With decent returns you should be doubling down on yourself . Build up your pot so you don’t need to keep going to town with lots of leverage in your positions.
I second this, and would NOT try to build an algo to trade FX. There is an overwhelming amount of historical data/peer reviewed papers that suggest you will lose money trying to do this.
If you did produce apha, it would probably be due to luck since it’s a market with big institutional players who have 100x the resources, computing power, strategies etc. This is same generally for stocks also. Too many big fish in that sea.
Not trying to burst your bubble, but from what i’ve seen, maybe try to build an algo to trade crypto where there are PLENTY of novice retail traders to exploit
Handed back a little more than $1k in profits so far, and then pulled another $1k out to spend on flights (I’m at least going on vacation and guaranteeing a win). Scary times right now for dollar longs. On a weekly time frame, the trend is still to buy dollar, but on virtually every shorter time frame it’s to sell dollar. When the trend is conflicted like this, I’m really too nervous to take risk - especially when you can make a case for investing in either direction. If the market can establish a new long term trend, I will follow suit and should easily recapture all the lost wompum, and then some. That’s the problem though, is, if EUR goes into a sideways market, the way my algo works, I will lose my shirt (and entire wardrobe). Could be time to go trade a different pair, but, I’m biased, since usually Euro plays by the rules.
Thanks for the feedback. The point isn’t really to determine skill or luck (trust me, I get it, I’m a CFA charterholder too), the point is to really just get filthy rich. The last thing I’m going to be asking myself when I’m behind the wheel of a brand new boat, is, “Was this skill, or luck”.
Well I am not a CFA charterholder but that wasn’t the point to have you care whether it is skill or luck. The point is that if it is luck, you’ll need to win big a handful of times vs. small but many wins over time, ie skill. So if you can figure out a way to accomplish either, then hey you’re right: won’t care too much which it is a result of. lol
Ok ok ok ok ok - I’m still “UP”, but like, I have given back a SHIT ton of gains. And obviously I’m negative margin and probably going to get closed out and won’t be able to trade these big numbers anymore.
. Build up your pot so you don’t need to keep going to town with lots of leverage in your positions.
