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Up 10% by Monday???? What grass are you smoking? :p

I think your idea of just giving her some play money and letting her at it is a good one. Once the trading bug bites, it bites hard. She will either come up against the realities of the markets real fast, or she may just surprise you by being one of those people with an in-built talent and...

Exactly. I found that 3 months is too short of a period to go on to set my parameters. Tuning them to one 3-month period results in disastrous performance in the next 3 months. 6 months comes out better, but can still be thrown off. I went with 2 years in the end, mainly because that's all...

Ah, there's the rub. You still have discretionary inputs to an otherwise automatic system. I've found it's best to find one set of parameters and stick with them day in, day out. The trick is finding the right ones that give you a <i>consistent edge over a long period of time</i>. Attempting to...

Don't know, but the Chicago one was fun. There were people there who hadn't left the trading pits in years. Looked like sunlight had never touched their skin. They may even be starting to mutate into a subspecies.

I went to the Trade Pride parade at the weekend, outside the CME. All sorts of odd looking characters there.

First, pick a fixed stop and limit offset, that you will use for both long and short trades. Then go long, and do not touch your stop and limit orders no matter what happens. Once the trade exits, either way, go short with the same stop and limit offsets. Rinse and repeat.

If you like to trade randomness and chop, this <i>is</i> trading heaven. For me, however, it is just making up for getting killed during the night with that massive YM move down and back up. The market takes with one hand and gives back with the other.

Of course. This <i>is</i> supposed to be a bull market, after all.

I'm not worried ... tomorrow's close will be lower. I believe 1230 will be tested before all is said and done.

1,251.91 according to Google Finance ...

1252.64 .... oh man, this is killing me!

Yeah, I was bracing for that as I was reading the thread. Maybe the idiotic element on ET don't read this forum :) Good luck with the ATS, BTW, from a fellow automated trader.

Watch out .. today seems like one of those that may have a sting in the tail. I wouldn't be long right now.

I found my optimal stop/limit combination by backtesting using historical data. Only then did I use them going forward with real money.

The day trader's psychology is without doubt his number one enemy. Doesn't matter what instrument he trades, or whether he trades discretionary or automated. It's what's between his ears that dictates success or failure.

Gold!

Will he come back after 1252 is surpassed again?

Another way to overcome the mental wall is to use a purely mechanical, automated system. Cold, emotionless, and ever alert, just like the markets themselves.

The market does the opposite of whatever "they" say, more often than not. It's almost a counter indicator. I get a good laugh most mornings from seeing what CNN says "should" happen to stocks, according to what the futures have been doing overnight.