BACK/LAY by liability, in play BOT.!shock!

Share your automation file with other users.
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elofan0
Posts: 316
Joined: Fri Jan 13, 2017 4:44 pm

wise words shaun as always and plenty caution as the old scenario goes a fool and his money are soon parted
.. its always practice mode for me ...
elofan0
Posts: 316
Joined: Fri Jan 13, 2017 4:44 pm

ive got more into the candlestick charts lately i feel thats a great way forward
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

ShaunWhite wrote:
Tue Jul 21, 2020 3:27 pm
you are well versed in programming and software development,

:) I've dabbled. Compared to some here I'm 2nd division but I did a couple of decades in fund management IT last century so I get the general idea.
it's not a battle with the market per se, rather a battle between each of us to extract some of that profit. Lots of us here have been working full-time+ for years

If I were to tell you exactly how to exploit your idea and edit your bot for you, there's going to be occasions where your order might be ahead of mine, and as helpful as I am, I'm not inclined to be sharing my wages with you on a regular basis.

I wish you luck and you're obviously keen but my suggestion would be for you to slowdown just a touch and really try to fully understand risk/reward, money management, statistics around sample sizes, the development life cycle, ways to distinguish between parameters that are irrelevant or relevant, the real world things that happen in racing etc etc. Building a profitable bot isn't something you're likely to do by the end of the year, so use this time to learn all you'll need to get to the point where that can happen, rather than bashing out random bots and making random changes hoping they'll work.

It would also be massively beneficial if you spent a few months manual trading first to improve your understanding and to generate ideas. And COLLECT data! So much more of your strategy development can be done via analysis that way, and it's much cheaper and faster. Don't worry about it not being hyper accurate because that's not relevant.
IT fund management :mrgreen:
Your experience is your greatest asset , I Bow In RESPECT, hut off.
I am your typical self taught , jack of all trades , specialist for none. I get stuck between science and arts. That’s why iam stuck on the Rat race economy with a 24 HR shift job. Leaves me very little time to sit down and trade. I spend a lot of time doing my daily routines to make ends meet.
I truely appreciate your advice. The forum is huge and full of useful info . And I try as much as I possibly can to look into topics. NOW I know where to put my efforts , I need that luck!
MAnual trading is my number one preference , but I must prioritise Algo trading, for time constraints reasons. I am looking forward to a day where I can have a bot making passive income to supplement my manual trading. This is when I shall quit my JOb and the full timers. HOPE I don’t keep too many balls in the air and end up catching none.
SILOS MENTALITY , is one of the many reasons why your profit is my loss and vice versa. I am sure the 5%that always make a killing from the rest of us all , Got that one figured long ago.
For very back order there is a lay order and one of the two is taking profit while the other one is opening a trade. It’s your choice which side you take and the exchanges don’t care , it’s you and I who choose to stay in this specified positions.
NOW my journey has to take into consideration , that most participants are SILOSES, I endeavour to be a CONTRARIAN and create an edge.
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

elofan0 wrote:
Tue Jul 21, 2020 11:15 pm
ive got more into the candlestick charts lately i feel thats a great way forward
:D candle sticks are great , especially when used in conjunction with a vwap.
I personally prefer the ATR average traded range.in conjunction with a vwap.
It’s neater and quicker to execute.
The ATR sets my entry and exit points And the vwap becomes my support in a bear market if my opening trade was at the top of the range and it serves as resistance if my opening trade was at the bottom of the range.
The only problem o have is greed , I rarely get satisfaction from a single tick profit, I am a swinger by nature.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

decomez6 wrote:
Wed Jul 22, 2020 4:43 am
I truely appreciate your advice.
My advice is just from my perspective, it's not a how-to guide and I'm not claiming to be a great expert or mega sucessful. Everyone has to use their own strengths, interests and frankly what they actually enjoy. The novely element of trading soon wears off and you don't want to end up stuck doing a job you're not liking because the whole point of being self-employed is choosing what you do and when. I initially tried manual trading for a couple of years, but having zero interest in most sport I found it dull and resented being tied to the clock and the calendar. That lack of interest led me to be wreckless and unfocused. I'd initially been drawn to manual trading simply because that's the only type of trading I'd been really exposed to via people like Peter. It's only when I realised I was in completely the wrong job that I did a 180 and focussed on automation for the next couple of years. It's ok, pretty much like the old day job tbh, design, analysis, coding, testing, version control blah blah blah but the commute is shorter and the coffee is better.

Take your influences from as many sources as possible and do what suits you, but try and do one thing at a time really well rather than dipping in and out of everything and doing nothing properly.
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

ShaunWhite wrote:
Wed Jul 22, 2020 6:58 am
decomez6 wrote:
Wed Jul 22, 2020 4:43 am
I truely appreciate your advice.
. Everyone has to use their own strengths, interests and frankly what they actually enjoy. The novely element of trading soon wears off and you point of being self-employed is choosing what you do and when.. It's ok, pretty much like the old day job tbh, design, analysis, coding, testing, version control blah blah blah but the commute is shorter and the coffee is better.

:) and you can subtitute the GOOD old organic filter coffee with a corona beer! while i get to catch ,my` corona¬ served ON social NOT ditancing.
must be a great feeling to s see a Baby BOT , grow from light bulb moment into a green money monster, .Hope that sh!t happens to me, then i enjoy.
elofan0
Posts: 316
Joined: Fri Jan 13, 2017 4:44 pm

Great info guys ..i also like to lay when the last traded price is continuously above the betangel price .. maybe that servant can be created
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

the new markers , makes its easier to visualise the ATR average true range and the VWAP . volatility is traced and tracked while congestion is highlighted, bet angel should work with boris on the corona trace and track app :)
Turbobet
Posts: 2
Joined: Mon Dec 13, 2021 6:48 pm

Hi Decomez6,

Did you ever manage to refine this bot to green up when in profit?
I have been building something similar which has had some great result but every now and then posts a big loss.
I've been trying to put a green up when in profit command in to it but it seems to miss the opportunity.
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

Turbobet wrote:
Sun Jan 09, 2022 10:31 am
Hi Decomez6,

Did you ever manage to refine this bot to green up when in profit?
I have been building something similar which has had some great result but every now and then posts a big loss.
I've been trying to put a green up when in profit command in to it but it seems to miss the opportunity.
hi Turbobet

forgot about this bot ages ago !

was new in the game and had very little experience on how the market works.
in-play markets are not the easiest to green up , especially when you have more than one runners exposed . in-play delays and orders getting half matched or not matched at all ! you can be lucky and guess the trade direction right and still end up red !
the main lesson was RISK :REWARD ratio. so make sure not to jump that gun .
----fully understand the characteristics of different market types (pre off/ in-play) , its participants and the variables that are likely to dictate the price movement.

some people are Good at technical analysis (TA) , others are brilliant at Fundamental analysis (FA) , others mix the best of both worlds , Then you get cold ORDER FLOW traders.

my mistake back then , was the belief i held , thinking you can be profitable by " Trading what you see " and i looked at the screen and i saw very promising Green opportunities
.........the truth is, you can only be profitable by "Trading what you know"

and i am still learning :)
Turbobet
Posts: 2
Joined: Mon Dec 13, 2021 6:48 pm

Thank you for your reply.
I persevered with this idea but came to the conclusion that although I could generate a high win percentage the value of the losses when they occurred generally wiped out any profits made.
Back to the drawing board.
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