That's too bad. I show it traded at $.95 at the open. Quadruple almost. Probably a fluke trade, but you'd have at least doubled your money and then some. Traded at $.65 on good volume. Oh well.
Almost everyone is lying. Because there's no such...
- Thread starter DeadTrader
- Start date
your name is deadtrader. isn't this a self-fulfilling prophecy? so you choose this name already knowing you will fail as a trader? me think you are trolling.
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From what I have come to understand, traders who claim to make millions in a short time are not traders but marketers. Marketers will say anything to make you invest or buy that products. Whenever I see an affiliate trying to woo me with his success rate I run as quick as I can from him. Real successful traders are patient and are mostly long term traders. These ones wait for weeks to see the market go in their favor as they've analyzed. This also requires huge capital or margin to hold your trades for as long as it takes. There is no magic system.
Here is the secret just for those that are reading this thread.
SPY daily options Monday, Wednesday and Friday.
As an example.
Slightly out of the money Friday May 17 287 calls for .07.
Buy 10 for $70 plus commission of $19.50 for $89.50.
Sell at .98 for $980 minus $19.50 For $960.50.
Not bad for 2 hours work.
SPY does not always trend up so you have to call it right but that'swhere
you needed the experience of watching there market.
If it's going to trend down then a put spread will work for more commission cost.
SPY daily options Monday, Wednesday and Friday.
As an example.
Slightly out of the money Friday May 17 287 calls for .07.
Buy 10 for $70 plus commission of $19.50 for $89.50.
Sell at .98 for $980 minus $19.50 For $960.50.
Not bad for 2 hours work.
SPY does not always trend up so you have to call it right but that'swhere
you needed the experience of watching there market.
If it's going to trend down then a put spread will work for more commission cost.
I'd agree most all trading vendors and educators are scammers & "liars". But I wouldn't call them "traders". Most real traders do not vend or sell room memberships or products. You've probably have not come into contact with real profitable traders yet, and there are some on this forum I believe. I'd agree it's extremely rare to find a real trader who would teach. And why would they, as a successful trader wouldn't have to teach strangers or sell subscriptions and fees to make a living.
Oh geez. "Warrior Trading". The fake glasses and beardo Ross and his partners in trading room fakery. I got suckered in his room for a few months. Thankfully I never bought his crap course. If you haven't done so already what you need to do is learn to be more aware of how these scammers operate by going to tradingschools.org and peruse the reviews there. Think of a vendor or site name, and type it in the search box on the top of the page. There's a good chance Emmett has mentioned or reviewed your query sometime in his hundreds of reviews of exposing these scammers.
I'd never figured out order flow trading either. Supposedly some have developed a sixth sense seeing a splurge or split-second onrush of volume in whatever OF tools used and can turn it into scalping a few ticks. I could never get it and a few OF strategies I looked for never seemd to work as the locals and big money can apparently seem to iceberg misdirect and disguise anything.
I like to use these in my trading. Of course the PA and patterns are often not or never perfect like typical book or video examples so you need to practice using your own filtering or trade management strategies with them.
I gave up on automation (just a bunch of nt7 strategy runs) after a stint. I do belive semi-auto and observed running algos could have been profitable for HFT firms. As it was reported some HFT firms made billions in the markets in some years following the 2008 crisis , when most funds and retailers continued to struggle.
It's probably not reported for the most part. Successful trading firms or individuals mostly, probably don't expose all their trading to the public or even let themselves be known. All we have are a few outstanding cases occasionally reported in the news. Like this guy who has his face hidden: https://www.washingtonpost.com/busi...ory.html?noredirect=on&utm_term=.6d830853376d
I'd agree maintaining a 50% win rate month to month consistently for years is probably not realistic. However, it can vary with some good months and some good years.
Well, see you found some pattern or edge on your own. Now you can continue to work on it, try using some filters, or different trade management strategies to make it work for you.
You might have burned out too fast, and should have traded smaller and part-time and not tried to trade fulltime with high profit % goals yet, until you were consistent with minimal small trading with funds you could afford to lose or sim. (and also avoid the scammers' hefty fees and garbage courses & products, which I agree can waste a lot of time and funds otherwise used for practicing trading)
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Hi DeadTrader (hopefully you are still alive),
I'm a data-scientist and coder as well. I will be honest with you. I have also subscribed the courses you have mentioned and my account is still active
I agree with you that technical analysis does not work alone. I'm not saying that you need to add fundamentals. However, you should consider some statistical approach. I know what you are trying to tell. What markets did you try? I hope it's not forex because forex is not predictable. Stocks market in the other hand is predictable. Your system needs to find anomalies. Obvious ones. I urge you to go ahead and watch interviews with Jim Simons, founder of renaissance technologies.
One more thing i would like to add. How do you backtest your strategies? What data do you have? Is it tick data? 1m? 1h? 1d? Maybe your backtest is not reliable. Try quantopian, quantconnect and etc.
Forget everything. Do not try to find known indicators or strategies. They don't work anymore. Most traders make money by scalping or trading options.
Trading options, protects you against stop fishing. However, it can be dangerous. Just look for buying calls/puts which looks safer.
Futures trading is not for beginners. Risk is very high if you don't have enough amount in your balance. For example; you can trade E-mini ES with only $500 day margin but 1 tick = $12.50. So if you stopped by 20 ticks, you are going to lose 50% of your balance. Even micros are risky. Let's say you have lost 20 ticks in micros which means 5% of your entire balance.
You need to trade micros in futures, if your account balance is smaller than $10.000. Risk management is not easy in futures.
Forex in the other hand is easy. Easy to manage your risk and easy to wipe your account. It's not predictable.
Go ahead and try your algos in quantopian, quantconnect or etc. Do not write your own backtesting algo. Try to beat SPY benchmark in 4-5 years.
Or reach me out! I will not be able to share my algo but will try to help you.
I'm a data-scientist and coder as well. I will be honest with you. I have also subscribed the courses you have mentioned and my account is still active
I agree with you that technical analysis does not work alone. I'm not saying that you need to add fundamentals. However, you should consider some statistical approach. I know what you are trying to tell. What markets did you try? I hope it's not forex because forex is not predictable. Stocks market in the other hand is predictable. Your system needs to find anomalies. Obvious ones. I urge you to go ahead and watch interviews with Jim Simons, founder of renaissance technologies.
One more thing i would like to add. How do you backtest your strategies? What data do you have? Is it tick data? 1m? 1h? 1d? Maybe your backtest is not reliable. Try quantopian, quantconnect and etc.
Forget everything. Do not try to find known indicators or strategies. They don't work anymore. Most traders make money by scalping or trading options.
Trading options, protects you against stop fishing. However, it can be dangerous. Just look for buying calls/puts which looks safer.
Futures trading is not for beginners. Risk is very high if you don't have enough amount in your balance. For example; you can trade E-mini ES with only $500 day margin but 1 tick = $12.50. So if you stopped by 20 ticks, you are going to lose 50% of your balance. Even micros are risky. Let's say you have lost 20 ticks in micros which means 5% of your entire balance.
You need to trade micros in futures, if your account balance is smaller than $10.000. Risk management is not easy in futures.
Forex in the other hand is easy. Easy to manage your risk and easy to wipe your account. It's not predictable.
Go ahead and try your algos in quantopian, quantconnect or etc. Do not write your own backtesting algo. Try to beat SPY benchmark in 4-5 years.
Or reach me out! I will not be able to share my algo but will try to help you.
From reading your post, I can tell you know what you are doing.Hi DeadTrader (hopefully you are still alive),
I'm a data-scientist and coder as well. I will be honest with you. I have also subscribed the courses you have mentioned and my account is still active
I agree with you that technical analysis does not work alone. I'm not saying that you need to add fundamentals. However, you should consider some statistical approach. I know what you are trying to tell. What markets did you try? I hope it's not forex because forex is not predictable. Stocks market in the other hand is predictable. Your system needs to find anomalies. Obvious ones. I urge you to go ahead and watch interviews with Jim Simons, founder of renaissance technologies.
One more thing i would like to add. How do you backtest your strategies? What data do you have? Is it tick data? 1m? 1h? 1d? Maybe your backtest is not reliable. Try quantopian, quantconnect and etc.
Forget everything. Do not try to find known indicators or strategies. They don't work anymore. Most traders make money by scalping or trading options.
Trading options, protects you against stop fishing. However, it can be dangerous. Just look for buying calls/puts which looks safer.
Futures trading is not for beginners. Risk is very high if you don't have enough amount in your balance. For example; you can trade E-mini ES with only $500 day margin but 1 tick = $12.50. So if you stopped by 20 ticks, you are going to lose 50% of your balance. Even micros are risky. Let's say you have lost 20 ticks in micros which means 5% of your entire balance.
You need to trade micros in futures, if your account balance is smaller than $10.000. Risk management is not easy in futures.
Forex in the other hand is easy. Easy to manage your risk and easy to wipe your account. It's not predictable.
Go ahead and try your algos in quantopian, quantconnect or etc. Do not write your own backtesting algo. Try to beat SPY benchmark in 4-5 years.
Or reach me out! I will not be able to share my algo but will try to help you.
Do have one question for you: Why shouldn't I write my own backtesting algo? I have been trying to write and backtest with my own algo since 2013.
Don't be so sure.