I'm loosing money, please help me

Hi Support

I know this question has been asked many times before, but that only illustrates the importance.

I'm a discretionary trader, and one of the most important issues for me is to advance in my entry and exit. Right now and in this market, I'm actually loosing money (a lot of them)

I really need some better testing/ training features in MultiCharts. Especially TickReplay!! I'm familiar with the TickReplay in NT, and sometimes I'm so frustrated that NT has something we don't have

I really like MultiCharts, but I'm loosing money using it, instead of training with NT. Sad to say I know

When can we expect to see a similar function in MC, a TickReplay that actually works, with adjustable speed and the ability to replay it using cached data??


(PS: I don't blame anybody for my losses, except my self) it's merely a way of speech)

it would be nice if MC can put some effort into their Integrated Playback promise.

I know this is a big job; it is not easy to make a good Integrated Playback.
I also know there are lots of competing priorities. This post is not meant to put undue pressure on the developers.

Do NOT trade with real money until you find a method that suits you and is consistently profitable !!!

Set up a practice account with your broker and trade with play money, when you are consistently making money in the practice account, then switch to a real money account BUT risk only a very small fraction of the real money in your account, maybe 1% per trade.
Wiping out an account with untested methods is what causes 90% of traders to blow out their cash accounts within the first year.

Forex factory is a fun place to exchange and test systems both mechanical and discretionary.
http://www.forexfactory.com/forum.php

I have no association with them but enjoy getting ideas from them.

Do NOT trade with real money until you find a method that suits you and is consistently profitable !!!
...
Forex factory is a fun place to exchange and test systems both mechanical and discretionary.

brodnicki -> That's not really the isssue here, thank you for your collaboration though

I don't know how long you are at it and few will tell you directly but some of the best traders in existance have elluded to the fact that it takes about 5 to 10 years to learn to trade (just to a survival level) (and I suspect those who get rich at it have been doing it a good 15 to 20 or more). Few make it because they don't have the money, the drive, nor the analytical ability to figure out how the market works and ultimatelly continuing long enough to become confidence in the system they end up with. Its a rare person who can do it faster than this but these ones may have tips from others who have been there too. On a related note there is a great book by John Hayden. I think he is the one who said in his book "Congragulations, you have entered the most difficult buisness in existence". I will never forget that. He should know because he was the director of risk management at a major brokerage firm and will have all the statistics at his finger tips. To me that is great because it offers something to really sink your teeth into. One thing, before you do huge amounts of programming I think you need to be able to make money without a fully automated trading system. Manual always come first. It has to be that way. A great trading approach will stand out so much that you don't need a computer to give you all sorts of numbers to figure it out. It will be blantantly obvious to the naked eye if it is a great system. MC is great. For me it is a work load reduction tool mostly. Maybe in time I can get a fully automated walk away system in place. Another great trader says that a good trader is cautious. Another books says that the really great ones have a major conflict between their fear of the market and their drive and work their brains out to get so good that they eventually overcome the fear. That makes a lot of sense. Fear is good at the beginning (keeps your account intact). In the end it must be overcome. Yes I agree. Don't apply real money until you know you are pretty dam good at it.

bowlesj3-> Thank you for your reply, I couldn't agree more with you!

But that isn't the issue right here and has nothing to do with the topic, the topic only consists and should only be regarding the TickReplay and nothing more

PS: It all comes down to screentime, screentime and more screentime when striving for succes
Now you mention it, I cannot help answering this *LOL*, but I would never program MC for autotrading, nor I cannot understand why so many people thinks optimization is amazing, IMHO optimization sucks and a trading system should never be optimized. However the majority of new traders thinks that this feature is indispensable and for such I will leave it up to each person to do his own experiences.
I hope you better understand my motives for TickReplay now hence "I'm a discretionary trader, and one of the most important issues for me is to advance in my entry and exit."

I agree, the tick replay needs to duplicate the bars exactly has they occured during the trading day even when it is made to go faster or slower. Unfortunately if it is taken to the highest speed it crams all of one days minute bars into much less bars.