HAHAH! I sure hope I don't have grey hairs lololol Yea for sure, I have yet to put any money in an automated strategy, so we will have to see. I probably going to have to teach my mom about trading so she could watch the strategy when I'm at school lol. I just gotta hope now that my strategy is perfect
I have limited experience in anything (ATS space) other than turn-key systems, but there is a lot more low-hanging fruit in spreading delta-one instruments or vol-trading. I would look to spreading futures over taking outright spot trades. IMO I would look into FI yield-curve trading or switches and cracks in CL and products. Or go into equity options.
Agree 100%. Forward walk is very important, it is all too easy to fool oneself with something that backtests great. I haven't read the entire thread but if data is 3 years 2007 - 2010, try testing the same strategy for 3 years 2003 - 2006 or any other untested 3 year period, while not a forward walk that will at least yield some clue as to the validity of the strategy over out-of-sample time periods.
Julian, -Don't spend all your time backtesting. I lost 3 years of my life doing it only to finally find success trading discretionarily. A simple system exploiting market inefficiencies or a known bia of a market beats any indicator based optimized trading system. Backtesting can be useful but only to validate something that "should" work IMO... -15K for "education" at 14??? Listen here, you just need free platform, free histos, free backtester right now. Don't pay anything until you are a consistently profitable trader. All the best information or at least the one you need is free. Personally, after 5 years trading professionally, I use a platform that cost 500$ a month and a charting website for 200 $ a year... That's all, and you don't really need more. -Starting trading at such a young age can be really promising. If you do it right, at 20, you will have the money, the girls, the house...All the really successful people I know are not typical college grads who dreamed about corporate life. They are more self made business owner that had a passion for something and started doing it really young.
About the education... I agree. Complete waste of money, and I wish my parents could get it back. Unfortunately, at the time, I was naive and thought that it was necessary. Turns out because of my story being on tv and the newspaper (being 12 when I joined OTA) they racked up 100k in sales, and when I asked for something in return, I got no response. Thanks for the compliment!
So far execution (which is what I've been focusing on the last 2 weeks), have been fantastic. I've actually had a few trades that were entered better than what a limit order would have given, as it enters against the momentum usually. P/L wise it made about $200 this week. Normally you would see + or - 1-3k so this week was kinda a non event, given how choppy oil has been. So definitely no worries so far on execution. I am now going to focus on all the potential hazards that can arise while the system is running. Thanks for asking! Julian
Just another message of encouragement Julian: don't let the haters/doubters get you down. Hate/doubt comes from jealousy, pure and simple. People also interpret confidence as arrogance when they feel threatened. You obviously have intelligence and a bright future, so stick to your guns and don't let your ideas and ambitions be swayed by those who lack the desire and intellect to achieve their own. I wish I had started in my teens instead of having a great idea for 8 years and then finally starting to act on it in my 20s.
Thanks for the kind words! I really appreciate it. I am grateful that my parents have allowed me the freedom to follow this passion.