In a recent email, I sent out, I mentioned that I consumed a lot of episodes from Chat with Traders. As usual, there was a common theme among all the videos. I can also relate the same theme among all the seven digit to nine digit algo traders that I’ve dealt with over the years. When you listen to the more experienced, popular, and successful traders you’ll find that they only deal with fundamentals, simplicity, with risk on top of their mind. Compared to the automated machine learning or even questionable popular gurus, you’ll find most of them never talk about their long-term success at FULL TIME trading. It is quite clear on how you should approach the world of automated trading with certain types of strategies in mind. To be honest, you should only be following successful traders. Not some technical guru who does consulting, nor involved in some twisted financial operation. People who end here are usually realizing that trading is hard. Real hard. What do they do? They don’t trade so they can earn dollars elsewhere as they are a failed trader. I mean they just pick up their toys to go elsewhere. Anyone successful at this would see the HUGE potential of automated trading. If they are experienced, they would only focus on that with no need to earn elsewhere.
Now let’s talk about risk. One of the videos revealed in how nobody approaches their trading with risk on top of their mind. I mean no one is setting portfolio targets, daily trading targets, balancing their portfolio for optimal return, nor simulating looking for optimal position sizing. Also, you need to throttle your trading capital allowance for positions to ensure protection of your account. This would consider dynamic market conditions and trading performance as well. I could go on and on about this. Any highly prized automated trader will tell you this is probably the most critical part of their day. Funny thing is no one is doing it. Even humans are not capable of doing this by hand. It is quite the joke when they can’t figure out why they’re losing money after doing well for a short time. The game may have changed, manipulation comes into question, so they lose it all. Boo hoo. Cry me friggin’ river as the markets don’t care about some failed trader’s thoughts. As I keep saying, the number one goal in trading is to protect your capital. Trying to make bank is your number 2 goal. Then again those that lose it are only amateurs but there are those suckers that will pay thousands of dollars to learn about their failures. Good job fellas.
Lastly, many have asked for this workshop I spent quite a lot of time on. It is the Interactive Brokers API where I spend hours and hours upon demonstrating the capabilities through this powerful automated broker. At the same time, I show how to implement using major open source non .NET languages which includes Java, Python, and low level C++. I don’t think you will get all of this with various demos, coding samples, and on top scenarios you want to use these languages. As you know, all good things will come to an end with the unbundling of this workshop from my Quant Elite membership. This Saturday Dec 17 will mark that day. I will be completely removing it from the membership but will re-appear in the New Year as a pretty expensive standalone product. Personally, you may want to take advantage of this last week before everything else disappears within a few months.
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