Back in the game yet again, up +$36 at the moment. Also have bot turned on, it hasnt traded yet. Today I want to work on minimizing my losses. I want to cut my loosing trades faster. Also, I want to be sure to only take a legitimate signal of some sort. Anytime I make a trade without no signal I am going to post here, and hopefully the public humilation, and drive to not want to look like a complete idiot over and over will stop me from taking those trades in the future. Time to have a good day.
Truth to tell nobody's perfect, nope no body. So don't worry overmuch about that. Just have a general idea of what setup(s) you need to see to make the decisions you want to make. Overall todays is looking pretty bullish as of this morning's action. Yesterday's short pullback most likely was just that ... a short pullback. Did you assign your bot a mechanism to know when to exit all of those profitable trades it's making? (Don't be afraid to go back and retool after the day's trading session, you'd be amazed at what you learn by applying yourself rigorously every single day) Good Luck, Jimmy
Jimmy, yes the bot has a couple of exit criteria. Its best and most profitiable is to simply exit on the oposite signal... Through testing this has shown to actually be the best. However, I am experimenting with a few other things in backtesting in an attempt to find ways of holding on to larger gains better without sacrificing performance.
I know I said I woudlnt play with the bots trades that much... but one thing I am going to do is as it gets closer to the inventory data in the next 30 minutes, I will manually close positions if needed so the bot doesnt take a big loss for no reason. If I had to pick the biggest flaw of the bot it woudl have to be slow reaction to a sudden parabolic type move.
The spelling and grammar Nazi in me can't contain himself. Frosty, a non-winning trade is a losing trade with one 'o' and not loosing. Loose is the opposite of tight. Just had to get that off my chest. Have a great day, everyone.
boro, I'll try to keep that in mind. Never was a good speller. update: Just closed a bot trade out because I dont want to be caught in a trade when the data comes out. Me: +$47 Bot: +$32
That's because price action isn't linear Frost, it's parabolic. So now let's see if you can remove the concept of linearlity from the equation and in its stead insert the concept of using the parabolic movement of price action to at least let you know when to exit (it also makes a good entry signal). Later, JJ
I did it again! tinkered with the bot, just took it out of a short position on the ES and already it woudl ahve made more money. I know I said I woudlnt tinker again, but I like having a feeling of control... who knows maybe this time I did a good thing... Me: +$47 Bot: +$90 EDIT: Bot would now be up another 75 dollars from where I closed it...
CRAP, I have got to stop screwing with the bot, looks like this will have been another big money trade possibly.. at least a lOT more than what I got for it..... If there was anyway for me to trade my real money account open on 2 seperate computers I would, If i didnt see the bot trading I woudlnt touch it, but I constantly see it.....