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2023 Markets and Best Dressed List Review – January 2024

Overview 
  • Video recorded live on January 3, 2024
  • Review of 2023 01:11
  • Best Dressed List 19:05
  • Lessoned Learned 01:01:59
  • Q&A 26:15
Live questions from Members  
  1. You released a 1989 MTA Journal article, "Classical Charting Principle". In it, you outlined two trading approaches you had used back then. I'm wondering about the 1st approach, "Every Pattern Trading". You no longer trade it that way. Can you share what the reason is? Is it a change in market behavior, or is it simply you're tired of trading so many signals? 01:06:21
  2. In many creative fields, professional performance slides after the late 40s and declines rapidly after the mid-60s. From your performance, it doesn't seem that way at all. Do you consider yourself an outlier? Or is trading actually age-unrelated? 01:09:06
  3. How does Peter select the contract month for trading, such as choosing the May contract over the April one for the recent Soybean short? 01:12:13How do you decide which rollover method to use when charting continuous metal futures (gold, silver, copper)? The nearby contract is not a useful proxy for spot because of contango, and the charts posted on Twitter and Weekly reports have at times used Trade Navigator 055, 057 and 065. Could you explain your reasoning for choosing between those rollover methods when trading metals?
  4. How do you keep from repeating the same mistakes? I frequently loosen my stops? EG gold today; where were were/are you stops for gold today if you don't mind my asking. 01:15:05
  5. Regarding Avg Gains and Avg Losses on your Metrics page, at what threshold do you bucket breakeven trades into winners or losers? 01:17:41
  6. If we don't trade futures, what ETF would you trade for Japan? 01:18:38
  7. Can you please comment on entering an intra-day breakout as opposed to waiting for the close (as it relates to false breakouts)? 01:19:09
  8. Is there any possibility of Peter explaining ATR confirmation? 01:22:06
  9. Why did you stay in the Robusta trade rather than exiting completely at the target? 01:23:06
  10. How is Factor trading structured? What do you look for in an accountant who knows trading companies? What brokers are used to trade some of the more obscure futures, like those on the London and ICE exchanges? Is this all through IBKR? 01:23:52
  11. Do you have an opinion on AI being able to either compete with or enhance your process? 01:25:49
  12. How do you handle action like in the ZB pattern, with early breakout, which then retests deeply within the pattern, before working again? 01:27:04
  13. Is a pattern retest valid for a first entry, even though it may be a stop-out for an initial breakout position? ie, How will you manage the stop on the Soybeans trade if it retests? 01:28:07
  14. Can you explain why you use 8 MA? 01:29:31
  15. Can you review how you set different ATR Can you review how you set different ATR levels? 01:30:38
  16. Could you talk about trading addiction, and if a trader who has been addicted, could trade normally after working on it? 01:31:07
  17. When you re-enter a position that you were stopped out, do you still enter with a 100% position? 01:34:13
  18. Could you comment on resolving disfunction in following rules, esp related to sizing/risk? 01:34:51
  19. I thought I saw Peter's comment in Chart Wizards that classical charting patterns no longer work. 01:39:52
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