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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: booters who wrote (15369)	2/26/2002 8:30:31 PM
From: MechanicalMethod	Respond to of 18137

Boots, I agree price moves rapidly between clusters and I've just thought of a simple way to measure whether it's clustering or moving. Thanks for the idea. MM

To: booters who wrote (15369)	2/27/2002 4:34:40 AM
From: WaveSeeker	Respond to of 18137

This is a great thread because the effect of immersing oneself in technical analysis over many years results in an explosion of creativity in combining simple concepts to create a great trading system or technique. For example, what if I combine an opening range breakout technique with a range ratio to filter out trading days where the reward/risk ratio is too small? I truly believe that traders experience a breakthrough moment or period where all of the disparate technical elements that have been floating around in your head combine to produce inspired, original techniques. Some will get there faster than others, but one day you realize holy sh*t I really can pull money consistently out of the market. You get to the point where all external noise is eliminated - you stop going to chat rooms, you turn off CNBC, you cancel your subscription to the Wall Street Journal. After a while, it's just pure trading. boots, your point about paper trading a new idea is excellent. I have to sit there and watch it tick-by-tick to get a feel for the entries and exits. The trading experience kicks in while this is happening, and it can reveal flaws in the system design, which ultimately leads to a better system. WS