Hi Jonathan,
There are many ways to make money in trading. I am only going to talk about an approach you may want to consider.
You, having a background in engineering and science have a big advantage over those that don't understand math.
· Read some of the books by Howard Bandy. Dr. Bandy takes an engineering approach to system design.
· Get a subscription to Stocks and Commodities mag
· Join trading meetups and other trading groups in your area. Often you can work with others on various trading approaches.
· There are some "Hall of Fame" threads on Elite Trader somewhere.
· No one is going to give you a good) ready to run system but in your reading your will find good ideas and starting point for systems, data manipulation techniques, etc,
· Get a broker
o I use Interactive Brokers.
§ Good commissions
§ Programming API
§ Good paper trading account. I find the paper trading account to be very close to real trading. I don't know but it seems like they simulate your place in the order book
§ Con: No hand holding but there are news groups to get help
· Get one or more trading platforms. I have:
o AmiBroker
§ Low cost
§ Lots of systems and indicators for free
§ Systems in Stocks and Commodities
§ Can use Interactive Brokers data feed. I use DTN IQFeed (Not Cheap)
o Ninja Trader
§ Free to use without auto trading
§ Free end of day data
§ Lots of systems and indicators for free.
§ Systems in Stocks and Commodities?
§ Can use Interactive Brokers data feed?
§ C#
o MultiCharts (.Net)
§ Expensive
§ Can use Interactive Brokers data feed?
§ C#
o I wrote my own auto-trading platform that does all my trading
o There are some open source platforms
· Learn to program if you can't already.
· Best languages IMO (not in any order). All of these languages are used on various trading platforms.
· C#
· C++
· Java
· Python + R + all the various libraries
Study, paper trade, and test ideas. Most import, IMO, is don't lose money. Don't start with real money until you have convinced yourself your system(s) make money. Understand money management. Trade in size that expected losses do not bother you (see Dr. Bandys books).
Learn how the market works. Start with a book about Wyckoff
There are many ways to make money in trading. I am only going to talk about an approach you may want to consider.
You, having a background in engineering and science have a big advantage over those that don't understand math.
· Read some of the books by Howard Bandy. Dr. Bandy takes an engineering approach to system design.
· Get a subscription to Stocks and Commodities mag
· Join trading meetups and other trading groups in your area. Often you can work with others on various trading approaches.
· There are some "Hall of Fame" threads on Elite Trader somewhere.
· No one is going to give you a good) ready to run system but in your reading your will find good ideas and starting point for systems, data manipulation techniques, etc,
· Get a broker
o I use Interactive Brokers.
§ Good commissions
§ Programming API
§ Good paper trading account. I find the paper trading account to be very close to real trading. I don't know but it seems like they simulate your place in the order book
§ Con: No hand holding but there are news groups to get help
· Get one or more trading platforms. I have:
o AmiBroker
§ Low cost
§ Lots of systems and indicators for free
§ Systems in Stocks and Commodities
§ Can use Interactive Brokers data feed. I use DTN IQFeed (Not Cheap)
o Ninja Trader
§ Free to use without auto trading
§ Free end of day data
§ Lots of systems and indicators for free.
§ Systems in Stocks and Commodities?
§ Can use Interactive Brokers data feed?
§ C#
o MultiCharts (.Net)
§ Expensive
§ Can use Interactive Brokers data feed?
§ C#
o I wrote my own auto-trading platform that does all my trading
o There are some open source platforms
· Learn to program if you can't already.
· Best languages IMO (not in any order). All of these languages are used on various trading platforms.
· C#
· C++
· Java
· Python + R + all the various libraries
Study, paper trade, and test ideas. Most import, IMO, is don't lose money. Don't start with real money until you have convinced yourself your system(s) make money. Understand money management. Trade in size that expected losses do not bother you (see Dr. Bandys books).
Learn how the market works. Start with a book about Wyckoff
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