To use chat, please login.
Back to contacts

Winsor's Five Trading EAs in Real Time

Chikot
Jun 05 2011 at 11:59
2299 posts
I think Forex is too much of a good thing. 24 hours a day market lives no time for personal life. There must be trading time and resting family time. I see that those who involved in Forex trading are watching market continuously. I wonder what sense of this? The point is to trade to live not live to trade.

winsor (winsor)
Jun 05 2011 at 16:47
303 posts

Chikot posted:
    I think Forex is too much of a good thing. 24 hours a day market lives no time for personal life. There must be trading time and resting family time. I see that those who involved in Forex trading are watching market continuously. I wonder what sense of this? The point is to trade to live not live to trade.


It is the thrill of the trade, the addiction of wanting to know what is going to happen next in the market. It is similar to reading a good novel and you don't want to put it down. I have been there; hence, I can relate. Once you realize that quality of life is important and that you can never predict the market, hopefully you can change and adopt other trading tools such as EAs. Some people will never give up as the adrenaline rush is to much to pass over.

winsor (winsor)
Jun 05 2011 at 17:00
303 posts

SS_Gemini_1A posted:
    
. But I don't agree with the 'all inclusive blanket statement' that ALL 'Good traders are bad programmers and good programmers are bad traders.'
    You yourself an example of an exception to this 'rule' and that it is confirmation that it IS possible to do both are you not?
Their is wisdom and validity is such an approach. As with many things in life, if one cannot obtain objectivity and see things clearly as they truly are as opposed to seeing only what we want to see and our delusions; then we are lost to human frailties such as desire and greed and lack freedom required to act accordingly.
To be successful with this, One must have intimate knowledge of particulars by examining the trees and plants and animals in the forest very closely and understanding them clearly. But if one cannot transcend this and eventually include the ability to see the entire forest as well, then success with this is unlikely.
Great chess and go masters don't 'calculate out all of the odds' of all the possibilities: They see it as flows and tides and different sweeping tendencies of lines of forces.
Great military leaders know and understand very well what is if to be a common soldier of lower rank. But they must take in the larger view and be able to read and understand all of the forces at work and the possibilities and potentials and pitfalls of the current situation.
To be a successful long term ForEx (technical) trader, is this not the same?


SS_Gemini_1A, I totally agree with you. In general, good traders are bad programmers and good programmers are bad traders. It is all about statistical probability similar to winning the lottery. Millions would buy tickets; however, very few will hit the jackpot. This does not discourage people from buy tickets; however, the odds are not in their favor. My only advice is to lower your expectation about the forex market i.e. only focus on obtaining 35% per year and the money will come. If you are focusing on higher returns, you will take higher risk. With higher risk, you are liking to burn your account before you can reach the $1,000,000 goal.

Chikot
Jun 05 2011 at 20:54
2299 posts
I would actually prefer to read good book :)
Anyway, EA is not a panacea and if trading is limited to exchange based session like oil or stockjs it is fine but when trading takes over life it is not.
Good trader should have no emotions while trading. Those who experience adrenalin rush are just gamblers or addicts.


winsor posted:
    
Chikot posted:
    I think Forex is too much of a good thing. 24 hours a day market lives no time for personal life. There must be trading time and resting family time. I see that those who involved in Forex trading are watching market continuously. I wonder what sense of this? The point is to trade to live not live to trade.


It is the thrill of the trade, the addiction of wanting to know what is going to happen next in the market. It is similar to reading a good novel and you don't want to put it down. I have been there; hence, I can relate. Once you realize that quality of life is important and that you can never predict the market, hopefully you can change and adopt other trading tools such as EAs. Some people will never give up as the adrenaline rush is to much to pass over.

uda7805 (uda7805)
Jun 05 2011 at 21:18
103 posts

Chikot posted:
    I think Forex is too much of a good thing. 24 hours a day market lives no time for personal life. There must be trading time and resting family time. I see that those who involved in Forex trading are watching market continuously. I wonder what sense of this? The point is to trade to live not live to trade.


Chikot,
I'm doing fx as part time job, at home. don't monitor so much as we will influence by our emotion and we tend to change the auto trade settings/parameter, open/close the trade.
maybe an hour or two and that's it. as long as we have margin > 85%, no worry.
Saturday and Sunday totally off. Time to spend the time with wife and kids.

Hantam la labuuu. Harap rezeki kat FX nih...
Chikot
Jun 05 2011 at 22:39
2299 posts
Uda, that's good. I myself prefer to trade something that is mostly exchange based so that I trade every day during some exchange open hours. Thus volatility and opportunities are abundant and I spend evenings and weekends with my family.

DougRH4x (DougRH4x)
Jun 06 2011 at 00:42
18 posts

winsor posted:
    
SS_Gemini_1A posted:
    
. But I don't agree with the 'all inclusive blanket statement' that ALL 'Good traders are bad programmers and good programmers are bad traders.'
    You yourself an example of an exception to this 'rule' and that it is confirmation that it IS possible to do both are you not?
Their is wisdom and validity is such an approach. As with many things in life, if one cannot obtain objectivity and see things clearly as they truly are as opposed to seeing only what we want to see and our delusions; then we are lost to human frailties such as desire and greed and lack freedom required to act accordingly.
To be successful with this, One must have intimate knowledge of particulars by examining the trees and plants and animals in the forest very closely and understanding them clearly. But if one cannot transcend this and eventually include the ability to see the entire forest as well, then success with this is unlikely.
Great chess and go masters don't 'calculate out all of the odds' of all the possibilities: They see it as flows and tides and different sweeping tendencies of lines of forces.
Great military leaders know and understand very well what is if to be a common soldier of lower rank. But they must take in the larger view and be able to read and understand all of the forces at work and the possibilities and potentials and pitfalls of the current situation.
To be a successful long term ForEx (technical) trader, is this not the same?


SS_Gemini_1A, I totally agree with you. In general, good traders are bad programmers and good programmers are bad traders. It is all about statistical probability similar to winning the lottery. Millions would buy tickets; however, very few will hit the jackpot. This does not discourage people from buy tickets; however, the odds are not in their favor. My only advice is to lower your expectation about the forex market i.e. only focus on obtaining 35% per year and the money will come. If you are focusing on higher returns, you will take higher risk. With higher risk, you are liking to burn your account before you can reach the $1,000,000 goal.


1 - First things first: If one cannot and does not no how trade profitably on the ForEx, then it matters not if it is manual or automated.
2 - With so much hype about presenting the ForEx as 'Instant/OverNight wealth, it is appealing unrealistic baser desires and making for unrealistic expectations. A fairly consistent 35% per year is a very good ongoing profit. Especially with interest rates are as they are/
  Long term successful traders are VERY conservative. Some NEVER have more than a couple of percent in play at any one time at only 10-1 leverage. Without good Money Management and self control and discipline, it doesn't matter how much one makes. be it manual or automated One will lose over the long haul without these. Like the lottery, if one does not play they cannot win. Thus I occasionally but some tickets, especially if there is a large pot. But regardless of this, I never spend more than $10 maybe twice a month at the most. Thus like the ForEx, I NEVER put more than a (very reasonable) amount of money in that I can not afford to lose.

As I said before, if one has tendencies to gamble, then turn around and run away from this as fast as one can and NEVER look back. Though such people can still benefit and profit by the Forex by using 'second party agents' proven methods and sources such as yourself that approach and operate it as a successful business and not a game of chance.
ForEx trading is that 'high risk/reward' 5% ~ 10% at the top of ones investments pyramid. Though in most cases, at least unlike futures / commodities one cannot lose more than they have in their account. But it is still in the category of 'Don't put money into it that one can't afford to lose'.

Regards to all,
  DougRH

(8 >) Live Long and Prosper (< 8)
winsor (winsor)
Jun 08 2011 at 15:35
303 posts
Chikot
Jun 08 2011 at 21:33
2299 posts
I agree too. what sense to be able to code when not being able to trade.

ForexRefuge (ForexRefuge)
Jun 10 2011 at 12:08
92 posts
There are many angles to forex trading.

It is one thing to develop a good strategy and another to trade with discipline.Over the years,i have come to trust my trading strategy to a very great extentand i am confident to make profits 70% of the time but the problem is trading with discipline and that is the area of greed and adherence to exit/entry rules.

I could make 100% on investment in less than a month but may lose so much afterwards due to greed.This is why i decided to code my trading method and allow the EA to do the work with a very minimal risk exposure.

Another area i lack discipline is following my own trading rules and this also deters me from making consistent profits.

So in essence,i will advice every trader who finds it hard to trade with discipline to code his/her trusted trading method but if there is none then settle for a good EA and stop wasting time and money on this business.

Over the years,i have cometo realise that it is almost impossible to succeed in this business trading manually.

You are bound to be ruled by emotions such as greed(Problem perculiar to professionals) or fear(for newbies/non professionals).

Success in Forex Trading is a marathon and not a sprint.
Please login to comment .