Where to next?

[daxdaytrader]

Hi,

I've been into trading for 2 years, mostly trying autotraded and other services - they were all losers!

For past 6 months or so I have been learning to trade by my own method. I have managed a run of 11 winning trades, but that seemed to inflate a sense of infalability, and after having broke even on some accounts I then went negative again. I still have some emotional issues to deal with, but my trading rules limit damage when I am not in my "zone".

I started paper trading and having found my feet again, managed to notch up over 3000 euro of virtual profit in paper trades for March.

So I feel sure I can do the business, but I feel stuck between trading, and my day job. I need the day job for regular income, as I do not feel sufficiently confident to go on only on trading. But of course the day job makes it near impossible to trade my intraday method.

Has anyone constructive suggestions please? One idea I has was to find a buddy or 2 to train up on my methods, and then watch the market together for the good entries.

 

[JillyB]

It depends what markets you trade really.

I cut my teeth on the Dow and still trade it now. But as the Dow doesn't close until 9pm UK time it meant I could trade it at home after work, for what is the US afternoon session.

Perhaps you need to look at something like this where the market hours fit outside work hours.

Just a thought - hope it helps.

 

[daxdaytrader]

Thanks Jill,

I trade DAX, as you might assume from my handle. At that time in the evening the moves are not so strong, and I'm usually looking after the kids.

I tried trading Australian S&P futures, but I have found this much harder than DAX, and it trades very late in the evening, when I am tired at the end of the day.

 

[YachtFund]

Hi

Is it worth going back and looking at your automated trading, I presume it was intra-day?

Cheers

YachtFund

 

[daxdaytrader]

Hi,

I can't autotrade as I closed the accounts with the brokers offering the service. After a review of 2004/5 I can see why these autotrade systems struggled. I was using a custom built system and then the fractal finance one. I don't like the idea of big drawdown months, which is why I am learning day trading.

I am now designing my own autotrade system using NeuroShell trader, and after over 7 months of work I have a system that looks promising (see below). Now I want data back to 98 to test the whole thing with and once I sort out my data feed, I'll paper trade it for a while. Then maybe if all goes well I can sell it?

thanks,
John

Trained over 3.5 months of data and then paper traded the next couple. In total 17 winning trades out of 17, and average profit of 10,000 euros per month. The system only uses 3 neurons on the hidden layer to produce a more generalised result.

As you can see the system is spot on in trading buys on the up trend while still catching the larger down moves.