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indicators and strategies
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indicators and strategies

  #11 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
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TRADER24 View Post
Hello

Ok, it was just a question!
What's so bad about indicators and strategies?
To act wen your method is so good why do not automate it as a strategy?

If your method is good, then why your post #1 above to the contrary?

You asked for advice, you've been given advice. Now the fact of the matter is, you will almost certainly ignore said advice, but hey someone's gotta make all those statistics come true

Hope to see you around in a few years and see if you still feel the same as you do today.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

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to support our community, become an Elite Member.

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  #12 (permalink)
Elite Member
Montreal, Qc, Canada
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Interactive Brokers/Kinetick
Favorite Futures: ETF
 
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Posts: 38 since Jun 2011
Thanks: 114 given, 27 received

Various paths to success....

Although I think @BigMike's advice is very valuable let me offer you a slightly different perspective. As you can imagine, there are multiple paths to become a successful trader.

Here's my experience in a nutshell:
0. Never had a trading journal (but started with detailed trading plan)
1. Spent hundreds of hours to read, develop my own algorithm, backtest, sim autotrade, autotrade live
2. Had pretty good successes then had a drawdown of about 17%
3. Spent hours to read, test and trade live with rigorous risks/money management rules
4. Had very good successes but then had 5 months in a row with negative results (small ones though)
5. Spent hours to read, test and trade live statistical approaches to optimize between non-correlated algorithms
6. Enjoying great results (but continue to fine tune)

So as everyone else is suggesting, it's a long journey for most of us but you'll have to define your own path. Now to answer more specifically to your question, you can find ideas/starting points for indicators and strategies by reading books like: "Mastering the Trade", "Investing with Volume Analysis", "Micro-Trend Trading", etc.

Good luck !

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  #13 (permalink)
Elite Member
Wayne, NJ USA
 
Futures Experience: Intermediate
Platform: Multicharts, Deltix DCS
Broker/Data: Interactive Brokers/IQ Feed
Favorite Futures: ETF Options
 
Posts: 41 since Oct 2012
Thanks: 7 given, 36 received


I pretty much agree with all advice of BigMike's advice except forget about the algorithmic trading part. I saw that you posted your trading strategy in another thread. Here is my advice if you want to go the algorithmic trading route. My first advice is stop back-testing immediately.

Start auto trading your strategy that you have created in a simulated account. Watch your strategy auto trade for a few months. Keep a journal of each trade and any observations/thought you had at the time of each trade. Resist the urge to change any of the strategy behavior especially if it is losing money. This exercise is designed to accomplish several things.

You’re going to find back testing and live trading are very different. In back-testing your strategy runs continuously without interruptions or crashes. In live trading, you will need to restart your trading strategies often due to things like crashes, software updates, power outages, and etc. You will start to find that certain trading strategies are unsuited for living trading even though they can be back tested.

What do you do when your system misses a trade due to the internet being down? An answer such as wait for the next trade is more complicated than it appears. Do you start to look for the next trade signal or wait until your system has exits this current trade even though you missed it? You’re going to have many questions like these. Your answers will affect how you develop and implement all of your trading strategies going forward.

You need to become aware of the limitations of the back testing engine. Ex. Not knowing the order of the Open, High, Low, and Close. How do my simulated trades compare to my back test trades? An inaccurate execution model is much worse than over fitting. At least, over fitting can be detected using walk forward optimization.

Finally, you’re going to learn more about trading by watching your system trade then you’re going to learn from back-testing and playing around with indicators. After a few months, you’re going to notice things like oh the strategy consistently loses here when this happen. You’re also going to find out a lot about yourself as a trader such as your beliefs and risk tolerance. Following a trading system is just as psychologically difficult as manual trading. Ex. If you are a momentum trader/trend follower and you start auto trading a mean reversion strategy. You’re going to abandon the system at the first sign of a drawdown.

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  #14 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,240 since Jun 2009
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quantarb View Post
I pretty much agree with all advice of BigMike's advice except forget about the algorithmic trading part.

As I've stated in the thread I linked to, my believe is you first need to know how to trade successfully before you can write algorithmic strategies that are profitable. This applies to the majority of retail traders.

I'm not saying abandon algos all together, but don't use them to try and solve problems from your own discretionary trading.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #15 (permalink)
Trading Apprentice
istanbul turkey
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: stock
 
Posts: 2 since Jun 2013
Thanks: 1 given, 0 received


TRADER24 View Post
Hello

I have tested many indicators and strategies, but unfortunately nothing has led to the desired result.
Can you recommend me some good indicators and strategies with which you made your positive experiences.

I would be very happy whom you can help me.

thank you

I live in Turkey and I transact in international stock markets. I have a unique technique that I use but it's not possible to scan stocks according to this technique in Turkish platforms. The technique I use has a high success rate. I'm looking for someone who can work with me and scan the data I need. All I need is this: to scan a specific date for the highest closing price that was passed beyond but the highest point in a day was not passed beyond. or vice versa. for example: January 1th-30th. the highest point in a session is 20 and the highest closing price is 17. Within the date range, the stock closed for 18 but in a session didn't pass 20. I want a scan just like this and I want it to be able to scan in all of the stock markets and financial instruments in the world. I'd appreciate If you could help me. The stocks could be of use to yourself, too.

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