This algo trading is harder than it looks. The algos are actually the easy part.
The hard part is staying involved with the markets without moment to moment interacting with them. Observing... I guess that is the point of mindfulness, to have awareness but without judgment. I find myself having a hard time with inaction. I have pretty nice algos that have nice average trade profits, but I still want to control the trading. Its an impulse to take action. I want to be a lab rat pushing a button for more cocaine rush. In chapter 6 of Bhagavad Gita, For him who has conquered the mind, the mind is the best of friends; but for one who has failed to do so, his very mind will be the greatest enemy.
I try to remind myself of this concept every time that I want to get caught up in the roller coaster of a chart, usually @CL. Oh @CL you crazy winding white water of a river. Triforce always reminds us to take a step back. I feel like I could only watch his weekly outlook and trade better than if I studied every day. However I still watch the daily video lessons because they take the weekly thoughts a few steps further, but I don't trade off technicals anymore. This is one of the aspects I love the most about his method of teaching. Less is more. He says the daily watchlist is not for learning, but it really is, just not in the sense the newbie thinks. That's what he means when he says that, but I still don't understand. When you learn about how markets move, you can come up with ideas that might be coded into an algorithm. Most of the time you code something and it doesn't work like you thought, so you learn that something is not what you expected. Not what you hoped, cause lets face it, we hope the chart will do a lot of things it won't, it can't, or it doesn't. Most of what we learn is really that the things we thought, are actually not true.
Thank you Mindful! Why do you see the need (what's the logic behind) to trade the algos manually if you already subscribe for the automated algo execution on Tradestation? Thx in advance for ur answer...
manually? I traded some oil in the last few days as a discretionary trader because I had an itchy finger. Algos are automated, so now I'm fully automated. I trade tri's algos and also trade my own that I write. they are all automated, no more manual trading.
My understanding is that the Algo Report subscription gives you notification when to enter or exit trades generated by the algos, and the HiveMind that you can subscribe to on TradeStation executes algo trades automatically. So when you said you do both it seemed to me that you subscribe to the HiveMind and enter trades manually when the Algo Report alerts you. That's why I asked why do you see the need to do both. Thanks for the clarification though. So do you keep your own algos on separate ac
accounts?
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