TraderInterviews.com recently interviewed Dick Diamond, who has been trading his own account for 35 years.   I don't know if his interview provides me or you with any insight but I'll post the notes anyway.  Here are his trade characteristics:

• a very simple trader
• uses only technical analysis and a combination of 5 or 6 indicators (MACD, channel index, ergodic)  
• uses the 1-minute or 5-minute charts 
• only trades the S&P e-mini futures
• will go long if at least two of the indicators move from negative to positive and short if at least two of the indicators move from positive to negative
• stays very emotionally disciplined
• never trades more than 10 contracts at a time, makes 2-3 trades a day, and only has 1 position open at a time
• enters trades based on TA but exits on his gut
• doesn't care about fundamental news but won't take a position before a big announcement

Read or add comments about this item.

No. 1 : Very simple Trading

The simpliest the more profitble, sometimes we are not realize that there is more useful in simple strategy.

Submitted by Forex Trader • 2008-01-21 10:11:53

No. 2 : Full circle

I have used indicators for some time and now I'm starting to loose them, just looking at price. I'm seeing patterns better than before. I look at indicators and see that they are just translating the chart into something else that is easier to read. The MACD for instance, just translates moving averages into an easier read. What I have read is that we should pick a couple of indicators and learn them well, I agree with this.

Submitted by Forex Trader • 2008-01-21 10:22:02

No. 3 :

'Dick Diamond'?
Are you sure he's not a porno star?

Submitted by Craig • 2008-01-21 12:51:44

No. 4 :

lol.... Dick Diamond... Dirk Digler...

Submitted by Rich • 2008-01-21 14:00:08

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