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Louis,
For what it's worth, my advice would be to simplify your life and
just use end of day data. Even if you do eventually develop what
appears to be a strong strategy, intraday trading is probably not the
best approach for a new trader.
An inexperienced trader will often not have the maturity to control
their emotions and to stick to their strategy during live trading.
Using end of day data, your trades will take place at a much slower
pace, thereby giving you a chance to control your emotions and make
better decisions.
There's no point in developing the holy grail only to lose all your
money because you couldn't stick to the plan. If it's high frequency
trading that you are attracted to, try swing trading, holding
positions anywhere from 2-3 days to 2-3 weeks, until you're ready for
intraday.
There are many published strategies, most of which are now of limited
use since they are so well known and no longer represent an
ineficiency in the market. Still, they can act as a starting point to
get an idea of what types of things used to work.
Run backtests on them, using different money management techniques,
and get a feel for how large an impact money management can have on
your end results. Careful money management can turn a moderate
strategy into a high performing one.
Similarly, run walk forward optimizations on them and get a feel for
how reoptimization can give new life to a slowing strategy.
Combine techniques of known strategies to produce your own. Look for
a consistent performer, if even only a moderate one, before trying to
hit the jackpot. A moderate, consistent performer can be leveraged by
trading on margin.
Finally, if you don't already have a large sum to trade with (i.e. in
the hundreds of thousands), you're not likely to be making a living
from this any time soon. So, don't quit your day job :)
Mike
--- In amibroker@xxxxxxxxxxxxxxx, "Louis P." <rockprog80@xxx> wrote:
>
> Hi,
>
> I was only wondering... Anyone actually making money or making a
living
> with AB and trading?
>
> I've been working on ideas and plans for over 7 months now and
didn't find
> anything convincing yet. I've been searching daily data, then
hourly,
> 15-minute and now I am into 1-minute data and nothing seems
satisfying.
> Been searching RSI, MFI, ADX, MA, HHV, LLV... nothing seems to work.
>
> So... Anyone is making consistent money with this, and if so, at
which
> timeframe and how do you do it?
>
> I'm beginning to think about switching to tick database; it seems
even
> 1-minute is too slow for intraday trading. Anyone making money with
> 1-minute?
>
> Thanks,
>
> Louis
>
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