My goal is to build an automated strategy. For the past 6 months I've spent not kidding about 50 - 60 hrs per week learning how to do this. Reading numerous books, forum posts, ideas, and then writting seems like thousands of programs. To date, I have never come up with something profitable enough to trade. I always said to myself I'd go for up to a year if I don't get burnt out. Right now, "I'm burnt out" ... been feeling this way for the past week. Is it time to throw in the towel, realize I can't do this, and make money some other way?
No not at all. The two things are seperate, being sucessful and having automated stratedgy, although they can compliment one another. Maybe you should consider buying an automated strategy that is demonstrated to work while working on your own ability to program? I have a free trial is this room, only been there 1 day, but they sell some strategies and let you watch them play out for a month in hotcomm for free. I am not at all affiliated with them, just trying to help. http://www.advancedtradingworkshop.com/ Andy and Jerry give alot of info for free. They seem like good guys to me. Personally I am not interested in auto trading at this point so it's not for me. Good luck. Dan
I have automated strategy for futures took me 3 years I guess you thought you were smarter and could do it in 6 months hmm.....
don't throw the towel, you're closer to your goal than you think. Take a break, analyze what you did so far and go back at it. I don't have a automated strategy, but after 5 years of reading books, losing money, and feeling like crap, I FINALLY GET IT. One of the main the reason why most trader fail is because they quit when success is around the corner. cheers www.liofmc.blogspot.com
So true, most traders expect success so quickly after reading things like trader monthlys top 100 earning 50 mil to 2 bil in just a year. It takes time and people do it every day but imo anything worth while will take the kind of effort and frustration you are going through.
The markets are random and unpredictable most of the time. This means any automated edge you do find will be very small. If you are looking for a big edge: some thing that trades often and has win rate of over 50% of the time with big winners etc you wont find it with an automated strategy.
You have to realize only 5% of the people who trade make money long term. So you have to decide on the opportunity cost of spending your time and money working on a strategy that only has a 5% chance of success vs doing something else with your life to make money and succeed at. No one can on this message board can answer that for you since only 5% of the people here actually make money trading no matter what they claim.
It sounds like you just need to take a break and come back to the task with a rested mind and fresh perspective.
His timeline is about right, for an automated or a discretionary strategy. So the question you have to ask yourself is: Can I spend another two and a half years spending 40 - 60 hours a week developing my discretionary trading skills and applying them to an automated trading strategy? If you can make that kind of commitment, go for it. If not, hang it up. Just that simple, Jimmy Jam
Excellent Commentary.................. I worked over 4 years on one program...and I have been trading since 1978....... And guess what...the work never ends....... There is no end....just continual adaptation....... ........................................................................................... And this industry is in its infancy...as is the internet... .......................................................................................... The electronic exchanges are developing and merging ...while the bid asks are consolidating...and the most efficient executions are becoming more and more accessible...and the trading products more numerous along with the execution technologies... ........................................................................................ Trading is just another business...and many businesses are very slow in the beginning...