new_trader
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I have been studying the markets as a long term investor for over 10 years but only decided to start daytrading about 12 months ago. Since then, I have spent US$1000 on historical data and hundreds of hours analysing and backtesting it with a bespoke program that I wrote myself using Visual Basic 6. That alone took 100's of hours of writing and debugging.
So far I have lost almost US$3000 trading my system and have resorted to paper trading it. I have NOT lost faith in my system, I just think I need more confidence before continuing. I took the advice given in another thread and decided to back test it further by purchasing more historical data. This restored both my enthusiasm and confidence, as it has now been tested with around 20 years of historical data and the greatest majority of that is out of sample to my first back test. The first time I tested 2002-2005, I have now tested 1985-2006 (end of March) and it is robust. But I have never had the guidance of a mentor (apart from the support/advice here) and I have never had experience on a trading floor. I can’t help thinking that there is something elusive to the markets and I haven’t paid my dues yet.
So far I have lost almost US$3000 trading my system and have resorted to paper trading it. I have NOT lost faith in my system, I just think I need more confidence before continuing. I took the advice given in another thread and decided to back test it further by purchasing more historical data. This restored both my enthusiasm and confidence, as it has now been tested with around 20 years of historical data and the greatest majority of that is out of sample to my first back test. The first time I tested 2002-2005, I have now tested 1985-2006 (end of March) and it is robust. But I have never had the guidance of a mentor (apart from the support/advice here) and I have never had experience on a trading floor. I can’t help thinking that there is something elusive to the markets and I haven’t paid my dues yet.