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Yes, after a LOT of hard work you may have a system that has a sustainable edge. But you will have to experience all the usual trading pains prior to getting there. You will most likely have some tough decisions to make when it starts to deviate. It's no different from a successful manual...

SEC must make all exchanges disclose latencies, intended or unintended, as far as access points to exchanges are concerned. Otherwise, you are playing favorites. Allowing an exchange to introduce deliberate one-sided delays was a mistake the SEC won't want to admit.

I m not sure I agree. Scalpers don't have to complete with algos. Actually, scalpers can use the fact that most institutional algos try to accomplish the same thing at the same time as an advantage. I'm not talking about scalping for single tick obviously, as you get into hft territory. But...

I tried doing something similar. I was trying to daytrade my way into a swing position. I ended up doing poor job day trading as I would simply categorize loosing trades as a sub-par swing trade entry :) I was over trading. Your results maybe different of course.

Sorry, I don't buy it. Trading challenges cannot be overcome by automation alone. You either have unshakable confidence in your system until you blow up(or become rich enough to shut it down - never happened to anyone), or you constantly making decisions ... You are in effect manually trading...

Day trading systems have time constraints that most other systems don't. If you get yourself in a jam prior to close, you are screwed.

I think most retail traders care about the outcome too much. They start trading to escape something. They have too much riding on the trades. Figuring out what to do, while a challenge in itself, is just the start. Doing the right thing, no matter what the outcome, is the hard part. So make it...

Was scanning your website a bit more today ... cool stuff. I think it would be great to be able to automatically query your server for all this kind of info you calculate. For example, I would like to day trade automatically and have a way to query for something like "give me high and low...

Dan, welcome! I would like you to create a feed which publishes all your clients alerts per symbol. I think ToS has some sort of sentiment indicator based on how their clients positioned. I'm serious ... Will become more valuable as you grow customer base. I get a free lifetime subscription...

Doesn't everyone? There's no right way. I personally like to play according to my pnl. I want to play tight when I start and loosen up as equity curve builds up. It doesn't matter what you consider a start to be - day, month, year, lifetime. I think backtesting is very misleading on this ...

Do you need to wander? Either position size for 50% loss or just understand it's part of the game you are playing and is completely normal/acceptable. No keys will save you from fleeting liquidity.

Well this guy needs it as an example:

It so happens, I m re-reading the book as it is my "bible" of trading. How about his Tandem Trading? How about following the leaders? He kept his own detailed records, in effect, creating his own indicators. I know what you mean, just don't want people to take it literally. All the answers...

Agreed again, but my point is he may be the best a retailer/beginner has access to. What he preaches has a lot of validity. A good place to start IMHO.

Which instrument(s)?

You have many valid points here. Simple question - can you set up your simulator with 2m BP and make 2-3k a day consistently? If the answer is no, maybe you have something to learn. If the answer is yes, you should have no problem getting 2m in BP from a prop shop after trading on their...

So throw a dart to pick an instrument, risk no more than 2%, close position once 2R is reached. Rinse and repeat? You must have an amazing risk management system no one else was able to figure out.

That easy, ha.

I mostly use the most popular ones as sentiment indicators. I like Advancers/Decliners and TICK indicators - they don't lie. VWAP around the open. I like to know what others use as these often become self fullfilling prophecies. Out of context no indicator is useful, in context they all have...

You know, I've been wandering about this. I've noticed that the gurus are almost always willing to share their knowledge. They don't try to hide anything. Why? The conclusion I came up with is that while the skill is transferable, the talent never is. I think this applies to any endeavor -...