Well for years now, I have been getting the latest updates from eASCTrend about what I am missing from them. The reason I get these endless emails is simple, like so many people I tried their toys one time. I mean it looks so easy, just buy on blue and sell on red...RIGHT. They even use a trailing stop auto thingie so you don't even have to think about where to place a stop to lock in those huge profits on every trade.....now how cool is that.
Of course, these charts were curve fitted to make it look like it's the only holy grail out there, but beyond that, let's take a look at this chart. You can click on the chart to make it bigger if you have to....
The first big ole blue dot on the left is of interest.....you enter the trade and using the horizontal blue line as a stop.......you got stopped out.....below your entry price......now I call that a LOSER....LOSER.....Ok......so the dang thing just kept trailing up.....and you're kicking yourself because you got stopped out.
NO PROBLEM, you say...I'll just wait for the next trade.....then we get a red dot and the "RED" bar and we go short.....using the red horizontal line as a trailing stop......how easy is this. Now look closely, because we got stopped out again about 10 bars later. This holy grail system just keeps on printing trailing stops and even moves the stop up after we got hit. Then you get the move down and again you are faced with a LOSER....LOSER....LOSER and the system is kicking the cash out of the curve fitted ATM machine.
Now we have to wait for the next trade, there it is, a blue dot and the "blue" bar and we are long, how easy is that. This one worked of course, but the real question is......faced with the results so far would you have the stones to take that last trade.
Ever sit there, chase a trade and lose, entry a trade and get stopped out before it move in your direction without you and lose, follow someone in a chat room and mirror their trades and somehow lose and feel like nothing you do is ever right or ever will be. HELL, YES if you're honest with yourself and you know that. The holy grail is not in some system, but between those ears of yours..........
If you are trying everything you can to get over the hump only to find the hump is turning into a mountain.......then it has to be something else...RIGHT?????
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2 comments:
Hey Dennis,
How do go into your blog archives? I want to show someone the design for your staircase where u had different animals carved into it. Thanks!
Hi Dennis,
Indirectly related to your post, I was just browsing over at the TradeMaven site, specifically, the autotrading program, AutoMaven, and skimmed the user's manual as well as W's forum on the same subject.
My question is this:
Why aren't the W camp who are using this program jumping up and down, showing brokerage statements of how great their edges are working out because they're getting in "before the world" and their emotions aren't getting in the way from reacting? I mean, it should be a veritable ATM machine with all of that good CCI / 34 ema stuff wired in to the teeth....right!?
The only one getting rich appears to be TradeMaven, LLC who, at $99/mo for AutoMaven, are raking in the moolah.
Markets are dynamic. Humans are dynamic. In relative terms, computer programs are static. You can have all of the AutoMaven states and conditions you can think of and there will still be great moon crater-like holes in the logic because of one very important element: computer programs cannot think for themselves based on acquired experiences.
There are no shortcuts. You have to rise above the mechanical aspects of trading and get a sense of feel for what the market is doing dynamically. That takes a person (not a computer) who has to confront and overcome his/her fears in trading and either succeed or fail based on HUMAN ability.
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