%% 1] GOOD,danielC1 ,+ good thing a back test or any kind of test is NOT a prediction Slippage + worst trade on ES,SPXU,SPXL especially NQ leveraged , sorry, is likely to be much worse\much worse. 2]BUT it could work well on QQQ or SPY\SPYV cash. Even though SPYV trades so much like bond i seldom do that one LOL. barchart.com has ES\NQ @ 100% sell; but QQQ @ 24% sell. Profits on the cash liquidity leaders tend to be much better; that's why so many cash funds do better/ AUM +do better on so many measures. SPXL is almost as bad 56% sell;no wonder so few funds use SPXL\terrible slippage also, have to consider that. 777] If he likes to hunt ducks+ I do,2; consider the Duck Unlimited [MAGAzine] ad by Paul Tudor Jones\he has a[green pattern] high standard much higher[more restrictive] than the law requires . But unless one goes further south like Argentina,wild duck season is limited to SEPT-JAN
Use live tests with minimum size. That is the only way to know. All theories in trading are useless. Like what Mike Tyson said “Everyone has a plan until they get punched in the mouth.” Whatever issues discussed here have been discussed thousands of times before,
I am convinced for retail the best is a mixture of semi-automation and manual trading together. Having a centralized screen with data being instantly fed from multiple time frames with a simple "yes" or "no" "green" or "red" (that the receiving user will understand what all that entails), along with a manual trader that has strong market context and experience is going to free up that trader to focus more on entry, stop and general trade management. Plus will likely be able to capture more high quality trades, without the downside of information overload (from having to manually find and calculate the information). Sure this isn't some new concept or anything well aware of that. Just don't see a lot of people discuss or talk about this that much. Just recently got a taste of it and it's working out even better than I imagined. Unfortunately my coding skills are poor, but what I've managed to get so far it's really good stuff.
A team of 2 traders can achieve that, with one as the spotter and the other as the sniper, so to speak.
They can I did actually try that, but I was unprepared to fully do that and the other person made a lot of mistakes, was dishonest about something, plus was very ignorant and arrogant in general, so in the end it did not work as planned. What came from it wasn't bad though we both learned a lot and are much better traders. Still the most optimal way is to have it send to you via a bot. Even if you split the duties things like pride, how to split the profits, who controls all the accounts, trust and etc are really big things to overcome. It's definitely more viable than most people would think, but still a very difficult thing.
Do it with a family member, like spouse or kids. Just need to do some training. My wife has been watching me trade for years. I bet she has more knowledge than 90% of amateur retail traders. Lol
Na, at this point just easier to get the automation done have it feed the information and I'll take the trades.
look at the order book data with best ask, bid and depth. if you need more than what's on top of book, i like to look at like all 5 min snapshots of order-book from previous day, up to maybe 50 or 100 prices and run a loess model of cumulative depth ~ change in price. and then i can estimate what my slippage will be based on size of trade using the loess model. and you can also, assess whether you can ease into the position over several minutes with no slippage for longer hold times.