Automated trader

oildaytrader

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Hi

I am an automated trader and I use automated programs for trading currencies and commodiities .

Automated computer programs are programs written to trade currencies ,commodities and indexes

With automated programs I do not have to monitor markets ,the 4 gig ram and 2.4 quad computer whose brain is 1000 times more powerful than the human brain , does all the trading for me.It buys ,it sells ,it closes and it uses auto stops and complicated stops which the human brain can not cope with.

Humans make errors but computer programs do exactly what you tell them.

A computer program can monitor and trade 12 currency pairs several commodities , several indexes all in one go whereas the human brain and emotions can barely cope with one instrument

I am a very happy automated trader and I trade oil,commodities and currencies.Automation make me a succesful trader

Oil day trader
 

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Your above post is worded in such as way that I feel I need to ask:
Are you, in fact, actually a computer ?

If so it is the first case of AI that I am aware of posting on T2W


Paul

you completely missed me. i am an automated moderator :LOL:
 
Humans make errors but computer programs do exactly what you tell them.
Computer programs are written by humans; who do make errors. Ergo...

An interesting post oildaytrader and one which I imagine leaves the cynical ones wondering if there's a pitch to follow.

So, what is your point? If you're advocating total automation, who makes the rules and who programs them and maintains them? Self? Others? You still need a manual proving process to carry out the research, construction and test executions before codifying and systemising what you’ve honed through your own personal and very human, time and effort – and brainpower (which, unless you are ‘special’, is always going to be a lot smarter than the smartest computer) . That’s the tough bit. Not the programming and sitting back watching the dollars roll in.

For institutions sure, but for the majority of folk on here, it’s not likely going to be an option.
 
Your above post is worded in such as way that I feel I need to ask:
Are you, in fact, actually a computer ?
If so it is the first case of AI that I am aware of posting on T2W
Paul
:cheesy:
Indeed Paul, that's one possibility. There are two others that immediately spring to mind - well, my mind, anyway. The first is cynical: O.D.T. is a spam merchant (note the web address). The second - more charitable possibility is that s/he wants to stimulate fresh debate on the ol' chestnut that every serious trader examines to some degree sooner or later: mechanical trading Vs discretionary trading.

IF we give O.D.T. the benefit of the doubt and assume the latter (and that s/he isn't in fact a computer), then game on; this could be an interesting thread. My own view on this is that most traders tend to be very polarised regarding this issue which, as in most aspects of the human condition, is rarely useful, productive or healthy. I have strong leanings towards the discretionary 'price and volume naked trading' camp, but I am always looking over my shoulder at the tech boys and girls to see if they offer anything which will help sharpen my edge.

So, O.D.T. - are you a computer?
;)
Tim.
 
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I am happy for you, truly....

...would you like to be my friend?

Just looked at your website Mr. El Cid of Middlesex.

Sadly most of the tabs aren't active but I presume being your friend may involve a subscription.

Please put me out of my misery now and tell me how much? (otherwise I shalln't sleep tonight)

PS I liked the pic of the oil rig - is the chart on the left related?
 
Computer programs are written by humans; who do
So, what is your point? If you're advocating total automation, who makes the rules and who programs them and maintains them? for the majority of folk on here, it’s not likely going to be an option.

The human being should stick to betting or horses , one horse to bet on and follow .Greyhounds more exciting ,simple only one thing to follow ,a four legged animal.The human being needs excitement ,loves fear ,greed,panic order selling

The computer does not sell stops on fear and does not issue panic stop sell orders

That is all tonight

Oildaytrader
 
Just looked at your website Mr. El Cid of Middlesex.

Sadly most of the tabs aren't active but I presume being your friend may involve a subscription.

Please put me out of my misery now and tell me how much? (otherwise I shalln't sleep tonight)

PS I liked the pic of the oil rig - is the chart on the left related?

Some automated programs are free .Site not active .

Oildaytrader
 
The human being should stick to betting or horses , one horse to bet on and follow .Greyhounds more exciting ,simple only one thing to follow ,a four legged animal.The human being needs excitement ,loves fear ,greed,panic order selling

The computer does not sell stops on fear and does not issue panic stop sell orders

That is all tonight

Oildaytrader

Yeah but, no but, computers don't have emotions, but if they don't get a constant feed of data and electricity, then things can get a bit emotional for us humanoids, n'est pas?
 
Yeah but, no but, computers don't have emotions, but if they don't get a constant feed of data and electricity, then things can get a bit emotional for us humanoids, n'est pas?

Use remote back up servers

Oildaytrader
 
Today's automated executions

You are a very brave man.

I cant even begin to comprehend how anyone could trust funds with a meta trader broker, or execute an automated solution from that software platform

its a toy, great for getting a free feed, great for playing with idea's, but in no way stable enough to risk anything other than pocket money
 
You are a very brave man.

I cant even begin to comprehend how anyone could trust funds with a meta trader broker, or execute an automated solution from that software platform

its a toy, great for getting a free feed, great for playing with idea's, but in no way stable enough to risk anything other than pocket money


It is safer the than the human being who makes mistakes all day, has stop losses hits and freaks out on putting the winning trade of the day.

The U K metatrader brokers are O K

Regards

Oildaytrader
 
You are a very brave man.

I cant even begin to comprehend how anyone could trust funds with a meta trader broker, or execute an automated solution from that software platform
I wouldn't worry too much on that score - it looks like a demo account.
 
I wouldn't worry too much on that score - it looks like a demo account.


Yes that is demo account .

Just in the process of debugging software and implementing it.

All the software is functioning fine at present ,planned live date with real money is 1 st December with a U K based broker

The known myth is 95 % of traders lose money.Google 95% myth for answers and confirmation.

95% trade part time because they can not make trading pay and have another source of income like me.Trading by 95% is like driving a car and looking elsewhere and 95% normally have accidents and account blow outs.

Profitable automated programs is the only way to start in the 5 % club otherwise the myth will remain 95 % lose money.A computerised program can give your odds of succes before you start trading.

Manual traders have no way of knowing their odds over a period of time , because the task of finding the information is very big.The manual trader has no clue of his potential success over many years

Regards

oildaytrader
 
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Why do 95% of traders basically wipe out their accounts in the first year? What does it take to be a master trader, to profit on a consistent basis and not burn out in the process?

From 1897 to 1900, 200,000 people started to the Klondike and only 30,000 reached it (1 in 6). Not more than 400 found any gold (1 in 500) and of those only a few managed to keep it (possibly 1 in 5000). It is said that if all the gold that was found (some 4 millions dollars) was divided among everyone that first started the search, each would receive $20.00!

This is not about gold, but the analogies to trading are all too real and familiar.



I am blessed to be surrounded by traders at every level of skill, from Unconsciously Incompetent to Unconsciously Competent.

A couple of days ago, I asked a 25-year veteran of options trading, a guy who has not had one single losing year the past twenty-five years (let's call him Danny) if he had a trading plan. He did not hesitate to reply: No I don't. I am unconscious.

What he means is that after 25 years of options trading he is Unconsciously Competent. Unconscious Competence is the penultimate stage of in the five levels of trading competence. Even with all this experience and reaching a high level of trading mastery, Danny continues to perform, day after day with remarkable success, always pushing himself to higher and higher levels of mastery. It is not enough to be a multimillionaire. It is not about the money. It is about the continual challenge of dealing with everything that comes to him a way that is as natural as breathing. If stock gets "put" to him or called away, he knows immediately what to do and he does it without thinking. He does not panic or have an attack of high blood pressure or emotional outburst. He just does what he has to do. Because of the rapidity with which he trades, he cannot express well or teach another person exactly what he is doing, and if you review the article on Competence: So You Think You Can Trade, you will see why Danny, with all of his experience and profitability, has not reached the ultimate level of trading mastery
Lately, however, I notice that something is going on with Danny. He seems to have reached a point where he needs more and more challenge. I suspect that this has happened before, but I have not known him long enough to make that judgment. Danny's brain is begging for novelty and new tasks. It has done that before because the only way that anyone can go for 25 years without one losing year is to lay down new brain pathways, i.e. to develop novel ways in the brain can see charts and make decisions. The nature of the markets is to run in ever changing cycles, and the brain must be entrained for these changes in order for a trader or investor to continue to be profitable year after year. There is, in fact, evidence that the more one becomes attached to a particular strategy, the more limited one is by that strategy.

Why are some funds or managers "hot" for a few years and then fall behind? Why do traders do well for a while, and then have a succession of losing months or years? All other things being equal, i.e., it is because their strategy is no longer working due to the fact that the character of the markets has changed. In order to keep with the ever-changing cycles, new brain pathways must be laid down which enable continuous counterintuitive thought and action in order to generate consistent profits. Be it a change in position sizing, less leverage, decreased frequency of trading or any number of stabilizing and equilibrating factors, the trader must become aware that something is different. Once this awareness takes hold, then it's back to the charting board or the drawing board to retrain the trading brain to accommodate to this particular change in the personality of the markets. Traders and investors are well served to ask themselves: What is my brain doing to cause me to make these hideous choices and lose money? How are my thoughts, beliefs and preconceived ideas about what is going on ruining my trading? What can I do to make sure that I am not neuronally undermined? In other words, how can I train and retrain my brain for consistent profits?

What about you? How are you doing?

If you are like most people who write to me, you are still struggling to find your place in the markets. You are on the learning curve and are paying your dues.

How long does it take? This is the question most frequently asked. The answer is: in my experience, it takes 10 years and 10-20,000 hours of practice before the average person gains enough expertise to succeed consistently in the trading shark tank. The casino is getting more treacherous these days because the sharks are becoming more and more cunning. Complex algorithms, neural nets and many types of computer assisted trading are in vogue. Yes, you say, but human beings program all these computers so there is always going to be human error. Yes and No. Why No? There are new hedge funds cropping up which put millions of market algorithms into computers and "allow the computer to sort out which work and which don't!" Please don't ask me how this is done, since I do not know. I only know that the waters are becoming more and more murky for the "little guy or gal" (I am one of them!) and the sharks are getting hungrier.

Deception in the markets is rampant and anyone who tells you that you deal with market conditions the way you deal with real life success is not being honest. Yes- there is a real correlation between the way you conduct your life and the way you trade, but this has to do with state of mind. Peace of mind and the learned ability to respond, rather than react when you see something, which is unfamiliar or threatening
(like a huge market move against your position).

Success in "real life" has little if anything to do with success in the markets. This is why so many highly educated and highly trained individuals fail as traders. Trading is a profession unlike any other since losing is winning. Think about that for a minute. Losing is winning.

How can I say something like that? What does that mean? How successful would you be as an attorney if you came home a couple of nights a week and announced to your wife that you lost another case today, and that you had lost three of your five cases this month? What about a medical doctor? How successful would you be if you had to deal with losing three patients in five surgeries? You see, real life standards by which success is measured are not applicable in the markets. Do you understand that? Do you see why so many people with enormous success and great careers simply fail miserably as traders?

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride. Once we realize that imperfect understanding is the human condition, there is no shame in being wrong, only in failing to correct our mistakes... George Soros

The most successful traders know how to take small losses and manage risk. It is impossible to trade without taking losses. Impossible. You are a success when you learn to manage risk through position sizing and limiting losses. In life, we do exactly the opposite. It is somehow virtuous or noble to hold onto losing people, places and things. We get "stuck" in the commonplace and everyday such that we don't want to "hurt" other people or we don't want to make a change, since change is perceived by the ego as death. Things are just fine the way they are.

Do you know what it means when you say you are F I N E? Well, the first word cannot be written, but it rhymes with Mucked Up. The I = Insecure; the N = neurotic; and the E = Emotionally Unstable. Now, how many of you are F I N E? How is your life working for you when you keep doing the same thing over and over again with the same people over and over again and expecting different results?

Do that in the markets, and the sharks will devour you. They are waiting for you. Markets are not nice. They are mean and cruel and that is the way it is. You are trading your beliefs against the beliefs of millions of people all over the world. How many degrees of strategic thinking do you need to use in order to determine what the other person is going to do? Call in John Nash to tell you about iterated dominance and every other aspect of game theory because that is what you are dealing with in the realm of strategic thinking.

Think about how powerful and dangerous a game you are choosing to play, especially because you don't know who is taking your money and you don't know where the money you are getting is coming from. Is there any situation in your "extra-market" life that compares with this? If so, please drop me a line and let me know.

This is war and you chose to enter it. So, if you do, come prepared for the battle of your life. This is the biggest battlefield on the planet. Welcome to the great game of trading!

Any player unaware of the fool in the market probably is the fool in the market... Warren Buffett


You have to live the life you're given
And never close your eyes!
You hold on and stare into the skies
And burn against the cold
For any moment you might find the gold!..
 
OilDayTrader, have you been on these boards before under a different name? Anything to do primarily with FX? Just wondered...

How long have you been trading?

You've avoided my comment that automated trading is only as good as the rules programmed into it. You have to have had that experience manually for it to have any chance of it working in an automated manner.

The trader (human) needs to be fully aware of all the things you claim an automated system can do better than a human. Knowing the odds, finding the information, identifying and managing positions – all need a solid base in personal experience before you can go any way to systemising them. And the task of codification is arduous. I’d recommend the process to anyone by the way, purely as a method of driving out the detail even if you never intend to automate your systems and methods.

But to actually invest time and money and effort into automation is inappropriate given the changing nature of the markets. And before you suggest you could convince anyone it’s possible to automate that, it’s so unlikely and the overhead involved so enormous even to lay the basic structure (I know, I tried) that it would not payback in development terms unless you were automating for an institution for the long haul. Not that it would work, but they’re generally stupid enough and rich enough to imagine they can go down that route and pay you and your team to play around without results for a reasonably lengthy amount of time.

One final point (for this post anyway) is that you mention information. Your automated system cannot process raw information of a fundamental nature. For it to assess all global variables and nuances would require a knowledge base and neural network capability equivalent to the human brain, and that is so far from any current level of achievability as to be not worth preparing for.

The only other thing the ‘possibility’ of an automated system is good for is for generating sales to people who believe they can buy automated systems to trade them into profit. Good luck with that, but you’ll get a rough ride here if that’s your plan – there are enough real traders to shoot that one down pretty quickly.
 
Just in the process of debugging software and implementing it.
[...
...]
All the software is functioning fine at present ,planned live date with real money is 1 st December with a U K based broker
Don't understand. If it's working fine, what are you debugging?

If it's working fine, why aren't you trading a live account and your own funds?

Manual traders have no way of knowing their odds over a period of time ,
Compete rubbish.

If you don't know what your odds are now, neither does your system.

From what you say, I don't think you have ever traded.
 
Don't understand. If it's working fine, what are you debugging?

If it's working fine, why aren't you trading a live account and your own funds?

Compete rubbish.

If you don't know what your odds are now, neither does your system.

From what you say, I don't think you have ever traded.

That is your personal opinion and this board is about making opinions .

Name it I have traded it .

Get approval from moderator and I will post statements from C ME futures accounts ,fx accounts ,spreadbetting accounts,cfds and shares on oil,currencies ,indexes(dax,dow,ftse,s and p) shares ,options .

I have written options and traded options too

The statements will contain names of account holders ,brokers and actual trades .Until you can get approval we have to accept where the rubbish is coming and where personal opinions are coming from ,and keep your thinking to your level ..........not mine

Regards

oildaytrader
 
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