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Louis
A surgeon trained for more than a decade before his first operation.
An Engineer requires at least one decade of training including
university and practical training on the job before he can sign his
name on a buiding permit. Everything takes time to master, trading
is no different. Universities and colleges divides their teachings
into different courses at different degree of difficulties because
they know too much knowledge, too much disorganised knowledge is
bewildering and confusing to the learner. This is also true for you.
you'll have to organise the way you learn. Learn one area,
one timeframe, one technique, one style and one setup until you
master it before you move on to the next. It dosesn't seem you are
struck with that technique for the rest of your life. It just mean
you'll have to learn how to walk before you run.
There are many styles, and techniques, setups out there. Decide on
one and stick with it until you understand it, know it, proficient at
applying it before you move on. Amibroker forum is a smorgesboard of
discussions and ideas, but it can become a distraction if you are not
disciplined enough, jumping from one idea to the next, without giving
sufficient time to let it "get" to you.
You will no doubt make your own mind up. You will make a decision on
what you do based on your personality, trading styles, and perhaps
you circumstances. Some time later, you may revisit your decisions
again, but fundamentally your future will be pretty much guided by
the decisions you make today. If you understand that, then you will
also understand that you, and you alone are the cause of your own
fortune. There are plenty of people who fail and succeed in each
style. Whether that is Support and Resistance, or intrdays system
based auto-trading, and how much concentration, dedication and
tenanicity you are going to give to honour your decision, it is all
up to you.
--- 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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