Feel like giving up?
- This topic has 29 replies, 7 voices, and was last updated 5 years ago by
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Dont.
I was listening to the “better system trader” podcast and there was a guest talking about “inner motivation” and how many people sort of fall into trading, not because they have always wanted to trade. But rather because they felt like life was missing something, that their lives are not what they dreamed about when they where kids…. and here comes this life changing thing called “Trading”.
Trade your way to riches is the first thought that 9/10 people think when they first realized that you can make money by trading the markets. But if that’s your only motivation, then every trade you do is going to feel like life or death.. Screwing up trades are gonna hurt x10 more than they should. Further more, screwing up a trade means that the money you invested in your own idea, and the time youve spent developing this idea, is wrong. Something like “Youre wrong and you shouldnt even try” is a thought E.V.E.R.Y trader gets sometime in his or hers career. Maybe they just thought it once, when they screwed up their first trade. Some might think it every time they loose a trade. Or maybe just once a year when the mood is low and bad.. However many times you might have felt like this, or thought something similar, just know that this is the breaking point of people. This is when “people” give up and start doing other stuff than trading. If you’re serious about trading, this is the hard part that you have to get thru. This is the “grit” part of it, this is the “work” that you gotta put in. Anyone can scroll thru a forum, anyone can make an algorithm (profitable or not). But if you’re serious about making money in the market, you gotta just keep on pushing like there’s no tomorrow.
Don’t get me wrong, its OK to take breaks. Its OK not to dedicate every minute of your life to this. But if you wanna make serious profits, if you wanna make great systems, then be prepared for the grit. Prepare yourself mentally for the hard time that are 100% sure to come, again and again. Even great pro traders have moments of doubts and fear. Its the determination and grit that separates real traders from wannabes who’s out the game next month when the market hits their account hard!
Keep on grinding guys, don’t give up because things look dark just then and there.
Well said mate 😉
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With the recent big falls in the major indices I feel we may be at one of those times when a lot of people throw up their hands in desperation and give up trading saying ‘I didn’t see that coming’ whereas those who have been putting in the time and effort will be looking at the charts and saying ‘That’s interesting, this is probably a good buying opportunity’.
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big prize for those who can reverse engineer this …
Long term average over standard deviation around a short term mean?
You are sort of warm , lets say cool side of warm . The point im trying to make is what questions do you ask of indice ( what i trade mostly so is my focus) during 2018 that will give insite into whats about to occur next with a degree of probability . I understand this website is about learning to code and it does that job fantastically and Nicholas and the crew are to be commended for doing a great job in that regard . BUT i see little focus on What to code , what is a leading indicator , what is meaningful ? I personally pursue metrics that i use in price action type styles of trading , now what are these metrics is the questions im not seeing asked enough . What parts of price action are important in giving a probability of what happens next , what question can we ask of this data to define this probability . There is only 3 inputs of data we can manipulate . So what are the important aspects of price action , As a discretionary trader what questions do we ask of PA . If we gather a list of these questions we can then methodically design filters that ask these questions in a defined mathematical sense that can be collated to produce an empirical set of rules . Its the horse and cart thing here guys . Plenty here are great coders and present impressive reams of code but is it LOGICAL , i think many get lost in the code and a form of curve fitting when as what i refer to as technical scientists we should be pursuing controlled experiments . The tools developed here are extremely powerful but much of the coding ability here is wasted . Hope some of this helps and i hope this conversation is explored . cheers
Sidenote i am far from the best coder here but have become reasonably competent with the help of this forum so i am eternally grateful for that . My forte before starting this journey was as a accomplished discretionary trader . I know what to measure and that is a distinct advantage in this game , All im trying to do is elicit some thoughts in that direction
Maybe this discussion will gain traction , maybe it will die on the vine . It’s no real loss to me either way but i got something to say if interest is shown . I will start here , when you are building an algo what are some of the primary objectives outside the obvious one , making money . What are some of the variables worth measuring/filtering
“A highly successful trader does nothing but follow patterns that exhibit an inefficiency in the market that presents an exploitable edge and rinses and repeats ad nauseum ”
An algo is nothing but a means to mathematize these patterns . How would we go about that ? What are the variables we can measure for starters ? once again outside the obvious x and y axis
Lets see where this leads
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On the subject of patterns – every candle is a pattern but most people limit themselves to just looking at one candle – a daily one or an hourly one etc. A good way to train your brain that a candle is just a snapshot of a moment in time is to create a set of candles for a different period. In this image there is the standard daily candle and then underneath candles that represent the last 6 days (a week), 24 days (a month approx) and 72 days (3 months approx). It is like having a weekly and monthly and three monthly candle that is updated daily or even on the fly for the latest candle.
A standard weekly candle would close at the end of the week and just give us a snapshot of how the market was at that moment in time whereas this type of candle gives a true feeling for market sentiment at a glance.
I give up searching for those patters you guys are talking about… I do not believe that if you find one pattern then you trade ad nauseum (I create an code for trade double bottoms or double tops, one of the most reliable Patterns and they are not!)
Then I realize that this is what exactly artificial intelligence is about: look in data, search for a pattern, and learn constantly
As you can imagine, prorealtime is not the proper language to build an AI. Then I have two paths:
- Either I learn another programing language, open an account in a broker and learn to use the Interface with the new lenguage, feel confident with the adgorithmic trading with this new methodology and finally learn to write my own code of artificial intelligence with all the libraries that are available for it.
- Or continue with Prorealcode, and write line by line my own IA and being consequent with all the drawbacks we know.
I choose to write my AI code in PRT… and I post it here every time I have a Progress, hoping that some of you can help me with this huge task.
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