Search results

Linux distros are a great example of what a community can do just by pooling resources and sharing work. I've always enjoyed linux, but I found my 'tinkering' time was becoming too much. It's great for a simple webserver or a personal computer, but when it comes to my trading I find that I'd...

The barrier to becoming a trader is like becoming a pro sports athlete. Some people are willing to put in the work, and some people aren't. As others have mentioned in this thread, you really have to learn EVERYTHING and then make your own conclusions and hypothesis from what you've taken in...

A demo is most beneficial just to learn the mechanics of submitting orders, setting up strategies, exiting the market, and learning the quirks of the feed. However, there is simply no way to simulate trading real money until you actually trade real money. The psychological factor in trading...

I read about half of Tim's book which was decent. Most of his edge comes from lower liquidity stocks from what I can tell, and the majority of his winners (during the book anyway) were short trades. He's pretty well-known for shorting penny stocks often...at least historically. He...

Of course trading stress would bleed into other facets of life. It is natural, especially if it is your only source of income. That's why portfolio diversification is so important. Set up an emergency fund, retirement fund, pad some savings in the bank so that short term draw-downs are less...

I've seen this over and over again in traders transitioning to live for the first time. When they transition to live they become over-conservative with profit taking and then ignore losses because they refuse to admit they were wrong. The best thing in this case I've seen is to reduce...

A lot of times it is not necessarily knowledge losing traders lack, it's their money management skills. Risk management should be a traders #1 concern at all times. Over-leveraging and maximizing risk exposure WILL catch up to a trader that is not careful at some point. However, there are...

Risk management is absolutely it. Unfortunately, many traders fall into the mindset that they're missing out on gains if they're not using the max leverage available. This couldn't be further from the truth. When using max leverage they're actually working against themselves and gambling...

I definitely agree with this. If you're successful in calling tops and bottoms, then it is a money management issue when afraid to pull the trigger. Consistently pull the trigger with a smaller amount and see if that helps ease the transition. After a few losers/winners you'll see that one...

Quantopian seems to be a pretty good solution. It is more swing-trading centered from what I can tell, but they have a pretty good user-base and plenty of sample code to view to get started.

To be honest the barrier to trading will be pretty tough to break down to become profitable. You sound like a bright guy though, so it's definitely doable. Here's my take on your situation. The chances of being profitable for both #2 & 3 can actually be pretty similar. It's hard to make a...

A possible 90% drawdown for the chance at 50% profitability seems pretty risky, but I know you mentioned that that was from the Monte Carlo simulation. I'm not sure I would personally put it into production. Maybe if I had other systems and this wasn't my only system just to spread the risk...

NinjaTrader has a built in simulator that will make up prices, but it also have Market Replay where you play back real data from prior days. Both of these options are completely free. You can also go with something like MultiCharts where like NinjaTrader you can plugin to a bunch of...

+1 here. An excel spreadsheet where you just plugin a few numbers can work wonders here.

It sounds like you already have some trading experience, but it's always good to double-check your basic knowledge. BabyPips is a great primer for understanding trading terms, basic indicators, etc. I'd recommend it if you haven't seen it before.

I know a lot of people who use DOM screens in Futures, but most traders I know in FX don't bother with a trading DOM since the market depth figures would show different broker by broker if I'm correct.

One of the biggest things people don't necessarily think about when starting out trading is the time it takes. Yes, it is more flexible as an independent trader, but hour for hour those first few years you're probably not saving much time. Treating it like a new business is exactly what...

I'm not sure if this exactly what you mean, but I've been toying around with Footprint charts next to my Trading DOM and I find it helps quite a bit. In fact, I hardly ever look at my regular candle-stick charts anymore because of it. Just to get a general sense at the end of the day maybe for...