New book on how traders are beating the HFT guys

[xelite777]

Making a living or making a life from trading comes down to backtesting. If you don't learn how to program first before losing tons of dough, it is like forever before you learn how to make money. If you want to compete with the big boys, you have to learn to code and backtest, if you can't learn to do it, go to a college and hire kids to test for you. Better to spend a few thousands then to lose thousands.

Superb!!!

 

[drownpruf]

Actually, those of us who are still trading that came up before home computers have used Price Patterns as it was rather hard to do much more than EMA's. Peter Brandt of Minnesota is the only true Price Pattern trader I have known had done well and stuck with this the whole time. I think he written a couple books and had/has service for many years, I have two books he has written I have gained more knowledge plus he still has a service called the Factor which I subscribed for several years, it about the only one I have known to make money overall, but it is grow rich slowly type.
http://peterlbrandt.com/factor-trading-plan/



Making a living or making a life from trading comes down to backtesting. If you don't learn how to program first before losing tons of dough, it is like forever before you learn how to make money. If you want to compete with the big boys, you have to learn to code and backtest, if you can't learn to do it, go to a college and hire kids to test for you. Better to spend a few thousand then to lose thousands.

I had an idea two years ago to compete with HFT, built backtesting code for this idea, forward tested it, and papertraded it six months. Been trading it over a year, and it is as close to Holy Grail system I could ever come up. I run it over fourteen markets 24 hours a day when markets are open. Entries and targets only on limit orders.

In 36 years I been trading, the Pro's always shows their hands.
I plan on buying new book, seldom anything new written.

You are so incredibly full of shit.

 

[Dustin]

Re: backtesting

There are many profitable discretionary traders like myself that just trade volatility. Find whatever is moving, and trade it. There's nothing to backtest. I don't care if the stock is trading at 10c or $1000, or if it's down 50% or up 50%...I'll try to trade it, and more often than not make some $.

 

[brad10]

Exactly! And that was the message from many traders in the book.

Re: backtesting

There are many profitable discretionary traders like myself that just trade volatility. Find whatever is moving, and trade it. There's nothing to backtest. I don't care if the stock is trading at 10c or $1000, or if it's down 50% or up 50%...I'll try to trade it, and more often than not make some $.

 

[Grandluxe]

Actually, those of us who are still trading that came up before home computers have used Price Patterns as it was rather hard to do much more than EMA's. Peter Brandt of Minnesota is the only true Price Pattern trader I have known had done well and stuck with this the whole time. I think he written a couple books and had/has service for many years, I have two books he has written I have gained more knowledge plus he still has a service called the Factor which I subscribed for several years, it about the only one I have known to make money overall, but it is grow rich slowly type.
http://peterlbrandt.com/factor-trading-plan/



Making a living or making a life from trading comes down to backtesting. If you don't learn how to program first before losing tons of dough, it is like forever before you learn how to make money. If you want to compete with the big boys, you have to learn to code and backtest, if you can't learn to do it, go to a college and hire kids to test for you. Better to spend a few thousand then to lose thousands.

I had an idea two years ago to compete with HFT, built backtesting code for this idea, forward tested it, and papertraded it six months. Been trading it over a year, and it is as close to Holy Grail system I could ever come up. I run it over fourteen markets 24 hours a day when markets are open. Entries and targets only on limit orders.

In 36 years I been trading, the Pro's always shows their hands.
I plan on buying new book, seldom anything new written.

Why not write a book about your experiences in the markets?

 

[xelite777]

Re: backtesting

Find whatever is moving, and trade it. There's nothing to backtest. I don't care if the stock is trading at 10c or $1000, or if it's down 50% or up 50%...I'll try to trade it, and more often than not make some $.

Well, you heard the man, just transfer a hundred grand from your savings account to your trading account and start trading ANYTHING that moves. If Intel or Google or Horse Shit futures are moving just buy. Do NOT think, just BUY, BUY, BUY, whatever is moving.

And of course do NOT (I repeat, do NOT) backtest anything under any circumstances, risk your hard-earned money on un-tested, un-proven systems right away, that's the only way to beat the market! Remember that only total losers backtest their system first. I am dead serious, if anyone tells that you need to test your system first, don't listen to him, he is a total moron and/or probably just escaped from a psychiatric hospital.

Well, there you go, the secret of successful trading right here!

PS: What, you are still here? Start trading anything that moves I tell you. NOW!

 

[Grandluxe]

Re: backtesting

There are many profitable discretionary traders like myself that just trade volatility. Find whatever is moving, and trade it. There's nothing to backtest. I don't care if the stock is trading at 10c or $1000, or if it's down 50% or up 50%...I'll try to trade it, and more often than not make some $.

That's what we used to do back in the days. Trade where the action is, find buyer and seller, bid/offer up/down hundreds of times, add to position,etc. But you are one of the rares ones that have made it thus far.

Most people at my firm who traded like that left in 2009-2012. They are just not making money anymore. Those were the halycon days of daytrading and very few have survived that trading style in these times.

 

[Dustin]

Well, you heard the man, just transfer a hundred grand from your savings account to your trading account and start trading ANYTHING that moves. If Intel or Google or Horse Shit futures are moving just buy. Do NOT think, just BUY, BUY, BUY, whatever is moving.

And of course do NOT (I repeat, do NOT) backtest anything under any circumstances, risk your hard-earned money on un-tested, un-proven systems right away, that's the only way to beat the market! Remember that only total losers backtest their system first. I am dead serious, if anyone tells that you need to test your system first, don't listen to him, he is a total moron and/or probably just escaped from a psychiatric hospital.

Well, there you go, the secret of successful trading right here!

PS: What, you are still here? Start trading anything that moves I tell you. NOW!

A good trader can make money in nearly any volatile instrument. Stocks are just the easiest. Backtest to your hearts content...it won't make you a good trader.

 

[Dustin]

That's what we used to do back in the days. Trade where the action is, find buyer and seller, bid/offer up/down hundreds of times, add to position,etc. But you are one of the rares ones that have made it thus far.

Most people at my firm who traded like that left in 2009-2012. They are just not making money anymore. Those were the halycon days of daytrading and very few have survived that trading style in these times.

The conditions for this style of trading have been slowly improving since last year. The past couple months have been even better than average.

 

[xelite777]

Backtest to your hearts content...it won't make you a good trader.

True, but trading a "system" without even knowing its average profit (loss?) per trade, its maximum drawdown and its return on investment (if any) is beyond stupidity.

Would you buy a used car without even test-driving it?