Any advice for a soon to be full-time trader?

Discussion in 'Professional Trading' started by Howard, Sep 29, 2019.

  1. I would say it's fully non-discretionary when it comes to entering a trade, some discretion is required for setting the stop loss and making sure it's not too tight(my system produces multi levels of S/R and the rule is to pick a level that's one level away from the current S/R as the trailing SL).
    #221     Dec 13, 2019
    ironchef likes this.
  2. jl1575


    It all makes sense now, your paper trades and and hypothetical profits and the system. Good luck.
    #222     Dec 13, 2019
  3. Thanks, haha if that was real profit and everything is working as planned. I won't be here posting looking for friends. lol
    #223     Dec 13, 2019
  4. Howard


    Don't worry about hijacking it.

    As you're now discovering - there's a difference between backtested/hypothetical results on a dead chart with no money risked versus a faster, live chart and having to make fast decisions on the go while risking money. It certainly changes things a lot.

    For me, I've often gone live only to discover flaws in my system which were not apparent during backtesting/checking. So, then it's back to the drawing board, more refinements, etc. Try again with live trading - discover another flaw and then back to the drawing board. Rinse. Repeat.

    When are you planning to go live with real money? I see you dropped the Combine.

    Maybe just trade live with micros for a while or seriously in a simulator account just like you would real money?

    I will start trading 1 e-mini contract in January and will start scaling my account as soon as I can prove consistent profitability.
    #224     Dec 14, 2019
    MercForHire and jl1575 like this.
  5. Looking forward for you to start your trading career. Have a great holiday!
    I am starting to trading 1 MNQ next week. I don't regret spending 2 month on the Combine, it's been educational and felt like the real thing. It just felt empty at the end of each day regardless of winning or losing.
    #225     Dec 15, 2019
    Howard likes this.
  6. Howard


    That's just part of the process. No shortcuts for anyone there. :)

    In hindsight, for me, I've lost too much money on the 'educational process' and discovering flaws in my system which could have been avoided by simulation trading or at least minimum size.


    #226     Dec 15, 2019
  7. ironchef


    Wow! Your results are impressive. I never had such good results even when backtesting or with real money. Of course I swing and not day trade. If you are truly non discretionary, your system should be as good going live. :thumbsup:
    #227     Dec 15, 2019
    MercForHire likes this.
  8. I found a way to export my chart and signals into a text file. I can make a parser that turns it into object oriented programming classes that I can perform logic on. I can create a desktop app that constantly monitors the latest price/signals data and replace orders real time using REST API.

    Thanks for the automation suggestion. Looks like I found my project for 2020. Time to put my software engineer skills to good use:strong:
    #228     Dec 18, 2019
  9. Howard


    Trading plan completed including money management rules, clearly defining all my signals, systematizing all my knowledge/statistics, all operational guidelines and pre-market/market/post-market routines. In addition, I've been testing my methodology and getting back in tune with the market after having less exposure and screen time at the end of 2019.

    Going live tomorrow.

    #229     Jan 12, 2020
    MercForHire likes this.
  10. My bot had its debut day today on paper account. 11 points profit, 14 trades. Turned it on at 9 am and came back to check it at 4pm.
    Difficult to profit on these ATH low volatility days.
    #230     Jan 14, 2020
    Howard likes this.