The problem SML has is patience. He wants to get Rich quickly. The World is a harsh Teacher usually. Everything worthwhile usually takes time and/or suffering. Be patient, keep working even if it is click, click, click.
Hello DarkerthanDarc, Correct. Why is getting rich quickly a problem? Do you really trade to get rich slowly? That makes ZERO sense.
Hello themickey, Are you stating you build algos for the market conditions you see today hoping it works tomorrow?
Hello SML. Not hoping but knowing. Let me repeat myself, the shorter the timeframe trading period, the more competition, the more noise, also the more trades, more slippage, more decisions, more mistakes. This equates to more difficulties to make a profit. Now moving on, there are some universal truths in trading fundamentals and technicals which stand the test of time, are rock solid on which to build algos on or to take trades on. There are numerous ones, you just need to stitch them together. Unfortunately SML, you drive nails into your own coffin when you state you are on a mission to get rich quick by click click click and damn anyone who wants to trade using algos which are really only servants you create for yourself.
Good Evening themickey, Let me try again I ask you a simple question. Please respond with a simple Yes or No. Once again you proving why algo systems is dumb and stupid and ultimately all mighty my sweet Jesus a waste a damn time. @Businessman is very simple and very clear when he post. I can tell in 5 seconds he knows EXACTLY what he talking about. He has very precise wording and get straight to the point. He is beautiful writer and knows what he is talking about. The same for @Handle123 and @volpri. I have no clue on earth what you talking about. Please answer the question directly. Are you stating you build algos for the market conditions you see today hoping it works tomorrow?
You prolly don't understand as we come from different planets. Market conditions today are nigh on the same 5 years ago and in 5 years time. Market conditions don't change, price goes up, price goes down, price goes sideways, price goes fast, price goes slow. What is there about that you don't understand?
This is true, UNLESS you are watching. Prior candles are important, but not as important as the current candle. I don't care what anyone here says, volume is important. That said... to quote the Warthog... it's "part art part science." He is right on that one. Science is easy, deep pockets have that down, but the art part as a retail schmuck discerning the algos' next move... that can't be quantified or taught. "Be the ball."
Trading is definitely part art, part science. A wise trader must assess the overall, unique, trade situation. Science are the fixed data points and variables...and the art part are the sloppy deviations and movements. Together they intertwine on that picture frame, time frame, box that makes that chart graph line move and gyrate and dance semi predictably ,, with patience and wisdom