I am 69- years-old, a retired person, and have been a manual self-directed fx trader since 2003. Always I have traded manually by watching screens . Unfortunately, because of spending too much time on screens, have developed backpain and can't spend time like before at the monitor.
I use my eyes to provide me the signals. Now that is not possible. But I do feel an EA can do 90% of what my eyes have done so far for profitable trading.
EA, Push/email Notifications
I have to capture all manual processes in an EA as well as use smartphone to trade after receiving data through push and email notifications.
I will be sharing with you my extensive experience .
As a trader/coder you will personally benefit from interacting with a real-time experienced trader who doesn't believe in "Get Rich Quickly" mentality and has trained himself like a professional doctor, experimenting and getting solutions constantly.
It took four years of continuous training for me to get matured and become profitable. Like a doctor I have given four years to get trained. And the results have been tremendous. Any coder who really wants to learn profitable algo trading will get a capsule of my 14 years experience. And a trader will save money which he will have to spend on learning by trial and error method.
For a MT4 coder, there is really no money. More than 100,000 of free indicators are available. It confirms that there is no holy grail. Every trader's brain has a holy grail hidden inside his brain. There is none outside.
Algo-trading Training Free of Cost
This approach is realistic because there is no money in coding MT4 or MT5. FF is really providing a good forum for learners and doers.
A coder, who has minimum of US$5,000 money to invest in a trading account can make part-time income by controlled trading. Strictly no implusive trading. He/she can become a full-trader after 4-5 years by increasing his/her financial resources to invest.
OR
Someone who strictly wants to learn practical Algo trading (without incurring fees/time costs in going for a study course) and uses MT4/MT5 coding route to practise the craft.
They will develop skills of understanding trading logic and use those skills in getting trained in programming languages which institutions or fund manager use.
MT4 is not a recognised platform by any Exchange in the world. Now MT5 is being recognized by some exchanges. So MT5 use will increase. I like MT4 and want to use MT4 for studying chart patterns and MT5 for trading in currency futures with CME approved broker who is using MT5 platform.
My manual trading process is like this:
I try to detect by screen-watching or intuition the patterns .
And then Build database Indicator/EA to confirm the regularity of the pattern.
Construct a simple system. I don't use any indicators/EA for trading purpose. I only trade for Now and future. Past is good only for study of patterns. No lagging indicators for me. Projecting or predicting tools are good for me. But those are not easily available in public domain at a reasonable price.
No hindsight trading or analysis. The pattern recognition job is left to database building tools.
Most of the times I don't forecast or guess direction. As per patterns studied, I will make a fishing net (a window shadow) complete with money management plan and wait with a lot of patience for the trade to be triggered. I don't know how to use spear or fishing rod so I stick to fishing net.
Focus is always on having two profit points: TP and trailing profit stop. Stop Loss is planned linked with Drawdown pattern study. I make a small loss and hit big sometimes which covers my small losses. On an average sufficiently profitable all the time.
Confirmation by way of Database use
1. If pattern requires me to forecast hot volatile timing hours, I will use study tool to build Timing Hours (HH:MM;SS) and from YYYY:MM:grin
database.
2. If pattern requires me to find Breathing Space for the trade to work, I will use study tool to build Drawdown database. High Low price compared with Open Close and establish a ratio and use the ratio to enter Stop Loss and Take Profit.
3. If pattern requires me to Forecast which currency family Majors (eight) will gain or lose today , I will use study tool to build Occurrence Day/Date database.
4. If pattern requires me to forecast direction for Volatile Economic Events, I will use study tool to build Time Duration (restricted to Just 30 days) database to track each symbol's journey from a economic day event in last 30 days and projection for next 30 days. And a story weaved around the past 30 days leading up to today and moving forward for another 30 days. A racy sexy story or a video script or a mind map. It is the most lucrative part of trading and we have to put in time to do this exercise.
I hope I have been helpful . If any body wants to share indicators/EAs coded for studying patterns . Any pattern. I just listed four patterns which have been used by me.
Real traders can share their use of patterns and I am sure everyone has a unique story to tell.
I use my eyes to provide me the signals. Now that is not possible. But I do feel an EA can do 90% of what my eyes have done so far for profitable trading.
EA, Push/email Notifications
I have to capture all manual processes in an EA as well as use smartphone to trade after receiving data through push and email notifications.
I will be sharing with you my extensive experience .
As a trader/coder you will personally benefit from interacting with a real-time experienced trader who doesn't believe in "Get Rich Quickly" mentality and has trained himself like a professional doctor, experimenting and getting solutions constantly.
It took four years of continuous training for me to get matured and become profitable. Like a doctor I have given four years to get trained. And the results have been tremendous. Any coder who really wants to learn profitable algo trading will get a capsule of my 14 years experience. And a trader will save money which he will have to spend on learning by trial and error method.
For a MT4 coder, there is really no money. More than 100,000 of free indicators are available. It confirms that there is no holy grail. Every trader's brain has a holy grail hidden inside his brain. There is none outside.
Algo-trading Training Free of Cost
This approach is realistic because there is no money in coding MT4 or MT5. FF is really providing a good forum for learners and doers.
A coder, who has minimum of US$5,000 money to invest in a trading account can make part-time income by controlled trading. Strictly no implusive trading. He/she can become a full-trader after 4-5 years by increasing his/her financial resources to invest.
OR
Someone who strictly wants to learn practical Algo trading (without incurring fees/time costs in going for a study course) and uses MT4/MT5 coding route to practise the craft.
They will develop skills of understanding trading logic and use those skills in getting trained in programming languages which institutions or fund manager use.
MT4 is not a recognised platform by any Exchange in the world. Now MT5 is being recognized by some exchanges. So MT5 use will increase. I like MT4 and want to use MT4 for studying chart patterns and MT5 for trading in currency futures with CME approved broker who is using MT5 platform.
My manual trading process is like this:
I try to detect by screen-watching or intuition the patterns .
And then Build database Indicator/EA to confirm the regularity of the pattern.
Construct a simple system. I don't use any indicators/EA for trading purpose. I only trade for Now and future. Past is good only for study of patterns. No lagging indicators for me. Projecting or predicting tools are good for me. But those are not easily available in public domain at a reasonable price.
No hindsight trading or analysis. The pattern recognition job is left to database building tools.
Most of the times I don't forecast or guess direction. As per patterns studied, I will make a fishing net (a window shadow) complete with money management plan and wait with a lot of patience for the trade to be triggered. I don't know how to use spear or fishing rod so I stick to fishing net.
Focus is always on having two profit points: TP and trailing profit stop. Stop Loss is planned linked with Drawdown pattern study. I make a small loss and hit big sometimes which covers my small losses. On an average sufficiently profitable all the time.
Confirmation by way of Database use
1. If pattern requires me to forecast hot volatile timing hours, I will use study tool to build Timing Hours (HH:MM;SS) and from YYYY:MM:grin
database.2. If pattern requires me to find Breathing Space for the trade to work, I will use study tool to build Drawdown database. High Low price compared with Open Close and establish a ratio and use the ratio to enter Stop Loss and Take Profit.
3. If pattern requires me to Forecast which currency family Majors (eight) will gain or lose today , I will use study tool to build Occurrence Day/Date database.
4. If pattern requires me to forecast direction for Volatile Economic Events, I will use study tool to build Time Duration (restricted to Just 30 days) database to track each symbol's journey from a economic day event in last 30 days and projection for next 30 days. And a story weaved around the past 30 days leading up to today and moving forward for another 30 days. A racy sexy story or a video script or a mind map. It is the most lucrative part of trading and we have to put in time to do this exercise.
I hope I have been helpful . If any body wants to share indicators/EAs coded for studying patterns . Any pattern. I just listed four patterns which have been used by me.
Real traders can share their use of patterns and I am sure everyone has a unique story to tell.
Practice makes a person perfect
) and magnesium
