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A lot has been said on this thread .... and it is an issue that has come up
before...
It seems clear to me that trading style is very personal ... and one should
stay with the style that allows them to avoid emotional decision.
I have friends who have been trading emini futures very profitably and very
consistantly. My personal experience has been rather spotty even with the
knowledge of my friends' systems.
Others do well with EOD ... just a matter of a reasonable system and good
money management. Good MM also helps keep emotions under control
Auto trading seems like such a wonderful thing (I want it also but am not
quite there yet), but we must learn it's limitations and pitfalls ... as in
any other system.
Happy trading
Ara
----- Original Message -----
From: "bilbo0211" <wjdandreta@xxxxxxxxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Thursday, July 31, 2008 10:25 AM
Subject: [amibroker] Re: Anyone actually making money?
> 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
>> > > >
>> > >
>> >
>>
>>
>>
>> ------------------------------------
>>
>> Please note that this group is for discussion between users only.
>>
>> To get support from AmiBroker please send an e-mail directly to
>> SUPPORT {at} amibroker.com
>>
>> For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
>> http://www.amibroker.com/devlog/
>>
>> For other support material please check also:
>> http://www.amibroker.com/support.html
>> Yahoo! Groups Links
>>
>
>
>
> ------------------------------------
>
> Please note that this group is for discussion between users only.
>
> To get support from AmiBroker please send an e-mail directly to
> SUPPORT {at} amibroker.com
>
> For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
> http://www.amibroker.com/devlog/
>
> For other support material please check also:
> http://www.amibroker.com/support.html
> Yahoo! Groups Links
>
>
>
------------------------------------
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