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The time required to produce successive Forex strategy
Mar 09, 2015 at 11:40
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7 Replies
Member Since Jun 03, 2010
675 posts
Mar 09, 2015 at 11:40
I invite you to read the most recent article. Let me know in the comments, what is your opinion!
https://www.linkedin.com/pulse/time-required-produce-successive-forex-strategy-adrian-matusiak
https://www.linkedin.com/pulse/time-required-produce-successive-forex-strategy-adrian-matusiak
PAMM MANAGER // Professional Fund Manager
Mar 09, 2015 at 12:10
Your life is yours
Member Since Jun 03, 2010
675 posts
Mar 09, 2015 at 15:11
otprofit posted:
http://www.myfxbook.com/reviews/brokers/liteforex/6,1#?pt=2&p=6&ts=51&o=6
What does it have to article?
PAMM MANAGER // Professional Fund Manager
Member Since Jun 03, 2010
675 posts
Mar 09, 2015 at 20:48
Refreshing
PAMM MANAGER // Professional Fund Manager
Member Since Jun 03, 2010
675 posts
Mar 10, 2015 at 07:15
Refreshing. Any comments?
PAMM MANAGER // Professional Fund Manager
Mar 11, 2015 at 16:11
Hi Adrian,
Technically speaking. This depends on the type of trader that you are. For swing/trend trading it may take longer for one to become a moderately successful trader.
Now, that is not to say that there are some people that are gifted when it comes to trading, and hence it may take less time to become successful.
Their is a going rate in the industry that you should have 5000+ hours under your belt before you can say that you are proficient. I disagree with this. It can take more or less time depending on the type of trader you are.
Lets take for example, you are a technical trader, you use technical tools to trade the markets. It is your sole and only way that you trade the markets. You have some success and some failure but you use the technicals to your advantage and you start to learn from your mistakes.
Now lets say you are a fundamental trader, you use the news of the world to get a bigger picture of what is happening (mostly swing and trend trading happens in this area). This is an easier time and takes far less to grasp an understanding of what is happening.
Now combine the two. what do you get?You get the fundamentals which gives you the ability to know that the market should start moving in a single directions, couple that with the technicals such as fib lines, support resistance and volume and you can start seeing areas where the market will move to and where it will continue.
This takes far less time to accomplish and can be learned relatively quickly. Most traders will go for the quick, purchase this EA, let it trade, opps blew up my account, lets buy another, blew up account, etc scenario.
However, EA's are missing a fundamental reality. If you don't know where the market is going to go, how can you ideally have a successful trading scenario?
Ultimately, my experience is that it took me a year to get out of the new trading experience. Now when I look at the overall view. It is a clear picture and I don't worry about the market making sudden movements.
Let me know if you have questions, I can go on and on about this....
Hope this helps.
Technically speaking. This depends on the type of trader that you are. For swing/trend trading it may take longer for one to become a moderately successful trader.
Now, that is not to say that there are some people that are gifted when it comes to trading, and hence it may take less time to become successful.
Their is a going rate in the industry that you should have 5000+ hours under your belt before you can say that you are proficient. I disagree with this. It can take more or less time depending on the type of trader you are.
Lets take for example, you are a technical trader, you use technical tools to trade the markets. It is your sole and only way that you trade the markets. You have some success and some failure but you use the technicals to your advantage and you start to learn from your mistakes.
Now lets say you are a fundamental trader, you use the news of the world to get a bigger picture of what is happening (mostly swing and trend trading happens in this area). This is an easier time and takes far less to grasp an understanding of what is happening.
Now combine the two. what do you get?You get the fundamentals which gives you the ability to know that the market should start moving in a single directions, couple that with the technicals such as fib lines, support resistance and volume and you can start seeing areas where the market will move to and where it will continue.
This takes far less time to accomplish and can be learned relatively quickly. Most traders will go for the quick, purchase this EA, let it trade, opps blew up my account, lets buy another, blew up account, etc scenario.
However, EA's are missing a fundamental reality. If you don't know where the market is going to go, how can you ideally have a successful trading scenario?
Ultimately, my experience is that it took me a year to get out of the new trading experience. Now when I look at the overall view. It is a clear picture and I don't worry about the market making sudden movements.
Let me know if you have questions, I can go on and on about this....
Hope this helps.
I do not follow the path of others, I create my own path and leave a trail behind me
Member Since Jun 03, 2010
675 posts
Mar 11, 2015 at 21:18
(edited Mar 11, 2015 at 21:19)
Hello @whicked ,
In beginning I would like to thank You for opinion.
You're quite right, but it is hard to test fundamental strategy in computed way because I haven't seen any application that would apply market news data as source. That's why I even didn't write about such testing.
For fundamental reality I will not agree. That is part that I didn't write about too - its called Reoptimalization period. Every EA has to be optimized to current market conditions (that are surley depends on market data in some part). Optimal reoptimalization time for every strategy is diffirent depending on their complexity etc.
Personally, I reoptimize my strategies on about half year for each.
What's more, I think that EAs are created mostly for swing trades so there is no such need to look after economical results (unless data are published at trade time ;) )
In beginning I would like to thank You for opinion.
You're quite right, but it is hard to test fundamental strategy in computed way because I haven't seen any application that would apply market news data as source. That's why I even didn't write about such testing.
For fundamental reality I will not agree. That is part that I didn't write about too - its called Reoptimalization period. Every EA has to be optimized to current market conditions (that are surley depends on market data in some part). Optimal reoptimalization time for every strategy is diffirent depending on their complexity etc.
Personally, I reoptimize my strategies on about half year for each.
What's more, I think that EAs are created mostly for swing trades so there is no such need to look after economical results (unless data are published at trade time ;) )
PAMM MANAGER // Professional Fund Manager
Mar 11, 2015 at 22:14
Now where I agree that when testing a technical based system it does require a substantial amount of time to optimize the data for the historical data. But, it can't truly predict the future.
The greatest traders of all time in the markets used a combination of volume and technicals to amount massive earnings. They didn't rely solely on technicals. Even in their memoirs and biographies they mention that solely idolizing one is doomed to fail.
Hope this helps. Sorry I misread the beginning of the thread. Didn't know you were asking for opinions on the article. It does have some shine to some parts, but for me, without a fundamental outlook they trade blindly (unless you have hooked in to something that reads news data and then trades in the expected ways, even then it may fail)
The greatest traders of all time in the markets used a combination of volume and technicals to amount massive earnings. They didn't rely solely on technicals. Even in their memoirs and biographies they mention that solely idolizing one is doomed to fail.
Hope this helps. Sorry I misread the beginning of the thread. Didn't know you were asking for opinions on the article. It does have some shine to some parts, but for me, without a fundamental outlook they trade blindly (unless you have hooked in to something that reads news data and then trades in the expected ways, even then it may fail)
I do not follow the path of others, I create my own path and leave a trail behind me
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