tools of a trading pro

oilman5 · #1 2nd May 2007, 04:22 AM

i dont know,whether i am right to write here....forbidden art of trading will be exposed here.many a pro r available here in this great forum...i request them to make comments.
1. why they r superior ?
2. what time frame they trade?
3. how far they r subjective in trading ?
4. what r the reason for their actual consistency ?
5. on what condition they dont trade ?
6. what is their contingency plan[enough is enough..now i am booking loss]
7. what self sabotage u find most difficult to overcome..yet how u have done it ?
8. do u think beginner trader[4yr amateur] can be like u oneday ?if yes. HOW!

oilman5 · #2 2nd May 2007, 04:51 AM

WHO AM I TO ASK THIS QUESTION ?
NOBODY.THATS WHY I AM ASKING.i find traderjiforum is excellent.many novices have reached beginner level...beginner to sporadic money earner.
some enthuastics may move further ..if many a great soul[real pro]put their
hand...to bring light further.
as after journey of a trader' and trading system for beginner' i have nothing to offer...so i am appealing to THEM.
THESE GREAT TRADERS HAVE PRO IN REAL SENSE ...HELP MANY INDIVIDUALS
BY POSTING AND ANSWERING REAL SOLN. THEY ALSO DONATE FOR A CAUSE.
here is another cause to help young trading buddies...cause to make traderji forum sharper.
ALL OF THEM KNOW TRADING IS AN ART. ALL THEM COMPLETED JOURNEY PATH...HAVE A CRAFT..TO TAKE MONEY OUT OF MARKET..DEFINITELY HAVE STD RELIABLE INFO SYSTEM, AS WELL AS DECISION MAKING LOOP...CAN DEFINITELY HANDLE SITUATION IF WENT WRONG[normally dont boost]

hence i request them to answer those question

with regards
oilman5

ratan jain · #3 2nd May 2007, 01:07 PM

Very Very good questions,,

hey oilman........u will go places in this industry.

I anyone can ask such good questions.........it means he has accepted that something needs to be changed in their behaviour.

Most learners just feel that the market is betraying them when they are making losing trades, and they dont ask thses questions to find where they are sabotaging themselves.

excellent post

oilman5 · #4 3rd May 2007, 09:19 PM

hi all pro,
oneday past...no reply yet.one has not to tell system..only..his gen true answer to some queries.it shall help all members..and traderji forum

CreditViolet · #5 3rd May 2007, 10:17 PM

Quote:

Originally Posted by oilman5

i dont know,whether i am right to write here....forbidden art of trading will be exposed here.many a pro r available here in this great forum...i request them to make comments.
1. why they r superior ?
2. what time frame they trade?
3. how far they r subjective in trading ?
4. what r the reason for their actual consistency ?
5. on what condition they dont trade ?
6. what is their contingency plan[enough is enough..now i am booking loss]
7. what self sabotage u find most difficult to overcome..yet how u have done it ?
8. do u think beginner trader[4yr amateur] can be like u oneday ?if yes. HOW!

Well, here is a quick answer

The fact of the matter is most "pros" in this business do not make money. The amateurs don't have a chance. It's not impossible but you can just say its 'survivorship' bias. Most of the investors and traders are just accidents i.e catching a move by accident or some tip,btst etc. Its ultra rare to find people that make consistent money every month after accounting for risk

oxusmorouz · #6 3rd May 2007, 10:55 PM

Quote:

Originally Posted by CreditViolet

Its ultra rare to find people that make consistent money every month after accounting for risk

Hi CV,
How can we objectively define risk (especially for a rapidly changing portfolio)? Text books which use the CAPM, Sharpe ratio seem to be adopted for a static portfolio (more for buy and hold rather than active trading). Also, shouldn't active traders deserve a high risk premium because of the time spent in trading and because of the high degree of uncertainity which surrounds one's return?
(Forgive me if my question is sub-standard)

Obliged,
Oxymoron

oilman5 · #7 3rd May 2007, 11:08 PM

hi cv,as u given the answer before...with ur permission only it shall come to broad daylight...but if sufficient answer..i get ..then only i submit u to as a critique....how far they can withstand test of market...

with regards
oilman5

CreditViolet · #8 3rd May 2007, 11:34 PM

Quote:

Originally Posted by oxusmorouz

Hi CV,
How can we objectively define risk (especially for a rapidly changing portfolio)? Text books which use the CAPM, Sharpe ratio seem to be adopted for a static portfolio (more for buy and hold rather than active trading). Also, shouldn't active traders deserve a high risk premium because of the time spent in trading and because of the high degree of uncertainity which surrounds one's return?
(Forgive me if my question is sub-standard)

Obliged,
Oxymoron

hi oxy
I was talking in terms of a benchmark, which could be anything of one's choosing.A modified Sharpe which accounts for semi-variance is also a good measure.
About activity, I think again it boils down to the basic R:R, Efficiency and Std.Dev of returns after accounting for the frequency of trading.Shouldn't be much different than the standard measures.

Rgds

CreditViolet · #9 3rd May 2007, 11:36 PM

Quote:

Originally Posted by oilman5

hi cv,as u given the answer before...with ur permission only it shall come to broad daylight...but if sufficient answer..i get ..then only i submit u to as a critique....how far they can withstand test of market...

with regards
oilman5

I was reading Demark's interview recently, I think it makes sense in the context of the discussion here

Ninety-nine percent of the people in the business are followers. They’re not creative and they’re not willing to rely upon themselves to make decisions, so they rely upon other people. When the decision is right they take credit for it, and when it’s wrong they point fingers at other people. And out of that one percent who do make their own decisions and create their own tools, 99 percent of them are going to be wrong, so you’ve got about one-tenth of one percent that are going to be right.The market is [full of lemmings] :everyone feeding off one another, following the media, and following a trend.

uasish · #10 4th May 2007, 12:01 AM

Hi,
CV is absolutely right it is Survivorship bias.Understanding Risk as a concept,systematic /unsystematic & seperating the mkt wide Risk factors from Stock specific ( Asymmetric Volatilty ),Continuously understanding & Managing RISK is the one major key ,for survival,which i am failing to grasp.
Volatility ,offers more Heat,also high chances of getting burned.Understanding it becomes impossible,hence specific price point "Inflexion point" & timing that Entry at that price point requires lots & lots of confidence,(most of my Entries are Counter trend)which needs conceptual upliftment,which i am trying desperately !!
Yes ,miniscule or ok, i am earning every month consistently,after i changed from Intraday to 5-6 days Swing.Detaching myself away from screen daily,in specific interval ,helps to look dispationately.
Will never enter ,even after getting signal if not comfortable in a particular price point.Followed Tata Elexsi entire day ,to-day but could not get 309.60 to 310.20.
Self sabotage is as Saint said being "Right" ,however mkt instantly humbels.Still at the beginner stage in this "Snake & Ladder" game.

Asish

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