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Thats really cool! I am studying Mechanical Engineering right now, hoping to do a similar thing, but as a second income. I am just starting my programming journey, but I have some ideas for trading methods. If you're up for it I would love to exchange some ideas sometime.
Hello Desmond and tradenator! I’m currently trying to do the same thing as you. I want to automate trades during certain hours of the day using a few indicators to make decisions on entry and exits. I would be interested in your ideas as well as your journey writing code in easy language. I currently use TradeStation. We should start a thread so we can stay in contact on developing ideas.
Unfortunately I can not PM you until I reach 5 public posts. There is an anti spam restriction. So I will quote your quote until I reach 5 posts
What is your biggest problem at the moment in trading?
Mine is to enter the market in the right direction. Of course, I know how to identify a trend or a range. But most of the time I get stopped out or the market sends a reversal signal but then it's a fake signal. I am using a 1200 tick chart and use the ATR(4) to see if there is enough room for a reversal trade. So when the ATR is above 1.5 I give it a shot. Profit Target then is 2x ATR.
For the next week I try to only enter the market on a 50% reversal after a bigger move. And only if there is a reversal price action signal at the 50% level.
What is your biggest problem at the moment in trading? my biggest problem is time commitment at the moment. I’m working full time and Thursday is my only day to trade really. I’m currently working on creating an algorithm that can trade for me that trades in the direction of a supertrend change in direction. This technique seems to work during volitile trading hours and even better in a trending market. I’m new to writing code in easy language for a TradeStation. So my other major problem is simply writing the algo to make the decisions I would make given my strategy. I’m actually trading assets like ES or MES and NQ and MNQ. One day I would like to learn how to read the order flow to scalp a few ticks here and there for active income. I used to use the 144 tick bar chart on YM and the 1500 tick bar chart on ES and looked for supply and demand imbalances. At one time I was making good money using this strategy but It eventually broke down because like every strategy it has its days or even weeks where it doesn’t work.
Hello all,
Finally making my 1st post after lurking for some time. I'm a relatively new trader of futures... several months now. I've dabbled in some stocks over the years as well, but definitely enjoying futures the most. I focus on MES right now. It's tough to find time as I work (physics teacher, former engineer), but I enjoy trying to figure it all out. Still a net loser, but not too much. Goal is to get a side income going that I can enjoy as a fun money source when I retire in a few years. My dream in retirement is to trade for a few hours in the morning and then go play golf or pursue other hobbies in the afternoon!
---Greg
greetings from STL myself. Congratulations on the the Chiefs winning the super bowl just now. Great to see you posting here. I am also a budding futures trader but I've been at it for a while now (2+ years). Also net negative by a lot but I still have hope because I have seen the power of futures. I have had many winning and losing weeks. But never been able to put together consistency. Now I've been trading only sim for day trading but this last year I posted my first winning year in live trading the MES as well. I simply bought 2 contracts MESZ19 at the 2880s last August and held until roughly mid nov. logged my first profit for any year trading. I am currently working on trying to create extra income so my wife won't have to work. I would be glad to talk sometime if you are willing. I live in west county STL. what part of town are you from?
I just joined this group about which I was told a lot of good gold as I start with the future, it is good to be able to count on members as nice as experts that you !
Indeed I have practiced CFDs for two with the XTB platform but it is true that nothing is worth or replaces futures.
Thank you for your welcome and good luck in your trading! Looking forward to reading you.
I have been int trading for over 4 years now. I realised that there are various conflict of interests with websites giving trading platforms free of charge and that too with leverage. Leverage is a like a loan. So the pertinent question to ask is why should anybody give you a loan without any interest and well do they know you. Does a bank give you loan with so little documentation? So guys stay away from leverage (use not more than 7-8 times - if your trading is profitable). If in the learning mode - even less.
Most of the mentors and teachers in trading are either duds or again there is a conflict of interest as to why they are teaching you. If they tell you technichal trading is encough to make money in the long term - RUN away from them. For a long run in the trading business, trading ideas have to come from Fundamental Analysis. Technichal trading can just help you enter better. Exits should be again a combination of Fundamental Analysis & Technical Trading. Intra Day Trading - I am not sure anybody who has been trading for over a year is consistently profitable.
For me once I learnt my fundamentals, I got a clear picture of what is happening in the market. Once the direction is known (through Fundamentals of the market) - then timing can be done with technical trading skills.
I am currently working on trying to create extra income so my wife won't have to work. I would be glad to talk sometime if you are willing. I live in west county STL. what part of town are you from?