let me just tell you if you hven't wasted your time and money burning through all the materials both paid for and free then you will be lacking experience. since experience is what you need to make it in the trading business then i suggest you develop some speed reading skills and have some deep pockets to burn through all the materials you possibly can. then find a mentor who out of the kindness of his heart will show you how he trades, not that you will be able to replicate the style but rather that you may KNOW it can be accomplished.
i've burnt enough money and time in this venture, but have not given up and will continue learning and exploring as long i'm able to do so. hopefully someday i will get there or not. Thanks to the people in this forum who have found success and willing to share ideas and help out the wannabes. not looking to being spoon-fed, just some ideas that is worth automating, as automated trading is my area of interest.
We need people like you and Mark Brown. You are feeding the machines and ensure all the parts keep being lubed and greased nicely. Thank you for your monetary contributions to the rat wheel.
Programming @ https://www.elitetrader.com/et/forums/programming.65/ Strategy Development @ https://www.elitetrader.com/et/forums/strategy-development.34/ Data Sets and Feeds @ https://www.elitetrader.com/et/forums/data-sets-and-feeds.66/ wrbtrader
We traders practice the 21st century version of Alchemy, searching for the philosopher's stone call edge.
Thanks wrbtrader. i'm not looking for strategy development tips. i consider myself fairly advanced coder having developed plenty of strategies of multiple types(trend-following, mean reversion, etc..) using both traditional indicators as well as custom built ones. But most of them have drawdown of <-20% and can't trade them on small account without sufficient funding. So after reading some of @schweiz posts, i realized that the key to reducing drawdowns and create a strategy that is tradeable for smaller accounts is to refine the entries such that it buys close to the bottom and sells near the tops. In one of his posts, schweiz mentions about a mathematical model that he implements to find the optimal entry locations. So my ask to the larger audience are for some examples of such models(if they exist) that can be defined to create some robust strategies.
Destriero has problems if he is not the supertrader of ET. If he thinks somebody might be as smart or smarter then he, he starts to post a lot of nonsense. He posted a REFCO statement from me. He pretends that there is no money in this account as he sees a $0 amount. What he does not say is that the zero dollar amount concerns OPEN POSITIONS. That is clearly visible on the statement. That should (and is) always be zero as I daytrade. So I never have open positions overnight. I think that this example tells you already enough about his "personality". I blocked him but he keeps coming back by logging off so that he can read my postings. That also tells a lot about his "personality". He is spending most of his time using these practices not only against me, but against a lot of posters on ET. PS: I did not answer to your request as I only share what I wish to share. So requests I get stay unanswered if I have to share more than I wish. If I would not be trading and only post nonsnense like Destriero is telling, I would not have so many likes. Best thing to do is block Destriero.
No, the key is being very picky in taking signals. That reduces the chances to get a long row of consecutive losses. Signals should be over 75% profitable. And very good signals have enough potential to make a big move. That's better then trying to take every move and make $5 per trade. Your average profit per trade should be much bigger then your average loss. Very good entries and exits are an additional advantage.