How to make a living with trading? | Page 16 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Do you make a living trading small timeframes? 58 replies

Do people actually make a living off of trading? 38 replies

Living in China, trading for a living 18 replies

(can) small accounts make a living ?! 611 replies

How can I make a living trading forex? 25 replies

Attachments: How to make a living with trading?
Exit Attachments

How to make a living with trading?

  • #301
  • Mar 28, 2017 3:32pm Mar 28, 2017 3:32pm
Quoting dukas_trader
{quote} how will be the trades structure? in what currency, how long is the average holding time, what trading amount, what fees (spread, commission, rollover) is used in what trading time, how many trades per year, trades, was there bigger wins in news or weekend gaps? my long term trading systems i can use in 2003 too, but my scalping experts i cant, they would have 5 million win from a 10.000 account in the first year because of the spreads and real it was maybe 20-100k (depends from the years). so extrem difference.

EURUSD. Most trades completed same day. Spread and rollover as per IG.com current fees, the figures also include 1 pip guaranteed stop premium, actually the results are slightly understated because they don't account for gaps over the target points, which will occasional happen, not significant I ran the gaps modification to the testing code on 2016 and it made only £3 difference All trades have a 1:1 fixed stop and target
I live entirely from the growth of my personal trading account
  • #302
  • Mar 28, 2017 6:36pm Mar 28, 2017 6:36pm
Quoting FX-Petra
I seldom post anymore. I will give this one a try. Hope it helps. I do not say that this will be true for everyone. It is true for me. My big turning point was when I realized that I would never be able to take 5K and turn in into 100k in 1 or 2 years. I came to understand that 5% per month was a fabulous return that few could produce over the long term. So, what to do about my bankroll? I took a 2 step approach: 1) Continue trading part time and grow my account at a safe, sustainable rate. 2) Work my butt off to earn extra income to increase my...
Great post, Petra. Thanks for adding your usual dose of reality. Glad to hear you’re doing well!
  • #303
  • Mar 29, 2017 12:54am Mar 29, 2017 12:54am
Quoting guybaker
{quote} This for my latest system is tested back to 2003, the results look remarkably consistent {image}
Hey, what history data you use for backtesting? Where do you get it? Is it reliable?
  • #304
  • Mar 29, 2017 3:32am Mar 29, 2017 3:32am
Quoting PiranoTrader
{quote} Hey, what history data you use for backtesting? Where do you get it? Is it reliable?

Hi I use this https://www.dukascopy.com/swiss/engl...ch/historical/ from Dukas Copy. Yes it seems very good. Goes back to 2003.
I live entirely from the growth of my personal trading account
  • #305
  • Mar 29, 2017 7:00am Mar 29, 2017 7:00am
Quoting guybaker
{quote} Hi I use this https://www.dukascopy.com/swiss/engl...ch/historical/ from Dukas Copy. Yes it seems very good. Goes back to 2003.
Me too Good quality and free.
  • #306
  • Mar 29, 2017 9:23am Mar 29, 2017 9:23am
Quoting guybaker
{quote} Hi I use this https://www.dukascopy.com/swiss/engl...ch/historical/ from Dukas Copy. Yes it seems very good. Goes back to 2003.
Tick Data Suite will download and convert the files and make them available in the backtester. Which is super cool.
Demo only
  • #307
  • Mar 29, 2017 9:26am Mar 29, 2017 9:26am
Quoting bg_sunny
{quote} Tick Data Suite will download and convert the files and make them available in the backtester. Which is super cool.
Btw, they TrueFX is also available for the majors and some minors. From2009 on. So, it's nice to have a second Data set.
Demo only
  • #308
  • Mar 29, 2017 9:32am Mar 29, 2017 9:32am
Quoting bg_sunny
{quote} Tick Data Suite will download and convert the files and make them available in the backtester. Which is super cool.
Cool! I have my own code to convert between timescales.
I live entirely from the growth of my personal trading account
  • #309
  • Mar 29, 2017 11:19am Mar 29, 2017 11:19am
Quoting guybaker
{quote} Cool! I have my own code to convert between timescales.
You're the pro
Not knowing how to code, I'm happy to have this versatile tool, where I can adjust the spread by a multiplier, manage timezones and DST settings, simulate slippage etc. For that, I believe the price is fair that TDS charges.
Demo only
  • #310
  • Mar 29, 2017 11:47am Mar 29, 2017 11:47am
Quoting bg_sunny
{quote} You're the pro Not knowing how to code, I'm happy to have this versatile tool, where I can adjust the spread by a multiplier, manage timezones and DST settings, simulate slippage etc. For that, I believe the price is fair that TDS charges.

Yeah understood, the reason I like my own code in everything but the very lowest levels is because then I have complete control and visibility of what is going on
I live entirely from the growth of my personal trading account
  • #311
  • Mar 29, 2017 12:33pm Mar 29, 2017 12:33pm
Quoting guybaker
{quote} EURUSD. Most trades completed same day. Spread and rollover as per IG.com current fees, the figures also include 1 pip guaranteed stop premium, actually the results are slightly understated because they don't account for gaps over the target points, which will occasional happen, not significant I ran the gaps modification to the testing code on 2016 and it made only 3 difference All trades have a 1:1 fixed stop and target
hey guybaker maybe i get it wrong but what do you mean by 1 pip garanteed stop ? do you mean 1 pip stop loss ? is it also garanteed during news ?
  • #312
  • Mar 29, 2017 12:59pm Mar 29, 2017 12:59pm
Quoting metta87
{quote} hey guybaker maybe i get it wrong but what do you mean by 1 pip garanteed stop ? do you mean 1 pip stop loss ? is it also garanteed during news ?

My broker (IG.com) offers a stop that cannot slip whatever the market conditions, unlike an ordinary stop, they charge an additional 1 pip spread if the stop is hit.
I live entirely from the growth of my personal trading account
  • #313
  • Mar 29, 2017 1:10pm Mar 29, 2017 1:10pm
Quoting guybaker
{quote} My broker (IG.com) offers a stop that cannot slip whatever the market conditions, unlike an ordinary stop, they charge an additional 1 pip spread if the stop is hit.
  • #314
  • Mar 29, 2017 1:31pm Mar 29, 2017 1:31pm
anyone tested with an ea time based targeting?

in other words letting the winners run.

simply take a trade based on sweet spots or range bars, or candle breaks or whatever floats your boat....and put a stop below the range... do not close the trade except/ unless after a specified period of time.

for example a 10 pip range entry, using sweet spots indicator, if it survives and does not get stopped out.... do not close the trade(s) that are surviving, if it is winning until the end of the week, 3 hours before Friday close

or whatever else your brilliant minds can think up...but the point being do not close the trades that survived until a specified period of time is met.

whatever that be: 4 hours or 4 days or 4 weeks is up to you to test... entry every 5 pips close every 30 minutes...whatever

I have not tested this except in my dreams lol but... am curious to see if there is any merit to the idea....please advise if you have tested via an ea time based targeting.

thanks fellas
  • #315
  • Edited 3:26pm Mar 29, 2017 3:08pm | Edited 3:26pm
Quoting dagoods
anyone tested with an ea time based targeting? in other words letting the winners run. simply take a trade based on sweet spots or range bars, or candle breaks or whatever floats your boat....and put a stop below the range... do not close the trade except/ unless after a specified period of time. for example a 10 pip range entry, using sweet spots indicator, if it survives and does not get stopped out.... do not close the trade(s) that are surviving, if it is winning until the end of the week, 3 hours before Friday close or whatever else your brilliant...
not the answer you are looking for (excuse the Johnny Walker in my writing. It's close to 10pm after all ), but a similar concept I have seen and that could be coded...maybe...

This guy here does not have a time limit specifically how long he will hold a trade, but for the expiry. In short, let's say you get a spike down, like market is tanking into a technical level (sry, it all gets very discretionary now) and then rebouncing. Now for example you place a 25 pip block of pending orders which is 35 pips below current price. so you buy everything from price minus 35 till price minus 60 pips (and they would all have a "master stop" say at price minus 65 pips)
The trick though is, that it will expire after 2h or so. Because the idea is to catch the proverbial falling knife, but only if it's falling. If it's drifting down and reaches that price level in say 6 hours and slowly candle by candle it drifts down, then well, the level might not hold.
It's a bit in line with the idea, that when price shoots in a parabolic way into a level, then the level is more likely to hold, then if it drifts into it.

Issues for coding and testing:

- What's a "level"?
- How fast is "fast"? i.e. how volatile can it get?
- How do you measure how wide (or how deep) the order bank has to be?
- and probably a whole other bunch of sh*t that discretionary traders claim to "just see, because, well I can see it".

Anyway, time to finish that frozen Lasagna and go to bed.

Maybe that gave some food for thought.

Cheers and good night guys.
Demo only
  • #316
  • Mar 30, 2017 9:08am Mar 30, 2017 9:08am
Quoting PiranoTrader
{quote} Exactly, I also saw that. Too much of their restrictions messes up my strategy completely so it is impossible for me to prove it. Thats the case in more or less every similar site i've seen. I also don't understand the logic of those kind of "investors". Let say that I pass the trial on one of those sites and they give me 50k to manage. At the same time they give me (for example) 20% (10k) maximum drawdown restriction and max leverage 1:2. Ok, obviously they are willing to take a risk with me, but not more than 10k right? Why don't they...
Was about to suggest you darwinia, best of luck with your project!
"Know thyself."
  • #317
  • Mar 31, 2017 12:30am Mar 31, 2017 12:30am
Quoting Artcool
All strategies, whether manual or fundamental, can be replicated by a bot. If a trader doesn't try to code his strategy, that could be : He doesn't know how to code and doesn't feel comfortable in giving the rules to some coder He is afraid to see that his strategy is not profitable in the long term which will destroy his confidence and bring him back to step 0. He is bored in his life and unconsciously wants to keep himself busy every day. His ego wants him to believe that he has some special power that will keep him out of bad trades.
Or the strategy is not purely technical and takes into account developing news and fundamentals. I sometimes use a strategy of bouncing off certain MA's but it depends on the day and the news that has come out previously (or is about to). Each day I size up wether this particular strategy is suitable for that particular currency. Also I will watch price action, for example if I see very strong movements towards the MA but see a better support level a little below I may decide that is the better entry point.
Discretion rules.
  • #318
  • Mar 31, 2017 1:38am Mar 31, 2017 1:38am
Quoting miau1
{quote} Was about to suggest you darwinia, best of luck with your project!

For now i'm super excited about them. Do you have any own experience with them?

I already linked my current account with them to see/test what ranking I get. I'm on their "rookie" level overall, but that is just because of "experience" (one of the attributes) so it is just a matter of time to improve to next levels. They also have "timing" attribute (buy and close timing) which correlates heavily with strategy long term profitability (as they say in their tutorial video). In that attribute my average score is 9.6 out of 10, which is 1st place overall

I also opened a demo account with them to test how market behaves compared to my current broker. I don't expect it to be very different. So if everything goes as planned I will join their DarwiniaIA ranking next month, in May.

For now this seems to be the most realistic opportunity to get some trading funds directly from them and also to get noticed by possible investors. Because I don't believe in those "pay me first for trial, then we'll decide" type of investors. Also, it is much much harder to get on their top ranking list than any of other trials. You need consistency of good trading results over longer period (at least 1 year), so no "run'n gun" and "sudden death" types of strategies can rank there.

They definetly have the most sophisticated and most realistic ranking system i'we seen. It is quite complex at first but at the end you can compare different strategies like apples to apples thru their "investable attributes". Which is priceless info for investors and for trader also.
  • #319
  • Mar 31, 2017 1:48am Mar 31, 2017 1:48am
Quoting PiranoTrader
{quote} For now i'm super excited about them. Do you have any own experience with them? I already linked my current account with them to see/test what ranking I get. I'm on their "rookie" level overall, but that is just because of "experience" (one of the attributes) so it is just a matter of time to improve to next levels. They also have "timing" attribute (buy and close timing) which correlates heavily with strategy long term profitability (as they say in their tutorial video). In that attribute my average score is 9.6 out of 10, which is 1st...

Hi! Do they have an API?
I live entirely from the growth of my personal trading account
  • #320
  • Mar 31, 2017 2:38am Mar 31, 2017 2:38am
Quoting Artcool
All strategies, whether manual or fundamental, can be replicated by a bot. If a trader doesn't try to code his strategy, that could be : He doesn't know how to code and doesn't feel comfortable in giving the rules to some coder He is afraid to see that his strategy is not profitable in the long term which will destroy his confidence and bring him back to step 0. He is bored in his life and unconsciously wants to keep himself busy every day. His ego wants him to believe that he has some special power that will keep him out of bad trades.
I suppose it depends on your technique. I observe many head fakes which a bot would not have a clue about. It would likely open the trade and lose while additionally incurring more spread costs. Based on my analysis, I have to disagree with your opinion. Sorry. Not only can a bot not determine optimal trades, it most likely also cannot determine if the market is ranging or trending, reaction of emotional traders, reaction of greedy traders, market maker behavior, traders guessing on changes in market direction, etc. I normally see head fakes and consolidation areas, but I honestly believe a trading bot will not. A bot is not capable of hesitating on head fakes to determine their influence.
You cannot be extraordinary by being normal
1 trader viewing now