what was your aha moment when you first started trading?

Bad_Badness said:
Not needing to "deal" with them, work for you. That is great. But times are a changing.

Perhaps your view of Algos is incomplete. There are so many types of Algos it is hard to categorize them. It is so sophisticated that for decades now Algos battle Algos. OTOH, a retail trader can do Heuristic Algos with the simple scripting languages in MC, TS or NT.

There was a quote in a book cira 2019, from the head of Algo at GS. It was something to the effect: "Eventually, 'Algo Trading' will no longer be called that. It will simply be called 'Trading'".

IMO there are two sins for day trading.
  1. Thinking and Trading single ticket methods, like 1960.
  2. Using manual interfaces, because you can't write scripts, yet.
Best of luck.
More...
Hello Bad_Badness,

Thank you for sharing this. And I agree with you.

IMO, algo development is mandatory these days. It's just too much room for error and there are too man unknowns with manual and discretioary trading.
 
The aha that got me over the line to profitability was PROCESS

Repeating the same process over a series of trades will make me money. Rinse and Repeat.

With the right mindset you can trade any system. But with the wrong mindset the best system wont yield the results you are after.

Following my process ingrained patience, discipline etc But the basis for me was following a Process.
 
Bad_Badness said:
Not needing to "deal" with them, work for you. That is great. But times are a changing.

Perhaps your view of Algos is incomplete. There are so many types of Algos it is hard to categorize them. It is so sophisticated that for decades now Algos battle Algos. OTOH, a retail trader can do Heuristic Algos with the simple scripting languages in MC, TS or NT.

There was a quote in a book cira 2019, from the head of Algo at GS. It was something to the effect: "Eventually, 'Algo Trading' will no longer be called that. It will simply be called 'Trading'".

IMO there are two sins for day trading.
  1. Thinking and Trading single ticket methods, like 1960.
  2. Using manual interfaces, because you can't write scripts, yet.
Best of luck.
More...

Not a day trader, never was. I only do swing trading and trend following strategies. My nephew is a software developer but, I will not waste his precious time to design algorithms for me when I can trade without algorithms as I have no use for them.
 
Markram McKenzie said:
I remember the first time I blew my account. I thought I was incapable.
Every new trader blows trading accounts once. lol
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There are traders, and finance professionals, who blow multiple accounts, and/or make absolutely no progress....who have two, three, or four+ decades of experience.
But still, magically, can carve out a decent living doing this by selling services, products, ad revenue, subscriptions, and fees, and commissions. Talk about a rather corrupt, bogus, environment of wolves and sheep.
 
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