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Auto trading is only thing that conquered my darkside
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Auto trading is only thing that conquered my darkside

  #1 (permalink)
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Auto trading is only thing that conquered my darkside

I tried just about every mind trick I could to get my trading right. But found I was fatally flawed. Trading seemed to bring out my worst characteristics. I would read my trading plan and my rules out loud every day before market opened. I would type up contracts with myself that I had to sign but none of it worked.

One time I did over 100 emini trades in a day 1 contract at a time only ending when I blew up my account. I was not scalping but just out of control. I was in a cold sweat and I could not stop pushing that entry button. The trading ladder jumping up and down could just not be resisted. Like a carnival game that could not be won I went until all my money was gone. I ended that day in a fetal position in the corner with my thumb in my mouth. It was bad. Trading reduced me to a slot machine gambler with no discipline.

But then I decided to build my signals into an auto trade strategy. It was the best time and money I ever spent. It 100% solved my discipline issues. I have not entered a rogue trade outside of my plan for 2 years and am profitable. This may not work for everyone but was only way I could overcome the darkness that lurks in every trader.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #2 (permalink)
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  #3 (permalink)
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  #4 (permalink)
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I can totally relate to the idea of the OP.

Subjectivity kills me. I haven't figured out how to remove subjectivity from my trading.

I don't care if I could never code an effective ATS, even if my trading required me to actually see what I was doing and required discretion, as long as that discretion was completely objective as I saw it.

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  #5 (permalink)
Trading for Fun
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I feel ya

Lmao Yeah I've done this with the demo. I guess if automation works use it all the time. I just had to force myself to only take trades where I thought there was 90-100% conviction that it would go in my direction. Sometimes I'll just stop trading all together if the market doesn't look right to me.

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  #6 (permalink)
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sidney7g View Post
Lmao Yeah I've done this with the demo. I guess if automation works use it all the time. I just had to force myself to only take trades where I thought there was 90-100% conviction that it would go in my direction. Sometimes I'll just stop trading all together if the market doesn't look right to me.

Thinking the market has 90-100% conviction is still subjective. Markets don't care what we think, they are gonna do what they are gonna do. A pattern you think has 5% conviction might make gobs of money, and the one you think has 95% conviction might not give you 1 tick. Trading is a game of probabilities. If you have to 'think' about a signal before taking it, it's gonna be subjective. You have to identify 1 or 2 patterns that have historically proven themselves to work most of the time, and take those patterns every time they show up. If those patterns indeed win most of the time as suggested by your historical backtesting, then you will have yourself a winning system.

The moment you start cherry picking those patterns outside of what your backtesting revealed, then your results will only be as good as your emotional state/discretion is for that particular day, or even that particular trade. I guarantee you that if you cherry pick 2 of those 90% conviction trades in a row and they both lose, the 3rd time that pattern shows up, it will be a different decision process for you, why? because as a human being your emotional state will be compromised by those losses, and so your discretion will be compromised. Psychologically, a failed event that you thought had 95% success probability will affect you more then one you only thought had 5% success probability. String 2 or 3 of these together, you will start to question your ownn judgement. But if you are taking every trade, and your backtesting tells you, you will get 10 winners for every 3 losers, then you will have no problem taking that next trade.


Last edited by monpere; June 8th, 2011 at 05:32 AM.
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  #7 (permalink)
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monpere View Post
If you have to 'think' about a signal before taking it, it's gonna be subjective. You have to identify 1 or 2 patterns that have historically proven themselves to work most of the time, and take those patterns every time they show up.

The moment you start cherry picking those patterns outside of what your backtesting revealed, then your results will only be as good as your emotional state/discretion is for that particular day, or even that particular trade. I guarantee you that if you cherry pick 2 of those 90% conviction trades in a row and they both lose, the 3rd time that pattern shows up, it will be a different decision process for you, why?

.......String 2 or 3 of these together, you will start to question your ownn judgement. But if you are taking every trade, and your backtesting tells you, you will get 10 winners for every 3 losers, then you will have no problem taking that next trade.

Well said, I've been saying this for a while.


Last edited by forrestang; June 8th, 2011 at 10:19 AM.
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  #8 (permalink)
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I am facing a similar situation with the same solution / conclusion. I haven't blown up any accounts but I certainly haven't been profitable for similar reasons good systems but not following them, seeing trades which weren't there, anticipating trades hoping for a better entry or taking random trades.

Since I have switched to MC, I have been able to develop strategies and then trade them automatically. I have only been doing this for a couple of months, but already and seeing some positiveness in the account . I feel especially good today as I came home from work with three winning trades today, but it doesn't always happen like that.

It is really encouraging to hear your story, especially as many people on futures.io (formerly BMT) claim that auto trading doesn't work.

Thanks

Daniel

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  #9 (permalink)
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diverdan View Post
I am facing a similar situation with the same solution / conclusion. I haven't blown up any accounts but I certainly haven't been profitable for similar reasons good systems but not following them, seeing trades which weren't there, anticipating trades hoping for a better entry or taking random trades.

Since I have switched to MC, I have been able to develop strategies and then trade them automatically. I have only been doing this for a couple of months, but already and seeing some positiveness in the account . I feel especially good today as I came home from work with three winning trades today, but it doesn't always happen like that.

It is really encouraging to hear your story, especially as many people on futures.io (formerly BMT) claim that auto trading doesn't work.

Thanks

Daniel

Glad to hear you have something that is starting to work. Auto trading works if you have the right strategy and use good money management skills. I have found trading is profitable if you can manage the risks. When I backtest I look at risk first before I evaluate any profit potential.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #10 (permalink)
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Trading based on feeling or how the market looks will eventually drain your account. You will have some great highs and exhilaration followed by the lowest lows of your life. It is amazing watching my bot take trades. It often gets in a trade and I am convinced that trade will be stopped based on feeling or what I perceive the market to wants to do and it will end up being a winner. Likewise what I often think looks like a sure winner often ends up losing. So I just learned let the bot follow my rules.

Auto trading is only as good as the rules you set up. I could trade my system manually and profit if I followed my rules perfectly. Problem is I am imperfect and can't consistently follow my rules. So the bot removes me a few degrees from the market so my emotions are left out and probabilities are allowed to work.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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