume includes Quantitative Design/Trading for the Fixed Income Derivatives desk at Morgan Stanley, Vice President Quantitative Design/Trading at FIMAT Futures USA, Soceite General, as well as a consultant for Risk Management with countless other companies. This person has taught at Boston College School of Law, University Michigan School of Business, and several others.
With that being said, let's get this started.