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Thanks trdes, I will rephrase question 3: 1. Once you find a winning strategy via your back testing and forward testing performance results and you start trading that strategy live, do you stop looking for other strategies to test, or slowly scale up that 1 winning strategy that is now live...

Thank you Murray for response, You can explain on this thread or this one (https://www.elitetrader.com/et/threads/how-many-strategies-do-you-test.306749/#post-4406361) I just created so others can read and comment as well. I think the questions I ask are good for a newbie thinking of...

Hello I am slowly moving from the manual (manually back test and manual day trading) trading arena to the programming, developing, testing, and algorithmic trading arena. When a trader moves towards developing algorithmic trading systems: 1. How do you find trading strategies to program and...

Thank you Steve, I have a serious question for you that's challenging me. I know you are into automated strategies. How did you test these strategies? Manually or program then back test. So, one trading strategy does not work forever? I often hear or read that it often takes testing lots of...

Hello, I have a full time career job for paying the bills and family, etc etc. Trading for me is more of a hobby and possible additional income. It's a great challenge trying to figure our how to make consistent money comfortable and less stressful. But lately it's becoming more of an...

Murray, I don't need all that volume on chart. If I see the price moving up, then obviously it was volume that made the price go up. If price moves down, then volume made it go down. Only thing needed on the chart for me is the candles going in one direction or the other. But I wouldn't mind...

Thanks jj90, Yes, I will take a programming course for sure, just cause I may have to eventually move in the automation trading arena soon. EMAs want impact my excursion, i want for bar to close and enter on limit orders. The EMAs will be there to just for price direction (e.g., if 30 ema is...

Thanks Murray, Well, I want statistical confidence for every trade I take. The Only problem/concern I have right now is that for the strategy I now paper trade, i have limited (about 300 trades) amount of back testing data to confidence say this strategy will make money in the future and all...

Thank you jj90, Yes, I only want to trade resistance and supports in the direction of price moving on the 2 minutes time chart. Something like a breakout of support or resistance. Buttttttt here is my biggest concern. I define trend of the moment (meaning I look at 2 min chart, and say...

Thanks kent, I would like to expand to coding and automated trading, but I am afraid my experience with trading support and resistance (with no indicators on the screen) is limiting me to one trading strategy that I have invested much time in. Support and resistances I would like to program...

Chris, you mean like this?

Thanks kent, Sorry if its seems funny, but I was curious on R programming language, I only heard of C programming language with NinjaTrader. Can resistance and supports be programmed?

Thanks jj90 for response, My strategy is not HFT-ish, maybe 2 to 3 trades a day on average. Its not with numerical mathematically computations. It is simple, if price get above this horizontal line, go long if R:R=>1, vice versa for short. I use one contract. I manual back test in my spare...

Hello, Why not just skip all the programming and manual back test a trading idea for about 300 trades based historical data and review the performance metrics and start trading it live? What advantage will programming a strategy have for me? Why should I spend +10000 hours learning to...

I believe a trader should also invest in the long term along with their trading income. Just like a real job has a 401K plan.

Hello pinabetal, Good questions. I was in a trading room with a technical analysis discretionary trader just learning and follow his trades. After trying and watching most indicators (ema, rsi, macd, etc) and the candles (price action), I always noticed that the actual price on the chart...

Losing lots of money teaches us what works and what does not work for us

rajesheck, Trading is a profession and business ownership. But for those professions, there is a clear path to success after they obtain a degree. After an engineer spends 5 years in college, he/she gets a job with income automatically. A trader "can" spend 5 (or more) years and at the end of...

Correct that is what I do. But I regret not putting some time in indicators, may RSI or MACD or EMA. I simply look at price action candles only and support and resistance. I would like to use an indicator to get a better simple approach for price direction.

Good comment. I believe starting out day trading is not so bad if you are technical analysis type trader because you get more charting experience. Starring at the chart all day, gives good experiences and good ideas.