Two Questions For Practicing Day Traders

Hello ironchef,

You are good person I notice from your post and you trying your best.

Please believe me when I say this sir: Never in your LIFE trust a back test posted on ET forum from ANY member. One more time with great emphasis, any back test you see on ET is a lie and curve fitted and fake.

Any back test you see on ET forum is a flat out LIE. The person posting the back test to you is lying to you for whatever reason or bragging.

I program algos and I back test them alot. Trust me why I say this, I can scam many traders out of their hard earn working money and their savings account with a fake back test. I can show you a back test that will make your dick rock hard. But I will not do that, cause I am not a liar and/or scammer.

FYI. I would not tell anyone else on the forum what I just posted, but I know you a good guy who is seriously looking for help. So be careful who you talking to.

You better take my advice on this sir.

I would never in my life post an back test of an algo I am trading with my real hard earn money. Finding Edge in this market with an algo is seriously hard work, noone will ever ever ever ever ever in a million years share it with you. EVER. NEVER EVER. Stop seeking and stop asking for help. You are not going to get it on ET.

Click buy or sell button with your eyes and good guess, or learn to program and back test yourself. That is your only 2 options of making money day trading. noone is going to help you or give you any answers.

True that.

I saw a back test back in forexfactory one time where this guy made over a billion dollars trading the gbpusd and eurusd.

@ironchef just because someone been around long doesn't mean anything. There was one guy on forexfactory who's been on there for years. He managed to trick few people into letting him manage their money. He was a big timer back in 2005-2006 when eurusd was basically trending.

Turns out he was a scam. Ran away with their money and vanished. Look up "jacko".

You see some crazy things when you been on these forums for a while. It feels like an online mental institution sometimes.
 
That is sage advice.
i did for a decade.

when your instinct is right you make lot of money but when it is wrong you have no idea why you are wrong.

if you do not know why you enter, then you have no idea where your premise is wrong and so you have no clue where to put a valid stop.

all the good traders watch the market and have solid reasons to enter the trade and understand market behaviors
 
Let me offer several observations in defense of @VSTscalper:

1. He has been an ET user since 2006, not a fly by nighter or a one timer.

2. He is not selling anything, simply showing us his Sim algo with outstanding results and kind enough to invite us to observe how the algo works in real time. I am going to assume he is sincere & genuine until proven otherwise. No different than I assume all other posters here, including you are sincere and genuine until proven otherwise. It is called Trust but Verify.

3. Why is he offering to us to observe his trades? Many reasons not related to money: I post to seek help, look for fresh ideas, others to show off, others to pass time while trading, others to troll.... to each his own.

4. We all know that back test results are always better than Sim, Sim better than small size live, small size live better than full size live and finally full size life better than super full size live.... No surprise if live trade of @VSTscalper's algo is not as good.

5. Let's give credit where credit is due: A great Sim result is a great starting point.

6. After I am done with my trend following trial, I am going to find time to take a look at the concept, not just his algo, and see if and why it should work, perhaps create my own algo to improve on the concept?

A few more comments:

1. Often it is not the poster that counts, it is the ideas of the post that count.

2. I sometimes made fun of @padutrader, @murray t turtle and @SimpleMeLike not because I don't respect them but because I enjoyed reading their posts, giving out ideas left and right. :D

3. Why I enjoyed reading them? They made me think really hard and some ideas actually worked. :finger: Whether they are good traders or bad traders are immaterial to me.

Peace and best wishes to all.

thanks ironchef... you make a lot of great points for using this forum as a discussion place looking for new ideas. developing systems and trading alone, sometimes we get stuck in our own minds and discussions with others who are new to trading or long term traders tend to give us ideas on what to try next to better our trading journey. i have found quite often that comments from other traders trigger new ideas for me to try in my own trading and have nothing to do with what the other trader is doing. thats why i prefer trading discussions rather than asking for results or profits or trade analysis.

thanks
toucan
 
True that.

I saw a back test back in forexfactory one time where this guy made over a billion dollars trading the gbpusd and eurusd.

@ironchef just because someone been around long doesn't mean anything. There was one guy on forexfactory who's been on there for years. He managed to trick few people into letting him manage their money. He was a big timer back in 2005-2006 when eurusd was basically trending.

Turns out he was a scam. Ran away with their money and vanished. Look up "jacko".

You see some crazy things when you been on these forums for a while. It feels like an online mental institution sometimes.
Good Morning hilmy83,

Correct. The forex industry is filled with scammers and everyone is trying to sell traders algos.

The Seller Million dollar equation is this

1000 customers

$1000 cost

Seller Million Dollars = 1000 X $1000 = $1,000,000

There is a Trader Seller of algos who scams NT8 traders by telling them the back test engine of NT8 is bad and not accurate. So he told his coder to block access so the algo can not be backtested. Customers can not even back test it
They have to run in Sim or live money with no proof of anything.

He sold that algo for about $2000 to about 400 customers. And he still sells it.

He is up $800k and counting.

This trading business is a cruel business to people that is not very smart.
 
First - I want to tell you something that happened to me - before I had Clients.

As I mentioned - I actually had a Booth at the Traders Expo - in San Diego years ago - and even way farther back - I had a Booth - at the Traders Expo - in Chicago. As I said - I traded live - as Traders walked by my booth - with Real Money. Anyway - if you remember MF Global - I knew some Brokers that worked there. They wanted me to come to Chicago to talk about what I was doing. They paid my way - put me up in a Hotel - a block or so from the CME. I thought I would be talking with them only - but they surprised me - took me to a conference room - with a large table - and a bunch of people sitting there - and it scared the hell out of me - what the hell did I get myself into - LOL. However - there were Pit Traders there - CTA's - CPO's. I made it thru that - then the brokers took me to see the Pits - which was very exciting. Then - they asked if I would like to go down to the Pits. We went to the Pits - they had arranged for a Trader to meet me. What you do NOT see on TV - was the Rows of Traders - also sitting Above the Pits - I was surprised. Well - this trader took me to his station above the Pits - he had 2 computers. His partner was down in the Pits.

So - that is how I got some big Clients. While I still do trade - I don't get to everyday - as my Paying Clients - have to come First.

I have been thinking about doing the Las Vegas Traders Expo - in February 2024 - just for fun. Looks kind of pricey this time. When I did the San Diego Traders Expo - I had help - and as I said previously - it lasts a few days. The owner of Ninjatrader can verify I did the San Diego Traders Expo. And Eliot - from the old Mirus Futures was there also. At the Hotel I was staying at - I rented a Conference Room - for a multiday Paid Seminar - where Ray (Ninjatrader) - set up Multiple Real Money Trading accounts for me - so the traders at the Seminar - could trade Real Money - MY money - on the last day - a Monday. I wanted the traders to experience what I was talking about. Some were actually very nervous - LOL.

Again - I talked too much - you all sleeping yet - LOL. Basically - I am using you guys - that way I can tell my lady I am busy. Quite often - I will put on my Headset - so if she opens my office door - she thinks I am talking with someone.

Edit: I believe I mentioned this in my old thread. I live between the MAIN for the WORLD - Microsoft campus - and a Google campus. I use to do a lot of Trading Meetups - some mine - some that others put on. And believe it or not - quite often - there would be Programmers from those 2 companies - wanting to Day Trade. That kind of blew me away. They make a huge income - and they want to Day Trade. Anyway - I would pick there Programming Brains. This was before Covid. We talked quite a bit about AI - and that is why I call many of my Algos - my DirtyAI. Most of these guys were young - but they know programming.
Do you know what Eliot is doing these days? That was a nasty blowup with Mirus trying to clone Zenfire. I went with Mirus in 2006 and already had Ninja. Eliot cut me a good deal.
 
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For you folks that are still "trying" to find "your" way in trading,
here is a current, worthwhile post, imo... You will have to determine the credibility of the poster yourself. And for your sake, take note where YOU go with that.
https://www.elitetrader.com/et/thre...cl-futures-using-pa-for-the-first-time.376893

note the change of mindset. An a-ha moment!! And note how it evolved, quickly, into refinements and adjustments.

Meanwhile y'all are stuck in negativity, and not only are you failing at finding your way,
you are not even evaluating the possibility of finding possibilities that MIGHT lead to your own a-ha! moments.
How many use cases have you overlooked, only because you want to see the source code?

Change of mindset fellas.

Good luck.
 
True that.

I saw a back test back in forexfactory one time where this guy made over a billion dollars trading the gbpusd and eurusd.

@ironchef just because someone been around long doesn't mean anything. There was one guy on forexfactory who's been on there for years. He managed to trick few people into letting him manage their money. He was a big timer back in 2005-2006 when eurusd was basically trending.

Turns out he was a scam. Ran away with their money and vanished. Look up "jacko".

You see some crazy things when you been on these forums for a while. It feels like an online mental institution sometimes.
Thank you for the coaching.

@SimpleMeLike is a good man, sometimes posted crazy posts, for entertainment. From this post I know he is not a bad trader, unlike what some others said. I followed your journal, you are good. One of these days I will automate my trades.

There is a typical, natural progression of backtest to sim to live. Always a one way street going from good to not so good to bad.

The day trading system I developed over the course of the past year is a profitable system. Why am I posting my trial? I want to give those new day traders starting out a taste of what it is like to develop a profitable system. A lot of hard work, no easy money. My way of paying forward.

This is a good community with a lot of good folks helping one another. I treasured your inputs.
 
thanks ironchef... you make a lot of great points for using this forum as a discussion place looking for new ideas. developing systems and trading alone, sometimes we get stuck in our own minds and discussions with others who are new to trading or long term traders tend to give us ideas on what to try next to better our trading journey. i have found quite often that comments from other traders trigger new ideas for me to try in my own trading and have nothing to do with what the other trader is doing. thats why i prefer trading discussions rather than asking for results or profits or trade analysis.

thanks
toucan
We think alike.
 
For you folks that are still "trying" to find "your" way in trading,
here is a current, worthwhile post, imo... You will have to determine the credibility of the poster yourself. And for your sake, take note where YOU go with that.
https://www.elitetrader.com/et/thre...cl-futures-using-pa-for-the-first-time.376893

note the change of mindset. An a-ha moment!! And note how it evolved, quickly, into refinements and adjustments.

Meanwhile y'all are stuck in negativity, and not only are you failing at finding your way,
you are not even evaluating the possibility of finding possibilities that MIGHT lead to your own a-ha! moments.
How many use cases have you overlooked, only because you want to see the source code?

Change of mindset fellas.

Good luck.
I don't quite understand what you are trying to tell us?

What mindset should I change? I always tested every ideas presented, no matter how crazy it appeared. As I said, Trust but Verify.
 
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