Using a trading system to daytrade

Discussion in 'Trading' started by Splat, Jan 30, 2002.

  1. Splat



    Does anyone here use or claim to use an 'automatic'
    trading system? In which case I would like to ask how
    good results you get?

    OR do people use the same old fasioned mechanical
    charting/technical analysis to day trade?

    Thanks for the info.


  2. newbie


    The results haven't been great. Up only $2000 in 2.5 months in commodities.

    Been looking at systems by Joe Krutsinger also. His stuff looks very optimized though. Read one of his system development books and then checked out his website.
  3. Splat



    2000 in 2.5 months? thats not even enough to survive on.

    I've read so many negative things about commercial
    trading systems. Personally I wouldnt use one. But
    I am thinking of maybe looking at developing my own..

    See how it goes....


  4. I worked for a wile selling managed futures and there are a lot of systems out there that work for a wile or even 10 years or so but eventually almost all of them blow up. I was selling a fund that was up over a 1000% in five years and then they blew up. Also I was selling some funds that were discretionary and they have been around a long time and the few that make it past five years usually survive until the manger retires. Just look at CTA track records and there trading style and you will see what really works.
  5. If your intial investment was $2000, that's 100% in 2.5 months!!
  6. newbie


    The inital investment was $20,000.... so 10% in two months. Not great in my mind for the risks I'm taking in the commodity market.
  7. BruceF


    How much were you risking to get your 10% return?
  8. All I can speak for are the hundreds of traders who trade with us. We have a handful of successful "automated" systems, and 2 that do very well (they are "babysat" by live bodies at all time). We have less than a dozen who try to use T/A for day trading, for obvious reasons. Our traders rely on the best computer in the world, the human mind (properly trained)....the markets are not constant, so we feel that we have to react or respond to whatever is thrown at us.....

    Don't know if that is the answer you are looking for or not, but those are the facts.
  9. white



    "We have less than a dozen who try to use T/A for day trading, for obvious reasons."

    What are the obvious reasons?

    Do you mean most of your traders don't use support/resistance, high/highs and lowers/lows to make trades. Or are you referring to something else?

  10. I just mean that we need to focus on tape reading, premium/discount, players, and all the rest for the stocks we trade so we know exactly what is goiing on with the stock that day without using the charts. We, of course, review the all the TA basics after hours.
    #10     Feb 1, 2002