MoneyTec Traders Community Forum - View Single Post - If Forex is so lucrative then why many people are not interested in this?

Toccata · 26-01-2004, 11:53

Pete and all

I couldn't reply to your new thread "Intelligent Trading System" so will reply here as this one is getting VERY interesting.

There have been comments about ignoring (or not!) fundamental data. I always ignore as surely this is built into the price action - e.g. the price will do something extraordinary on good/bad news and I don't believe that you can predict this action - sometimes it will do exactly the opposite to that expected.

I think Pete is on the cusp of something very special and I do hope that he is able to launch the product - my only caveat is that I would like to understand what it is doing even though it will be automatic. I've already told him I want to be his first customer!

I too have a mechanical system (probably nowhere near as good as Pete's) which works on forex and index futures such as s&p. I have three issues though:
1) It is 'simple' so I am always asking myself is it too good to be true?
2) It works 24hrs which makes it impractical to trade manually - too much stress as I need to sleep!
3) I haven't automated it and don't know how to.

What am I saying here? I think it is absolutely feasible to build an automated trading system which is self adapting to the changing volitility of the market and which is profitable.

What I don't know is this - if such a system becomes commercially available what will it do the the global markets? There is also an issue with 'availability' - if you are trusting this 'enigma' for your livelihood, can you really rely on a laptop on a remote connection connected through an API to a brokers system and beyond? There are lots of points of failure here so can you trust it?

26-01-2004, 11:53	#44
Toccata level 2 Join Date: Nov 2003 Posts: 91 Downloads: 2 Uploads: 0 Rep Power: 0	Intelligent Trading System Pete and all I couldn't reply to your new thread "Intelligent Trading System" so will reply here as this one is getting VERY interesting. There have been comments about ignoring (or not!) fundamental data. I always ignore as surely this is built into the price action - e.g. the price will do something extraordinary on good/bad news and I don't believe that you can predict this action - sometimes it will do exactly the opposite to that expected. I think Pete is on the cusp of something very special and I do hope that he is able to launch the product - my only caveat is that I would like to understand what it is doing even though it will be automatic. I've already told him I want to be his first customer! I too have a mechanical system (probably nowhere near as good as Pete's) which works on forex and index futures such as s&p. I have three issues though: 1) It is 'simple' so I am always asking myself is it too good to be true? 2) It works 24hrs which makes it impractical to trade manually - too much stress as I need to sleep! 3) I haven't automated it and don't know how to. What am I saying here? I think it is absolutely feasible to build an automated trading system which is self adapting to the changing volitility of the market and which is profitable. What I don't know is this - if such a system becomes commercially available what will it do the the global markets? There is also an issue with 'availability' - if you are trusting this 'enigma' for your livelihood, can you really rely on a laptop on a remote connection connected through an API to a brokers system and beyond? There are lots of points of failure here so can you trust it?