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Don't trade like in Vegas and let your profitable strategies make millions

(Last Updated On: May 19, 2010)

Here is a conversation on reddit.com which pretty well inspired me tostart thinking about blending my knowledge of technology and financial investment. This was pretty inspiring where an indie software engineer launched his own business. He is now clearing millions. Source is http://www.reddit.com/r/IAmA/comments/9s9d7/iama_100_automated_independent_retail_trader_i/

whatswith_this 1 point2 points3 points 6 months ago[+] (3 children)

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bolln 1 point2 points3 points 6 months ago[+] (1 child)

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So your strategy is fully automated. Do you still have to monitor it or can you walk away? Do you ever have to step in, ie, miss a fill?

Do you use % pl stops to exit or do you use conditions?

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mejalx [S] 6 points7 points8 points 7 months ago[+] (0 children)

mejalx [S] 6 points7 points8 points 7 months ago[-]

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Some of my strategies are fully automated, others are like gray boxes, in that I tune their parameters in real time during the trading day (this makes up about 25% of my trading). I never interfere with any execution, nor do I pull bad trades, as all the logic is handled within the system. Of course on major disaster days like 9/11, I would step in and then close out.

I have an idea of where I want to exit any trade, based on my models, before I put it on; any profit I can get in addition is just a plus.

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sexybeastsabound 1 point2 points3 points 7 months ago[+] (1 child)

sexybeastsabound 1 point2 points3 points 7 months ago[-]

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can your task be achieved on a smaller scale using stop/limit orders?

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mejalx [S] 5 points6 points7 points 7 months ago* [+] (0 children)

mejalx [S] 5 points6 points7 points 7 months ago* [-]

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I use limit orders. I add/remove liquidity on a 50/50 split. I started out trading small size (100 shares), so yes, you can start small.

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vanchunks 1 point2 points3 points 7 months ago[+] (1 child)

vanchunks 1 point2 points3 points 7 months ago[-]

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Do you backtest the automated strategies you come up with?

How do the results compare with the back tests?

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mejalx [S] 3 points4 points5 points 7 months ago[+] (0 children)

mejalx [S] 3 points4 points5 points 7 months ago[-]

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I backtest only when it makes sense to. Other strategies are forward tested with light size. Generally, I’m very happy if I can get close to 85% of backtested performance.

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obsessedwithamas 0 points1 point2 points 6 months ago[+] (1 child)

obsessedwithamas 0 points1 point2 points 6 months ago[-]

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Do you think the market is effectively legalized gambling? Do you consider what you do morally equivalent (but perhaps more complex) than people who are card counters in Vegas or write Online Poker programs?

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mejalx [S] 0 points1 point2 points 6 months ago[+] (0 children)

mejalx [S] 0 points1 point2 points 6 months ago[-]

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No, I do not. While some people approach trading/vegas in the same way, those that do, usually lose. I can’t speak for the morals, but I personally do not gamble (play in or against a casino). Speculation is only a mere part of what the market is.

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