Nov 22, 2016 | Pre-Market Discussion
When I first got into trading it was hard to know where to start. After countless books, websites and listening to self-proclaimed “gurus”, I had to admit…I was still lost. It was only when I started talking to other engineers who, like myself, also traded, that I really started to pave my own path into better understanding descriptive technicals of the market. It was that collaboration with scientifically-minded peers—not a single expert or trading “guru” —that boosted my own confidence and rocketed my education.
Over time I had gathered so many tools and resources. I had folders full of spreadsheets I made, platforms with studies I designed, drawers full of trading notes galore. And I wasn’t the only one, my friends had done the same! We had all sorts of ideas and tools we wanted to share to help each other out. There just wasn’t a way to do so until now.
That was my aha moment which led me to create Day Trader Paradise. I set out to create a collaborative community purposed to assist traders in finding like-minded counterparts, and facilitate a culture of education and sharing of technical perspectives. By using the combined strengths and experiences of the team we could build and test additional tools together for the entire group to benefit from. It took a team of scientists to put a rocket on the moon after all, so why not have a team of traders executing the same level of diligence?
We are not licensed professionals. We are not brokers, we don’t offer trade recommendations, investment advice, text alerts, newsletters, or any of that “guru” type stuff. Nor do we guarantee success in trading. We are something better: normal people just like you. Scientists, programmers, engineers, teachers… What sets us apart and puts us ahead of everything out there is our insatiable thirst to decode the market.
We’ve thrown out our old books on technical trading—they don’t work anymore. It’s a new market for the new millennium. This new market is run by computers with high frequency algorithms under the hood. New techniques in technical analysis are needed to follow what they do. And as a team we’re reverse engineering the data to invent them. Day Trader Paradise has created a new paradigm for powerful modern day technical indicators and algorithms, and together we are inventing even more.
Working with a collaborative community has had such a profound effect on me as a trader, and I hope it can have a profound effect on you as well. I am not a market expert and I am certainly not a guru… I am just another trader like you. And I believe that through collaboration and crowdsourcing ideas the sky really is the limit.
Welcome to paradise!
– Matt Cowart, Founder & CEO of Day Trader Paradise
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.
One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading.
For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.