Hello semperfrosty, Yes for certainty. I was in SIM for many years making sure I do not lose all my savings account money. I did lose about -$9, 000 when I first started trading and I lost $13,000 trading an algo. Not the algo fault, that damn drawdown push me to my limits. That is why I was suggesting to @NoahA, focus on the losing part mentally and physically, cause drawdown and not knowing if the bleeding will ever stop is challenging, atleast for me it was/is.
Hello ironchef, Well, ironchef, what else makes sense? What other choice does a trader have? You only have 4 choices buddy: Choice 1 : Click the Buy Button Choice 2. Click the Sell Button Choice 3. Click the Compile button on the algo code you programmed Choice 4. Click the Back test button to see if the algo make money per your liking. Hopefully one of those choices make money. Sorry, if I keep things so simple.
Mine is simpler: Choice 1: Click Buy Choice 2: Click Sell I don't have any algo, so no Choices 3 & 4, they are NoOp. Then I count my losses. Remember, you said I have to learn how to lose money.
Hello ironchef, You are wise man for making your life simple. I do click buy and click sell as well. Algo research and development will take you years, and you may still get it wrong. Keep clicking manually
Hello ironchef, Correct! This is the last step of the journey, learning how to lose money and click again without altering mental. Learning to make money is easy, anybody can do that. Learning how to lose money physically, mentally, spiritually, normally, repeatable, consistently without sadness is the last step to freedom. And we all lose money emotionally differently, so what I have to say about losses may not fit with you. You gotta figure it out.
More proof of the determinism of the market. You can see here that to complete the C&H McDonalds would need an earnings miss. Past price not only affects future price, it dictates it. The chart was essentially forecasting this earnings outcome. If you go Hari Seldon deep the chart will forecast every outcome. The Medallion fund I believe tapped into this phenomenon with an advanced form of EW/fractal/ pattern based algorithm.
Hello semperfrosty, This may or may not apply to you as well what I type to NoahA. You and @NoahA need to collaborate and hook up and get going with it down the road. ES will be back open at 8:30am, lots of money to be made. https://www.elitetrader.com/et/thre...and-unpredictable.377836/page-32#post-5924842
It is a day session chart not a 24 hour chart. The 3:10 is not a.m. but close of previous day session so 3:10 p.m. so that bar is the last 5 minutes of the previous day session. The 8:30 a.m. bar is the open of the next day session. That gap up that I labeled leg#1 is what happened in the overnight session before that 8:30 open. That gap can be represented by one big bull bar in terms of function. So I just call it leg one. Hope that explains.