Only a room full of high-salary business people could produce a mission statement so worthless. Of course they meant well, but in the end they just didn’t know what they were doing. Unfortunately, when I talk to traders about what they want to achieve, I hear equally well-intentioned yet equally useless statements. My background in business helps me keep a straight face (figuratively, since the exchange is always over e-mail or instant messaging), but I’ve been meaning to write an article about this topic for quite a while.
Reading this compelled me to take this opportunity to say the following:
I have definitely been one of those, as an aspiring trader, to whom Richard refers. But I have also made MUCH progress in this game and...
I owe much of it to all of you, your knowledge and expertise as traders, your exceptional personal character, and especially your patience with quirky individuals such as myself.
That's the short story, but I wanted to take a moment to give credit where credit is due."
A lot of people have been wanting to practice their EOTPro
trading in ninjatrader’s replay mode. Unfortunately, a few of our
tick-by-tick indicators haven’t worked for replay, though. Well, I’ve
finally had time to investigate, and with the help of one of our
clients, I’ve made the adjustments needed for everything to work
correctly.
Here’s a screenshot of Bill’s arrows, and the chopometer, etc, on replayed data:
Granted this Client is still working on his plan, however by using a setup he is comfortable with and implementing Bill's methodolgy as a dual confirm to his own trading plan - he is finding some success with great happiness!
"HEY SHELLY :) Ended the day with 15.75 points... 3 break even and no losers. I missed a dozen good trades due to the phone.,,, Yesterday I was up 7.5 points.. And keep this in mind... I'm a newbie with very limited skills.. But what is real cool is what Bill has taught me .. We always used one car and set our limit and stop on 2 points.... Now I enter with 2 cars take profit on one point and let the last one run. Bail the second the trade looks like it may go bad... Also I'm also (trying) to use Bills entry method.. Color trading (not the auto trader ) We use 7 entry levels.. with the indicators, now I can cherry picked every one of them. If this works out.. I will be able to place about 30 trades a day in any market condition... You have no idea what this means to me... What Bill and you have shown me so far and the indicators... Its... "Every thing"...... I'm thinking I may have a chance at making it as a full time trader now..
I would love to tell the world you guys are for real... Not the "send the mega money" and trade the dots type scam... What is most important is the fact that you teach us how to trade, not just use the awesome indicators.. the wisdom of why not to take a certain trade is an invaluable lesson to a newbie trader.. My mentor has been trading for 20 years, he is a highly successful scalper. He's studied under and is on a first name basis with Joe Dinapoli, T.H Murry, Nigel Hawkes just to name a few.. Bottom line.. he says your indicators paint an instant picture, Some thing he's had to do in his head on the fly using Volume spread annalists for many years now.. Hmm I don't even want to mention who referred him to EOT. So Shelly you never know who is attending your trading room...You probably know the type, never says anything just kinda hangs around for a few weeks.. But one thing for sure.. So far the ones that my mentor knows... they were very impressed...
PS... If I keep this up... your going to have about 7 new members in the room... And a few of them will be eating humble pie for "poo pooing" the indicators......"
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