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Louis,
You started a great thread.
People must really like you because in my time in the forum I haven't
seen this many traders come out to an AB gathering before.
They are nearly all good comments and there are some great people
there (I can see a little bit of my trading self in most of the
comments, even when they appear to contradict each other).
Over to you (some points from a different angle):
- so that you are not on my conscience for the next few years.
There are no guarantees for anybody. The only certainty is that
anyone who persists, with earnest endeavour over the years, will
become a very good investor (superior to the average citizen) and
will be able to
a) work and invest after hours, to get 20-25% (in a few hours a week)
b) retire and manage their own money astutely (as above returns/time
input)
- I am a little concerned about your temperament and motivation for
the task at hand.
For one thing, you seem to go from table to table, sipping on the
soup but not staying for the entree and the mains (maybe you
shouldn't look for the perfect meal but just eat one to the end, as
other said).
(Please excuse me for my public dissection of your character - my
intention is to help you).
- I am concerned that perhaps you have the potential to lose bigtime
again (please be very careful).
- It takes all types to make the world go around.
I am not certain about it but you may well be a person who needs a
mentor, or to work in a group. Possibly you would be good in a
trading group because you are a likeable fellow and you don't get
knocked off easily by the argy bargy that goes on in groups.
Even before Barry posted I was starting to think that you might be
better buying a trade, or paying a mentor, (someone from this group
might be good because at least they use the same software and you
will probably already know something about them).
I have bought a couple of systems, and they were duds but I learnt
plenty. Just because I picked a dud doesn't mean they are all no good.
Perhaps you could pick someone in this thread you like and email them
to see if they will sell you a 20-30% trade to get you started OR see
if they will mentor you for a set fee per week OR
some prospective mentors could email you privately, with an offer (it
can't do any harm to consider them).
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "Louis P." <rockprog80@xxx> wrote:
>
> 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@xxx>
>
> > 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 <amibroker%
40yahoogroups.com>, "Paul Ho"
> > <paul.tsho@> 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 <amibroker%40yahoogroups.com>,
> > "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 <amibroker%
40yahoogroups.com>, "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 <amibroker%
40yahoogroups.com>
> > > [mailto:amibroker@xxxxxxxxxxxxxxx <amibroker%40yahoogroups.com>]
> > > > > On Behalf Of sidhartha70
> > > > > Sent: Thursday, 31 July 2008 10:47 PM
> > > > > To: amibroker@xxxxxxxxxxxxxxx <amibroker%40yahoogroups.com>
> > > > > 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 <amibroker%
40yahoogroups.com>
> > > > > <mailto:amibroker%40yahoogroups.com <amibroker%
2540yahoogroups.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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