Discipline is the first you should practice

[Turveyd]

Hard to say what exactly people had in mind while making their selection.

The poll-size is too small to get the exact picture (you would need at least 10x to be sure) but clearly a substantial part of members use automated systems.

The more interesting question is how it correlates with performance and other indicators. However, putting this question in might drastically reduce the number of answers.

Personally, I tend to think that automated systems tend to free their designers from manual labor to creative intellectual labor. Of course, automation comes with its own cost of development and support. Also, some complicated strategies cannot be easily automated and a few very profitable traders might be just very clever 'manual' participants.

I'm a programmer coming up for 40years, messed with some MT4 EA's 10years back, I refuse to waste more time on that as I don't really believe it's possible unless your happy with a very small yearly %, Entries not so hard to code, but at Profit Exits are the real pain to work out logic for, as you don't get to wait for a sign as such to exit.

I count on watching the price stall near a point or show strength before I get in, 5seconds live action, you just can't teach a computer to do that.

That and I've seen to date exactly ZERO systems which are long term profitable.

HFT excluded as there just front running.

 

[geneticien]

I'm a programmer coming up for 40years, messed with some MT4 EA's 10years back, I refuse to waste more time on that as I don't really believe it's possible unless your happy with a very small yearly %, Entries not so hard to code, but at Profit Exits are the real pain to work out logic for, as you don't get to wait for a sign as such to exit.

I count on watching the price stall near a point or show strength before I get in, 5seconds live action, you just can't teach a computer to do that.

That and I've seen to date exactly ZERO systems which are long term profitable.

HFT excluded as there just front running.

I understand your healthy skepticism. Still, unless you believe that 100% of members of this forum fool themselves and each other, strategies that beat S&P500 do exist. Perhaps, a promising approach is to avoid competition and stay in some market niche.

 

[Turveyd]

I understand your healthy skepticism. Still, unless you believe that 100% of members of this forum fool themselves and each other, strategies that beat S&P500 do exist. Perhaps, a promising approach is to avoid competition and stay in some market niche.

My trading manual.and crazy out performs that massively ( not today barely up ), so yes to can be beaten


Does your system generate your exits?.or fixed TP? I don't like fixed TP would solve that side but badly imho.

 

[geneticien]

My trading manual.and crazy out performs that massively ( not today barely up ), so yes to can be beaten


Does your system generate your exits?.or fixed TP? I don't like fixed TP would solve that side but badly imho.

100% automated. Try to have a %-based stop loss but time-base take-profit, i.e., sell after a given period of time. The latter depends on your strategy, can be minutes or days to hit the point where waiting for the position to grow does not make sense anymore - better to exit it and wait for a new opportunity.

 

[Turveyd]

100% automated. Try to have a %-based stop loss but time-base take-profit, i.e., sell after a given period of time. The latter depends on your strategy, can be minutes or days to hit the point where waiting for the position to grow does not make sense anymore - better to exit it and wait for a new opportunity.

I scalp or close to, no new high in 3mins is 1 of my exits, letting to many stall and reverse on me.

Swing?

 

[geneticien]

I scalp or close to, no new high in 3mins is 1 of my exits, letting to many stall and reverse on me.

Swing?

Hours to days. Sorry, can't be more specific about my work.

However, I wish you will automate your approach. It might save you a lot of time.

 

[SimpleMeLike]

Here is the condensed version: For the effective part; as for the profitable part that's up to each individual.

Why are you trading; be very specific.

What are you trading; be very specific

Where are you entering your trade and why?

What is your position size and why?

Where are your exits.

Come up with every possible scenario that might happen and determine what you will do if that happens. (price moves up or down, price gaps, price is halted, power goes off, internet goes down, lose contact with you broker, anything else you can think of.)

For every point you make in your plan be able to answer Why.

Thank you deaddog,

I am working on it. It is challenge indeed, but I see how it can help me.

 

[SimpleMeLike]

Hours to days. Sorry, can't be more specific about my work.

However, I wish you will automate your approach. It might save you a lot of time.

How does trader automate if they do not use indicators? Only purely price actions and patterns concepts.

 

[geneticien]

How does trader automate if they do not use indicators? Only purely price actions and patterns concepts.

Make it formal first, e.g., by following what deaddog suggested. Then, write a program to automate some part of it, then automate everything. Then, backtest it, analyze the results and restart the whole procedure until happy.

 

[Turveyd]

Hours to days. Sorry, can't be more specific about my work.

However, I wish you will automate your approach. It might save you a lot of time.

Not happening, can't teach a computer to think, few hours per day, much prefer to 8hours at a job, I've got plenty of time although everything else comes before trading.

Get a bit more consistent, run the account up to stupid number and retire hopefully to Spain near a nice beach