walter, No I was referring to some other suggestions concerning trading with the main trend.... Concerning your suggestion of using the ADX indicator for determining the trend strength, that is something I am already doing somewhat, but something I need to look more closely at as well
Bot getting hurt again thus far.. volatilty is looking a lot better today so the bot has a lot of room to play with to get itself back up... but so far its underwater......... i'm getting really tempted to take the advice of playing lower risk contracts..... Also getting really tempted to play one of my startegies that uses varies market internals to trade, these strategies perform better on the captured data, but I do not have the required data to test them going back more than a few months.... so it woudl be a gamble switching to them... but i'm tempted... Anyway, this is why I started this thread to keep myself on my toes and to not pull the plug completly... which I WONT do... I wil lcontinue to have the bot trading, its just what will i have it trading ....... I think I can be my own worst enemy at times even when i'm not trading physically!
The bot has now completed 3 trades and is in another short, and is down $320 or so... And yes the bot was underwater from the very first trade.. it took a short position around the time the market bounced off of the morning lows the first time..... this position went against it about $80 before the bot reversed into a long position expecting the market to continue paring its losses as the market was already down well over 1% at the time.... this long posiiton came right before a second wave of major selling came in sending the market down... the bot then bounced around with a another short a lilttle while after... and is currently short now...
There has been a whole lot of advice and criticism emerging on this thread. I was just wondering if anyone here actually has created a fully automated trading system that they have been using profitably for more than a year. This would reinforce the value or lessened value of the advice coming out of this thread.
I have 4 systems that I have been running for over 18 months now. They operate on intraday, daily, and weekly basis. My current vehicles are the 4 emini-s, EC, JPY, BP, SF, gold, oil, and bond futures. Some might say I have my fingers in too many pies, but I feel more comfortable with, say, 5 contracts in each market rather than 50 in one. I never, ever, ever, trade discretionary. I just can't do it; I lose money. RoughTrader
*** Point #1, Frost restarted his trading his Bot in the hopes of receiving feedback, so that he could filter through it and apply any/all comments which may have a positive impact on his knowledge base and assist him in becoming more profitable with it. Point #2, I don't trade automated, I trade system using YM, ES and NQ. I won't go near the ER2 in my personal trading for reasons that I've already stated. I love trading the YM for those selfsame reasons, but if the ES sets-up a comparable trade I will take it instead. This process will allow me plenty of time to garner the gains (hopefully, if I've done my due diligence) and keep to an absolute minimum the losses I generate from my trades. Best Regards, JJ P.S. The market was in an obvious downtrend from the Open. Even if the Bot were not Short, it never should have taken a Long. So, using a pure Critical Thinking approach, it might be a good idea to take a look at the trade parameters and change them where need be.