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FSM (dkilmer)
Feb 16 2017 at 14:38
90 ieraksti
snapdragon1970 posted:
Yes level 2, no there is depth in other securities as well,you need to see the volume and buyers and sellers then you check that with say a resistance level, that's why you see technical fail without those measures, the only place to automate is HFT or Institutional trading of book orders in stacks.


Right, essentially you are saying that price action and volume are the largest indications in your trading decisions, and I totally get that on a manual level. I totally understand how level 2 works and when I first started paper trading three years ago, I was doing stocks and indices, instruments that had level 2.

I get what you are saying, this is a social site for forex traders, so I am wondering, other than using tools like Outlook here on myfxbook and checking the books on brokerage sites ( like oanda , the broker i use ), would there be any other way to get that info to robot, like via an api?

Are you suggesting that going with the crowd is more sound than against? I have always found that when the books show a real heavy buy or sell crowd, that the opposite is always more profitable in the long run than going with the crowd.

Also, isn't support and resistance, along with volume and price action the number one indicator to see the large institutional orders?

Everything in the market is like a fart, if you have to force it, it is probably shit
kieran (snapdragon1970)
Feb 16 2017 at 19:40
1944 ieraksti
The intuitions don't look at support and resistance levels, that's why you see stops being run at a support/resistance level its price and volume game they are interested in, you cant check books unless your on a trading desk, some brokers will share info at a price for large private clients. As a retail trader you can pick off other retail or if you know what to look for you can jump on the intuitional trade, yes by the time you see a large buy order go through, professional traders are looking at selling. There is a lot of useless information sold to retail that's why such a huge fail rate.

"They mistook leverage with genius".
FSM (dkilmer)
Feb 16 2017 at 19:42
90 ieraksti
I get that, I am trying to understand why you think that automation is completely useless in forex if you can't integrate information you normally can't get anyways? How do you explain those who are successful that run automated systems in forex? Obviously, they are building these systems without this information

Everything in the market is like a fart, if you have to force it, it is probably shit
kieran (snapdragon1970)
Feb 16 2017 at 20:05
1944 ieraksti
A certain percentage will be successful but that's down to pure luck not the system, the profits are so small it has to be done on HFT even then cost factors kill most over a period of time or completely fall off a cliff, Forex isn't designed for retail in a nutshell , you will hear of systems gaining huge % for a few months, you wont hear of the amount of systems that blow up.

"They mistook leverage with genius".
FSM (dkilmer)
Feb 16 2017 at 20:13
90 ieraksti
I have read and listened to quite the number of interviews of traders who have been running their own automated systems for years with varying success , but not without complete blowouts. I find it hard to believe that it is completely useless to try and program a automated system....

sure, I get I would never hear of all of the failures and blowups, but what about those who have been doing it for years. Ed Sakota? I mean, why or how can I trust what you are saying is true?

just curious really, and thank you for your insights , but keep in mind , I am very skeptical of what you are saying as I have no way of seeing your success as proof. But if what you are saying is true, it would solidify something I have been speculating for the last two years, and that is, a system is only as good as the programmer behind it - you still have to intervene most of the time.

but than again, what about ed saykota? Can the automation done in instruments with level 2 be THAT different than forex?

Everything in the market is like a fart, if you have to force it, it is probably shit
kieran (snapdragon1970)
Feb 16 2017 at 23:46
1944 ieraksti
Some of the most expensive automated systems I know of can't run without manual intervention because of the human element in trading .I to know traders who were successful running automated systems for awhile,some are still friends,you will hear about their success when they are successful at that point in time, it's almost impossible in an institutional setting ,so what odds do you think a retail trader has no matter what his IQ is,it was brought to retail to generate sales nothing else ,the black box systems .I have no reason to talk bs the facts are out there if you look.ed saykota is one of those exceptions I was talking about earlier.I recently was talking with a guy ex Goldman sacks running his own funds 64% success rate 0% automated, he was saying HFT is a race to the bottom while he was still at GS,food for thought,hope it helps.

"They mistook leverage with genius".
Jay (lee42747)
Feb 17 2017 at 10:16
49 ieraksti
I am also a big believer that the human factor is at first place in trading, even if EAs are used. I think the manual intervention you refer to in the auto systems is to update them regularly according to the new market reality. This is super important.

Mohammadi
May 11 2018 at 08:54
825 ieraksti
Newcomers first of all have to observe some mandatory things if they want to lead a secure and comfortable trading life with certainly. Only good trading knowledge cannot bring success in this volatile trading place. Besides good trading knowledge we the traders have to make sure a reliable support from a credible trading broker, because the broker can affects the result of our trading with certainly.

FSM (dkilmer)
May 11 2018 at 13:45
90 ieraksti
Mohammadi posted:
Newcomers first of all have to observe some mandatory things if they want to lead a secure and comfortable trading life with certainly. Only good trading knowledge cannot bring success in this volatile trading place. Besides good trading knowledge we the traders have to make sure a reliable support from a credible trading broker, because the broker can affects the result of our trading with certainly.


All Traders of New have to first become smart and than relearn how to learn how to be calm in the face of uncertainty. Than and only than may they than open a broker account, but only a good broker account, to be certain of certain certanly circumstances :)

Everything in the market is like a fart, if you have to force it, it is probably shit
Audrey Collins (audreycolln)
Jun 12 2018 at 10:57
9 ieraksti
Mohammadi posted:
Newcomers first of all have to observe some mandatory things if they want to lead a secure and comfortable trading life with certainly. Only good trading knowledge cannot bring success in this volatile trading place. Besides good trading knowledge we the traders have to make sure a reliable support from a credible trading broker, because the broker can affects the result of our trading with certainly.
Agreed. There are a lot many factors that go into successful forex trading besides knowledge. A trusted broker is one of them. Although I believe even then there is always a certain degree of uncertainty as these markets tend to be rather volatile sometimes.

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