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Reddit mentions of Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups

Sentiment score: 4
Reddit mentions: 5

We found 5 Reddit mentions of Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups. Here are the top ones.

Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups
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Found 5 comments on Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups:

u/capybara-trades · 5 pointsr/algotrading

( please guys have fun with my answer, obviously a lot of things here are jokes. take home what fits you ).

AFAIK There is actually one OTS online platform for trading crypto, which is very buggy and have a very amateur community ( even veterans on that platform are generally noobs ), the backtest isn't even close to realistic unless you somehow compensate the slippage and some other "real life" problems ( i'm far from having the magic sauce myself, but i can tell when shit smells funny ).

Don't even try to use one of the fast bots available there, they will generally just loose your money quickly before you can actually realise wtf is going on. They have a market place with paid the strategies and they are generally very unreliable, specially because the norm is to hide the source code of the paid strategies and post backtests - not live links -, so basically it could be just a fake strategy doing the other side of the creators trade not to say backtests are generally far from the results you get in the real world, at least the backtests in @ cryptotrader.

The support is very poor and slow, some questions are simply ignored and the UI is lame ( euphemism here ), http://cryptotrader.org

Still it's the only algo trading platform for crypto i manage to have running 24hours to generate some profit while i'm building my own - so far i'm only trading ETH margin on poloniex because of it's volume.

The good side is that the language used for the bots is coffee script which is one of the most pythonish languages out there 😉

I'm a beginner myself but i already have profitable bots earning consistently ( i had to learn how to do my own after only loosing money with the famous bots out there ).

Other relevant comments:

  • Quantopian backtest engine is python based and actually open source: https://github.com/quantopian/zipline

  • Even tough quantopian doesn't trade crypto, they have very valuable tutorials which you will surely benefit from: https://www.quantopian.com/tutorials/getting-started their youtube channel is cool: https://www.youtube.com/channel/UC606MUq45P3zFLa4VGKbxsg/videos and also make sure you try out their IPython examples, they are pretty fun: https://www.quantopian.com/research/Tutorials%20and%20Documentation

  • If you like python you probably know you should stay away from .NET and Java and C and whatever other boring languages people might recommend you, python is cool and awesome, you don't want to spend your time typing irrelevant verbosy stuff, you want to react and test stuff quickly - and have cool friends, .NET and Java programmers are notoriously the most boring people around. There is a couple of other nice other languages available, but it's not important to talk about this now.

  • IMHO you are less likely to make good stress-free money with algo trading if you have a very academic approach , you might end up trapping yourself into parts of the business that won't make a big difference in your profits, obviously, studying is always good and you can always learn something from anyone and anything, remember: learning what not to do is actually learning too! not to say you won't probably learning without burning yourself a little bit. The market is 24 hours so unless you know what you doing you will probably end up not sleeping loads of nights.

  • IMHO, HFT is a no go because the rate limit on important API functions is generally ridiculously limiting AND unless you have a lot of crypto to trade ( therefore paying less fees or no fees ) or a very very solid strategy the fees will eat you.

  • If you want to get inspired, watch videos on youtube about algo trading, good keywords on youtube are "Ninja Trader strategy builder", "metatrader expert advisor", etcs.. there is always something to learn from those videos.

  • You will eventually find other options, like this: https://www.youtube.com/watch?v=2at6ZzRIIhc but they generally sux balls big time, or aren't just relevant anymore ( generally both ) or are never released: http://cryptybots.com

  • Leonardo looks great, but it seems unfinished ( i might be wrong ) and i'm not sure to which degree you can create your own strategies in here: https://www.youtube.com/watch?v=hib3xR6Ci1w&feature=youtu.be

  • Since your most important skill will be "making profitable strategies" i reckon you should understand trading to a degree you won't blow your account in a couple of weeks. This book will probably help you out: https://www.amazon.co.uk/Mastering-Trade-Second-Techniques-Profiting/dp/0071775145 ( there are loads of other books you can find for sure that might suit you better ), goes without saying you should do your home work and learn a lot about indicators so you start grasping the basic building blocks and start thinking for yourself instead of being a script kiddie.

  • This market is about money and if someone is rich with algo trading someone probably wouldn't be around giving advices for free, so trust no one other than you, if they are talking too much either they don't make money or they just had a line of coke. Don't even trust me!!

    To wrap it up:

  • I'm willing to help and team up with smart people if think that would be a good idea, please get in touch.

  • If You plan to level up your learnings in no time i would be willing to give you a crash course on how to trade ETH on poloniex exchange for a donation, give you some basic ideas and code and then we take it from there, we can then potentially become friends and create stuff together if we see turns out to be interesting for both of us.

  • My email is capybara.trades@gmail.com feel free to get in touch if you feel like:

  • You want to become a friend
  • If you would like to buy some of my time and experience in form of an "easy and fun to learn" masterclass
  • If you don't know how to code but want to do automated trading and you willing to pay for some basic programming classes

  • If you found any of these information useful, don't feel shy send me a btc tip @ 1DNvZwFpFj9C6YNf9bAhx5bQd66RssXbyp ( pro tip: every time somebody tips me Justin Bieber dies a little more )
u/battlethroat · 2 pointsr/Daytrading

I’m currently reading this book by John Carter. I’ve found it to be very good, even if repetitive at points.

Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups https://www.amazon.com/dp/0071775145?ref=yo_pop_ma_swf


I’ve also read Trading in the Zone (Douglas) and How To Day Trade for a Living (Aziz) which are also good.

u/mister-tinkles · 1 pointr/wallstreetbets

I know a pretty good book. It might help.

u/WackaRat · 1 pointr/technicalanalysis

TTM squeeze is just one of a few setups I use and like any other indicator it works great except when it doesn't. John Carter makes it sound way too easy having a bunch of red dots telling you to get ready to buy in. Having said that when I do trade it, it can return 100%+ on option trades.

If you're going to look into it you'll need to use it as a confirmation for price action; make sure there's a trend happening and set your own price targets. The last trade squeeze I played was for FB just a few days before the daily breakout on 6-Sept. The stock had been trending up for months and was testing 126.50. It then broke up $4-5 and my options went from $2 to ~$5.

When backtesting I found it works well for FB, AAPL, NFLX but sucks with DIS, IBM. I experimented using it on TSLA 1min charts during the first hour of the day but have since let that one go coz TSLA is crazy.

But yeh I'm still playing around with it to get a better hit rate, mixing it with MACD, 8EMA etc. If you haven't already, read John Carter's book, Mastering The Trade:
https://www.amazon.com/Mastering-Trade-Second-Techniques-Profiting/dp/0071775145

It has a heap of great setups that I have since started using and seem to work pretty well, if you have an idea of what you're doing.