Grumpy mcgrumpington here. As you all may know by now I am a grumpy bastard.. Sure, thats what 6 yrs of trading does to you. Did I mention I'm going bald?
Anyway, to avoid a rant. I have started this discussion, because I have a potential opportunity to traders around the world.
Basically, I was looking to gather interest in a potential LIVE trading competition.
The competition would involve 2 months of live trading, on an ecn/stp platform and the prize would be $5000 and the chance to trade on behalf of a firm with a 50/50 split. (Firm employment).
Basically, the rules would be as follows.
Open an account at the designated broker with $1000 USD in it.
Apply your trading strategy, be it an EA, or a hedging method, or scalping or whatever.
Trade it for two months.
The largest percentage gain would receive the prize and given that the method wasn't ''luck'' would be offered a contract to trade funds on behalf of a firm. And the chance to enter the industry at a corporate level.
I am just really looking at interest for now. As I find partners for this offer, the "firm" money on offer will be on behalf of a new Australian Prop trading house specialising in spot FX. One of the first of its kind.
Leave your opinions or vote on the poll, it would be good to hear what you guys have to think.
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Currently accepting managed accounts. 1k micro 15k standard 50k ECN only at fxopen http://takimanaged.blogspot.com for details.
In my opinion 2 months is small to be able to trade for a client.
A minimum of one year live trading with strict money management rules should be the min standard............cos anyone maybe lucky in the first 2 months and blow up the account in the 3rd or fourth month.
Now don't get me wrong; a trader maybe lucky in the 1st year too and blow the account the 2nd year, but after trading successfully for a year, that is unlikely though not impossible.
Its easy to spot trends in equity etc, to see whether people are just getting lucky or actually have everything downpacked. 2-3 months is usually the easiest length to pick equity swings. Providing sufficient trade numbers are done.
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Fx social network - www.currensee.com?lead=ev-mod Sign up, make friends, find out who is trading what when.
Currently accepting managed accounts. 1k micro 15k standard 50k ECN only at fxopen http://takimanaged.blogspot.com for details.
Trust me, 2-3 months in forex is too small and i have seen lots of traders get lucky in the first few months only to crash out after.
a one year live trading without crashing the account in my opinion should be the minimum a client should demand from any fund manager..............besides most fund managers claim that they have been trading for over 4 years, so i still find it amazing they can only provide a demo result which is 100% a NO NO or a 3 month live result, what happened to the remaining 41 months u claimed u had been in the market?
I'm confused about competitions. As far as I can tell, most people are not using robotic traders. Therefore, everything they are doing is "manual", and therefore missing trades, not following all of the rules, etc.
Whereas, my cooltrade robotic traders are spot-on. Every rule gets followed for picking the stocks to watch, opening and closing positions, and automatically calculating profit goals and stop losses, etc.
How to you administer the validity of "manual trading"?
How to you administer the validity of "manual trading"?
Manual trading is the only thing you can call trading. EAs or trading robots can't be trusted in my opinion.
I have seen many examples of where I have stood aside in certain market conditions even though my main strategy says to trade, but where a robot designed to follow my strategy would have traded, and would have lost.
Manual trading is the only thing you can call trading. EAs or trading robots can't be trusted in my opinion.
I have seen many examples of where I have stood aside in certain market conditions even though my main strategy says to trade, but where a robot designed to follow my strategy would have traded, and would have lost.
That just tells me that the ATS (or EA) either has more rules or not enough rules built into it. In other words, you are doing something different in your manual trading than you have programmed the ATS to do.
If you actually wrote down EVERY step/rule that you use to trade and then only looked at that list when you manually traded and DID NOT look at anything else to execute your trades, then the ATS and your manual trading would be (should be) nearly exact. Unless your ATS is having problems and that can or should just be fixed. I would not "throw the baby out with the bathwater".
I run 6 robotic traders (1 on each of 6 computers) and they follow my trading rules to the letter. If I walk out of the house, the traders continue to run.
That being all said. My original concern when I first posted on this thread is that if people are manually trading, and they do not follow the rules to the letter, or visually miss things, or take breaks and miss trades, the output (profit or loss) is really invalid as the same strategy could produce different outputs from person to person.
That just tells me that the ATS (or EA) either has more rules or not enough rules built into it. In other words, you are doing something different in your manual trading than you have programmed the ATS to do.
It's not that the EA would be wrong. It would be following the rules and doing as it's told. However, trading is something that a little organic thinking. Something a script cannot do.
It's not that the EA would be wrong. It would be following the rules and doing as it's told. However, trading is something that a little organic thinking. Something a script cannot do.
So basically, you are saying that you do not follow rules when trading.
Driving takes skill and some people drive better than others, but they still follow rules.
Essentially you're saying that trading stocks is nothing but guesswork and gambling. Wow! Good luck with that.
Calling all LIVE TRADERS..
Hybrid Mode
