SJD's Notes

[sanjosedesi]

Dear Sanjosedesi

Books are a source. Nothing more and nothing less.

After reading a book or a thread or a source what is the next thing to do?

......................................................?

Too many riddles !! Do share your perspective.

My guess will be backtesting and experimentation. I do not do much back testing, but experimentation ... sure !!

In my early days while doing computer programming, we were trained and many a times I could debug a program (non trivial) on paper. So from that aspect, I believe backtesting is not required. However, I have not debugged trading as seriously and that's where I think the experimenting is proving helpful as long as you do not put much money in that.

 

[DanPickUp]

Aha

 

[sanjosedesi]

Aha

What happened? Re backtesting?

 

[DanPickUp]

In my early days .

Seems I talk to a veteran.

Get a live time demo account and you can test what ever you want. If you found your way of trading you like to do it and make money with it: you do it.

Good luck and a lot of big bugs in your future.

Dan from the Mountains

 

[sanjosedesi]

Seems I talk to a veteran.

Good luck and a lot of big bugs in your future.

veteran kinda sounds old ... I started with computers about 24 years ago ... wow, that indeed is long ... considering that computers were not a teen hobby in india.

Bugs - sounds like you are frustrated with my lack of plans. Yeah I know I will hit many bugs but my biggest bug seems to be the time availability ... I had finalized on hourly ... then some sick days, some kids days, some upcoming travel ... I will just rhyme ... makes the hourly plans unravel. There is no bigger threat to learning than constant distractions.

 

[DanPickUp]

veteran kinda sounds old ... I started with computers about 24 years ago ... wow, that indeed is long ... considering that computers were not a teen hobby in india.

Bugs - sounds like you are frustrated with my lack of plans. Yeah I know I will hit many bugs but my biggest bug seems to be the time availability ... I had finalized on hourly ... then some sick days, some kids days, some upcoming travel ... I will just rhyme ... makes the hourly plans unravel. There is no bigger threat to learning than constant distractions.

Ok

Make a lot of bugs . Your plans are your plans and they have nothing to do with my plans. You really can be assure about that.

Different traders with different trading ideas and styles. Do not worry about that.

Dan

 

[DanPickUp]

By the way: Now long or short

 

[sanjosedesi]

Dan, checking this from the phone so can't really say if the last candle has breached the candle (pivot) 6 periods back or just about to. According to saints pivot theory (not pivot points based on formula) that I referenced in the first page, we are about to go long as soon as the pivot is breached. To my sleepy eyes it seems we are almost there, if not now, then in a few ticks. GN and will check again in AM.

 

[DanPickUp]

Short with stop limit buy and stop buy plus stop buy for extreme event's. Range is on the top and rebound can come at any time or market just flies away. Also made my orders for that event.

Think what you do,

Good trading

DanPickUp

By the way: Long at 1.2510 was ok. http://www.traderji.com/trading-diary/69904-sjds-notes-21.html#post689587

 

[sanjosedesi]

Range is on the top and rebound can come at any time or market just flies away.

we are about to go long as soon as the pivot is breached.

Although not as clear as yours, I think the reading was similar. We were at a decision point ... and now I see "almost" at the high of the past 20 candles. If it breached this high ... it would imply "market flying away". If it did not, it will be short ... "rebound at any time".

The question is would you already short, or wait for a reversal sign to short? The big green candle closing almost at the top implies the decision is imminent, but it looks more towards the bullish side than the bearish side.