wizetrade, investortoolbox, teach me to trade

Discussion in 'Trading Software' started by noahoren, Feb 15, 2004.

  1. Think harder on what? Learning neural nets?
    The method is in its place, it uses auto-fibs and elliot wave with CCI, a couple of trend determining methods, and a couple of oscillators. However, it is a possibility that using a neural net generated moving avg, it could be made better.

    Of course, it's just for me :D
    #21     Feb 16, 2004
  2. abogdan


    Well, I've seen these infomercials every year when markets were doing somewhat OK. 99.99% of them are based on moving averages the rest is just packaging! You can subscribe to a very inexpensive service (like eSignal equities or something) and use their pre built indicators for free! But this is not what I want to stress in this post.

    Please try to listen to me, I've been trading for quite some time, the number one component in your success is not the system that you own it is your KNOWLEDGE !!!!! . No system alone will make you successful! Only knowledgeable traders have chances to succeed!

    You might think that I'm full of shit, but you'll realize soon enough that it is truth! Whether you like it or not!

    Good Luck!
    #22     Feb 16, 2004
  3. Well....You have a great program (MAGUS), no matter what you say, what do I need to know? If I use your platform? Really...I am not being a SmartA**

    My new problem is now which trade recommendations to take and which ones not to! They seem to all make money....even if you average down.....the trader seems to be able to get out with MAGUS.

    Michael B.

    #23     Feb 16, 2004
  4. I agree with you, but it depends on how to use that knowledge. You can use it yourself or program a blackbox to use it for you, so it does it without emotions.
    #24     Feb 16, 2004
  5. In the beginning I wanted to trade MYSELF...no way would I even think about automation or somebody else making my trades!!!! But face it we are all in this for the money, and for me at least automation is the way to go, while I monitor it!!!

    The gambling days are over......believe me with all the knowledge and the years I have.....it is better to work a day job and be at the mercy of the truly talented ones that can program and trade discretionarily. I like to follow along and count my money, but it is best for me to be on the sidelines and watch or HAVE A DAMN GOOD SYSTEM!!!!!!!

    Would you have less respect for me, if i admitted that I cannot discretionary trade? I have learned that about MYSELF....so my knowledge is accepting that and I am in full agreement with you.

    Michael B.

    #25     Feb 16, 2004
  6. abogdan


    You probably misunderstood me! :) What I meant is you need to know what are you buying and why. Good system is a great advantage (I design those systems for living) but if you don't know trading environment and have no knowledge about trading you could fail even the best of the systems! Am I right?
    BTW, thank you for taking time and testing my RTN system. I wish more people took a look at our site. It’s free! What have you got to loose? I believe in what I do and I believe that I can help others.

    Thanks again
    #26     Feb 16, 2004
  7. Well said!
    I have been a programmer for 3 years, and been in futures trading for 1 year. The first six months I read whatever I could find (and still do). After that I did not bother to papertrade, perhaps a big mistake and just jumped it with real money. Of course, the inevitable happened, but I didn't wipe my account. Considering I was absolute beginner, I lost $1500. Then I left trading alone and started studying black boxes. I was surprised at the obvious mistakes that black box designers make. Perhaps they are not mistakes after all, they deliberately want people to lose certain amount of money, and not make as much. I started reading more, and trust me so far from what I have seen, there is NOTHING out there that cannot be automated.
    But hey, if people start selling 80%+ profitable systems then who would come back to buy another one?

    #27     Feb 16, 2004
  8. :cool:
    #28     Feb 16, 2004
  9. abogdan


    I agree, everything could be automated, but don't you have to have the knowledge to run it? I have built a fairly elaborated Robotic System for our office (all sorts of shit inside based on AI) but we still have two highly trained professionals running it! Don't tell me that a house wife can handle trading of any system without any knowledge :D
    #29     Feb 16, 2004
  10. Well, I could take it step by step for the wife.....

    1)turn computer on
    2)start tradestation
    3)turn tradebolt on

    etc.....you get the picture?

    Michael B.

    #30     Feb 16, 2004