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There is no such thing as one system that works on every asset. Every asset trades different and needs different ways of trading.
Dreaming of making constant money from all markets is nothing but a retail traders dream, an unrealistic one that is.
There is not one professional trader out there that trades all markets. Definitely not active. Professional traders trade one or 2 different asset classes or a basket of stocks. There is no way to actively monitor the entire market.
Even for algorithms that is nearly impossible, algo firms have maybe a dozen different algos at work at once with millions in maintenance costs every year.
Retailers cannot compete with that, not on the long run. Best is to keep things simple and to focus on an instrument or 2.
Can you help answer these questions from other members on NexusFi?
Sir, your opinion is totally wrong. Instead of quoting all the tired, well accepted BS that is currently available on the internet, read what I have said, and try to change your mind into what is possible rather than what you have been told by all these big great institutional traders and gurus who couldn’t actually trade themselves out of a paper bag if they had to. So what you state is absolutely untrue and false. I couldn’t really care which so called professional traders have said that all markets cannot be traded with one algorithm...I’m telling you, yes they can. The same tools for each different market is totally possible...read what I said...adaptive...adaptive...adaptive tools. Instead of just trying to find faults in what I’ve said, maybe think like 0.1% of successful traders do, and you will see that, not only is it possible, but probable.
Your thinking is like the 95% of traders who lose (remember I was in that category for many years) until I found a way to go totally against everything you ever read, are told and indoctrinated with.
If you choose to read everything I wrote through a lens of criticism rather than education, your loss. I have been on futures.io for years and I usually don’t have much time to read and contribute, but this topic piqued my interest and I thought I would break all the commonly held crap from all sources, that simply are not true. Institutional traders and funds with billions mean nothing in my world because I am beating them every day, all day, and in any market I choose to trade. Stop being scared into and limited by what ever you read or have been told. It simply isn’t true!!!
I do agree with TraderDoc007. You can tell he is speaking from the depths of experience and not theoretical intellectualism.
There is a Holy Grail but your one mindedness is limiting your perception. The Holly Grail is a combination of a trading strategies, personal psychology and the market. It takes time to develop it, just like it takes time to be a good surgeon, engineer, etc.
It is also a never ending quest because you keep finding optimal ways to deploy it but in an evolutionary way. Not everyone is going to stay the course but if you haven't found it yet it doesn't mean it doesn't exist, after all it'a quest.
I don't really think you could give it away because it is yours and it belongs to you. Even when Richard Dennis gave his system away to the turtles not all of them were successful. I think he was being very generous but he also knew that only the few that could embrace his psychology could make it work and even if they did as it became better understood it's edge eroded.
I am with Jim Simons on this. History has not been kind to trading strategies that have been made public and it is not a coincidence that the most successful hedge fund of all time is also the most secretive. Finally before I get push back about the difference between institutional or retail, it's only one of scale. The principles are the same in that you need to find trading signals with +ve expected value but the big difference is in the detail. Personally I think there's lots of trading signals with +ve expected value but the edges change over time. Secondly finding something that works for you is hard work. I cannot emphasis this enough. I am talking Bill Gates/Steve Jobs type work ethic. You are not going to make a living out of the market by treating it in a cavalier fashion. For all of those here on the quest keep working hard on it and it will come, don't know when don't know where but it will come on some sunny day
Finally some quotes to encourage those searching.
Richard Dennis:
I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybody can make up a list of rules that are 80 percent as good as what we taught people. What they couldn’t do is give them the confidence to stick to those rules even when things are going bad.
Charles Faulkner
People need to have a perceptual filter that matches the way they think.
The appropriate perceptual filter for a trader has more to do with how well it fits a trader's mental strategy,
his mode of thinking and decision making, than how well it accounts for market activity.
When a person gets to know any perceptual filter deeply, it helps develop his or her intuition.
There's no substitute for experience.
The people that I know who are the most successful at trading are passionate about it.*
They fulfill what I think is the first requirement: developing intuitions about something they*care about deeply, in this case, trading...
They develop a deep knowledge of whatever*form of analysis they use.
Out of that passion and knowledge, their trading ideas, insights,*and intuitions emerge
The fact that you see your opinion as the only truth is all i need to know ...
You might think my thinking is like 95% of the traders who lose, luckily i know for a fact that i am not one of them. In fact, i would be thinking like 95% of the traders who lose IF i where to accept your testimony here as the one and only truth with 0 evidence to back it up.
I know several math geniuses myself who work and used to work as coders for large firms who mainly trade through complex and self learning algorithms. My reply is based on what they told me after i mailed them your post. They are not some so called gurus or YouTube fakes milking noobs.
So, if you have created one algorithm that can trade all markets profitable, good on you. You are probably the only person to have done so and you should be a billionaire in no time. In fact, shouldn't you already be one?
A profitable system or algorithm isn't the same as a holy grail ...
You seem to be very intimidated or in awe of titles and individuals who tell you what is possible and limit your potential. You believe these “math geniuses who work and used to work as coders for large firms who mainly trade through complex algorithms”. Interestingly enough my algorithm is extremely simple and not based on complex algorithms so that might just be where all retail traders should look. All I can say is open your mind and stop trying to find fault with every individual who might try and lead you to the holy grail!
You do realize you are "just one of those gurus who couldn’t actually trade themselves out of a paper bag if they had to" as long as you don't post any proof, right?
The fact that you claim to have created a holy grail that isn't even complex coding and is beating the biggest geniuses on the planet spending millions and millions a year to just keep their algorithms running is just to funny.
You might think that i am intimidated by those guy's that i know personally, but you are doing nothing different: "telling me what is possible". The only difference is is that there is plenty of information available for everyone to read on the biggest financial institutions of the world and their running costs, employees, returns, ... Plenty of information about how things are done in the industry. There is nothing about you anywhere and yet you are the one who beat them all.
You have your opinion. They have theirs. Only you are not trying to impose yours on someone else - who seems to have a superiority complex of some sort.
Once again, take your blinders off and stop telling me all the crap you’ve read on the internet and what people have told you. It is all totally irrelevant. The only costs I pay are my electricity costs, brokers fees and exchange fees. That in and of itself is a huge edge that these large know it all math geniuses that you know and large institutions cannot compete with. I know how annoyed you must be feeling because you believe all the hype you read and are told, so when someone else breaks that bubble and tells you differently, you simply go into defensive mode. I will say for the 3rd time, open your mind and think laterally and don’t keep on quoting all those who you believe are so much better and who have deep pockets. You might just stumble onto something really big.
As for proof - sure I’ll show you. I will even go so far as to show you proof in whichever market you want. Let me know which markets you want proof in!
Keyword regarding #1 above (with which I wholeheartedly agree) is identifying market context - I've yet to find indicators or strategies (that are publicly available) that account for that and are adaptable to a decent enough degree to trust with automation.
To me THAT'S always been the "holy grail", and no, I've never had expectations that I'd find it somewhere but would have to build it myself (it's taken me a LONG time but getting very close).