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Spot on. Considering your thought process, you might have a shot at this. Start with these three areas. 1. Catalysts 2. Speed 3. Control Good luck

I'm no Jim Simons, but I can hold my own. Quant work is just the tip of the iceberg. Building an execution engine that can capture the price anomalies is equally challenging. A monumental task for a lone wolf operator.

You need an edge with a defined positive expectancy, PERIOD. No ifs, ands, and buts. Both sides of expectancy need to be measured accurately. Trade win percentage and R/R are the basis for a successful daytrader. 99% of traders have no clue how to accurately define either. If you are not a...

What kind of circus is this? Shut this drivel thread down.

This is 100% true. Because of the low operating costs, and poor resources a retail trader has, to have a monthly net-winning intraday system is basically printing money. It's rare for a reason. It requires a very abstract and multi-dimensional thought process to hit any pay dirt.

Of course there is evidence. It's right in front of us. Try and place a limit order at the first visual sign of a fast moving market manually, then go back to the time & sales window and look at the multiple orders that got filled ahead of yours at better prices. This is how programs shift the...

This is excellent advice. Also, if programming proficiency creates any roadblocks, consider hiring a coder experienced with trading software. It will speed up the process. Good luck

If you think that's a joke, you're completely clueless of the pecking order and rules within the order microstructure, and how your competition uses it to stay steps ahead. I doubt you'll ever make a dime in this business if you think you're gonna handjob your way into the order queue. No...

Is Goodboy your real last name??

Won't what??

Great point actually. Although a net loser when I used charts, I couldn't have structured my approach without them. I needed that spatial view.

@themickey Definitely tend to read people wrong, but thankfully numbers right (most of the time). My apologies

Close to order flow, within retail capability. The spread is a good starting point though.

There is a forecasting edge in past price analysis, but it disappears within seconds, and not at bar chart level as @lovetotrade mentioned.

I sense the sarcasm here, but seriously, if you see a properly designed and implemented auto program in action (which you probably haven't) you'd instantly realize how it can dance circles around you.

I grossly underestimated the competition, and margins for error in this industry when I traded off charts. It wasn't until I started fragmenting the limited amount of ranges, and time, that I realized how hard it is to be consistent month-to-month. Personally, I hope discretionary chart pattern...

I've never found success trading chart patterns. Spent countless hours on traditional, and non-traditional pattern analysis. It wasn't a fruitless endeavor, just a costly one. When I stepped back and decided to pursue quantitative trading, the chart time and trading experience helped me...

Just curious. Are you implying that IB is accountability incompetent? Confused here.

No doubt, and if his models revolve around smaller capacity instruments you can subtract 1/2 the potential. It's hard to build a good forecasting model around retracements, so he should plan on chasing breakouts above offer. Basically bending over backwards on a daily basis, or get bombarded...

New member here, but been through the grinder already. Here is my advice for intraday auto-trading: 1) Start with capacity constrained markets (as sle metioned) 2) Focus on event-driven trading/testing (not easy to test) 3) Use a quality tick data provider and software that can implement it