Automated trading versus discretionary trading

N Rothschild said:
im an old fart, but im 14? **** me another outstanding "shoot ur self in the foot post" we have come to known and love from you.

the problem with these accusations is, many people on this forum know me in person. so your just making a tit of yourself. who are you though? who the **** knows you? no one. your a stupid **** who makes the WORST automated systems that return 90% over 7 years (on pre 2008 data ofcourse) see :http://www.trade2win.com/boards/gen...-learning-profitable-automated-trading-6.html

Every post you make proves what a reject of society you are, you cant help but contradict yourself often in the same sentence. you have 0 clue of economic as proved by all your posts bout governments and goldman sachs, you have posted 0 trading calls on this site, you have posted 0 proof you have ever TAKEN A LIVE TRADE.

You accused me of trading pocket money and in the same post said your trading $1 a pip..

you accused me of taking "dumb" weekend trades. then said you were holding over the weekend.

there is no end to your retardedness, the fact you have had bans a few times from this forum shows no one ****ing wants you here with your lame attempt to make systems that you can get for free anywhere on the web and no doubt do a better job than the ones you have made.

"he old fart claims to be a trader ,when he is a two bit mentor fighting for his pitch" this is comical, maybe i should get some people to post on this thread who have SEEN me trading in person and know how big my account is?

i posted screen shots of a crude trade i was in, then you claimed i said i never trade crude? this is just the typical moronic drivel that comes out your mouth as i have never once uttered such words.

As for pressing the buy button instead of the sell button, EVERY real trader has done this in there life. FACT. the fact you arnt aware of this is, well, you have never even used a trading platform before have you? (except the meta trader demo account).

"The old fart goes under the name of Rockerfeller to impress new traders". <- can you not actually read? where does it say Rockefeller?

you are, without doubt, a complete spastic.
Click to expand...

Come on, don't hold back now. Tell us how you really feel!

Peter
 
Other usual mistakes include


1)buying wrong currency pair or instrument
2)buying wrong lot sizes
3)putting on revenge trades , trades just for the sake of revenge, against the market after losses.
4)Betting larger sizes above safe money management criteria , to recover losses
5)All manual errors lead to losses , chooses the same old path of becoming a mentor rather than gaining discipline and becoming a profitable trader.Looks to recover loses from new traders instead of trading the market
6)scared of putting another trade after losses , becoming mentally unstable after a series of losses
7)After a winning sequence , he becomes over confident and starts becoming lax about the trades , and loses more.

A program/software does none of the stupid things human do, it follows rules .It works on garbage in garbage out , if great intelligence and great rules are coded it provides great output ,software does exactly what is coded.
 
The biggest obstacle to operating a mechanical system is not the choice of whether to optimise or not, it's not the markets you choose to trade, it's not the platform you use, it's YOU, the operator.

Sticking with the system and not second guessing it .. this is the hardest part. Although I prefer mechanical over discretionary any time, partly for the reasons ODT listsed, but also because I know I'm not a good discretionary trader from experience.
 
meanreversion said:
The biggest obstacle to operating a mechanical system is not the choice of whether to optimise or not, it's not the markets you choose to trade, it's not the platform you use, it's YOU, the operator.

Sticking with the system and not second guessing it .. this is the hardest part. Although I prefer mechanical over discretionary any time, partly for the reasons ODT listsed, but also because I know I'm not a good discretionary trader from experience.
Click to expand...

There are three types of trading methods automated,mechanical and discretionary.
The discretionary method is the most difficult, it is where most fail .Sound mechanical systems can be easily managed and traded .Fully automated systems are so easy to trade , only require installing software and operating, the hardest part is developing the software.

Sticking with systems is difficult with all three types of trading,the discretionary systems can get trader's accounts blown very easily because there are no rules to protect the trader from stupidity and all the disadvantages.

All mechanical systems can be coded into automated systems ,they may not all be profitable as automated systems because there is always some element of discretion in profitable mechanical systems.

O D T
 
With automated trading the market can not play mind games with a disciplined computer , it can not trick me into going long instead of short , and placing trades on random trends and breakouts.It can not play with me, my emotions fear and greed.
 
N Rothschild said:
you are, without doubt, a complete spastic.
Click to expand...

Here is a complete list of your possible weaknesses as a discretionary trader

Firstly the three most important weaknesses not mentioned earlier

1)running losses until blowouts
2)cutting profits short
3)spastic trades on euro /usd

http://www.trade2win.com/boards/trading-journals/91138-market-direction-32.html#post1111128


Below is a repeat of previous lists

1)Need to continuously monitor markets and watch screen, geek.
2 greed , fear and discipline problems
3) money management or positive expectancy shortcomings
4) need to look for correct trade parameters i.e entries, exits ,stops,and trade management i.e tsl , b/e
5)Can't manage multiple strategies,set ups and instruments simultaneously.Sometimes as many as 20 set ups should traded simultaneously , using different systems.
6)Too many visits for 1 or 2 or breakfast lunch and dinner, and often missing great trading decisions
7) is distracted by wife, children, phone calls,postman ,neighbours etc
8)can't operates 24 hours a day without a trade time nap
9) requires alcoholic beverages during trade time
11)cat comprehend high complex strategies
12)abuses forum members and uses four letter words , takes out losing days on members.
13)needs anger management courses after losing days
14)buying wrong currency pair or instrument
15)buying wrong lot sizes
16)putting on revenge trades , trades just for the sake of revenge, against the market after losses.
17)Betting larger sizes above safe money management criteria , to recover losses
18)All manual errors lead to losses , chooses the same old path of becoming a mentor rather than gaining discipline and becoming a profitable trader.Looks to recover loses from new traders instead of trading the market
19)scared of putting another trade after losses , becoming mentally unstable after a series of losses
20)After a winning sequence , he becomes over confident and starts becoming lax about the trades , and loses more.
21)Hallicunating trade set ups
22)dreaming where price should end up
23)lack of concentration, too busy posting on internet sites
24)gambling instead of trading
25)emotionally disturbed by losses , can't take pain.
26)Watching porn whilst trading
27)Thinking more of whats for lunch dinner , than on trading set ups.
28)Buying low and cheap when markets are heading lower , selling when markets are heading higher.Computer does less of it , except Rockerfeller does more of it.Its called fundamental trading.
 
How on earth can you have any knowledge of his strengths or weaknesses as a trader? How ridiculously presumptious.
 
Most of your other shortcomings along with the other 35 in previous posts include

36)Timing out again and again

http://www.trade2win.com/boards/general-trading-chat/93490-throwing-towel.html

37) Inability to sit in front of a screen without any suicide trades.Desperate to trade .No patience.

38) Inability to read market direction

39)trading in the random zone

40)overtrading

After reading all the shortcomings , you will only end up as a loser in the 95 % club of losers.:LOL:
 
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