Paying Traders on Gold Members/ Platinum Members/ lifetime get access to in depth support/ templates and priority support to accelerate their learning. Free traders are welcome to experiment as they want to.
Perhaps to be in the top 5% of retail algorithmic traders you simply have to have a systematic approach, plan, systems, test, collate stats from backtest, out of sample and pre-production realtime sim trading. Retail traders seem to think they don’t need to bother to learn the basics and take time, trading with a plan and a methodology – i believe this is down to lying and cheating websites/ brokers and vendors who falsely push the claim trading is easy – its simple perhaps but not easy – consistency is the key, time and patience, money should not be wasted trading it should be used on a server, historical datafeed ,save money by using the NinjaTrader free trade platform and free algorithmic automated trading systems
Sadly it’s no surprise that in algorithmic trading perhaps 95% fail where as only 80% fail at discretionary trading. For some reason most retail traders think they are exonerated from being systematic, procuring data, following a plan, performing manual or automated back testing, and selecting a system and instrument to suit their style/ capital and risk appetite.
Most traders want to skip all the hard work and arrive to Pro level with big rewards coming in… the reality is very different – and time will educate some of them who will go on to succeed.
I have spent sometimes more than 18months at a time backtesting and experimenting and don’t consider that anything unusual, if you want to be good at something put the time in – that is the way to all paths of success which is sustainable. I am constantly re-enforcing what works and experimenting and learning – markets change volatility and liquidity…
With MicroTrends NinjaTrader Algorithmic Trading systems you are getting the best features available for NinjaTrader that allow you to follow a methodology for success. It is easy to track the isntrument/ strategy/dataseries/template at a glance with the MTDS7 powered Algorithmic Trading Systems
MicroTrends Automated Algorithmic Trading software it is free for those who want to experiment and we have paid for plans for those who are going to roll their sleeves up and accelerate their learning and trading results/knowledge – yes that costs time and money so you need to contribute and in return – you will get the software /models/templates and 1 to 1 advice on the method.
5 simple Steps to enhancing your trading decisions, expertise and knowledge
Use a system of excel and folders to control your progress segregating your trading stats for each combination of: system instrument dataseries templates and account name. That will give you the history and the statistical evidence to make informed decisions. (old/ platinum members get this from MicroTrends and its shared on google/drop box so updates and support is provided)
Procure data, backtest, out of sample and pre-production realtime sim test
Setup additional NinjaTrader simulated accounts so that you are backtesting/out of sample testing/ pre productions testing.
When trading in realtime – export the stats daily or hourly to excel and store these, take screenshots and make notes on the charts store these in a folder for each week.
Collate and summaries the weekly stats for each system so you have the statistical evidence and a weekly view so you can avoid recency bias on an intraday level and keep out the emotions – just follow a routine.
Get your trading systems controls in place to empower your trading decisions based on statistical evidence and a database for your trading
Setup NinjaTrader for trading with segregated sim accounts to track a systems real-time trading stats
Export Realtime Strategy Stats to Excel each day or hour store in a weekly folder for live and/or sim trading
Save NinjaTrader Strategy to Excel and save to a weekly folder for your invaluable information
Paid for users on the Gold Plan get in depth support and assistance/ templatesbasic advice get started advice and documentation structure delivered by drop box/ and data on the Platinum Plan we setup a server and a set of models/templates and mentor on how to approach/ backtest/ collate stats and work on pre-production and sim/live trading models and and manage that process but it is always the trader who makes the decisions – we simply accelerate the learning curve and facilitate it all.
Over time – The right robot is one you have selected based on your direct experience and understanding: You would have backtested, out of sample tested, traded in pre-production and selected for your style/ availability & capital And you will have tracked all your systems/tests and collated all the data at all stages with notes so you understand what you tested in the past and why you arrived to the present – you will know which robot works when and why and you can match it to the current market phases and decide if its tenable to use etc you will correlate it to market ranges/ volume/ trends and price cycles so you will know why and when to use it and when not to and you can have several – for example a breakout or a trend model and or mean reversions
Getting Started: we suggest starting with a simple robot – such as the MTDS SDK USAR – and understanding all the basic parameters – then moving to a MTu7 if required – MTU7 is a combination of MTDS7 + MTNTF7 signals indicators
Disclaimer Trading & investment carry a high level of risk & MicroTrends® does not make any recommendations for buying or selling any financial instruments. We do not offer trading or investment advice. We are a software company & we only offer educational information on ways to use our sophisticated MicroTrends trading tools. It is up to our customers & other readers to make their own trading & investment decisions or to consult with a registered investment advisor. Risk Disclosure Futures, CFDs & forex trading contains substantial risk & is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading & only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Please read the full risk disclosure here.
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results & the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, & no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results & all which can adversely affect trading results.
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