Thought pattern to stay in sync with the trend?

Discussion in 'Trading' started by learner2007, Dec 28, 2012.

  1. dom993

    dom993

    I would suggest this young trader, to program his setups, backtest the heck, and let a computer do the actual trading while he does his job.
     
    #11     Dec 30, 2012
  2. Thank you for the suggestion. However, he started out doing his analysis and creating his setups the old fashioned way, even though I'm sure his programming skills are quite good given his present job. And in fact he did extremely well when he first started out.

    Since you seem to know about programming and I know nothing, let me ask you this just out of curiosity. Isn't it impossible to program TA to where the computer could accurately draw trend lines, recognize support/resistance and patterns etc. I've come across an EFS or two in eSignal that seemed to prove this to be true.

    Yhank you
     
    #12     Dec 30, 2012


  3. Thank you. It looks a though you could very well be right there.

    I trade futures, mainly just 2, so this didn't occur to me. He started out trading futures, being a student with little money. But more recently when the volitility died and he started working he swiched to stocks. I just spoke to him and he is following way too many stocks real time. So I can now see that he must be unable to focus by jumping from stock to stock, which would cause him to miss so many opportunities. I suggested that he greatly reduce the number he follows real time and see if that helps.

    Thank you again.
     
    #13     Dec 30, 2012
  4. dom993

    dom993

    Like in the markets, "everything is possible" in programming. But it is true that programming a Price Action oriented system (using patterns in general, including support/resistance and trend-lines) is far more complex than using "indicators".
    This is what I specialize into, but it took me quite some time to figure-out some key aspects of it.
     
    #14     Dec 31, 2012
  5. ammo

    ammo

    you may have taught him well, he possibly is waiting for more screen time to see enough repitition to believe it works, in the meantime he is trading the one set up that seems to work the most often,and observing the others
     
    #15     Dec 31, 2012
  6. L2L

    L2L

    Hi learner2007!

    I've spent the afternoon reading all your posts on ET (I'm not a stalker I promise!) thanks for your contributions and perpectives!

    Now back on topic, it's been a number of years since you posted this thread, are there any updates you can share about your student?

    Regards,
    L2L
     
    #16     Mar 30, 2017
  7. You read all of my posts, did you?!?! Well, either I should be honored, or you're pretty hard up for something to read!

    I wouldn't call him my student, as I'm not a teacher. While I believe he has what it takes to be a full time trader, and at heart he wants to be one, he has some very old fashioned parents who financed him while he went to collage and while he got his MBA. So he feels obligated to maintain some sort of social status. But he does trade the Nikkei during the evening session when he has time and the last time I spoke to him he said he was doing well in his limited trading hours.
     
    #17     Mar 31, 2017
    murray t turtle and L2L like this.