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You have to develop the system first, taking into
consideration the system issues, such as delays. If you are trading as a
scalper, forget automation. If you are trading the longer cycles and larger
price move then automation can be practical.
I think you need to go in phases:
1. Decide that your trading is reasonable for
automation
- Trade delays are
incosequential (longer cycles)
- You trade relatively liquid
issues
- Trade with limit order, as
market order are a problem when delays are present.
- Stop loss orders should be at
market
2. Create trade alerts and trade manually, so you
can evaluate system performance in a qualitative way. Is it doing what you want
it to do
3. Write to disk all trades and trade parameters
(time, quantity, price etc. to have a record of performance. This is what auto
trading would see.
4. Compare this performance to actual auto trade
results (paper trade at first ... even though the paper trading platform is not
as good as the real trading platform)
5. Trading indeces (ETFs, Sectors, Industries, etc)
may work better than stocks as they are smoother and indicators typically work
better
----- Original Message -----
Sent: Thursday, July 31, 2008 10:50
AM
Subject: Re: [amibroker] Re: Anyone
actually making money?
Thomas: Maybe if I can find a sound money management system then
I'd be more than happy to play it discretionary, but so far I think I would be
wise to concentrate on building a system that work and rely on it! Ara:
This is interesting, but again this is automated system; I'd have to learn how
to use it.. But if that's what I need, then I will do it. Would you
recommand first finding a system that work and then making it better with
automated trading, or building the system considering that there will be no
delay for the trades because it will be
automated? Thanks, Louis
2008/7/31 Ara Kaloustian <ara1@xxxxxxxxxx>
Herman has done a bunch of work in this area
and his conclusion was (and I paraphrase) that the delays in autotrade
become negligable if you trade with 3 min bar charts (or
longer).
-----
Original Message -----
Sent:
Thursday, July 31, 2008 9:48 AM
Subject:
Re: [amibroker] Re: Anyone actually making money?
To Tom: Do you use IB automatic trading? Is it possible
to test such feature? I find that intraday trade delay is a major
reason why I don't make any money. If I was faster I could do
better. Thanks, Louis
2008/7/31 <professor@xxxxxxxxxxxxxx>
> Is it not obvious to you that some people�s personality calls
for a
trading system, while others personality calls for a
discretionary
approach.
I think that is the best thing that
I've read on this thread!
I agree. I have found that I am too
emotional to try day trading because I make emotional decisions. That is
why I developed an EOD program to trade. When that was very
profitable, I had my EOD program converted to a real time program
and auto trade. I use a dat/night chart and only trade 3 times a day.
Now I just watch to make sure the auto trade is working
correctly.
Tom
-----
Original Message -----
Sent:
Thursday, July 31, 2008 7:31 AM
Subject:
SV: [amibroker] Re: Anyone actually making money?
> Is it not obvious to you that some people�s personality
calls for a
trading system, while others personality calls for a
discretionary
approach.
I think that is the best thing that
I've read on this
thread!
Tuzo
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