[MightyMouse]

Originally Posted by Kiwi »

Bias is a funny thing (except when its xxxxing you up).

One thing is to be very careful of significantly higher timeframes. If trading 5m then looking above 15-60m puts you into a world of hurt, looking for trades that never happen - even 60 can do that. One of the easiest ways of dealing with bias is:
- put an ma in the 20-40 range on your chart (I am fond of 34, others like 20 or 21 or 18)
- keep reminding yourself that you'll be biassed and maybe even write down what it is currently
- keep reminding yourself how well it worked for you in the past (maybe have 3 charts in your folder marked up with particularly excellent examples).
- then having accepted that your bias is short but it never helped you ... trade in the direction of your ma

Glad you liked the Al Brooks reference. I just gave it to another person here who had been using floor trader method (which I started with too) but found it a bit weak when the intraday noise intruded on it - Al lives and breathes that noisy space.

Does Al Brooks know how to make money or is he a trading junkie who wrote a book about his experiences trading indexes?

[Kiwi]

Is anyone on the internet not a dog? Is a person really what he says? Or who he says? Can one photoshop large arrays of monitors from one's trailer park. Is the attached photo really my view when I leave my study to make a coffee?

I have no proof of his effectiveness at all. But unlike most people he actually discourages buying his book - he says he makes little money from it and that he wrote it very quickly making it hard to read. Bizarre given how many other badly written hard to read books are out there (anyone deja vuing on Mark Douglas's books). Also, unlike most he doesn't seem to attract that sort of guru criticism. I can usually smell them a mile away including the frauds such as we have here but I have yet to pick up a whiff of the stench.

My recommendation isn't based on knowledge of his profitability. It is simply that when I saw his stuff it is very similar to the best of my stuff. Also pretty similar to how I think Brownsfan trades. And similar enough to what Attila wants to do that it should reinforce his best rather than hinder him. The other thing I liked was that I got a couple of ideas that fit into "my stuff" which worked and improved me a little. Other ideas I haven't even tried as his book is a bloody awful read and his videos are not "tony robbins" style ... I can only take a little at a time.

.

[Attila]

Originally Posted by Kiwi »

Bias is a funny thing (except when its xxxxing you up).

One thing is to be very careful of significantly higher timeframes. If trading 5m then looking above 15-60m puts you into a world of hurt, looking for trades that never happen - even 60 can do that. One of the easiest ways of dealing with bias is:
- put an ma in the 20-40 range on your chart (I am fond of 34, others like 20 or 21 or 18)
- keep reminding yourself that you'll be biassed and maybe even write down what it is currently
- keep reminding yourself how well it worked for you in the past (maybe have 3 charts in your folder marked up with particularly excellent examples).
- then having accepted that your bias is short but it never helped you ... trade in the direction of your ma

Glad you liked the Al Brooks reference. I just gave it to another person here who had been using floor trader method (which I started with too) but found it a bit weak when the intraday noise intruded on it - Al lives and breathes that noisy space.

As far as bias goes I am half-way there by not taking the long BUT waiting for the short.

Time-Frame wise fully agree and as of last week I am down to a 3 minute chart with a slow ma representing the trend of the 15 minute. In the morning I mark in relevant S/R levels and during the day keep reminding myself as a day trader I need no additional information.

[MightyMouse]

Originally Posted by Kiwi »

Is anyone on the internet not a dog? Is a person really what he says? Or who he says? Can one photoshop large arrays of monitors from one's trailer park. Is the attached photo really my view when I leave my study to make a coffee?

I have no proof of his effectiveness at all. But unlike most people he actually discourages buying his book - he says he makes little money from it and that he wrote it very quickly making it hard to read. Bizarre given how many other badly written hard to read books are out there (anyone deja vuing on Mark Douglas's books). Also, unlike most he doesn't seem to attract that sort of guru criticism. I can usually smell them a mile away including the frauds such as we have here but I have yet to pick up a whiff of the stench.

My recommendation isn't based on knowledge of his profitability. It is simply that when I saw his stuff it is very similar to the best of my stuff. Also pretty similar to how I think Brownsfan trades. And similar enough to what Attila wants to do that it should reinforce his best rather than hinder him. The other thing I liked was that I got a couple of ideas that fit into "my stuff" which worked and improved me a little. Other ideas I haven't even tried as his book is a bloody awful read and his videos are not "tony robbins" style ... I can only take a little at a time.

.

Nice view Kiwi from your study.

I wasn't criticizing your recommendation. I was just wondering if he actually makes money trading. And, certainly, you can learn how to trade from someone who cannot trade for a living if he doesn't trade for a living. If you can pick something up from his style and make it yours that is all that counts.

MM

[Attila]

Statement for 09/14........

[Attila]

Today's Journal.. Encouraging.. Good to see System very effective so far 10 (1 scratch) out of 11 winners.. Can't wait for a different environment (news) to see how it does. Reached 3 trade limit and quit..

[Lazarus]

Originally Posted by Attila »

Today's Journal.. Encouraging.. Good to see System very effective so far 10 (1 scratch) out of 11 winners.. Can't wait for a different environment (news) to see how it does. Reached 3 trade limit and quit..

you using a new system?

[rluc99]

Originally Posted by Attila »

Today's Journal.. Encouraging.. Good to see System very effective so far 10 (1 scratch) out of 11 winners.. Can't wait for a different environment (news) to see how it does. Reached 3 trade limit and quit..

Apologies if you have already explained, but why aren't you trading your system?