We want to Develop a Trading Method.

SGM · #11 24th March 2008, 06:10 PM

Quote:

Originally Posted by jamit_05

That is an excellent question: Is one willing to dedicate all the time it takes?

I think there is no option really. If one wants to develop an edge to consistently be successful then it will take committment.

How long it takes completely depends on the members of the group. If the members have sufficient knowledge about the basic concepts and patterns then a method can be implemented without much delay.
I already have a few methods under my sleeves. With the help of the moderators and urself I will be more than glad to discuss it.

Thank you.

Hello Amit

Nice to see your enthu ...

You are aware that trading is a business, its not just about finding the best entry technique out there. The phrase "Whatever it takes", shows the spirit and passion behind the desire. But before you put you sleeves up and reveal the methods under there, I would suggest the group start out by creating an outline of a Business Plan. The Strategy part can be plugged in laters.

Once your team is done with the business plan outline You can focus on Strat development.

Here's is link to Jesse's strategy development process diagram

and here's another good doc giving a example of Strategy development.

Regards
Sanjay

beginner_av · #12 24th March 2008, 07:55 PM

Oh Nooooooooo! I thought CV's diagram was only for me and a few of his friends! It is now public knowledge. My edge is gone. CV, CV!

SGM · #13 24th March 2008, 08:39 PM

Quote:

Originally Posted by beginner_av

Oh Nooooooooo! I thought CV's diagram was only for me and a few of his friends! It is now public knowledge. My edge is gone. CV, CV!

Private stuff, posted on a blog, thats a first one ...

But, then heard stranger things ...

Regards
Sanjay

EDIT: I did think of passing it off as my original work, but then realized abhijit might remember having see it somewhere.

jamit_05 · #14 25th March 2008, 08:49 AM

Thanks for the files SGM. They are insightful.

I intend to keep the planning and execution minimally complicated. No fancy algorigthms, codes or flow charts. No reading fifty books on EWT and all that.

For successfully trading the charts, it is evident that simplicity is the key. However, without compromising on the essentials, like Trailing stops, trend detection and Money Management to name a few.

I invite fellow traders to make groups with this is mind. Else, unity and teamwork will not be possible.

regards,
Amit

jamit_05 · #15 26th March 2008, 03:58 PM

Come to think of it, good group dynamics could probably be all the difference between success and failure.

mgkhadake · #16 28th March 2008, 05:21 AM

hi
good artical keep on

vvvv · #17 12th April 2008, 01:40 PM

main goal - developing a trading plan to earn money & be in profits
imp points to be considered - entry,exit,stop loss,correct identification of the trend
can we catch the top or bottom - never

entry - can be defined or well defined but then is it the correct entry plan??& why so
stop losses - very easy to define & is dependent on ur entry point(initial stop loss)
exits - why do we concentrate on exits??? the market is running on uncertainity..everything in our life is uncertain..this world is running on uncertainity..as i write do i know tht the very next sec i will not die or say after 1 min i will have a heart attack.do i have an exit plan from this world..i will exit when the order cumes from top...similarly i wud exit when market tells me to.i dont know when the market will tell me...so why do i need to have a well developed plan for it..am i not going against uncertainity in trying to be more certain..i like saints approach where he had said in the meet tht he doesnt have any exit plan he will either trail his stops up or exit when his pivot cracks...it may happen any moment...
so is it necessary to incorporate a detailed exit plan in the trading system???

trend - this has to be correct..its like riding on the bus & getting off before it stops

so for me trend identification & my entry point is the most imp thing depending on which i will put my stop loss..if will trail my stop loss according to my comfort level.i will leave the exits to the market to decide.

n.b. - its easier said than done.

uasish · #18 15th April 2008, 08:56 AM

Vikram,

Somehow i am not comfortable in Putting priority for Entry ahead of Stop Loss,though every where it is like that,personally i will decide the Stop 1st before Entry & try to initiate a Trade more closer to the Stop,well this is my subjective defensive approach.

Asish

jamit_05 · #19 15th April 2008, 10:03 AM

Quote:

Originally Posted by uasish

Vikram,

Somehow i am not comfortable in Putting priority for Entry ahead of Stop Loss,though every where it is like that,personally i will decide the Stop 1st before Entry & try to initiate a Trade more closer to the Stop,well this is my subjective defensive approach.

Asish

Okay, so you take the entry only if the stop is attractive? You do not enter based on how good the entry is looking. Now this subtlety I did not "realize" until I read your above lines

I am slow but I am getting there Ashishda.

Amit.

vvvv · #20 15th April 2008, 11:34 AM

Quote:

Originally Posted by uasish

Vikram,

Somehow i am not comfortable in Putting priority for Entry ahead of Stop Loss,though every where it is like that,personally i will decide the Stop 1st before Entry & try to initiate a Trade more closer to the Stop,well this is my subjective defensive approach.

Asish

SIR,
sir it has gone over my small brain.pls give an example with figures for me to understand it better.a very diff approach & an interesting one .