Longing lira lets see what happens, I smell a rebound
Longing lira lets see what happens, I smell a rebound
At the least you might see it touch .13+
Moved my daily average up, it is now 7k a day.
Did $8,600 today.
Still a lot of inefficiencies to work out still, my entries are excellent but my exits are premature leading to a lot of money left on the table.
I can afford to hold a big longer so I think I am just going to bite my tongue tomorrow and deal with the uncertainty in late stages of the position although I dislike that sort of thing. Given my consistency though I need to loosen up a bit because I can obviously handle the added uncertainty.
My goal over this next week is to make my trading more and more efficient.
I think I can swing 10k out of morning trades if I catch each one within 5 variance points on the RSI.
Friday I did $6,700, today was $8600, and by the end I'm hoping for $10,000 of trades that take place between 9:30-12:00.
9:30-12:00 is where the chart stays the most stable and the RSI is the most predictable. It does proper variance swings that carry all 40 points. After 12:00 patterns break down often which make any give play, even deep oversold/overbought plays uncertain.
No need to get greedy if your entries are on point tbh
I agree with you but in this instance it's more about efficiency than greed, or perhaps I'm just greedy towards efficiency.
I am only capturing something like 40% of the daily value, I want 50% at the least.
Dear Alice,
Do you know of any free-to-use platform where you can test strategies for real-time trading? Is that website, https://www.tradingview.com , any good? It seems like it only includes a free trial. Those numbers you're quoting (8k/day) are enough to spark my interest. How consistently are you getting those numbers?
What other resources do you use?
As I mentioned, I've only really done long-term investing (the boring way). I tend to avoid risks, and I reserve judgement (especially when money is involved) until I've gathered enough evidence to make informed decisions. However, it seems you've been rather successful with relatively simple models -- which I find surprising. I had assumed that it would take significantly more sophisticated modelling to be able to compete.
Therefore, perhaps I've avoided the whole trading thing for the wrong reasons. I'd be curious to learn more.
Sincerely,
Legga
last edit on
10/20/2020 6:16:10 PM
Dear Alice,
Do you know of any free-to-use platform where you can test strategies for real-time trading? Is that website, https://www.tradingview.com , any good?
I use trading view as charting platform and I highly recommend it for that purpose, all the features you need are free.
As for testing strategies what you are looking for is known as 'paper-trading'. This is essentially fake trading the real markets and it's how I test every new strategy a long with the computational stuff I'm work on.
Tradingview has a paper trading platform but I am not what its like.
My recommendation is that you set an investment account up with an actual broker or bank that also has a paper trading platform.
For instance I use TD Ameritrades ThinkOrSwim which allows me to do real trading and paper trading and both work exactly the same, so not only are you running real time tests but your running those tests on the platform you're going to trade with.
I am unaware of European plateforms so that's something you're going to have to figure out but should be an easy find.
It seems like it only includes a free trial. Those numbers you're quoting (8k/day) are enough to spark my interest. How consistently are you getting those numbers?
Since switching to trading based on Volatility and Intraday mean reversions I am averaging ~5k a day for the month.
I have just broke through that as I revised the system towards the end of last week and am now averaging ~7k a day for the past week and ~8k a day the past two days.
What other resources do you use?
beyond Tradingview I use Python to play with data, for that I use a package called yfinance but that is hardly necessary.
I the most basic statistical notions to make my trades: Mean, Variance, Standard deviation, and Mean Reversion.
As I mentioned, I've only really done long-term investing (the boring way). I tend to avoid risks, and I reserve judgement (especially when money is involved) until I've gathered enough evidence to make informed decisions. However, it seems you've been rather successful with relatively simple models -- which I find surprising. I had assumed that it would take significantly more sophisticated modelling to be able to compete.
Therefore, perhaps I've avoided the whole trading thing for the wrong reasons. I'd be curious to learn more.
Sincerely,
Legga
When I first started I was playing with long term investments based on valuation and it just was not for me, plus it's hard to trade this way when the market is irrational.
I switched to options trading after my transplant and started playing volatility trends using some basic statistics and it's been extremely profitable.
I can give you a more extensive overview of my strategy if you want.
I use trading view as charting platform and I highly recommend it for that purpose, all the features you need are free.
Got it, thanks.
As for testing strategies what you are looking for is known as 'paper-trading'. This is essentially fake trading the real markets and it's how I test every new strategy a long with the computational stuff I'm work on.
Tradingview has a paper trading platform but I am not what its like.
I see.
My recommendation is that you set an investment account up with an actual broker or bank that also has a paper trading platform.
For instance I use TD Ameritrades ThinkOrSwim which allows me to do real trading and paper trading and both work exactly the same, so not only are you running real time tests but your running those tests on the platform you're going to trade with.
I am unaware of European plateforms so that's something you're going to have to figure out but should be an easy find.
I can open an Ameritrades account, that's not an issue. However, I use Linux, so I can't use any interface which requires Microsoft. I hope that's not the case for Ameritrades? So I'm guessing there is some kind of an interface you can use to connect your python scrips to what is happening on the trading platform? Before I go ahead and open an account, how does it work exactly?
You can probably give it some instructions on how to make trades and then execute + analyze? How is the interface?
Since switching to trading based on Volatility and Intraday mean reversions I am averaging ~5k a day for the month.
I have just broke through that as I revised the system towards the end of last week and am now averaging ~7k a day for the past week and ~8k a day the past two days.
Interesting.
beyond Tradingview I use Python to play with data, for that I use a package called yfinance but that is hardly necessary.
I have tried yfinance, but I didn't find it to be very convenient to use.
I the most basic statistical notions to make my trades: Mean, Variance, Standard deviation, and Mean Reversion.
I was hoping to try a few basic things, maybe try out a few quick tricks, and then build from there. I'm not 100% in yet, just curious, for now.
When I first started I was playing with long term investments based on valuation and it just was not for me, plus it's hard to trade this way when the market is irrational.
I switched to options trading after my transplant and started playing volatility trends using some basic statistics and it's been extremely profitable.
I can give you a more extensive overview of my strategy if you want.
Interesting. Before giving a more extensive overview, let me try out a few things and I'll get back to you once I run into the first issues. Having a platform to do paper trading would be the first priority for me.
Thanks Alice.
last edit on
10/20/2020 7:28:42 PM
I use trading view as charting platform and I highly recommend it for that purpose, all the features you need are free.
Got it, thanks.
As for testing strategies what you are looking for is known as 'paper-trading'. This is essentially fake trading the real markets and it's how I test every new strategy a long with the computational stuff I'm work on.
Tradingview has a paper trading platform but I am not what its like.
I see.
My recommendation is that you set an investment account up with an actual broker or bank that also has a paper trading platform.
For instance I use TD Ameritrades ThinkOrSwim which allows me to do real trading and paper trading and both work exactly the same, so not only are you running real time tests but your running those tests on the platform you're going to trade with.
I am unaware of European plateforms so that's something you're going to have to figure out but should be an easy find.
I can open an Ameritrades account, that's not an issue. However, I use Linux, so I can't use any interface which requires Microsoft. I hope that's not the case for Ameritrades? So I'm guessing there is some kind of an interface you can use to connect your python scrips to what is happening on the trading platform? Before I go ahead and open an account, how does it work exactly?
You can probably give it some instructions on how to make trades and then execute + analyze? How is the interface?
ThinkOrSwim is avaible for Linux and there's also a web version.
I love the interface personally, trading options is really really simple and fast which is all i'm concerned with.
Furthermore their charting tools are excellent and include things like implied and historic volatility while charting platforms such as tradingview does not. Having said this, charting via tradingview is overall more user freindly.
As for connection Python scripts, no.
ThinkOrSwim uses ThinkScript and Tradiginview uses PineScript.
Since switching to trading based on Volatility and Intraday mean reversions I am averaging ~5k a day for the month.
I have just broke through that as I revised the system towards the end of last week and am now averaging ~7k a day for the past week and ~8k a day the past two days.
Interesting.
beyond Tradingview I use Python to play with data, for that I use a package called yfinance but that is hardly necessary.
I have tried yfinance, but I didn't find it to be very convenient to use.
Not convenient at all but super easy to to install without strings attached when compared to other api's
I the most basic statistical notions to make my trades: Mean, Variance, Standard deviation, and Mean Reversion.
I was hoping to try a few basic things, maybe try out a few quick tricks, and then build from there. I'm not 100% in yet, just curious, for now.
When I first started I was playing with long term investments based on valuation and it just was not for me, plus it's hard to trade this way when the market is irrational.
I switched to options trading after my transplant and started playing volatility trends using some basic statistics and it's been extremely profitable.
I can give you a more extensive overview of my strategy if you want.
Let me try out a few things and I'll get back to you once I run into the first issues.
This is wise, in the end it was all trail and error with me.
I only just hit my stride the past month and all it took was for me to stop listening to others and just implement my own ideas based on my own knowledge.