Uli Schmuli

I'm assuming if you are using Tradestation, that you use their forums. I posted a topic describing a big difference between using 1 tick vs 1 minute resolution in Range, Kase & Momentum bar strategies. https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=93791 Uli

Dyos, what the heck are you talking about?

The reason plot[1] is used for the range bar is because when using tick data input, you don't know if a bar is closed until the range has been exceeded on the next bar. So, if a range has been filled, then the proper place to plot the bar is one bar back. You do realize that range bars are now one of the chart types that can be selected, yes? In other words, range bars are now part of the Tradestation platform. I wrote this code as a workaround until they released a version that included range bars. While is may seem that with the native range bars in Tradestation that this code is now obsolete, it does have a useful purpose. If you are running a strategy using a range bar chart, you cannot use intrabar order generation. The code I provided allows you to take action within the current bar, effectively allowing you to generate orders & other actions "intrabar." Also, I would like to draw your attention to an error in the code. A new bar generated by this code creates a range bar that has the same open value as the prior bar close. This is not correct. The open should be 1 tick above/below the prior bar close and the bar range calculated from there. Uli

I get 2 ticks slippage on the TF about 90% of the time during regular hours trading. I'm using Tradestation. Is this an issue with the broker, the exchange or the platform? Is it just the nature of the thinner market? Is anybody else experiencing this? Thanks, Uli

However, there is a place for affirmations. A belief is just a thought that you keep thinking. Affirmations can help to change one's thoughts and therefore one's beliefs over time.

Gandalf, It's not the thought of losing per say, but it's the feeling. You can say affirmations all you want, but what you FEEL is what is responded to by the universe. Take the example of prayer, not that I'm religious, but it's a good example. When people pray for something, it invokes the FEELING of that which is wanted, and that is what the Universe, God, All That Is - whatever you want to call It - responds to. Praying desperately without connection to the feeling of having what is wanted is just called worrying. Uh oh, I can sense some flack about to begin :crap: LOL Uli Schmuli

Call me a slow learner, if you will, but it took me six years.

I don't care who you are - before the manifestation of successful trading came the thought of successful trading.

Attached is what I use to do what you are asking in Tradestation. This is very simple code that I've written with an input to select which color you want to display for a bullish bar and which for a bearish bar. BARTREND.ELD

Pro: Virtually unlimited income Con: Uncertainty

Jeffx, I really liked your post about using CCI to determine chop. I just wanted to add that if one has determined that the market is in consolidation (chop) then the CCI becomes non-relevant. CCI readings on breakouts will often very suddenly exceed |150| Uli

I run an automated system that for the first six months of this year has returned 450% (trading Russell 2000 index futures using $2k margin per contract) This strategy wins about 55% of the trades that it takes. At times, when I see a trade that will trigger, and it 'just doesn't look right' I let the system take the trade anyway. I know that over time the parameters that I've defined will ensure that each trade taken will be in my best interest. The only reason that any trader can make money is because there are patterns that repeat over time, and specifying these patterns is known as 'defining your edge.' If you don't have an edge defined, you are just gambling. Hope is not a strategy. I would recommend Mark Douglas' book "Trading In The Zone" if the concept of the probabilistic mindset is not familiar to you.

I use range bars in my trading, and chop (consolidation) is identified after only two bars using my technique. 90% of my trades are taken only on pivot confirmations, as explained in this video I created. Created with Camtasia Studio 5 Uli

Detachment from the outcome is what did it for me. A good trading plan executed with precision & consistency will allow that detachment because you have complete confidence that your edge will prevail over time. I'm thanking everyone in this thread for some really great posts.

Just one distinction I'd like to make about greed & fear: There is no distinction. It's all fear. Greed is just fear of missing out on profits. One need only conquer fear in all its forms to be successful. And if you are 'trying to conquer fear' you are not yet there. It indicates that you are still fearful. It's like this: Many people say that trading requires discipline. However, requiring discipline implies that you have a problem with consistency. I no longer practice disipline, I only execute my plan. Period. No need for discipline. Now you may think this is only a difference in semantics, but I assure you it is not. The vibrational difference (energy) between "Practicing discipline" and "Executing with perfection" is very great.

It doesn't matter who teaches it, but creating a trading plan is absolutely the most important aspect of becoming consistently profitable in trading. Woodie teaches this, as do many others. I paid $12,500 for this education and if I had found Woodie first I'd still have that money. It's not so important what the plan is, as long as you have one that is backed up with statistics and it suits your personality. Mark Douglas in "Trading In The Zone" talks about assuming the 'probabilistic mindset.' Your trading plan is your edge. If you have an edge, you really don't care if any particular trade is a winner or a loser becuase you know that your edge will prevail over time. I would guess, based upon the many many conversations I've had with traders, that about one in ten actually has a trading plan. (You know who you are, people.) Often when I ask "Do you have a plan?" the response is "Yeah, in my head." To me that means, "NO I DON'T HAVE A TRADING PLAN." When I teach people to create a trading plan, I break it into three parts: 1. What do you use for support & resistance levels? This can be broken down into two categories: Static & Dynamic levels. Static levels are those which do not change during the trading day (e.g. Floor trader pivots) Dynamic levels change during the day (e.g. Moving averages) 2. What triggers a trade entry? This is where you determine which markets, charts, timeframes & indicators you use to define your setup. Part of defining your setup is the trade entry trigger 3. How do you handle money management? This is where you define your stops, targets & other exit conditions. If you have all three of these elements defined so clearly that a programmer could take your specifications and create an auto-trader program, then you have defined your trading plan clearly enough. Woodie defines all three of these elements in his trading methodology, which is available on his website. The remarkable thing about his system is that while most people define support & resistance with price bars, Woodie uses an indicator (CCI) to define it. I trade his system, but with my own modifications. His methodology alone can make money, but only if you put the trades on like a machine. This is because some of the most ugly looking setups are the biggest money makers, and some of the prettiest ones that come along during the trading day can be losers. The bottom line to success: Have a trading plan, and then trade that plan only.

Minoo, I believe I can say what you have said in one sentence: "Plan your trade, then execute your plan."

I've found many traders who profess to be consistently profitable, but are not willing to share actual data. I've joined local meetups of traders, and still all I find are losers, still trying to learn to be profitable. Even if I found a mentor who charges for services, I would still want to see records of trading activity over the last year to convince me that their fees are worth it. I was lucky to find a mentor in my darkest hour. This man spent about 60 (Not a typo) hours a week with me for nine months. That just doesn't happen normally. He never charged me a dime. It was simply an act of kindness on his part. Be honest about your situation and you may attract somebody like that.

I think that for most traders that if you stick to your plan you will be successful. Therefore, performance should be measured in how well you stuck to plan. My most important metric is trades taken without a valid setup. Response to wife/other could simply be in terms of performance with respect to the plan. Money will take care of itself. Andrea Toghairae (spelling) featured this subject of reporting to your spouse in one of her interviews that I found on Woodie's website. She covers how often, what to include, etc. The frequency and information varies depending upon your relationship, and she talks about that. I've tried being accountable to a partner and it has never worked. Ultimately, being accountable to anyone is just a tool to get you to execute your trading plan without those ridiculous lapses in judgement that cause you to stray from the plan. Regarding discipline: Discipline is only required if you have bad habits that crop up. I no longer practice discipline, I just make sure to only practice good habits.

Just curious - why 'squeeze more out of the ER2?' If you've been profitable for 7 years, why wouldn't you continue to do what you've been doing, just with more contracts? My most difficult challenge with trading has been consistency. The number one impediment to my consistency has been discipline or 'changing lines' at the bank, i.e. switching strategies. You have all I ever wanted consistency and a great track record. Looking forward to your reply - Uli