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Hey Herman,
I disagree with your comment about not learning from experienced
traders. If that were true, why would a newbie listen to any advice an
experienced trader like you has to offer?
At the risk of offending you further, here is another quote from the
trader with 20+ years of experience:
"Using the same trading technique and exit strategy in all market
conditions is likely to give you lots of practice at taking drawdowns."
While the website I am quoting from (daisydogger) is a commercial site
that sells trading information, there is some free information that
should be valuable for beginners. In particular the article that
describes a trading set up which includes how the trading parameters
were optimized and the article on adaptive trading (how to adjust your
trading to current market conditions). I wish I had that information
when I started, it would have saved me a lot of time.
Your suggestion that every newbie reinvent the wheel is likely to
result in discovering 10,000 things that don't work before finding one
that does.
Bill
--- In amibroker@xxxxxxxxxxxxxxx, "Herman" <psytek@xxx> wrote:
>
> I think it is a mistake for any beginner to try and imitate traders
with 20+
> years of, perhaps full time, market-related experience. These
traders didn't
> always trade the same way either, times change and so do the markets. If
> they are still trading they must have adapted many times. They
probably have
> developed skills that they can't communicate and that they
themselves may
> not even be aware of. Listening too carefull to anyone, without
having the
> same background, is going to cost you money. Big money if you take
them too
> serious. I speak from experience. Only if you do your own thing will you
> understand your actions and be a responsible trader. And, don't jump
in with
> big money. There is no shame in trading 1 share to prove a system.
>
> Take it easy, experiment, sit back and look at charts, try coding some
> simple systems. Remember: It's got to be fun! Trading system do not
have to
> be complicated. The best systems use simple techniques, with perhaps
just a
> dozen of AFL lines at most. Much the the coding complexities you see
> discussed here have little or nothing to do with developing a trading
> principle. Testing systems, even if they don't make money, will reveal
> things about the market that no amount of chart/tape reading can
teach you.
> Sooner or later you'll have a reportoire of simple ideas that you can
> trade - that will be the time that you start posting on this list for
> programming help :-)
>
> AmiBroker will not make money for you but it is (imo) the best
development
> tool around.
>
> Happy development,
> herman
>
>
>
> -----Original Message-----
> From: amibroker@xxxxxxxxxxxxxxx [mailto:amibroker@xxxxxxxxxxxxxxx]On
> Behalf Of Paul Ho
> Sent: July 31, 2008 9:49 AM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: [amibroker] Re: Anyone actually making money?
>
>
> 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
> > > >
> > >
> >
>
>
>
> ------------------------------------
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