I took great interest in reading all the comments from EL's post yesterday. The reason he posted the FloBot trades, is because FloBot is getting close to working the way we want it to. Yes, it trades a lot and yes, there are losing trades and losing days. HFT isn't anything like EL's discretionary method, but that's OK, because there's still a high win rate. Even after the broker commissions, it's still highly profitable.
EL thinks there will always be a place for discretionary traders but I'm not so sure. I know I can't begin to compete with his years of experience so I'm relying more on programming and computers. I also know that I wouldn't have been able to program FloBot without the rules of his trading methodology, because those rules forms the order flow and momentum which is the basis of FloBot's logic.
Where this all goes is anyone's guess. It seems a lot of the big money is auto trading, and I know I'm lucky that I can take advantage of this technology at a low entry cost. In the end we both think the best auto traders will be the ones with the skill set of both a discretionary trader and a computer programmer, because so much about context and the little nuances, gets lost in translation if the roles are split.
I'm planning to run FloBot live on the GoToMeeting website for those who might be interested. I'll let you know when and how in another post. Right now I'm working on the difference between the performance from back testing using eSignal data and live performance on a demo account using the broker's data feed. I'm concentrating on 6E because it's the most active market in all the time zones. The broker statements from my Flobot account will also be posted.
Kiki
EL thinks there will always be a place for discretionary traders but I'm not so sure. I know I can't begin to compete with his years of experience so I'm relying more on programming and computers. I also know that I wouldn't have been able to program FloBot without the rules of his trading methodology, because those rules forms the order flow and momentum which is the basis of FloBot's logic.
Where this all goes is anyone's guess. It seems a lot of the big money is auto trading, and I know I'm lucky that I can take advantage of this technology at a low entry cost. In the end we both think the best auto traders will be the ones with the skill set of both a discretionary trader and a computer programmer, because so much about context and the little nuances, gets lost in translation if the roles are split.
I'm planning to run FloBot live on the GoToMeeting website for those who might be interested. I'll let you know when and how in another post. Right now I'm working on the difference between the performance from back testing using eSignal data and live performance on a demo account using the broker's data feed. I'm concentrating on 6E because it's the most active market in all the time zones. The broker statements from my Flobot account will also be posted.
Kiki
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