It all depends on what you are trading and what your schedule is. You may not need to automate at all. There are many successful traders who don't automate, particularly day traders and position traders. If you are only going to day trade, then you don't necessarily need automation. The reason I use automation is because I trade currencies, which are a true 24 hour market. When I would miss trades overnight, I tended to chase trades or trade counter-trend or trade out of boredom. So, I use automation when I am not able to man the computer. This way, for better or worse, I don't miss anything and start screwing up. It seems to be mostly swing traders like me who benefit from automation. If you are not a swing trader (holding 1-5 days), you probably don't need automation except that the coding is still useful for back testing strategies. Get your screen time in using a demo account and you will find out what is most important for your schedule and personality. Happy trading!
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I have friends that trade futures...mostly the ES, but also with currencies. I, along with those same friends, have traded on FX Spot for several years. They got me interested in what they had been doing in the futures area and how they were using that to help trade Spot.
I know that this is a little unusual, but for them it works.
I am 58 years old, and I'll probably retire from the rat race in 5 or 6 years.
I trade FX Spot on MT4, but my preferred trading platform is Java based Oanda web. It doesn't have very good charting, but that is why MT4 comes in handy.
I am a member of a couple of other private forums where I have learned a lot of good trade ideas. Something I've learned over the years that seems to work across all markets and all time frames is something that is called a Swing Failure Setup. Dr. Gary Dayton calls it a Spring. It's easy to see once someone shows you what it looks like. I haven't read enough in here yet to see if anyone at Big Mike's is using it in Futures. I suspect that they are.
As always I keep an open mind about other people's ideas...I find I can learn from anybody if I keep my mouth closed and my ears open.
I'm developing Trading Systems from 25 years.
I'm using TradeStation and MetaStock only (my first TA tool was MetaStock 1.0 for DOS and then SuperCharts) and i have no idea or time to learn how use any other.
Most of my systems are focused on FX Trading and are Trend Following oriented.
Hello! I've been trading derivatives, currencies and options since 2009. Full time, every day, all day. Except Saturday and half of sunday somtimes.
I use fundamental technical, technical, and fundamental analysis: tracking High frequency traders, central banks, big money, brokerages and retailers to figure out how the market is preparing for fundamental information.
The pricks for you to kick against 1. Central Bank 2. Broker 3. High Frequency traders 4. Big Money 5. (what's left of their accounts) retailers. 1 2 and 3 pretty much make up the God Head of trading.
I take home moderate success. Nothing fancy, but it's consistent.
I've been trying to meet more traders; I love my wife and cat but they don't care about trading and have no useful opinions.
I started trading in late 2009 with CFD's, got burnt, then Forex, got burnt, then options and have had some success. Now I've found a place where I'm confortable to trade and that's the SPX weeklies. Mostly sell Iron Condors and Spreads, depending on what I think the markets doing. I'm looking to learn other techniques and I need to get more proffessional and understand the Greeks and have my indicators sorted. Thanks to Mike and the other members for their genorosity in time and advice. Much appreciated. Mark.
I have been following you for years, and glad to see your community growing, i have been trading for five years now it's been a roller coaster ride but love the game! now that i remember my password i will contribute my experiences along the way.....
happy trading everyone
once you go green! shut down your machine
i've been stalking the threads here on futures.io (formerly BMT) for a few weeks now, enjoying all of the different perspectives and trading methodologies. i figured i had better come out from the shadows and introduce myself.
i started off position-trading stocks back in 2006, then progressed to swing-trading ETFs and options in 2007, and now intra-day trading index futures. i, like many others on here, have blown up my account several times as i grew and suffered set-backs as a trader. my journey to find that magical combination of indicators and oscillators to capture every top and bottom is, thankfully, over.
today, i still struggle with overcoming some aspects of my trading personality, but through some of the threads i have read on this great community, i realize i am not alone. i just need to find a style and strategy that fits me.
i currently do not have a trading strategy, so i do not have anything to offer in that regard. i have "emptied my cup" and am looking to start over with a fresh set of eyes and a new perspective.
i am grateful that i stumbled upon this site, and the folks who come on here to share their insight and experiences.
hi i guess i was required to do some intro here so here i am.
i've been involved in trading for almost 10yrs
and the end of last yr like december i decided to go with ninjatrader to make an end to all the buring candles on the cost of my precious time. i'm so glad that i got bumped into ninjatrader and its c# coding, as well as this supportive forum. so i'm so happy to find this place and i'm looking forward to get something out of here and bring something in as well
I've been trading on and off for about ten years, with a day job it is challenging.
I'm using Multicharts because I like the platform, I have used Ninja before but I like the layout of MC. I'm an amateur when it comes to programming and tend to learn what I need as I need it! I have written some programs in C# (not trading related) and have also done a lot with VBScripting which is kind of why I like easy language more.
Anyway I hope to bring some ideas and maybe even a little help when I can! Good luck to you other traders whether you're a master, aspiring or new trader there is always plenty to learn but you need to figure out when enough is enough and just have at it!