Hahaha...you really are funny guy SLM. Always make me laugh out loud. You opened a thread called ' I HATE algorithmic trading'. Just what did you expect people to talk about? I'm not sure Jim Simons would have agreed about your algo philosophy. Oh.. wasn't he on your 'heroes' list or was his background not quite dodgy enough?
Hello Ricky Roma, Why am I so funny guy for @Ricky Roma ? I am happy I make you laugh. I am not trying to be funny. Jim Simons paid +50 Ph.D Scientists to work 40-80 hours a week to find him trading strategies/methods to make his company rich. This was the goal!!! And he win. Do you have +50 Ph.D Scientists to work 40-80 hours a week to find YOU trading strategies/methods to make you rich???? I assume the answer is NO. So you not going find an algorithmic trading system to make you rich in 0-2 years.
But you keep calling them dumb algorithmic systems. Would you agree that in Jim Simons case the algorithmic systems were anything but dumb?
Just some life words of wisdom SML. Should you ever decide to get married, make sure you get a pre-nup beforehand. Gotta protect those Millions in advance.
I guess that $5m target within 1-3 years that SLM set is proving a bit tougher than expected? I have 40 Ph.D scientists currently locked in my garage...just need to lure another 10 in and I'm sorted.
The only way to get rich day trading is to trade size. You are not going to be able to trade 100+ contracts with your click click method, you won't have the balls to scale up beyond a few e-minis at most. Algo trading, if you have a real edge that holds up, will get you to 100 contracts eventually..
Hello Businessman, Two questions please. 1. How do you know if an algo have real edge? 2. Do the 2 algos I posted I have real edge? They are on their 3rd year with losses. Thank you.
Double or tripling size after a loss using 1:3 reverse r:r is interesting. I think everyone has tried that once in their trading life. But u do get caught in those rare losing streaks. How did you manage to get out of those? Or you just refill account after occasional blow ups?
1. The knowledge comes from years of experience in developing algos that did not work as expected in live trading. 2. Probably not... scratch that, almost certainly not