Hi Traders,
As Brett Steenbarger pointed out that elite performance traders require a lot of practices - Marc, a million dollars traders do about 100 trades a day for years to become an expert trader. Thus it is very important to build a proper simulated platform and datafeed to conduct extensive practices on any strategies developed.
I've been trying to build a simulated testing environment for various trading strategy testing. Basically, there are two ways - one way is to write a program to do back testing (which supported by a lot of platform) with historical data; and the other way is to paper live trade (also support by many vendors' demo account).
The first way is good to test only a well defined strategy and required some programming efforts. Even after the strategy is back-tested, it is also advisable to test it in the live environment using paper account.
For the second way, if one is testing a day trading strategy such as 5mins to 60mins, you may still get a lot of signals per day. However, if the strategy is for swing trading or only one signal a day, then it may take a long time (6-12mths) to test the strategy.
I’ve built the testing environment for only strategy based on tick chart or range bar chart, for example Woodie CCI method. I use Ninja Trader as a platform, get a program developed by a user called VitaminC, download a lot of tick data and feed to the NinjaTrader using External Data Feed. I can control the speed of data feed and really simulated like a real trade to practice Woodie CCI method - It is great, a week of data which takes five days using paper trade account now can be done within few hours (anyone who need more info, I am welling to share it).
However, Ninja Trader does not take the timestamp on the tick data coming in; therefore it cannot test for time based strategy such as min, hour and daily chart. I would like to set up an environment where any time based strategy can be tested. For example, I would like to load GBPUSD pair data from Jan2003 to Dec2004 (2 yrs historical data), and start feeding tick data from 2Jan2005 onward to test my strategy day by day. In this case, I am bringing myself back to 2Jan2005 and only able to analyse the weekly, daily, hourly chart up to Dec2004 while trying to trade from 2Jan2005 onward.
I believe this testing environment will benefit a lot of traders who wish to practice as much as possible within a shorter period – as what Brett said, “a 10 years experience can be gained within months”.
Metatrader could be a good platform but I need someone to develop a datafeed program. Pls share your idea here!
Regards,
Toyogo
As Brett Steenbarger pointed out that elite performance traders require a lot of practices - Marc, a million dollars traders do about 100 trades a day for years to become an expert trader. Thus it is very important to build a proper simulated platform and datafeed to conduct extensive practices on any strategies developed.
I've been trying to build a simulated testing environment for various trading strategy testing. Basically, there are two ways - one way is to write a program to do back testing (which supported by a lot of platform) with historical data; and the other way is to paper live trade (also support by many vendors' demo account).
The first way is good to test only a well defined strategy and required some programming efforts. Even after the strategy is back-tested, it is also advisable to test it in the live environment using paper account.
For the second way, if one is testing a day trading strategy such as 5mins to 60mins, you may still get a lot of signals per day. However, if the strategy is for swing trading or only one signal a day, then it may take a long time (6-12mths) to test the strategy.
I’ve built the testing environment for only strategy based on tick chart or range bar chart, for example Woodie CCI method. I use Ninja Trader as a platform, get a program developed by a user called VitaminC, download a lot of tick data and feed to the NinjaTrader using External Data Feed. I can control the speed of data feed and really simulated like a real trade to practice Woodie CCI method - It is great, a week of data which takes five days using paper trade account now can be done within few hours (anyone who need more info, I am welling to share it).
However, Ninja Trader does not take the timestamp on the tick data coming in; therefore it cannot test for time based strategy such as min, hour and daily chart. I would like to set up an environment where any time based strategy can be tested. For example, I would like to load GBPUSD pair data from Jan2003 to Dec2004 (2 yrs historical data), and start feeding tick data from 2Jan2005 onward to test my strategy day by day. In this case, I am bringing myself back to 2Jan2005 and only able to analyse the weekly, daily, hourly chart up to Dec2004 while trying to trade from 2Jan2005 onward.
I believe this testing environment will benefit a lot of traders who wish to practice as much as possible within a shorter period – as what Brett said, “a 10 years experience can be gained within months”.
Metatrader could be a good platform but I need someone to develop a datafeed program. Pls share your idea here!
Regards,
Toyogo