SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Tom Trader who wrote (6)9/22/1996 10:58:00 PM
From: Steve Wood   of 44573
 
Tom, Wiley,

I haven't been trading for as long as you Tom, but I have learned exactly the same lessons so I thought I'd pitch in with a hearty hear hear!

In my experience, successfull trading is about 90% psychology and
money management and 10% deciding what/when to trade. In the interest of verifying that for my self I did a test where I selected 50 random dates over the past 10 years, matched them up with 50 randomly selected contracts that would be heavilly traded on those dates. I took a position at the opening in the direction of the 3 month moving average. I exited on open the day after the price dropped by the three month (64 day) standard deviation of the close or rose by 1.5 times the same std. dev. I realize that this is not a huge sample, but the result was 44% profitalbe trades with an average profit of nearly $100 each after deducting $50 per trade for commissions. Since all trades were on open, slippage was not a factor.

Until about six months ago, I was trying to outguess the market, listening to CNBC 6 hrs a day and doing good to break even. What I learned is that the fundamentals as reported by the media are counter productive. For a classic case in point look at the action of the D-mark after the bundesbank unexpectedly dropped the discount rate by 30 basis points!

FWIW, my system is also short gold and has been for a while now!

Que te vaya bien.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News