Hi all, I've been "trying" to swing trade fx for about 4 years now but failed to become consistent. I'm the stereotypical trader story unfortunately. I have now cone to the conclusion that the only way I will be able to trade profitability is via algos on the futures markets with tradestation!
I have seen several people lately that trade a portfolio of different strategy's to help smooth out the equity curve.
So my plan is to get some algos and get set up on ts, I would like to trade a daytrade system maybe a mean reversion or volatility breakout, a swing and trend following system.
I have seen lots of people with near perfect 45% equity curves on their TS backtests and feel it would be my best chance at turning my trading around.
I have looked at blue wave trading and trade like pros but they all want mega money for their algos.....
So is there somwhere I could get them cheaper as they are usually only very simple ideas based on the same old classic designs ....
Do you even know what an Algo is? You can't just go throwing around the word Algo.
If you want to be a quant trader you can't just buy a few "Algo's" and start trading successfully. That's retarded. You have to come up with your own ideas/strategies, learn to write your own code, and then learn how to properly backtest.
Don't bother looking at all these turn key style algos websites, they're all BS. If the "Algo's" they're selling were so great then they'd scale them up and trade them for themselves.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
The following user says Thank You to Neo1 for this post:
Soooo disappointing, after reading this forum I thought it seemed quite helpful and not like others id read.
Then I get the stereo typical forum replies, one quiet helpful , one just bitchy and rude and the other just mocking.....
Hardly worth signing up for, I guess you bunch of losers are all here for the same reason as me because none of you know how to trade.....
I'm not sure which answer was mine (helpful, bitchy/rude, or mocking), but I can tell you the short answer I gave you cost me tens of thousands to figure out. Once I figured it out though, the tables were turned.
Good luck on your trading journey.
If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
The following 3 users say Thank You to kevinkdog for this post:
Well, I was going to reply, but I guess there's no point.
But just in case there is, or in case someone else is reading this with the same questions, here goes:
It is very unlikely that your plan will succeed, because:
1. It assumes someone who has a great algorithmic method would find it more profitable to sell it to you than to use it himself.
2. So he can't make that much from just trading it, but you can.
3. You would like to find someone whose method not only works, but is also cheap. So it's not only great, but he doesn't want much for it.
There is a terrifically profitable industry of selling dreams and snake oil to traders, and there probably always will be.
Sure, there are things that work, but I believe the overwhelming experience of traders is that you will have to figure them out for yourself. People can give you help in the form of a better understanding of what to do and how to do it, but not really a pre-packaged, cheap solution.
If that were possible, wouldn't everyone be rich already?
Now, as to all us losers, it is possible that this is not the forum for you, and if so, it's good that you found that out quickly. But if you are willing to do the work, you really can learn stuff here. Many do.
Or not, your choice.
The following 6 users say Thank You to bobwest for this post: