Hi! (Introducing myself)

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Viewing 7 posts - 1 through 7 (of 7 total)
  • 02/21/2017 at 3:48 PM #25927
    Daniel Rönnqvist

    Hi!

    I’m 17 years old from Sweden. Started investing in stocks almost exactly one year ago and made great profit, but after I’ve closed my last position in June 2016 I’ve stopped. I had no loses and was up 25% on my account but I couldn’t really give myself credit for it. I didn’t feel like I knew enough. I don’t like to use the world luck, but yeah, I was kind of lucky. After that I started to look into day trading and especially price action trading on a 5min chart. Been studying Al Brooks book (if you know him) and have also been trading on a sim account. Haven’t touched my stock-account at all.

    But since I’m under 18 years old it isn’t possible for me to start trading yet, which at the end of the day is good, it gives me time to learn and practice. Will turn 18 this August and will then get a live account. But the last weeks I’ve also been looking into automatic trading since I had some ideas on how to put down some of my strategies that I’ve learnt/come up with  on a automatic trading robot.

    Guess that most of you’ve been manually trading before you started with programming. Why did you change? What are the pros (and cons) of automatic trading towards manually trading? I guess for me, one of the bigger pros is that it doesn’t take just as much time as manually trading, it’s more preparatory work, I’ve got a lot in school and I do a lot of training (athlete) so that would probably work out better.

    Happy trading!

    //Daniel

     

    02/21/2017 at 7:35 PM #25967
    Wing

    Hello and welcome! I am Swedish as well.

    You are right that youth is at your advantage. The biggest mistake made is to ignore paper-trading and research.

    Automatic systems (in for example the PRT platform) can only trade based on technicals, and not all types of technicals either. In my manual trading, I trade based on fundamental news and different sentiments. This is actually less time-consuming than developing trading systems. However, the risk is more unknown. It is also more stressful for me.

    Developing good and robust systems take a long time, since it is a skill with many aspects. You need to understand math, programming, logic, risk, the markets and much more. Being good at manual trading does not automatically translate into making good systems. It’s a form of research that requires the right approaches. The strengths that have helped me have been my analytic inclination, previous programming experience, persistence and a will to ‘beat the system’. The edges are out there but you can’t expect to find them without learning from many mistakes first. Out of 50 systems/ideas I try, maybe three are worth developing further, and only one actually goes live.

     

    02/23/2017 at 5:33 PM #26193
    Nicolas

    Hi Daniel, welcome here. Trading is a long path of hard work and disillusion for sure, but it’s worth it if you can find your ‘edge’ and be happy with it.

    03/25/2017 at 9:02 PM #29854
    AutoStrategist

    Hi Daniel, Just read your profile and wanted to say that I also trade price action (still working on getting it right) and am a big fan of Al Brooks and am working through his book Trading Price Action – Trading Ranges.  Got to say that you might think (‘it doesn’t take just as much time as manually trading’) it won’t but it will, you will be backtesting for hours on end 🙁

     

    1 user thanked author for this post.
    avatar Daniel Rönnqvist
    05/14/2017 at 10:04 PM #35517
    Daniel Rönnqvist

    Yeah, I´ve understood that now. Was (and still am) a newbie at this but it definitely takes time. Al Brooks is good, but not easy to understand… Have taken a break reading his book, not sure right now how I would implement his strategies in a good way. Is right now just trying to get the hang of ProRealTime coding, since I have no knowledge whatsoever in coding =)

    05/18/2017 at 5:43 PM #36016
    AutoStrategist

    This dude has a decent YouTube channel, he also has a free price action Ebook you can download from his website:

    https://www.tradingwithrayner.com/

    05/18/2017 at 6:55 PM #36021
    GraHal

    Hi Daniel, welcome aboard! Wish I was young again! 🙂

    I have manual traded for years, then spent an inordinate amount of time trying to get an Auto-System to match my manual trading performance. Learnt a lot in the process, glad I did it / still am, but largely I’m back on manual trading! 🙂

    I’m looking forward to lots of niggles being sorted then I might move forward with Auto-Strategies. PRT fits all my manual trading needs and I first found PRT googling for auto-drawn trend lines on Charts.

    Thanks AutoStrategist … signed up for book (book on link is from Rayner Tao??)  and subscribed to Al Brooks youtube channel.

    If only we had years left in life to benefit from all this good intel! Only teasing, I’m fighting fit (I think!? Hope :))

    GraHal
    PS I read AS post again and he is not referring to Al Brooks … that what I get for having one eye on the TV while writing this! 🙂

     

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