Robots and what ..
Ok Guys/Gals. (before i start, to get started in trading i have spent money 1. in mentorship. 2. in books. 3. hundrends of hours in lost sleep due to working on trading strategies and indicators of my own so i know what i am talking about).
really? trading robots? automated trading system?
i really want to help you folks understand something.
do not fall for the bogus statements, and bogus program that make you 999999% return a year.
This is not possible.
Renaissance Technologies - Wikipedia, the free encyclopedia
Renaissance technologies hedge fund hires the best of the physicist, mathematicians possible. They can barely make 35% - 60% year.
How the F can a program make that much return for you?
if that was possible they could have gone to a hedge fund presented this system to them let the hedge fund see the results for a month and make a billion dollar in a month selling it.
I have traded for UBS for 2 years. I have had a 1 million dollar portfolio of my own to trade when i traded for UBS and I could barely make 7% - 15% a year even with all the tools we had.
you can never make millions of dollars with robots.
making consistent money requires:
1. it require an active money management.
2. a good trading system and set of indicators are needed (but it has to fit you).
But along with that you need understanding of the markets, the movements, the set ups, and most of all your psychology.
DOES THIS SOUND LIKE YOU?
You start to trade. You go to chat rooms to chat rooms. Forums to fourms. Sites to sites to find indicators, strategies, and other methods to make money. You by this TA book, you buy that TA book. And at the end you invest hundreds of thousands of dollars to get back to where you started?
You try 5 indicators and then 10 and then when the trades work you feel good and when they don’t work you feel like you need more indicators. So you curve fit your trading system to so that one loss you had now looks like w inner?
Right? Remember that the only person you need to be true to is that person in the mirror. You can say anything bad about this post you want and it will not help you at all.
So Read on then:
Now on to the trading indicators and trading system:
Every TA book teaches to use 20, 50, 100 and 200 day MAs. Or MACD with this settings and RSI with that settings.
if everyone in the F***ing world uses these settings then everyone takes the same steps. That means the smart money is probably using something else.
You can only make money if you use different set of indicators than what everyone else is using. I am all about developing a set of indicators and a good system that fits me.
Find a set of indicators ( i have spent money learning to use them and have invested hundreds of hours developing trading indicators myself).
Find the indicators, study them, get a feel for them, do at least 300 – 600 simulated trades in each market you want to trade. While trading tweak the indicators and systems until they feel like they fit your risk reward profile.
There are no shortcuts to making money.
Every trade needs to be entered in a excel sheet. You do your money management on that excel sheet. You have to look and F***ing stair at that excel sheet that show you your trades. You cannot just backtest your indicators like the PROs. B/c your indicators are based on momentum. Your indicators are based on common sense. Your indicators and psychology is based on what an average mind thinks. Their indicators include not just technical analysis but also fundamental analysis. Their system trade baskets of assets not just one or two or five assets like you and I do. Their system is uncommon. Its been developed by the group of folks far better than 90% of this world. (that’s why 10% of world is rich and 90% poor).
So think like a pro.
Use different set of indicators.
USE money management.
Learn to tell the truth to that person in the mirror about your trades.
Don t curve fit your indicators so that it makes that one loser a winner.
Practice practice practice but practice perfectly. Perfect practice makes perfect trades not just practice.
If you think that something that can help you with your trades do buy it. Find a good mentor. If someone is selling a system but also sells his services that helps you understand WHY (f*** how you have to learn how) than buy that service and system.
You spent thousands on college tuition that ain’t making you rich (and that’s why you are here on this page) then whats 200-300. but spend that wisely.
When you want to invest in a system or a service call the owner or that system and service. If owner does not speak to you then F it. Move on.
They should provide you with the service like at McDonalds. You should be able to ask anything to them (but not show me your bank statements and your live trading NO GOOD trader will do this this is not ever done in the industry).
Ask them what different things mean.
Ask them about what type of money management they used with the system.
Don t ask them to reveal whats being used to calculate entry/exit points. This like giving away formula to coca cola.
Invest money to make money.
Ok Guys/Gals. (before i start, to get started in trading i have spent money 1. in mentorship. 2. in books. 3. hundrends of hours in lost sleep due to working on trading strategies and indicators of my own so i know what i am talking about).
really? trading robots? automated trading system?
i really want to help you folks understand something.
do not fall for the bogus statements, and bogus program that make you 999999% return a year.
This is not possible.
Renaissance Technologies - Wikipedia, the free encyclopedia
Renaissance technologies hedge fund hires the best of the physicist, mathematicians possible. They can barely make 35% - 60% year.
How the F can a program make that much return for you?
if that was possible they could have gone to a hedge fund presented this system to them let the hedge fund see the results for a month and make a billion dollar in a month selling it.
I have traded for UBS for 2 years. I have had a 1 million dollar portfolio of my own to trade when i traded for UBS and I could barely make 7% - 15% a year even with all the tools we had.
you can never make millions of dollars with robots.
making consistent money requires:
1. it require an active money management.
2. a good trading system and set of indicators are needed (but it has to fit you).
But along with that you need understanding of the markets, the movements, the set ups, and most of all your psychology.
DOES THIS SOUND LIKE YOU?
You start to trade. You go to chat rooms to chat rooms. Forums to fourms. Sites to sites to find indicators, strategies, and other methods to make money. You by this TA book, you buy that TA book. And at the end you invest hundreds of thousands of dollars to get back to where you started?
You try 5 indicators and then 10 and then when the trades work you feel good and when they don’t work you feel like you need more indicators. So you curve fit your trading system to so that one loss you had now looks like w inner?
Right? Remember that the only person you need to be true to is that person in the mirror. You can say anything bad about this post you want and it will not help you at all.
So Read on then:
Now on to the trading indicators and trading system:
Every TA book teaches to use 20, 50, 100 and 200 day MAs. Or MACD with this settings and RSI with that settings.
if everyone in the F***ing world uses these settings then everyone takes the same steps. That means the smart money is probably using something else.
You can only make money if you use different set of indicators than what everyone else is using. I am all about developing a set of indicators and a good system that fits me.
Find a set of indicators ( i have spent money learning to use them and have invested hundreds of hours developing trading indicators myself).
Find the indicators, study them, get a feel for them, do at least 300 – 600 simulated trades in each market you want to trade. While trading tweak the indicators and systems until they feel like they fit your risk reward profile.
There are no shortcuts to making money.
Every trade needs to be entered in a excel sheet. You do your money management on that excel sheet. You have to look and F***ing stair at that excel sheet that show you your trades. You cannot just backtest your indicators like the PROs. B/c your indicators are based on momentum. Your indicators are based on common sense. Your indicators and psychology is based on what an average mind thinks. Their indicators include not just technical analysis but also fundamental analysis. Their system trade baskets of assets not just one or two or five assets like you and I do. Their system is uncommon. Its been developed by the group of folks far better than 90% of this world. (that’s why 10% of world is rich and 90% poor).
So think like a pro.
Use different set of indicators.
USE money management.
Learn to tell the truth to that person in the mirror about your trades.
Don t curve fit your indicators so that it makes that one loser a winner.
Practice practice practice but practice perfectly. Perfect practice makes perfect trades not just practice.
If you think that something that can help you with your trades do buy it. Find a good mentor. If someone is selling a system but also sells his services that helps you understand WHY (f*** how you have to learn how) than buy that service and system.
You spent thousands on college tuition that ain’t making you rich (and that’s why you are here on this page) then whats 200-300. but spend that wisely.
When you want to invest in a system or a service call the owner or that system and service. If owner does not speak to you then F it. Move on.
They should provide you with the service like at McDonalds. You should be able to ask anything to them (but not show me your bank statements and your live trading NO GOOD trader will do this this is not ever done in the industry).
Ask them what different things mean.
Ask them about what type of money management they used with the system.
Don t ask them to reveal whats being used to calculate entry/exit points. This like giving away formula to coca cola.
Invest money to make money.
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