oildaytrader
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stop pretending you are actually a trader ODT
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Why don't you post that on the threads where there are people actually pretending to be prop traders?
stop pretending you are actually a trader ODT
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the problem is that there are too many variants and individual cases. Machine just can't take them all into consideration... Wave count hasn't been programmed properly at the moment and there are objective reasons for that.
Knowing what i know about trading really well. I really cannot see how one could develop a system that does it all for you automatically.
Once you get to the major leagues as a discretionary player, the elite level of trading, the fun is in the fill, & your ability to enter & exit at the right prices for near maximum profits. So why would you want to stop this in order to be some jelly belly flump who sits on the couch watching while their computer do the work.
The art of trading is knowing where to exit & when to enter.
My experience to date suggests automated works well on currencies, due to the nature of the 24 continuous market without disruption and manipulation.The indices are in a highly manipulated market with disruptions of intraday closes/wall street opening hours , and restrictions on falls in the indices.
What types of automated strategies would work with indices?
My profitability comes from automation and automated systems.
http://www.trade2win.com/boards/gen...fitable-automated-trading-12.html#post1084340
Automated trading has loads of advantages whereas discretionary trading has loads of disadvantages.
Advantages
1)No need to monitor markets and watch screen, trades are placed automatically
2)No greed , fear and discipline problems, software doesn't suffer from these problems
3)No money management or positive expectancy shortcomings, MM and PE are precoded in system.
4)No need to look for trade parameters i.e entries, exits ,stops,and trade management i.e tsl , b/e etc is done automatically by software.
5)Can manage multiple strategies,set ups and instruments simultaneously.Sometimes as many as 20 set ups are traded simultaneously , using different systems.
6)Computer does not need to go for no 1 or 2 or breakfast lunch and dinner, and often missing great trading decisions
7)Computer is not distracted by wife, children, phone calls,postman ,neighbours etc
8)operates 24 hours a day without a trade time nap
9)Doesn't require alcoholic beverages during trade time
10) Strategies can be backtested and forward tested without committing real money, only if strategies are profitable is real money employed.
11)highly complex method can be precoded.
Disadvantages
1)Discretionary traders can see a better view of set ups whereas automated trading is limited view based on rules coded .This applies to exits,entries and trade management.
http://www.trade2win.com/boards/gen...ing-easy-making-money-hard-5.html#post1086248
There is a different style to being perfect in entries and exits, its called getting the high probability slices of trends ,where the trader does not go for entire trends .
High probability trend trading is actually a better method of trading, than being greedy for full trends and getting caught in a trend reversal.The beginning of trends are often very choppy, where greedy trend jelly pumps get eaten up.
There are some mentors teaching high probability trend trading i.e Mr Charts.
ODT
You know no one can get the full trend, you can foresee it, or you can simply get it with a good trend chasing method, those guys teaching riskier ways to follow a trend really dont know what they do, so good point for you.:smart:
Great tips from a professional stocks guru
you ever taken a live trade before odt? i reckon your about 15
@ $1 per pip
Keep trading pocket money
Retard.
im actually laughing so hard at my desk. why is your credit and deposit 0? is that a demo account?
Retard.
as for pocket money dumb weekend trades, like the 140point gap up in euro while i was long? real dumb eh?