Whats your best pre-race advice when looking at the market?

The sport of kings.
stueytrader
Posts: 863
Joined: Tue Dec 15, 2015 6:47 pm

My own personal advice would currently be opposite to some earlier on this post.

Don't hesitate too much on entering markets. Chances often move and are gone, and hesitation makes you too slow to take them, often.

But, I realise others may give exactly the opposite advice. The beauty of this game.
iambic_pentameter
Posts: 443
Joined: Wed May 18, 2016 1:24 pm

elecotop wrote:
Sun Feb 03, 2019 4:10 pm
iambic_pentameter wrote:
Sun Feb 03, 2019 1:17 pm
Focus on the bigger picture - accept that you need to go through multiple market cycles before you will fully understand what is happening and why.

A significant part of my knowledge has come from reading the posts of others on this forum.

Iambic
I find that JollyGreen's post a very informative. Which posts do you find most helpful?
Hi Elecotop,

The users who posts I've found helpful are - in no particular order, I might add!

JollyGreen
Euiler
Dallas
PeterLe
Gazuty
LinusP
Spreadbetting
Halliday
LeTiss
Mugsgame
To7ne
AndyFuller

Have a read through their posts and you will pick up a lot of good information.

Iambic
stueytrader
Posts: 863
Joined: Tue Dec 15, 2015 6:47 pm

iambic_pentameter wrote:
Mon Feb 04, 2019 11:07 am

JollyGreen
Euiler
Dallas
PeterLe
Gazuty
LinusP
Spreadbetting
Halliday
LeTiss
Mugsgame
To7ne
AndyFuller

Have a read through their posts and you will pick up a lot of good information.

Iambic
Might need to be slightly selective in trying to read all of those posts though, only the odd few thousand to get through..... :) :geek:
iambic_pentameter
Posts: 443
Joined: Wed May 18, 2016 1:24 pm

Stuey :mrgreen:
mobius
Posts: 203
Joined: Wed Oct 18, 2017 10:15 am

Flashback Express - it's free (my favourite price) will record forever and can playback multiple monitors at 4x speed.
Hang on a mo' I ;) 'll fire up and show.
mobius
Posts: 203
Joined: Wed Oct 18, 2017 10:15 am

Sorry for delay won't upload without saving as .gif . Thats 3 monitors - one-click and overview (LEFT Screen) Ladder (RS) Admin(guardian and watchlist) (Bottom)(Laptop)- the clocks show the times and countdown. The brill factor is you can replay/record at 4x and then replay the replay at 16x so a four hour afternoon can be reviewed in 4hrs/4=1hr/4=15mins

Downside - filesizes in GIGABYTES
Processor fan makes funny noises :cry:
It's taken me longer to cobble this message together than record that lot check out the clocks/countdown/timestamp!
;)
DEMO FLASHBACK gif.GIF
You do not have the required permissions to view the files attached to this post.
mobius
Posts: 203
Joined: Wed Oct 18, 2017 10:15 am

oops that was a notification from yesterday
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ruthlessimon
Posts: 2094
Joined: Wed Mar 23, 2016 3:54 pm

iambic_pentameter wrote:
Mon Feb 04, 2019 11:07 am

JollyGreen
Euiler
Dallas
PeterLe
Gazuty
LinusP
Spreadbetting
Halliday
LeTiss
Mugsgame
To7ne
AndyFuller

Have a read through their posts and you will pick up a lot of good information.

Iambic
stueytrader wrote:
Mon Feb 04, 2019 11:25 am
Might need to be slightly selective in trying to read all of those posts though, only the odd few thousand to get through..... :) :geek:
Couple to get ya started

1. Euler (market analogy)

viewtopic.php?p=157286#p157286

"If I was in a bike race I'd train hard, understand the course and also look at how I think it would be ridden and if I can gain a few seconds here or there. But if the market were a bike race you would have loads of people who didn't know how to ride, some not knowing that you needed a bike. Others who had not ridden the course. Some are terribly unfit. You only need to finish in the top 50% to 'win' in this race. To try and be the outright winner is really a major ask as it would be like competing to win a gold at the Olympics.

Curiously, I use an app to do virtual racing against other mountain bikers. There is a three-mile loop through the forest nearby that I've held the best time for the last four years, it resets each year. I know what ground conditions give me the best time over the course so if the ground conditions are poor I'll do another course and practice stamina, speed or climbing. When the ground conditions are good I'll switch to that course and do a timed run. There are several points on the course that are 50/50 if I can pull them off, each will shave a few seconds off my time. If I get all of them and my body is up for it, then a clean run will be right up there.

But the nasty bit is the ridge overlooking the forest. In the middle, there is an oak. If I dive right and get it just right I can just squeeze through at full pelt. If I clip the Oak I will crash and tumble off the ridge. Whether I attempt it all depends on how confident I feel that day and if my time is good enough to have a shot at the best time. That's more or less how I trade the big races."

2. Xitian (backtesting/backend dev)

viewtopic.php?p=173695#p173695

"Writing a backtesting simulation system might take a couple months depending how much time you spend on it? Imagine how many years you could use it in future though, and how many ideas you can trial. Just make sure you keep some out of sample data, and make sure you know what assumptions you’re making when you backtest/simulate."

3. Dallas (why edges/opportunities work - PC justification)

viewtopic.php?p=135451#p135451

"Its the steady stream of new ppl entering the market replacing those that have given up (traders and punters) that keeps the volatility and opportunities there"

4. Euler (edge development)

viewtopic.php?p=158044#p158044

"I think the answer is quite simple really.

When I first started trading I went for the one fits all approached and just tried a generic strategy across all markets. I then started cutting out errors, basically where my biggest losses were, and that led me to a selective approach for that strategy.

I would then try another strategy on just the markets that didn't seem to work and repeat the process until solved.

I now have hundreds of variations of individual strategies aligned to specific markets and scenarios.

I would recommend focusing on one problem until you solve it then branch that to new variations."
Emmson
Posts: 3363
Joined: Mon Feb 29, 2016 6:47 pm

You have to be open minded when taking in advice on here as false trails have probably been set, Euler imo far and away the most insightful. and consistent in their advice.

I also found that contributor called ferru/iron/jeff and his inquisitive mind rather helpful. All the juiciest threads seemed to have him in them when he is drawing out responses from others.

Switesh. James1st have made some good contributions on here imo
arbitrage16
Posts: 532
Joined: Tue Feb 14, 2017 7:27 pm

"It's good to learn from your mistakes, it's better to learn from other people's mistakes."

So says Warren Buffett. And he's absolutely god damn right. There is a weird dynamic on this forum that believes the idea of paying someone to teach you how to trade is somehow cheating, as if it's the more honourable way to slog for an extra couple of years in order to figure it out yourself.

Bullshit!

Part of that reticence is no doubt due to the number of shysters and snake oil salesman that abound wherever there is (seemingly) easy money to be made. Find the people who purport to be experts, do thorough due diligence and find the guy - believe me they are out there - who knows what he's talking about and go and learn from him.

I did precisely that and I know I would never have figured out in 5 years what they were able to tell me in an afternoon. To be frank, I now see established people on this forum pontificating about how to trade and given what I have learned from established traders it is very simple to see through their shaky veneer of 'knowledge'.

When you start mixing with these established traders and come to understand the sheer graft that they had to go through to attain the knowledge they are now passing on - for a fee - you realise that the smartest back bet you ever placed was on finding someone who understands the market and soaking up everything they are willing to pass on.

To answer the question of the post in another way - screen record every single trade you do.
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ruthlessimon
Posts: 2094
Joined: Wed Mar 23, 2016 3:54 pm

arbitrage16 wrote:
Wed Feb 06, 2019 10:16 am
I did precisely that and I know I would never have figured out in 5 years what they were able to tell me in an afternoon.
Where's that James O'Brien quote

"Trading is really confusing, it's really complicated. I've always liked overthinking things. I've always liked finding the little keys that unlock complicated ideas. They rarely exist, but the search for them is how you find the substitutes. How you find the succession of keys you need; to unlock a succession of locks. You think there's one, start with a simple premise; then you've written a whole book."

- p.s. he doesn't actually trade, I just swapped the word politics

He is a bit 'o a tosser though :D
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ruthlessimon
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Joined: Wed Mar 23, 2016 3:54 pm

This'll be a bit random if your not a cyclist; but it's the same premise.

Yes, you can be taught stuff (i.e. how to train, what metrics to track)

But you've still gotta hurt, to make those gains. & that pain, is part of the satisfaction (or maybe I'm just a masochist!)

https://youtu.be/KZOendlfxFA

I would attribute 5w/kg, to a 6fig+ trader
eightbo
Posts: 2154
Joined: Sun May 17, 2015 8:19 pm
Location: Malta / Australia

ruthlessimon wrote:
Wed Feb 06, 2019 10:05 pm
This'll be a bit random if your not a cyclist; but it's the same premise.

Yes, you can be taught stuff (i.e. how to train, what metrics to track)

But you've still gotta hurt, to make those gains. & that pain, is part of the satisfaction (or maybe I'm just a masochist!)

https://youtu.be/KZOendlfxFA

I would attribute 5w/kg, to a 6fig+ trader
Enjoyed that. Agree with setting that impossible goal and learning to love the process. Thanks for sharing.
SweetLyrics
Posts: 207
Joined: Sat Jun 16, 2018 7:57 pm

Emmson wrote:
Tue Feb 05, 2019 10:36 pm
I also found that contributor called ferru/iron/jeff and his inquisitive mind rather helpful. All the juiciest threads seemed to have him in them when he is drawing out responses from others.
Shame he got banned, though I think on one level he welcomed it. :lol:

I'm sure that he will appreciate your comment if he still visits the forum.
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Dallas
Posts: 22674
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

SweetLyrics wrote:
Wed Feb 06, 2019 10:38 pm
Emmson wrote:
Tue Feb 05, 2019 10:36 pm
I also found that contributor called ferru/iron/jeff and his inquisitive mind rather helpful. All the juiciest threads seemed to have him in them when he is drawing out responses from others.
Shame he got banned, though I think on one level he welcomed it. :lol:

I'm sure that he will appreciate your comment if he still visits the forum.
He wasn't banned he asked to be removed from the forum along with his posts
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