Re: [amibroker] Re: Anyone actually making money?, AmiBroker Email List Archive

Thank you all for your responses. What can I say, except that there is lot of stuff to think about here!

From what I have read, the most important part to actually make money from all this is Money Management. That's where I am so weak; I tried to deal with low-liquidity stocks precisely because I wanted to get a leverage, but I don't see how I can do this on high liquidity stock without having to use all my money power (to get on the margin).

There is a big part on charts, indicators, etc. in the manual, but maybe it would be nice to have more explanation about all to use money management tools. Or maybe I missed the explanations.

What's my goal? 30-40% a year is what I'd like to achieve. I was able to build a system using low-liquidity stocks to build that, but that was before I realized that real-time trading has a limit of 500 "live" tickers. I tried to find a way around that problem, but well, it didn't work.

To Brian: yes I have read the messages about this. I read about 75% of everything that is written on this board. But it didn't help me enough... yet. I might have to rethink how I do things. I was (and still am) just curious to see how other people were dealing with this; is it possible to make a lot of money with this, and if yes, how ("how" is not asking for a particular code, but more general ideas). Right now I am working on high liquidity stock, but I feel like this might also be a wrong idea.

To you people who make a lot of money using automated trading code generated with AB, on what kind of markets do you do it? Stocks? Futures? Big caps, small caps?

I've read people who say a big problem is sticking to the system. Personnally I think this will be the easiest part for me; when the system will be ready I will follow it blindly. The problem to me is how to get there. 7 months might seem like not a lot of time, but I worked numerous hours on this in that timeframe and had brilliant ideas that just wouldn't do the trick. That's why I am confused right now and I was actually wondering if it was possible to make money out of this.

Thanks a for your interesting responses!

Louis

2008/7/31 sidhartha70 <sidhartha70@xxxxxxxxx>

Ohh Paul... I agree about knowing yourself as I said in my answer to
Brian. But that's a given surely...?? You only learn that from years
of trading and observing yourself... you can of course become informed
on the subject of yourself... there's plenty of literature on it...
Mark Douglas obviously.

But I stand by what I said... you can become a great trader by really
understanding trendlines, support & resistance in it's many forms and
studying price & volume action...

I know it... because I've seen it... and I've done it.

You have your techniques Paul... and good luck to you. Great if they
work for you. For me, this is what has worked for me...

Henrik thanks for your response. Good to see others agree.

Paul, might I suggest you get out more and make some more human
connections... you'd probably find you'd be happier, less angry, less
arrogant, less superior and might even enjoy some of this money you
make trading...

--- In amibroker@xxxxxxxxxxxxxxx, "Paul Ho" <paul.tsho@xxx> wrote:
>
> I'm still waiting for your to say something sensible, that's of value,
> > rather than just dig everyone out...???
>
> LOL, I just told you. YOu cant become a good trader until you know
> yourself, really know yourself. Knowing how to draw a few lines makes
> you a TA guy, not a trader. understanding the market makes you a
> market analyst. Even know how to develop a system doesnt make you a
> trader either, you are merely a system developer. When you master
> yourself, you are on your way to become a real trader.
> Just because you've been involved in trading for years, seeing others
> making millions, no more makes your a trader than me an olympian just
> because I've been watching olypmics for the last 45 years.
> You might think I'm slagging you off, but in years to come, you will
> find out for yourself whats true.
>
> --- In amibroker@xxxxxxxxxxxxxxx, "sidhartha70" <sidhartha70@>
> wrote:
> >
> > Paul,
> >
> > I programme too... nothing wrong with programming and making your
> life
> > easier. And nothing wrong with asking for someone to 'throw you a
> > bone' in that goal... I'm new to AFL. So what??
> >
> > I've been involved in trading for many years... market making, index
> > arbitrage, statistical arbitrage, long/short prop etc.. many years.
> > And some of the best money makers I've ever seen have been traders,
> > not system traders, who genuinely have a great read of the market
> > based off tape reading skills... they have achieved returns,
> > consistently, that systems traders can only dream of...
> >
> > I've traded both... systems and otherwise... you can programme all
> the
> > most complicated indictaors you like... they are all based on the
> same
> > things tape reading is... which is price & volume action...
> >
> > I'm still waiting for your to say something sensible, that's of
> value,
> > rather than just dig everyone out...???
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "Paul Ho" <paul.tsho@> wrote:
> > >
> > > learn everything you can
> > > about trendlines, support & resistance and the old tape reading
> skills
> > > and you will be miles ahead of 'system developers' in terms of
> > > actually understanding the markets and becoming a better trader.
> > > .......
> > > So you think understanding a few lines on the chart you will
> become
> > a better
> > > trader!!!
> > > So you think understanding the market will make you a better
> trader!!!
> > > So you think you are miles ahead just because you know how to
> draw a
> > lines
> > > rather than a system trader who write a few hundred lines of
> codes.
> > > NONE OF THE ABOVE WILL MAKE YOU A GOOD TRADER
> > > YOU WILL ONLY BECOME A GOOD TRADER IF YOU KNOW YOUSELF.
> > >
> > > I'LL KEEP THIS IN A SAFE PLACE AND USE IT AS A REPLY WHEN YOU ASK
> > SOMEONE TO
> > > THROW YOU A BONE.
> > >
> > > ________________________________
> > >
> > > From: amibroker@xxxxxxxxxxxxxxx
> [mailto:amibroker@xxxxxxxxxxxxxxx]
> > > On Behalf Of sidhartha70
> > > Sent: Thursday, 31 July 2008 10:47 PM
> > > To: amibroker@xxxxxxxxxxxxxxx
> > > Subject: [amibroker] Re: Anyone actually making money?
> > >
> > >
> > >
> > > Louis,
> > >
> > > Here's my tip... worth it's weight in gold. I've been doing
> this for
> > > a
> > > long time...
> > >
> > > Stop looking for the holy grail system... learn everything
> you can
> > > about trendlines, support & resistance and the old tape
> reading
> > > skills
> > > and you will be miles ahead of 'system developers' in terms of
> > > actually understanding the markets and becoming a better
> trader.
> > >
> > > Too many people spend far too much time trying to develop
> a 'system'
> > > rather than becoming a better trader.
> > >
> > > --- In amibroker@xxxxxxxxxxxxxxx
> > > <mailto:amibroker%40yahoogroups.com> , "Louis P." <rockprog80@>
> 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
> > > >
> > >
> >
>