Topic: Goomboo's Journal - page 42. (Read 281461 times)

The hourly traders should now be sitting on an unrealized profit of 13%.  It is important to stay disciplined in the face of losses and especially in the face of profits.  Even if this trade reverses and you watch your profits slip away, you must stick with the system.

This trade should still be on and you should be sitting (still) at a 5% unrealized profit.

Emotions fly wild when volatility increases.  If you are trading in a disciplined and systematic fashion, the only emotion you should entertain is calmness and reason - all others can be detrimental to successful speculation.

Thank you for your kind words and I wish you the best in your trading.

I really feel that the long-term successful approach to trading is as you put it - mechanically draining the trend.  The author of The Psychology of Trading described successful trading as mastering the arcade version of pinball.  Basically you find a way to extract points from the game by doing something over and over and over again.  Repetitive, mindless...boring :p

http://www.amazon.com/Psychology-Trading-Techniques-Minding-Markets/dp/0471267619/ref=sr_1_1?ie=UTF8&qid=1329002221&sr=8-1

The behavior of traders lately really fed your tactic some extra fuel. Awesome to watch. Certainly beat me on the last week, I just didn't come up with a tactic and stayed conservative -- no losses, but hardly any profits. Mechanically draining the trend hypes probably is one very good tactic in such a situation.

I am reminded of that turtle from Love Hina that can fly at times. Good job on this.

Hourly traders should be sitting on a 5% unrealized profit from the short position initiated 12 hours ago.

The trade should be closed and you should have earned a 2-3% profit.

Those following the trend for the past few trades should have:

-Shorted on Feb. 5th and closed on Feb. 7th = 4% profit
-Long on Feb. 7th and closed on Feb. 8th = 1% loss
-Shorted on Feb. 8th and closed on Feb. 9th = 2% loss
-Long Feb. 9th and closed on Feb. 11th = 3% profit

See why it's an interesting paradox to be a trader?  You only won 50% of your trades - your success ratio was pretty much the same as tossing a coin.  However, in the past 4 days, you've earned a 4% return.  This return is based on price - your actual return on your account will be a function of how much leverage you used on these trades.  For example, 2.5 leverage * 4% = 10% return on account.  Also, this is before commissions, slippage, and the spread...this is a difficult market to trade.

This success ratio is actually pretty high.  As the BTC market becomes more mature, I would expect the success ratio to be more in line with other markets.  A trend following system typically only wins 30-40% of the trades it takes.

Discipline is especially required for system traders - it is agonizing watching a healthy profit slip into a loss or dwindle away as the market slowly shifts against you.  We are not chasing an emotional feeling of success or achievement - we are after consistent and scalable profit.  It's emotionally rough to know with mathematical certainty that every time you take a trade, the markets are against you.  More than likely, you will lose money on a given trade.  Remember the testing we did?  Remember how we examined nearly every aspect of the system?  You absolutely must stick with the system, however.  If you do not stick with the system, this testing is worthless and you are in uncharted territory...frankly, flipping a coin and trading by the seat of your pants.

even god is only a small insignificant part of god

My son is a god, I am a god, we are all gods.

Yet none of us are truly godly, some more then others..... some are devils

And so, only for a time, we fight for our right to be.

  - Enjoy The Ride

 

Keep your eyes open hourly traders - it looks like the short-term trend could be stalling or reversing.

Since the first time of this move, price has closed below the 21 period EMA.

Yeah, I'm really not interested in religious debate - it doesn't accomplish much.

I have my beliefs and I will express them in this thread and you are more than welcome to express yours as well.

Thank you for contributing to the journal!

Thread derailment indeed.this is not the place for this discussion.

Abraham lived 175 years, according to the Bible. (Abraham was born after God made the 120 year declaration, for those of you who didn't know.) Doesn't hurt the faith of any Christians, or the people who passed the words of the book down through millienia.

Talk about a massive thread derailment...

I'm with Goomboo though.

No one is attacking you... at least I'm not. I've only shown you what is written in your own book. how you deal with the contradiction is up to you.

Honestly, I'm a little surprised at the quantity of replies to me standing up for my faith.

Thank you all for your feedback and challenges to my beliefs.

not misquoted. I've got the bible right here in my hand. says pretty definitely 120 years.

That verse is actually quite misquoted - it's widely believed to be generations or family lines, not actual years.  But it's one of those issues that really isn't the breaking points of a believer's faith.  If I had it all figured out, where would "faith" even be?

Thank you for your feedback - I welcome challenges to my faith - it definitely helps me re-examine my beliefs.

I beg to differ, if only for your definition of God as something one could ever be separate from (how silly) & personally i don't humble myself to instruments of torture however symbolic they may be
-Scripture actually teaches that we separated ourselves from God through sin.
-It also speaks of the cross as a very beautiful thing - Jesus humbled himself to death on the cross to pay the penalty that we owe.

I cant find where he said that... are we really doing this? no people!! bitcoin speculations!! go go go

Jesus loves everybody, I have standards.
-- Satan

It sounds like you are your own god.

yeah, not the forum for that discussion, I agree....

but I'll just leave this here:


Genesis 6:3 "Then the LORD said, “My Spirit will not contend with[a] humans forever, for they are mortal; their days will be a hundred and twenty years.”


plus or minus?
http://en.wikipedia.org/wiki/Jeanne_Calment

/troll