Blaiserboy

My nemesis has been impatience.....

I have, what I consider, to be a fairly good system, I make a few dollars with it. I have whatever tools I need to trade it very effectively, some days I look to be brilliant. Today..... I closed the charts because I can not see the trades...... is my system crap...... better thinking tells me that I am not focused. Instead of changing the system, I am doing replay..... I have done 'change the system' or 'get a new system' too many times, the one I have is great, sometimes I am dumb........

have a look in here...Worden Bros software real time scanning StockFinder® - Put the entire real-time stock market on your hard drive There is also Fcharts a free software that will allow you to do some scanning, you can find it a Spacejock.com

Yes, their system worked.......... it just didn't work the way they wanted it to.....:rofl:

There are many threads in this forum that describe methods that people have worked with for years and done very well with them. People change their thinking and then they change their trading plan. The system will still be working but that particular trader has become bored or disappointed so he looks for another approach. I was looking the other day at some threads by Walter The Chimp.. his rainbow approach....... he made a lot of money with that as did a group of the thread members....... all of a sudden the thread died, everyone lost interest. And that has happened to many, many great approaches.

I have only one mirror in my house now as I do not like to look at the enemy, he is a scary lookin critter. :rofl:

I have failed gloriously a few times in ten years..... One time I was so stupid that I thought I could influence the trend with my paltry orders........ Another time I traded all night against the trend and got clobbered severely, lost most of my account... My biggest mistakes have been caused by impatience and overtrading. Once I got the hang of waiting things improved tremendously I use very small lots and make many entries looking for small profits, hopefully increasing my account by a nice number each day.

I certainly think that there will always be daytraders..... As long as markets trend there will be traders nicking a bit for themselves every day and every night. I use a couple robots on a regular basis and they earn a bit for me......... no fun in robots except when developing them. To me, trading is fun, exciting, interesting and also problematic-demanding. As you will see in the various threads in this forum, some very intelligent and talented people are daytrading all the time. It will continue.

Why do we feel it necessary to have TRO post his qualifications considering that his method has allowed a ton of people to make some good money.? Is it a sport that we have to indulge in...? What do we accomplish by this......? Why do we want to divert the purpose of the thread..?

Why not configure a chart and learn to trade it instead of attempting to destroy what was a great thread..? Conversely, start a thread of your own and post your junk in there for all to see... In any event, please respect the readers of this thread. Thank you

You can have a look at FCharts at spacejock software, they have a free version with limited testing capacity, uses data from yahoo. I am thinking that you may find it more convenient to pay the piper and get amibroker as it is much faster and superior and, in the long run, will give you results that you can feel confident in. The backtesting is great for many people but the best results are obtained with walk forward analysis...... and you will need other than free software for walk forward... Metatrader 5 has built in walkforward, it is free, but may not suit the markets you are trading.

Metatrader......... not the best but will do the job

Over several years and many forums TRO has been a reliable poster and generous with help to newbies. As you mature in the trading business you will learn to understand his techniques and methods which have proven to be quite profitable long term.

Day Trading is far from dead....!! People are learning new and profitable techniques as the market changes. I am not so sure that robots will replace day traders, there are few robots available that are consistently profitable. daveM

I have looked at many things in my 'brief' exposure to trading and I have not seen the grail, I have seen a lot of my own mistakes though...... lol Somehow Mr Market seems to have a plan to defeat anything that resembles a solution.

You can determine this with a backtest.

Please share some examples, I am sure that many will be pleased to see those.

Fractals represent supply and demand and serve as great S&R points.

Day trading may change from year to year, there may be different approaches used, my thinking is that it will be alive and well for a long time into the future.

Trading can be whatever you want to make it..... you can start small and grow as large as you want. The biggest difficulty with trading is that a person has to make all of the decisions and mistakes cost capital. There is a tough road ahead if you allow your capital to erode. My approach is to study, test, learn continually as sometimes Mr Market decides to change the game and steal our money. Best of luck.....!!

Good Insights.. Thank you for sharing.. dave

Thomas Bulkowski makes great use of NR7 Patterns for his forecasting of the markets http://www.thepatternsite.com/CPIUpdate.html

I have used Metatrader for a few years and find no great problems with it, although I understand Tradestation and Amibroker to be superior for developing and testing automated systems... I just started with Amibroker for the purpose of learning re automated systems, it seems easy enough to use, I haven't used it enough to comment on the testing. Regarding costs...Metatrader is free, as is Ninja, each has a couple drawbacks... and the others cost and have some unique advantages.

Ninja has free forex feed, also it allows EOD from Yahoo..

here is a free tutorial Free Tutorials for EasyLanguage Services for TradeStation - contact here is a free ebook Getting Started With Tradestation Easylanguage