Automate Price action, candles and tape reading

If one can code the experience of reading chart context, He also solves the problem of discipline. All in all, it goes back to the question if the chart context can be coded.

I did not mention his personal life since it is irrelevant to the topic
 
trend2009 said:
If one can code the experience of reading chart context, He also solves the problem of discipline. All in all, it goes back to the question if the chart context can be coded.

I did not mention his personal life since it is irrelevant to the topic
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To be clear, you do not mention personal things in his life involving his trading.

I was not talking about for example...the name of his dog, not talking about what car he drives, not talking about your favorite weekend activity you do with you're friend when you're not trading although I made a joke about being possible tennis buddies. :D
  • I'm clearly stating that you do not answer the question about if this is an online friend or a personal friend ?
  • Have you sat side by side with him in his office and watched him trade with real money...using 100% charts...there's nothing else on his monitors...only charts ?
  • Retail trader trading out of his RV, home office or local public library with WiFi ?
The above are personal things about a trader that you would know if he's your friend as in someone you personally know.

You'll be able say he that he uses one laptop only (nothing else) or four 46 inch monitors on tripods or mounted on the desk or mounted on a wall...you would mention things about his trading that only a personal friend of a trader would know about..to truly know what's on his monitors to say that he uses 100% charts.

In contrast, someone you only know via online (never watch trade in person) would not know the above for fact. Thus, you would not know that he's uses 100% charts because you've never personally seen via your own two eyes his trading days from start to finish.

By the way, the reason why I'm on this like a dog on a bone is because you keep mentioning "your friend" and "his trading". :sneaky:

I'll let go of the bone now. :D

wrbtrader
 
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The shorter your trading timeframe the more conflict you will get with competing programs. I believe but have not proven is that the retail trader needs to look for a bigger picture and pick instruments that allow for more girth...like the micro-futures for example.

ES
 
ElectricSavant said:
The shorter your trading timeframe the more conflict you will get with competing programs...

ES
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I believe this too. Yet, at the same time, wouldn't there be automated trading systems out there that trade longer time frames like daily, weekly or monthly ?

I say this because once in awhile I would see an analyst on TV or a quant say in a financial magazine article that their firm's models have now sold something they've had had for many days, weeks or months as part of their portfolio.

That would tell me that automation trading is not exclusive to small time frames and that there's firms or retail traders doing both via automation trading besides always hearing about the popularity of HFT...fear presented by the media that HFT is controlling the markets.

Simply, I think competing automation programs out there are by firms doing short-term and long-term trading.

wrbtrader
 
A new frontier?

ES

wrbtrader said:
I believe this too. Yet, at the same time, wouldn't there be automated trading systems out there that trade longer time frames like daily, weekly or monthly ?

I say this because once in awhile I would see an analyst on TV or a quant say in a financial magazine article that their firm's models have now sold something they've had had for many days, weeks or months as part of their portfolio.

That would tell me that automation trading is not exclusive to small time frames and that there's firms or retail traders doing both via automation trading besides always hearing about the popularity of HFT...fear presented by the media that HFT is controlling the markets.

Simply, I think competing automation programs out there are by firms doing short-term and long-term trading.

wrbtrader
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wrbtrader said:
I believe this too. Yet, at the same time, wouldn't there be automated trading systems out there that trade longer time frames like daily, weekly or monthly ?
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Automation doesn't have any edge over human traders on those timeframes. HFT brutalized scalpers because they held an edge in speed: the computers can react far more quickly to a much wider range of data. If you're trying to trade breakouts on a monthly chart, and do so systematically with 100% objective rules, it's irrelevant whether a human or a computer program physically enters the orders.
 
Specterx said:
Automation doesn't have any edge over human traders on those timeframes. HFT brutalized scalpers because they held an edge in speed: the computers can react far more quickly to a much wider range of data. If you're trying to trade breakouts on a monthly chart, and do so systematically with 100% objective rules, it's irrelevant whether a human or a computer program physically enters the orders.
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HFT also has an edge in fees.

Also, I don't know how well automation performs on the higher time frames but with all the news the past few years about the poor performance by firms (their quants)...I'm going to assume that poor performance occurs on the higher time frames too.

wrbtrader
 
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