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How much it requires becoming an experienced trader?
Md Mizanur Rahman
Is there any condition to end up an experienced trader in a quick session?
Give your opinion.
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|Thread starter||Similar threads||Forum||Replies||Date|
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|J||How much does it cost a good EA on the web? at least 10% returns||Interactive Forex Trading||24||Jan 8, 2020|
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|HOW MUCH DID YOU LOSE IN FOREX|
|HOW MUCH DID YOU LOSE IN FOREX|
|How much does it cost a good EA on the web? at least 10% returns|
|How much time|
|why ea work very well on demo account but dont trade so much on real account|
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What is the suggested approach for an experienced programmer to become an Algo trader, assuming that he is experienced in doing manual trading?
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This is what i have done
- Language selected C#, Winforms
- subscribed for live market data
- found a stock broker who has support for executing trades through their api’s
- since the data is raw, i have to take care of creating candles data at runtime and calculating indicator values too. since the candle creation and indicators are all calculated from my end i have more control over when to take trade(after candle completion or breaching price value) and can analyse each candle on complete.
- i don’t have a server hence using local server WAMP.
- since each and every tick data is important, internet connection must be intact all the time with the power backup. Just in case i have an wireless hotspot as well.
- integrated my software with telegram api, so that the software automatically send periodic updates and i can also issue commands from my mobile using InlineKeyboardMarkup. Here is a screenshot of how it looks
7. added support for back test system as well
8. Integrated a probability based betting system
This is how my software looks
9. 8AM software launches itself through Windows task scheduler.
10. 8:30AM auto login to broker terminal.
11. download and load margins data from brokers terminal
12. Download and load instruments from broker terminal
13. 9AM start capturing pre market data
14. 9:15AM start capturing candles data and start screening scrips for strategies
15. Takes trade automatically when conditions are met.
16. since working only on equities now the system will close all the trades at 3PM.
15. 17:20PM Close software by itself, tracking currencies data hence need to track ticks till 5PM.
16. 17:30PM launch again through windows scheduler for filtering scrips for next day through integrated back test system.
17. DONE FOR THE DAY… again launcher starts next day 8AM
There are more details in between each step. For the entire setup to go LIVE it took me 9 months to program everything from scratch.
By the way each strategy i develop will have by default three modes inherit from its base
1. Paper trade – only entry and exit are recorded without any actual trade
2. Pilot scale(the name may be misleading) it takes only one quantity per trade. Mostly useful for live testing the scalping techniques which involves very narrow SL and targets. Since i always enter at market price and exit, there is a chance strategy developed may not give desired results at live market due to slippage.
3. LIVE – with proper fund allocation, position size and risk management including the integrated probability based betting system.
How to Become a Trader – Guide to Reach the Pros
There are a lot of misconceptions about online trading especially in depicting the real job of a pro trader. This time we will show what it takes to become a professional trader, what are the different paths you can experiment with.
What type of trader you want to be?
First, let’s make it clear what the trader is. Trader as a category, is so broad, that it is almost meaningless. Basically, you can differentiate two types of trader: retail trader and institutional trader.
Before we jump in, let’s see some example of professional traders:
Describing the group of retail traders is like analyzing the animals of a zoo. But in the end, there are only two types of retail traders. The ones that get fed up with losing, and the ones that carry on and eventually become successful. The bright side of the story is that from being successful, you can build your own brand and influence others like Tim Sykes (later on him). Also, retail traders can earn money from social trading – our eToro review will introduce you to this topic – or from collecting subscribers to webinars and special mentoring.
Institutional trader as a category refers to the employee executing trades at the big investment bank, brokerage firm, or other companies. You will get fix salary and hopefully a hefty bonus at the end of the year.
However, this job requires that you can work under huge pressure and take the risk. You will risk your firm’s money. But guess what happens if you don’t get the market pulse for a couple of weeks or simply just lay back for a while until the next trading opportunity arrives? You are fired.
This handy table highlights the pros and cons of the retail and institutional traders.
|Institutional (market maker)|