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"As I was watching Kenny Rogers' performance against the
mighty Yankees, I was reflecting on its perfect analogy with
trading, i.e., everything is possible (Black swan) ! The
probability that Rogers would go for 7+ innings without a
run was very small, according to past poor results against
the Yankees. Nevertheless, it happened. Some sport talk
show host in New York, before the game, promised his pal
that he would buy a season ticket for next year season of the
San Francisco Giants, would Rogers go without a run ! (That
pal is a Giant fan). What this talk show host should have
known, as any experienced trader would know, is that you
never go "all in" in this prediction business.
But I guess some people will never learn the lesson, that , yes,
everything is possible."
In the past, I have created a grid trading strategy that returns 30% per year, however, there were huge drawdowns and lots of trades. It almost felt like a martingale strategy because at some point, you feel trapped in huge size that you cannot control. And during those times, the price action had to be perfect to maintain that particular strategy. I never had to cajones to trade like that.
I felt the risk of ruins was too great to trade that strategy, and I never traded it.
Although I'm always testing different strategies to diversify my investments.
I think scalping is one of the hardest strategies to master because the entry and exit has to be impeccable to overcome the spread and brokers. And I refuse to trade a grid or martingale as a long term strategy, I would only use it for short term, high risk, high return scenarios.
I've put in a lot of time and effort in trying different strategies that I find interesting and different. Most of them go down in flames though because the market finds the inefficiencies of most systems.
This weekend, I put the finishing touches to another strategy codenamed "OrangeJulius". It is based on trend following on multiple currencies at the same time. And personally, I love the drink. It will start demo testing this week. Hopefully, this thing will breakeven. My goal is always breakeven.
__________________
Life is a Gamble. You win some. You lose some. And life goes on.
Last edited by Kenny Rogers; 11-02-2008 at 10:49 PM.
How to turn $10,000 into $0 very quickly? Simple, follow THE GAMBLER system.
Losing trades are virtually guaranteed, and a spectacular negative equity curve that will make a grown man cry like a baby. The key is cutting your winners short, and letting your losers run. If I can do it, so can you!
Well, I'll let you in on how I developed this system, it is a pure gambling, non-statistical speculative system that is based mostly on (bad) luck, revenge trading, and the principles of the legendary Kenny Rogers aka The Gambler. And obviously, we never ever trade with a stoploss or profit target. As Kenny might say, stops are for losers.
Execution, you ask? Well, it mainly consists of that (tiny) gray matter in between my ears, and a very powerful index finger developed from owning chumps on Gears of War (Etrade!).
Only after years of pounding cheap whisky to the tune of The Gambler, I was able to unlock the secrets of the mantra:
"You got to know when to hold 'em, know when to fold 'em.
Know when to walk away, and know when to run.
You never count your money, when you're sittin' at the table.
There'll be time enough for countin', when the dealin's done."
and
"The secret to survivin' is knowing what to throw away and knowing what to keep" and that "the best you can hope for is to die in your sleep".
At the conclusion of this prospectus, the investor may be overcome with the profound nature of THE GAMBLER system.
DISCLAIMER: I am not responsible for the occasional profitable side effects of this system, and no money management strategy is utilized to improve (negative) results.
So sit back and enjoy the ride down. Have a nice day!
/cue the music (~The Gambler)
- Sincerely -
JBFX THE GAMBLER,
CEO of Drawdown Inc.
Kenny Roger's #1 Fan.
Yes Kenny... I like your words.. A lot of what I do is based on intuition although I do have tools as well.....
I was sucking on my thumb last night in a perfect fetal position, my equity dropped below $20K, my initial deposit. And I had given back all of my profits ($7K+) that I have worked to get in this whole year!
I could not sleep. Every fiber in my body screamed to shut it down, and figure out what the hell went wrong. I was seriously thinking of stopping because the fear just will give you an ulcer. Times like this is when I wish I was trading OPM.
Anyways, I got up this morning, and it is a little better, got a few trades in the positive now. Trading is a rollercoaster, and it is best to not look at it when you are automated.
And my new OJ strategy is full of bugs, first night testing on demo, down 20%of balance...bummer.
__________________
Life is a Gamble. You win some. You lose some. And life goes on.
Last edited by Kenny Rogers; 11-04-2008 at 06:41 PM.
I have manually closed all of my trades from this morning and shut down my system for the moment. There is some powerful underlying currency shifts occuring in the markets.
Perhaps, it is just the piker in me again. I'm not used to seeing my account fluctuate by the thousands. Last night, I was deep in the red under my initial deposit of $20K.
This morning, I'm back in the black.
I'm shutting it down because I'm asking myself: Am I in control? Or is the market operating outside of my system, and I'm just being lucky here. I may focus on turning my trade size down, and return.
^ M'fing double tops and double bottoms are no longer respected. I feel like Rodney Dangerfield. So now I'm holding the bag like a nub screaming at my screen.
FOR GOD SAKES, RESPECT THE LINE! DON'T YOU DARE CROSS THAT LINE! AWWWHHHH!!!
__________________
Life is a Gamble. You win some. You lose some. And life goes on.
^ M'fing double tops and double bottoms are no longer respected. I feel like Rodney Dangerfield. So now I'm holding the bag like a nub screaming at my screen.
FOR GOD SAKES, RESPECT THE LINE! DON'T YOU DARE CROSS THAT LINE! AWWWHHHH!!!
What up Kenny,
How timely. The TA not working and all that jazz. Sorry buddy... I couldn't resist.
. The TA not working and all that jazz. Sorry buddy... I couldn't resist
. 
Linear Mode
