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I am a self taught trader. Started out with TC2000 and Yahoo Finance back in 95. I have traded stocks, futures, Forex and most recently options. I tried every indicator I could get my hands on. Came to the conclusion in recent years all backward looking indicators are worthless.
I tried to do automated trading and had spotty success. Figured out you have to be well funded and and have a team working with you in order to make 6 figures and have long term success. Plus you have to have a stable custom trading platform for order execution. I found out the hard way that most retail platforms despite it being a selling point of their platform, are not reliable/stable enough to automate a trading strategy long term.
I have read quite a few books over the years but most of them show perfect market conditions or a period of time when the strategy worked. Not all the information is bad its just most of it is not applicable to the real world.
I learned how to trade options last year and was profitable. There are 3 key pieces which made everything click for me. Understanding volatility and expected move and recognizing binary event and how it impacts the product your trading.
Last fall I combined volatility and expected move along with mean reversion and have been successfully trading futures. Trading in a word has become simple. I look charts twice a day and place trades accordingly. My goal this year is to continue to refine my strategy and increase the number of contracts.
At the end of the day, you have to find your own path. While it is possible to use another traders strategy, the chance of successfully duplicating their results is statistically unlikely. You would be better off finding something, regardless of what it is, that makes sense to you and start from there. Most importantly, if you want this never give up. Life's greatest failure is not realizing how close you were to success when you gave up. To this point; its taking me 25 years to finally be consistently profitable. It was worth the journey.
hi robert... are you open to discussing volatility and expected move with your mean reversion trading? i daytrade futures using volatility and expected move with trend trading.
Silver Dragon and i wanted to discuss this topic and we both trade futures, so i have added this topic here because i have used the emini's as an example in our discussion. i also use the same analysis for currencies, metals, crude and natural gas.
