Mt Rundle, Canada
Welcome to Trading Tact! My name is Wayne, and this is where I share my thoughts on all things trading-related. Every trader has a journey filled with challenges, and I detail mine below.
Growing up in Singapore, it did not take long to realize the importance of financial security. My engineering job was alright, but I knew I needed additional sources of income. I eventually was drawn into the world of trading, which is all too often promoted as a get-rich-quick scheme requiring minimal effort. In fact, the first trading book I read had the tagline ‘Make 200% profit with 30 minutes a day’. After a year of breakeven trading, I pondered the following issues:
- Countless trading strategies are being advertised, and I can never seem to emulate the performance of these ‘experts’. Are these strategies even profitable?
- Copytrading seems plausible, but most providers don’t disclose their rules, or have an uncanny tendency to underperform. How can I trust them with my money?
- I spend so much time monitoring my charts, fearing I will miss the next great signal. I have little time for anything or anyone else.
These issues led to much frustration and worry. One day I got an email from my broker about automated trading in forex. It immediately made a whole lot of sense. If I could find a way to develop my own testable trading algorithms, I could solve all three issues above. So I dived into it.
Nowadays, many software allow retail traders to conveniently develop and optimize strategies. It takes only a few clicks to add and optimize any number of trading rules. For new traders, this convenience almost invariably leads to the curve fitting trap. Staring in disbelief at my real-time results, I realized a serious literature review was required.
So I spent the next few months devouring books on automated trading. Perry Kaufman, Emilio Tomasini, Kevin Davey, Keith Fitschen and George Pruitt were some of the authors I particularly liked. I processed the vast amount of information, tailored it to suit my needs, and eventually created the strategy development process that I share on this website. It is but one of the many ways to develop successful strategies, and I encourage readers to use the information on Trading Tact as a starting point to develop their own customized methods.
I created Trading Tact to achieve the following:
- Serve as a source of information for technical trading and strategy development techniques
- Address some of the myths and pitfalls surrounding algorithmic trading
- Provide a platform for trading discourse and build a community of like-minded traders
Here you won’t find:
- Get-rich-quick schemes
- The ‘real’ way to trade
- ‘Secrets’ or ‘loopholes’ nobody is telling you about
- Other forms of BS
I hope to provide actionable insights that you can reference for your own trading.
By collectively learning, creating, and sharing, we can all benefit and grow as traders.
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Disclaimers & Disclosures
Data, information, and material (“content”) is provided for informational and educational purposes only. This material neither is, nor should be construed as an offer, solicitation, or recommendation to buy or sell any securities. Any investment decisions made by the user through the use of such content is solely based on the users independent analysis taking into consideration your financial circumstances, investment objectives, and risk tolerance. Neither Tradingtact.com nor any of its content providers shall be liable for any errors or for any actions taken in reliance thereon. By accessing the Tradingtact.com website, a user agrees not to redistribute the content found therein unless specifically authorized to do so.
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in any market. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell in any market. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
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 in 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 of which can adversely affect actual trading results.
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