100k or Blowout - My First Discretionary Day Trading System

[d08]

Wow...that's deep twilight zone stuff statement. Now that cannabis is legal here in Canada...time to get a joint, read through my latest photography magazine that arrived in the mail the other day to go further down that rabbit hole.

Thanks

wrbtrader

To elaborate, I mean that we are emotional beings, some more than others. My goal is not to become robotic to trade but leave to robo stuff to those that are really the masters of it, you know - computers.

 

[Turveyd]

To elaborate, I mean that we are emotional beings, some more than others. My goal is not to become robotic to trade but leave to robo stuff to those that are really the masters of it, you know - computers.

I trade to kinda but not fully get away from computers, although I did try automation 10years back maybe, too much like my day job and I don't really believe based on experience that a computer system can work well for trading. I vowed never to waste time on that concept again.

 

[RedDuke]

I trade to kinda but not fully get away from computers, although I did try automation 10years back maybe, too much like my day job and I don't really believe based on experience that a computer system can work well for trading. I vowed never to waste time on that concept again.

Care to eleboate what you did that did not work.

 

[Turveyd]

Care to eleboate what you did that did not work.

All computers can do is follow simple instructions, too many variables in trades, computer cant get a feel for the day and act accordingly.

Only way to do it, is to have a library of systems pre coded then you load the correct 1 that suites conditions, but conditions change so your going to be sat there all day monitoring systems, might aswell just trade.

 

[RedDuke]

All computers can do is follow simple instructions, too many variables in trades, computer cant get a feel for the day and act accordingly.

Only way to do it, is to have a library of systems pre coded then you load the correct 1 that suites conditions, but conditions change so your going to be sat there all day monitoring systems, might aswell just trade.

I went a different way. My algos analyze the market and adopt/change as conditions change. I get a text upon each event entry, exit, stoploss change and etc, I then login to broker to make sure all is well there. No need to sit in front of PC. Obsesne amount of work went into it over last 2 years.

 

[Turveyd]

I went a different way. My algos analyze the market and adopt/change as conditions change. I get a text upon each event entry, exit, stoploss change and etc, I then login to broker to make sure all is well there. No need to sit in front of PC. Obsesne amount of work went into it over last 2 years.

impressive if true, but nobody has ever stepped up and offered proof to still in my not real list till then.

Yes EA's make a large sum of momey with monitoring on competition sites, but there pretty much just getting lucky as the month after the same EA just kills the account.

 

[d08]

The best algorithms don't make it to any competitions, they are used to make money.
Also, Collective2 has had multiple consistent high R/R systems that have gone private.

It was obvious 14 years ago to me that automation is the way to go. I'm even more convinced now.

 

[Turveyd]

The best algorithms don't make it to any competitions, they are used to make money.
Also, Collective2 has had multiple consistent high R/R systems that have gone private.

It was obvious 14 years ago to me that automation is the way to go. I'm even more convinced now.

And from what your saying, you havent mastered this yourself in 14years of try? ( on 14years day trading manual not quite consistent yet so cant criticise the time )

 

[Sprout]

Many if not most of us are algo trading because we have emotions that can be distracting. Beside that, algo trading means you can have 200 positions opening and closing at once while you're sitting on the balcony while sipping coffee and staring into nothingness.
Yet, I believe 'mastering' your emotions too much will have a negative impact in other aspects of your life.
My insignificant discretionary trading experiments have had mediocre to poor results.

If you are experiencing that result in relation to your emotions perhaps ‘mastering’ isn’t the best approach in one’s relationship to their emotions.

Emotional intelligence is much more vast and informative than the discounting sound bites of how a typical trader relates to it.

To live a life devoid of emotional content comes across as if one would rather be a machine.

Trading is certainly counter-intuitive without training. However decontructing the market into it’s basic granularity and constructing one’s own indicators from scratch using logic, deduction, annotating, logging and journaling goes far in developing the most advanced ‘computer’ we all have developed over eons of evolution.

Even though it didn’t come with an owner’s nor instruction manual tuning into the ‘feeling’ of whether success is possible or not in discretionary trading puts one on completely different trajectories. The difference is similar to the difference between an arrow let loose from the bow and a laser focused, self-guided missle.

Algorithms are as good as the mind creating them.

 

[Sprout]

To elaborate, I mean that we are emotional beings, some more than others. My goal is not to become robotic to trade but leave to robo stuff to those that are really the masters of it, you know - computers.

Agreed.