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torero
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Everything posted by torero
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This on what timeframe chart you're using to get 95% and 85% accuracy? I had tried it (maybe coded differntly) but wasn't convinced enough to trade it.
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Hi Biegea, I just upload the Tick Countdown indicator here: http://www.traderslaboratory.com/forums/f46/tick-bar-count-down-1992.html
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I got this code from the TS Forum. Here's the tick counter as requested. TICKCOUNTDOWN.ELD
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Russell 2000 is a composite of 2000 small companies (similar to the S&P 400 small cap). There is also an index in addition to the emini. You'll need about 3350$ minimum to trade but more if you don't want margin call (nowadays, the platform just exit the trade for you immediately).
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I was trading WU07. I had some trouble in the beginning trying to find the month with the most liquidity and market depth. I had to stay away from Soybean Meals. Soybeans and Corn were a little wacky too. But found WU07 to be ok. I wanted to trade WN07 thinking there would be no limit lock down but the volume dropped alot. I only use the @W or @W.P for month and weekly charts.
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Did anyone see what yesterday? It GAPPED an equivalent of 30 points on the ER2. But the best was it actually FILLED the dang gap and went further down! Wow. Now this is real summer action!!!!
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If you find a confluence of other indicators with the important pivot levels such as fibs or S/R levels, then there is higher probability the pivot will hold (at least more than pivot without other indicators support that same area). I tend to use pivots with a grain of salt. But if it coincides with fib levels and HLOC of previous day, week, month, then chances are better.
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I'm a cocktail man after a hard day's work. But occasionally, I'd have a nice small shot of bourbon, no ice, Southern Comfort or Four Roses (smooth and lightly sweet... good stuff). Of course there are some nice real whiskey, either scottish or irish, depending your inclination. My next objective is to try the Johnnie Walker Blue Label, I heard it ain't cheap (I believe the bar down in Spain charges 85 euro a shot). That would be a treat when a nice day of record-breaking win for me (ha ha ha).
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I used to do that before electronic trading became the standard. The problem with electronic trading is that you have total control from start to finish, so everyone tends to handle the trade in some way that is within reach. With the broker by phone, once the order is in, nothing can be done (unless you call him back repeatedly asking to change the order, he'd be p.o.). So phone broker might do the job for some. Trading is about total control of ourselves. If we fail in some parts, we lose. The other extreme is to invest money in a fund and let others do the trading.
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I am not saying you shouldn't look into it. I encourage it and find the answers for yourself. Just my limited observation on this area that steered me to other approaches.
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Hi Alan and welcome to TL. Wish you the best in your new trading life and hope you find what you need and eventually you can contribute your thoughts and experiences along the way here. You have a great background from fundamental analysis now to the other side. But I'm confused why you think you're still mentally weak being in a trade when you seem to have done this in the past. I figured you only need to papertrade to get comfortable with the new system and find out if it's profitable (in any case, papertrading doesn't properly prepare you for the psychological stress like in real trading) and getting used to trading the new instruments. Do you plan to trade stocks or futures or currencies?
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Very interesting article, yes more scientific, but I don't see it as a negative. It's a good comparison to see how different traders make their decisions. I do have a question. Speaking of synapses being created and strengthened every time a new experience and reinforcement of that experience is done, so when traders move from one trading system to another, these never get strong enough to be reinforced properly. But the biggest thing is the association of money and losing and winning strategy. How does one go about disassociate them and build synapses to reinforce that? Any thoughts?
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I used a few things to measure volatility: price channels, ATR, Bollinger bands, and Keltner. They are useful in some ways but not in others. About candlesticks, one thing I've done wrong with them was identifying setups based on a single or 2 candlesticks. These i found out led to alot of false signals. In mining, it's better to group the bars at least 5 or more and describe them in more details before the false signals are taken out. One or two bars cannot say much when 50-60 bars have already been voted, even if they are tops or bottoms.
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TRADING STYLE: Day trading and scalping. TIMEFRAMES: 600 tick, 3000 tick, 60-min, daily, weekly, monthly FAV MARKET: ER2, Ags TRADING PLATFORM: Tradestation BROKER: Tradestation, MBTrading TRADING TOOLS: price, volume, Force Index, trendlines, price patterns FAV SETUPS: Low/high failure and higher high/low or lower high/low BEST TRADING ADVICE: "it's against human nature to succeed in the markets"
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Summer is the worst time for me to trade: kids at home, market volume lower than normal, beach is way too near. Just walk away and be happy and look forward for more peaceful days without interruptions. I paid the price for trying to sit through these types of days so better save my sanity and money for other days where battles are worth losing money.
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I think it comes down to having already battle-tested the strategy to know which targets or no targets make money in the long run before trading it. I personally set targets but many times I try to stick and let it run its course even after it has reached targets but convince myself to stay on the trade. There are days when i do want to kick myself in the ... but those don't come often enough in ER2 stomach through breakevens and/or stop losses more than 80% of the trading days. Just my personal perception.
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It's best to start with YM. ER2 is very volatile. ES has too many pros in there, it's good if you trade large lots.
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Looking back, my first mistake when I first got involved with program trading was I got so excited seeing all these $$$ after running a few tests I put it on real trading right away. Took a week to realize what I saw and what I thought I saw was completely unrealistic. Lesson learned: if it looks good and easy, double-check, triple-check and test it from all angles and read the forums on program trading as much as you can before taking it for a real spin. There are tons of traps imaginable and unimaginable.
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Wow, amazing story. I didn't get interested in the stock market until I got to my freshman year in college and I thought it was early. Great to hear alot of passion so young. Great article, James.
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I'm torn on siding with or against ws' comments. It's true it takes alot of time to come up with something useful enough to even consider trading it real time. Even then, these are not suitable for daytrading (swing or higher). Having said that I've found a few systems through data mining but took me a 2 years drudging at it. So, if you have time and 2 years, then learning this side of trading is very valuable. These data mining finds have to be done with extreme care (ie. very skeptical) or it'll be your $$$ with a wrong assumptions or operating with full knowledge of the matter involved.
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We all tend to do that while waiting for a setup to appear. This distraction can be a good thing to reduce overtrading and get out of overtrading. It's ok if you already have your trading plan laid out for the day and just set alarms, if this is appropriate for you. This is what I do now, set my alarms at levels I see as relevant to my setups according to the trading plan and let the market do its thing until it's my turn.
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I tend to stay around the overlap between Tokyo and London sessions where volatility and movements are decent.
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Between 2pm and 2:15pm, volume tends to increase. I've noticed in the past at 2pm sharp, there is program buy/sell (right on the hour). Sometime it's enough for the market to take that cue and push it and sometimes it doesn't do anything. Watching that from the tape and charts should be sufficient to cue you on the possible activity of what's coming ahead. On ER2, it broke down from a range made during the morning, so it would have been a short there. CNBC and pit noise may or may not help but charts do it just as good.
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Very interesting concept. There are trading contests out there, but not in the pit style like the one above.
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Very interesting Mark. I've only started a few months ago and I can see some improvement, but don't have a clear idea on what to look for when watching the video. Maybe the audio will help tremendously. I assume you self-talk into the mike from start to finish right? Please provide any info as I think this is the right way to improve. Thanks.
