The main question is why not taking a position in GDX or closing it earlier?Originally Posted by mingpan.lam
I entered into a second GDX position at arund 54 and closed it at about that price, but kept the initial GDX position as per the robot's instructions.
For me, keeping a long GDX and a short IWM is sound, because it hedges against any sudden market melt down or melt up.
Pascal
Hi Pascal,
During December, we have a couple of lose trades and one of the reason is probably due to the low volume during holiday. I just don't have the confidence. And just after the holiday, I decided not to follow the first GDX signal and I know it was a wrong decision.
Trev : what's the reason for you not following GDX?
Cheers,
Ellis
Hi Ellis,
I sold GDX due to Pascal's comments indicating a sell because the RT MF crossed below the signal line on Jan 19th and I did not get a chance again to buy because the signals have been Neutral since then.
Trev
Trev
It took me years to learn to write. I'm not alone. Everyone takes years. Everything must be learned: penmanship, spelling, grammar, structure, arguments, notations, and eventually style.
I know, too, it takes years because I've taught many writing classes. (I know. No one could guess it from the error-prone prose I sometimes let loose on this forum). In classes, I have presented all I know, including my tricks. Students seemed to understand during classes; they solved the problems I gave them; they worked in groups; they made presentations about some aspects of writing and so forth. However, when I received their formal essays, I would find mistake after mistake that I had specifically taught them not to make. This was always expected but still very disappointing.
Eventually, I would teach my students to write from simple structures first. Subject, verb, object. Subject verb object.... Such an emphasis on the ABCs of writing rarely went over well with students. People generally don't like enforced humility. Ultimately, anyone who truly develops the capacity to gather and develop an idea within the conventions and structures of a language has learned to execute with the precision of an advanced computer program. No one learns entirely alone, but everyone who succeeds learns to learn how to write.
I think something similar happens with trading. All the experienced traders in this group have learned to trade. Some do so with flare; others are methodical. We lesser traders should be in awe of their fluid and focused talents. But, based on my experience, I guarantee that many of us would not achieve the same results as the masters here even if we were told exactly how to trade. I know this as a teacher of writing, but I also know this as a trader here. I have yet to replicate precisely a robot trade without leverage from start to finish! And yet, the back tests and the experienced traders all say the same: over time the robots will work. They also say that the market is itself a relentless and unforgiving teacher; it provides perfect and very timely feedback. But when one does it right, the rewards are heavenly.
So, dear friends, we need to straighten up and fly right. If we can't achieve good results with the robot guiding our every choice, we should either resolve to follow more precisely or choose another writing instructor. The flare and the grace of experienced hands will come only to the dedicated and only to those are willing to take the time necessary to discipline themselves to the dictates of the market. How long will it take? Answer: as long as it takes!
Last edited by nickola.pazderic; 01-27-2012 at 08:53 AM. Reason: Message originally posted... at 02:50 AM! :
I made a discretionary exit at the bottom (looking at the RT MF drop), and GDX took off without me. Re-entry made sense upon reversal, but I waited for the robot to show statistical edge for re-entry - which it did not. A hedge still seems sound, but after today's jump it feels 'too late'... Mixing a mechanical system with discretionary decisions rarely worked for me; regardless of the outcome of the initial deviation from the system, it is difficult to figure out what is the right follow-up discretionary decision in order to 'get back in sync'.
Same thing happened to me, and I agree with your thoughts. I like to keep discretionary trades discretionary and mechanical trades mechanical. It is difficult to get the full benefit of a mechanical system that you have tested without following it mechanically post-discovery, after all.
Here's an interesting read that is relevant to some of the feelings shared here:
http://news.morningstar.com/articlen...195.xml&part=1
Last edited by asomani; 01-27-2012 at 05:13 PM. Reason: gave wrong URL
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