Average Weekly Earnings

This is a discussion on Average Weekly Earnings within the General Trading Chat forums, part of the T2W Archive category; >> Have I got this right: that first 30 minutes where you talk about looking for patterns visually, that part ...

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Old Feb 9, 2011, 11:42pm   #65
Joined Oct 2006
Re: Average Weekly Earnings

>> Have I got this right: that first 30 minutes where you talk about looking for patterns visually, that part is manual? But then the rest is automated?

The entry is automated. It’s just that it’s so simple, I can look at a chart and know exactly what I would do. The simpler it is, the more it appeals to me.

>>I had previously imagined it as a system you just switched on and watched the results.

That’s exactly how it is.

>>I have a long-held tenet that you should never just take a manual system and automate it as is, and think this will deliver efficiency because it's automated. I'm talking about systems in general, which could be office procedures, manufacturing, accounting....it doesn't have to be anything to do with trading.

I have a long held tenet that automation is the key to freeing up time so that people can pursue more interesting and fun things! I’m talking about systems in general too. Take for example 2 families working a farm. Each family slaves all day on the farm to make their food. Then 1 family says, lets buy a machine to automate this instead of busting our backs all day. So they do. The other family looks at them and says, look at them with the machine, now most of them are out of a job! I feel sorry for them.

But the ones that were “out of a job”. They were thinking – finally I don’t have to do this crap work. I’ve always wanted to be a painter/chef/seamstress. So a few months later this family eats better, have better clothing and their house is full of beautiful art. Oh, and they are really happy doing things they love. The other family still slave away on their farm, still resisting automation :-)

>> One thing that would always worry me would be if there were subtle bugs in the code

That is why I monitor it, and have Interactive Brokers on Speed Dial. Takes me about 5 seconds to know everything is ok from my iPhone.

>> (hat under certain conditions might allow a trade to run away from you in a big way (and for whatever reason the stop wasn't in place, or it couldn't be acted on ... worst case scenario), and you lost a bomb in a very short time.

Even worse, it runs away in your direction and you make a crap load of money !! Darn it, now you can’t claim that as part of your system gain… shoot….

Seriously, that is why I monitor it.

I trust a program over a human anytime. Human’s make mistakes, but when a program does, it usually does the same mistake under the same circumstances, and can be easily corrected. Human’s seem to make them erractically, and it’s darn hard to debug or fix them.
The hard part for the Human is to just let the program run. I traded my system manually for a long long time before automating it.

As long as I start it up each morning, my program has never hestiated putting on a trade, even if the last 3 in the row were losers. It never said “I know this STOP is too big, this is not right, let me change it”.

If it could say anything, I bet it would say “just leave me alone to do my thing, check on me once in a while, but go enjoy yourself you have better things to do than look over my shoulder”.

If you believe it will work, then you stand a chance of making it work. If you believe it won’t, then you will never even begin.

I believe, and I truly enjoyed all the time I spent writing and debugging the code.
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Old Feb 10, 2011, 11:28am   #66
Joined Feb 2011
Re: Average Weekly Earnings

Originally Posted by montmorencyt2w View Post
This is live (real money) trading, right?
yes, real money is being traded. I have used this program for a while and designed it all on my own. Several people run this already on their systems. That is only based on 2 contracts, and I know a few run 4-10 contracts at a time.
It is and can be too soon to take profits! Let your winners run!
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