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In this Bangkok Forex trading vlog, I share with you a tutorial on how to use the Tradingview online platform to analyze your charts and place your trades. Vlog #484
Check out TradingView: http://bit.ly/D2TTradingView
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// TRADING MUST-HAVE RESOURCES
Forex Broker: https://d2t.link/axitrader
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Backtesting Tool: https://desiretotrade.com/soft4fx
VPS (for algo trading): https://desiretotrade.com/vps
Trading Journal: https://desiretotrade.com/journal
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// ABOUT ME
My name is Etienne Crete (from Montreal, Canada). I’m a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That’s why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
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Forex Algorithmic Trading Views, How to Use Tradingview for Forex | Complete Trading Tutorial.
Do quants make a lot of cash?
Quants are not vanishing. Really, quants will probably make more cash as transactions get much more complicated. In regards to cash, I forecast that there will be much more variation in the earnings as the actual great quants get paid very well and the various other quants will still get a good pay.
Recommended Book for Algorithmic Trading
Algorithmic Trading: Winning Strategies and Their Rationale
Book by Ernest P. Chan
Praise for Algorithmic Trading “Algorithmic Trading is an insightful book on quantitative trading written by a seasoned practitioner. What sets this book apart from many others in the space is the emphasis on real examples as opposed to just theory. read more…
Originally Published: 2013
Author: Ernest P. Chan
A Proven Process For Creating Algo Trading Systems
As soon as you prevent the typical pitfalls in algo trading, it is time to create methods in a managed, repeatable procedure. I call my procedure a Strategy Manufacturing facility, where trading ideas been available in as resources, “devices” turn ideas right into totally tested methods, and what leaves the manufacturing facility is either a tradable method or a disposed of scrap method. The steps I utilize to create a method are given below.
The procedure begins with objectives and objectives. Like driving an auto to a location, you have to recognize where you wish to end up prior to you begin.
Identify the market you wish to trade, and also the annual return and drawdown you want. You can have much more objectives than that, to ensure that is actually the bare minimum. Having solid objectives and objectives will aid you recognize when you need to be satisfied with the trading algo you produced, and will aid you prevent a lot of the pitfalls defined previously.
Next off, you require a concept to develop a method with. This does not imply you require to create an entire economic theory for your method, however it also implies that randomly creating ideas (such as: get if the close of 53 bars back is more than the close of 22 bars ago) probably will not work.
The most effective ideas have an explanation behind them. As an example, “price going up has a tendency to keep going up” could be a good concept to code and develop into a method. The good thing is ideas are almost everywhere, and you can simply customize the ideas you find, customizing them to fit your wishes. Final note: always watch for trading ideas. You will require to check a lot of them to find a good one.
The next step is to historically check your method. I normally run this as 2 different steps. First, I run a tiny scale test over a few years of information, to see if my method has any kind of benefit. A lot of methods fail this step, so it conserves me the moment and irritation of a complete scale test. I also customize the method at this point, if I require to. I can do this without fear of overfitting or curvefitting the method to the historic information, because I am only using a few years of information.
As soon as I have a successful initial test, I after that do an even more thorough test. I utilize a procedure called walkforward screening, which transcends to a standard enhanced backtest. You could also do out of example screening at this point. The key is not to check too much during this step. The more screening you do, the most likely your version is mosting likely to be contour or overfitted.
After I have a successful walkforward test, I run some arbitrary Monte Carlo simulations with my version, to establish its return to drawdown characteristics. You wish to have a trading system that gives an appropriate return to drawdown proportion or else why profession it? The other side, though, is that if the return/drawdown is too great, it usually indicates a trading method that has actually been overfit (gone over previously as a “too great to be true” trading system).
With historic backtesting finished, I now watch the trading method live. Does it fall apart in real time? Many inadequately constructed methods do. It is essential that you confirm that the trading system still performs well in the actual time market. That makes this step extremely vital, even though it is extremely hard to do. After all, that intends to spend months viewing a trading system they simply produced, rather than in fact trading it? However persistence is key, and believe me when I state doing this step will conserve you cash in the future.
The final difficulty prior to transforming the method on is to check out and contrast it to your existing portfolio. At this moment, you wish to guarantee that your methods have reduced correlation with each other. Excel or various other information analysis software application is suitable for this task. Trading 5 bitcoin methods all at once is pointless if they are very correlated. The concept behind trading multiple methods is to minimize threat via diversity, not to concentrate or multiply it.
Of course, at the end of growth, if the method has actually passed all the examinations, it is time to turn it on and trade with actual cash. Typically, this can be automated on your computer or online personal web server, which frees you approximately create the next method. At the same time, though, you require to put checks in location to keep track of the online methods. This is crucial, however thankfully it is not a difficult task.
Recognizing when to turn off a misbehaving algo method is a fundamental part of online trading.
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