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Author Topic: Naked Chart Trading  (Read 25651 times)

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HC

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Re: Naked Chart Trading
« Reply #60 on: March 05, 2009, 08:43:16 AM »

Ha ha, it is interesting that different people look at the same thing and see differently.  This is what I read from that posting of fti you mentioned:

Section 1:
I don't know exactly what fti meant when he said spiral within spirals, buy my understanding come from "there is no rules, it depends on experience."

Section 2:
The changes of lot sizing sequence varies, dependent on a few factors:
Factor A: form: traders mindset, skill, experience and ability to pace the market
Factor B: shape: chart pattern/terrain, volatility, speed of price move
Factor C: book: realised or unrealised profit
When Aggressive, skip fibo sequence to right.  Eg: 1, (skip 1, skip 2), 3, 5, (skip 8 ) 13.
When defensive, skip fibo sequence leftwards to the left. Eg: 1, 1, 1.  Or Eg: 1,1,2,2,2,3,5
The main point: there is NO RULE!

The highlighted word echo the same point.  For beginner, leave the skipping part out first.





Perhaps the best that I can understand from what both you and fti are saying may be illustrated by the example below:

1,1,2,3,5,-5,-3,-2,2,3,5,8

Would that be correct?


Yes. I even break it out as if chart and my time permits:

Round 1: 1,1,2,3,5,-5,-3,-2,-1,-1 and then redeploy round 2 scout if there is chance.
Round 2: 1,1,2,3,5,-5,-3,-2,-1,-1, and then redeploy round 3 scout if there is chance.

There is no rule.  Do as chart/time/stimina permits.
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HC

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Re: Naked Chart Trading
« Reply #61 on: March 05, 2009, 09:11:14 AM »

I think I got to mention my live account trading experience on this method.

After demo for about 2 months with satisfactory result, I can't wait and went live trading.

1st month, I net off with small loss (-US$76).  Reason: I was not solely trading this method, and still looking at other trading methods.  Though the "net loss" all come from trading this method, the transition from demo to live trading has some impact on the mindset, even I started with a reduced size compared to demo size.  Also I only traded a few sessions is one of the reason (I started late that month).

2nd month, net loss again, - US$82.  Reason: I under-estimated the time required to babysit the positions and have to close them as I have to attend other issue.

3nd month, net loss again, -US$182.  Reason: One failed rescue, due to poor mindset and lack of skill.  Unable to babysit due to disturbance during trading.

4th month till now (this is the 8th month), all ended positive, clocking some 8% each month.  Last month was 6% as I was away for a week.  I have not only recovered all the loses when started this method, I also recover my loss of trading another strategy that I paid thousands dollars of fee to learn (that is another story).  I am currently trading only this method.  And this month I just up my scout size to 1% from the previous 0.5% of the leveraged account size.

As you can see, though my equity is making new highs, my result is not good compare to other fti's student, I am still working on it.  I see myself improved in pacing the market and keeping the open drawdown lower.  Currently I only see about 2-3% open DD max, typically <1%, even though my scout size is doubled.
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jjs

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Re: Naked Chart Trading
« Reply #62 on: March 05, 2009, 12:18:08 PM »

I think we read and understand the same essence, ie to to scale out or wind down positions when the terrain is difficult and re-assert when the chart is in our favour. :)
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HC

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Re: Naked Chart Trading
« Reply #63 on: March 12, 2009, 08:56:08 AM »

Here is another chart commenting on trading direction by auxesis in TAF lounge.
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HC

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Re: Naked Chart Trading
« Reply #64 on: March 17, 2009, 04:16:08 PM »

2 months after fti doubled his account (see http://chartistsunited.com/forum/index.php/topic,547.msg2864.html#msg2864), this is his latest performance update.



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