Investing | Personal Dev | Homestead | Building and maximizing a life closer to nature | *Posts are not advice
馃寢 Kingdom of Hawai'i
Joined October 2023
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馃崋 boner
Tesla is already pulling away from Waymo in Austin. 438K driverless miles last week vs Waymo鈥檚 406K (Q2 average) even as Waymo had a 5-year head start.
This is going to get ugly for Waymo. Tesla will own the robotaxi industry. $TSLA
Hope you don't leave, but rather maybe switch to verified replies only or subscription for most of your posts?
Society has a certain % of psychopaths, sociopaths and broken people. I think a truly open platform solves for that beyond just pure disagreement. The platforms strengths are it's weaknesses.
I've met some amazing people on X, and you're one of em! Hope you don't go and instead filter out all the negative people who truly don't matter. You were never doing it for them anyway. They are not really your audience.
But if you do decide to leave for good this time, I wish you continued success with the bots, and much Aloha to you and your family 馃尯馃
Movers list
Overall still a bunch of bugs in all the lists, mostly having to do with gates and ranking setups. Takes a lot of refinement of the engine to get the bots to "see"
Still need to tighten up the CSP scan but its grabbing things. I have not focused as much on this one lately. Need to come back to it but at least its automated now and printing
Ive been running backtests on about 30k stock trades on various forms of tightness/consolidation/HTF inside bars.
Crazy thing so far is assuming apples to apples stops etc. tightness even beat RS.
RS still very important but that is a surprising result. My bot has to do more backtests across larger datasets but interesting so far.
is it still a debate? of course Ai poses these risks.
Is it still a big push for governmental protections for Ai companies because they are "dangerous" but also we cant stop development at this point so we need a governmental backstop?
Off-Grid Alchemy retweeted
Focus on tightness
馃摙WEEKEND STUDY RESULTS ARE IN!
Qullamaggie's tightest stops had the fewest winners.
His tightest charts had the most.
Not really surprising. What surprised me was how clear the difference was, and how it affected the avg. R
Winrate based on how wide the stop was:
Tightest: 17% ended green. Widest: 28%.
Winrate based on how wide the 10 days before the buy were, high to low, compared with how much the stock usually moves in a day.
Tightest: 28% ended green. Loosest: 17%.
A loose chart with a tight stop: 9% ended green. A tight chart with a wide stop: 32%.
Resulting avg. R?
Tightest chart: +1.90R per trade
Widest chart: +0.67R per trade
No wonder @Qullamaggie says:
"Wide and loose is for losers, tight is for winners."
Another good example of the importance of risk management and being able to take losses.
Martin Luk, last time I looked was up almost 1000%. His win rate is only around 20%. The win rate doesn't matter much does it?
It's the R multiple per trade, and to achieve that, its tight stops on every trade.
He can be wrong 80% of the time and its basically noise.
The tricky part is new traders are looking for a mechanical system to control risk, and to some extent, your hard stops do that...if you follow your system.
The more difficult demon to circumvent is the internal, the emotional and psychological control. Most new traders go into trading not knowing how much discipline, emotional and psychological control it takes to pay this game.
This also creates the ancillary benefit to trading- getting to know yourself on a very deep level-- Trading will flush out all your demons.
Check out @TraderLion for the full interview.
The cause of account damage isn't a bad setup. It's refusing to take a routine loss.
Martin Luk conducts post-mortems on his worst trades to isolate discipline failures. Small mistakes only become severe losses when a trader breaks risk rules and ignores original stops.
Small losses keep you in the game.
Important concept @NickSchmidt posted about a while back, especially for new traders. You get bombarded with content focusing on setups when it's really mostly just risk management.
Also an important concept to grasp when building AI trading bots.
Also Stephen Covey, although Marcus does predate him
Jerry Seinfeld says worrying about your problems is a complete waste of time and brainpower
"One of his number one things is: if you can鈥檛 control it, don鈥檛 bother thinking about it"
"Somebody gave me this book a couple years ago, Meditations, which has nothing to do with meditation. This is just stuff he jotted down when he was Emperor of Rome, 150 AD. It's the most brilliant philosophical looking at life"
"You鈥檙e taking energy, your brain, away from things you can control. You can control your act"
"On the night of the show, whatever didn鈥檛 sell or whatever the problems are, the sound, you鈥檙e tired... it鈥檚 a waste of time. There鈥檚 no point in thinking too much about it"
"Your success in life: think about what I can do today that鈥檚 important for me in my life. That鈥檚 where you should be focusing. That鈥檚 Marcus Aurelius"