Advice on Advanced Trading Strategies and Market Analysis Tools

L

lizaclarr

Hello there,

I have been trading for a few years now and have had some success with basic strategies; but I am looking to take my trading to the next level. I have primarily focused on equities and some options trading, but I am eager to expand my knowledge and explore more advanced strategies and tools.

I have been reading up on algorithmic trading and am particularly interested in learning how to develop and implement my own algorithms. I have a basic understanding of Python and have dabbled in some simple backtesting; but I am unsure how to progress from here.

Can anyone recommend resources or courses that have been particularly helpful in mastering algorithmic trading?

Additionally; I am curious about the best market analysis tools available. I currently use TradingView for charting and technical analysis; but I am wondering if there are other platforms or software that offer more advanced features or better data integration. What tools do you all find indispensable for your trading workflows?

Also, I have gone through this post; https://www.elitetrader.com/et/threads/best-options-strategies-for-advanced-blue-prism/ which definitely helped me out a lot.

Lastly, I am interested in learning more about risk management techniques. While I have read about various methods; such as position sizing and stop loss strategies; I am looking for practical advice on how to effectively implement these in real time trading scenarios.

Thank you in advance for your help and assistance.
 
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Larry ''Mint'' Hite has a good rule on risk; never risk more than you could stand to lose.
2]Mark Cook also limits his risk with a budget, most likely like Dave Ramsey budget;
and farming business.
6] I did not remember his June rule , but somewhat timely now;
Mark Cook does not trade in June or on certain Fridays.
No wonder, if SPY averages June= 00.03% or 3 cents , may want something better or something else:D:D
 
lizaclarr said:
Lastly, I am interested in learning more about risk management techniques. While I have read about various methods; such as position sizing and stop loss strategies; I am looking for practical advice on how to effectively implement these in real time trading scenarios.
More...

Hi,
from my personal experience, other than having a % risk as baseline, I've implemented an environment based system where my % risk is diminish or get elevated based on the market environment.
for example: let's say I am an intraday trader.. If "x" market is into a Daily Consolidation/Rangebound, even if I do expect lower prices longer term - I would risk 0.25% in my intraday trades; in the other case.. on a directional Daily Market environment, I can risk 0.5% or 1% per intraday trade. This helps me managing my equity and losing streaks on difficult periods. It also helps with your psychological aspect.
I found my self good with it. Consider applying other risk % managements rules within it - like cutting risk % in half after a losing trade instead of rising it.
 
have plenty experience in back testing, designing trade system and the many challenges. Not a programmer but happy to give some tips if you have specific questions.
 
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