Automated Trading - Is there hope?

[irkyle1983]

Hello all,

I have been trading the Forex market for 4 years and I need automated trading strategies due to a change in my employment status (and I'm not a very profitable trader and need a change in direction.)

I am looking to find out if anyone has past/present experience or considering automated trading for the future.

Please, I am looking to visit and contribute to threads around this topic, does anyone know of any good threads here?

Thanks and looking forward to your replies.

Ian

 

[irkyle1983]

I trade only automated. The key is to have as many uncorrelated strategies as possible.

Hi jcl365,

Thanks for the reply.

If I may ask, which approach are you using to automate trading? EA's, Mirror Trader, etc.

I am considering a Mirror Trader account, I've tried the demo however was looking to find out some success stories or not, whichever the case may be.

P.S. Where abouts are you in Germany my friend? I visited Munich and Berlin in the summer, I thought they were great places.

Thanks,
Ian

 

[Pat494]

Consider Zulu trading. There are threads here on it.

or

swing eod trading.

 

[irkyle1983]

Consider Zulu trading. There are threads here on it.

or

swing eod trading.

Hi Pat494,

Thanks for the reply.

Yes I've heard of Zulu trading but not eod trading.

I heard a horror story about zulu trade about 6 months ago, there was signal provider on GBPUSD who had massive losses with 5 million bucks backing him. I think he wiped out a lot of accounts?

What about Mirror Trader, are there any threads on this? Platform seems nice but could be just for show. Trying to widen my horizons.

Thanks guys,
Ian

 

[Pat494]

I am a bit new to zulu and only have a demo account. It is however in profit !

EOD or end of day trading could suit you. Get a charting prog for free and do your analysis when you get home. Pick your vehicle - FTSE 100 or S&P 500. Get your data free too. Good hunting around. It takes a while to find what suits you. And yes take care. One's entire wedge can disappear in a second if you make a big mistake.

 

[irkyle1983]

I'm in Frankfurt - and as to the approach, I don't want to use Zulu, Mirror etc because I only trust strategies that I messed up myself. If I then lose money, it's at least my fault.

I'm trading since about a year and publish the systems on my website. This is the equity curve of my best automated system so far:

My advice is that you learn coding if you can't do that already, and then develop your own automated strategies. I found that not very difficult.

I've never been to Frankfurt, but it is on my list for sure.

Sure, your approach makes sense, at least if you lose then it was in your own hands, and if you win all the more satisfying

Programming was never my thing, tried some at school and absolutely detested it, if you put a comma instead of full stop in 300 lines of code the program crashes

I suppose I am like most people out there, wanting to make sensible investment without doing a lot of work (I do not have much time with young family). I will however consider the programming as a possibility.

I think for ease of use, I will most likely consider Mirror Trader to get started and work from there.

I think it would be great if I could have a few people accompany me on the demo account so we could try to identify good strategies together.

Please let me know if anyone would be interested in this month long experiment (demo account is 30 days expiry).

Thanks guys,
Ian

 

[irkyle1983]

I am a bit new to zulu and only have a demo account. It is however in profit !

EOD or end of day trading could suit you. Get a charting prog for free and do your analysis when you get home. Pick your vehicle - FTSE 100 or S&P 500. Get your data free too. Good hunting around. It takes a while to find what suits you. And yes take care. One's entire wedge can disappear in a second if you make a big mistake.

Thanks for your input Pat494, much appreciated.

I will certainly take your advice on board. I understand what you mean about losing a wedge on making a mistake, I have certainly done this in the past.

EOD is even testing for me given that I have a young family to contend with at the EOD never mind the trading aspect!!

They are the reason I am looking for a smart long term investment. Family comes first.

Thanks for your help and wishing you good trading.

Ian

 

[bbmac]

I think is is an almost certainty that at the retail level an automated strategy/robot/Ea does not exist. The industry at the retail level is littered with failed strategies such as you mention in your postings on this thread and this is reflected with the exhaustive threads and Ea devlopment by many at this and other forums - like forexfactory.com.There is a great thread/journal here by Travis - MyJournal3 which succeeded MyJournal 1 and 2 - and is the account of a 14+ years trading journey leading to the search for an automated trading stategy consisting of a portfolio of automated systems. To date success in the sense of long term consistent reliable gains within a sensible/tolerable drawdown has alluded him and of all the threads I have read on this subject he is by far the most diligent, hard working and intelligennt pursuer of this aim.

In the final analysis you will probably find that with the resources available to you - it can't be done - or at least that is the greater probability - and maybe you should consider looking to achieve your goal via something higher in probability of a successful outcome.

G/L

 

[irkyle1983]

I think is is an almost certainty that at the retail level an automated strategy/robot/Ea does not exist. The industry at the retail level is littered with failed strategies such as you mention in your postings on this thread and this is reflected with the exhaustive threads and Ea devlopment by many at this and other forums - like forexfactory.com.There is a great thread/journal here by Travis - MyJournal3 which succeeded MyJournal 1 and 2 - and is the account of a 14+ years trading journey leading to the search for an automated trading stategy consisting of a portfolio of automated systems. To date success in the sense of long term consistent reliable gains within a sensible/tolerable drawdown has alluded him and of all the threads I have read on this subject he is by far the most diligent, hard working and intelligennt pursuer of this aim.

In the final analysis you will probably find that with the resources available to you - it can't be done - or at least that is the greater probability - and maybe you should consider looking to achieve your goal via something higher in probability of a successful outcome.

G/L

Hi bbmac,

Thank you for the insightful post.

I totally understand what you are saying. There is most likely a lot of truth in what you are getting at about the retail Forex market. After all, if systems were very successful, the developers would have no need to release or sell it.

I will certainly have a look at the journals you mentioned for some valuable information I'm sure.

I am going to test a demo account with Mirror Trader to see how things go.

Thanks again,
Ian

 

[Pat494]

I think is is an almost certainty that at the retail level an automated strategy/robot/Ea does not exist. The industry at the retail level is littered with failed strategies such as you mention in your postings on this thread and this is reflected with the exhaustive threads and Ea devlopment by many at this and other forums - like forexfactory.com.There is a great thread/journal here by Travis - MyJournal3 which succeeded MyJournal 1 and 2 - and is the account of a 14+ years trading journey leading to the search for an automated trading stategy consisting of a portfolio of automated systems. To date success in the sense of long term consistent reliable gains within a sensible/tolerable drawdown has alluded him and of all the threads I have read on this subject he is by far the most diligent, hard working and intelligennt pursuer of this aim.

In the final analysis you will probably find that with the resources available to you - it can't be done - or at least that is the greater probability - and maybe you should consider looking to achieve your goal via something higher in probability of a successful outcome.

G/L

I am sure it is possible. The big guys like Goldman's channel lots of money in hiring top quality Phds etc. They obviously wouldn't do this if it came to losses. The software companies often state it is up to the individual. That gets them off the hook, by passing the buck onto the customer. The average person probably can't do it though.

 

[fibbinstarchi]

No hope for automated systems, they are a rip off.

 

[Pat494]

I tested zulutrade it's not good signal provider

Some claim to make money on zulu. I made a bit on a demo last month and it was my first try. Although with commissions and slippage it may not have made a profit. Same ole story - the 95% lose and the 5% win.

 

[Pat494]

Some claim to make money on zulu. I made a bit on a demo last month and it was my first try. Although with commissions and slippage it may not have made a profit. Same ole story - the 95% lose and the 5% win.

Statistically in the USA the richest 5% own 95% of the wealth ( property etc. ). Sort of looks there might be more than a coincidence ? I wonder what it is in other countries ?

 

[irkyle1983]

So you guys think that all automated trading there is no hope.

Have any of you experience with Mirror Trader?

I know that it is similar to Zulu.

 

[hellrise]

I will agree with Mr Ashan , if you dont have time to trade manually and you want to copy other traders then your choice is Zulutrade . Mirror trader does the same thing but with fewer traders , fewer customize options and i'm preety sure fewer subscribers.

 

[BeginnerJoe]

I will agree with Mr Ashan , if you dont have time to trade manually and you want to copy other traders then your choice is Zulutrade . Mirror trader does the same thing but with fewer traders , fewer customize options and i'm preety sure fewer subscribers.

Even if you do have time to trade, why would you need to ? Can you not just copy other people and sit back and collect the money ?

 

[hellrise]

Well in order to copy someone there should be traders that you could copy lol So someone should do this job in this chain. If you are a trader and you have the time for this then you could make profits from both your followers (as you'll get compensated in zulutrade) and your trading.

 

[Pat494]

Is there any point in trying to learn MT4 or MT5 ?
I mean are any of the indicators remotely useful ? There appear to be a lot of them but quantity doesn't mean quality.

 

[tem]

I would like to find a Trading Platform that would allow me to add my own data. For instance, I would like to add the data provided at globalzoneonline.com Financial Market page. Any suggestions. I'm using AmiBroker but can't find any advise...

 

[Pat494]

There are better trading platforms with better and far easier languages.

Do you mean ninjatrader ?