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sevensa
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Everything posted by sevensa
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What Would Have Been a Good Way to Trade Today (monday 7/27)
sevensa replied to TraderFoo's topic in E-mini Futures
The best way would have been to have followed your trading plan. Does your trading plan say to make your stops wider? How about stop trading after x number of losses/ticks? If you had a trading plan, you wouldn't have to wonder what you should have done differently today as you already would know that just following your plan is all you need to do and that losing days are just part of the business. -
Why don't you take up the challenge?
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Yes it exists. A simple google search is all you need to find it.
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This would be difficult for anyone to help you if you don't give a description of what the issue is. At least the error message you get and the steps you have followed would be needed.
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How to trade on the FOMC announcement
sevensa replied to nicknextmove's topic in Market News & Analysis
I don't, but I use Econoday every day to look at the economic reports scheduled for the day. Econoday James also has a decent economic calendar under the Toolbox here. -
Why wouldn't you trade grain anymore? Based on your post, your loss had nothing to do with the market you have traded, but everything with being over leveraged. If over leveraging is your problem, trading a different market is not going solve that. You will lose money fast in any market if you are over leveraged.
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Hi Blowfish He has asked the same question in several threads on here and my reply was in another thread and is still there. Not sure why he would think asking his friend is a stupid idea though. :hmmmm:
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Why not get it from your friend?
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Software for Generating Reports Based on Various Indicators/Events
sevensa replied to davewolfs's topic in General Trading
Tradestation is probably the most popular choice. If you are experienced in programming, you probably would not have much difficulty picking up the other platforms' language. I would suggest to check out NinjaTrader as Tams suggested. It uses C# which should be an easy transition for you since you know C++ already. The current version is not very robust for backtesting, but the next version (7.0), to be released before the end of the year promises to resolve most of the issues. Check the release notes on their website. Also check out Amibroker which is very flexable and also easy to do portfolio level backtesting and very inexpensive compared to other platforms. Another platform that is very flexable is Neoticker, but not easy to program in. However, if you have a strong programming background, you might not have much difficulty. All these platforms will give you what you are looking for. Best would be as Tams suggested, to download the trials and see which one speaks to you. -
Something like that should work: vars: MP(0), StopLoss(0); MP = MarketPosition; If MP[1] <> 1 and MP = 1 then {new buy} begin StopLoss = LowestLow(Low,4); end; Sell next bar at stoploss stop; If MP <> 1 then StopLoss = 0; {Reset StopLoss value when flat} Probably better ways to do that, but should give you something to work from.
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You are right that it feels like an unfinished product. The problem with the TSSupport guys are that they continue to implement new features without making sure the ones already are implemented work bug free. When something work about 70% they check it off and list it as a feature on their website and move on to the next feature. The end result is a product that continue to feels like a beta version with lots of features that almost work and very little that works really well. A real datafeed would not have made a difference. You can just read on their forum all the recent issues there still were with esignal and iqfeed. This is mindboggling that after more than 5 years they still did not have a solid implementation to handle realtime feeds. Something that should be the first thing that should be rock solid in any realtime charting application.
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She almost doubled her account in less than a week. You should be happy. Maybe time for you to retire and let her do the trading?
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I have heavlily critized them in the past and pointed out some serious flaws in MC, but they referred spefically to this post on TL for their reason. They have become increasingly more and more defensive and agressive against any negative remarks against them. My advise would be to stay away from them and save yourself a lot of trouble. MC is good and convenient with it's EL compatibility, but that is about it and the issues you see with it now, will not be resolved anytime soon. I guess it is time for me to brush up on C# and give NinjaTrader a serious go. According to the release notes for the upcoming 7.0 version, this looks like it will be a big and impressive improvement over the 6.5 version and C# seems to be a lot more flexible than EL with regards to coding, but also with a steeper learning curve. Same with Amibroker which is incredibly flexible, but AFL is not the easiest to learn.
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BlowFish, careful to agree with me if you still care to use MC. TSSupport have decided to revoked my license, refunded my money, called me an enemy agent and suggested that I find an alternative after I dared to say that their support is not as great as it appears. I guess in a way that supports the point I was trying to make.
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I am sorry, but I cannot agree that their customer support is outstanding. Yes, on the surface they appear to be great, but if you take a closer look, you will see they only reply quickly to the easy questions that have easy answers. For more serious bugs and issues, they get very defensive, then either ignore them, claim it works as designed, make you jump through hoops to prove to them that this is a real issue and when they cannot deny anymore that this is a real issue, they give you the vague answer that this will be solved in one of the feature versions. Some of these issues have not been resolved in years. Having said that, if you want to use it for basic charting with simple indicators and not for any of the other features they advertise on their website, it is a pretty decent product that support multiple datafeeds.
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I am not Eiger, but I see an immediate reversal the bar after A at bar 1, indicating potential strength, a no supply bar two bars after that at bar 2, followed by another no supply bar two bars later at bar 3, followed by a test immmediately after that at bar 4. However I think this was a risky trade as all this action happens just below the broken support and upside potential was limited due the closeness of the day's high. However, the price action indicates that a test of the day's high was likely to happen but taking quick profit would have been wise at the grouping of 4 bars stalling close to the high with weak closes that just couldn't go higher at 5. You have to take what the market gives you.
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Very sorry to hear about your job. Just some words of caution. Trading is not a quick path to riches and take hard work and dedicatation to learn. Just as a person graduating high school has to spend a few years in college before getting a halfway decent entry level job somewhere and then another few years to start earning a decent salary, can trading take potentially many years before you start to earn a decent living from it. This is not to discourage you from starting on this journey. Just don't expect to replace your monthly income lost with trading in a month or two. Either way, this forum is a great place to learn and I wish you the best of luck.
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Those who advocate that market do not like up or down bars on high vol consider this a sign of potential weakness/strength and to start looking for confirmation. Not as an automatic signal for trend reversal. Amazing how people just cannot let an opportunity go by to snipe at VSA. For the life of me I just do not get it. If you have something working for you, why the need to make negative remarks at other methods? Everyone trades differently and there are many different ways to trade successfully. There is no need to be derogative about other methods that are different than yours.
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As much respect as I have for you, unfortunately this is not helpful at all. Eiger's first post was helpful, regardless if this is called a spring, springboard, iron board, or any kind of board, but you managed to dilute this into a back and forth about silly things like terminology and who said what and when. Please just let this thread be without feeling the need to interfere each time. We all know your feelings about Wyckoff and VSA. No need to repeat this over and over and over.
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Would you be willing to share this? I have something more basic, but is not clever enough with Excel to automate everything and is doing everything by hand, which is kind of a pain to do.
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Hi DGC I don't have an answer for your questions, but you might get more responses if you post your question over at the Wyckoff forum. Probably would be a good idea to read the forum also as their is a wealth of information and you might find that you don't need to purchase any courses after that.
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Just let it go. The points for and against TG was made over and over very clearly. Please let this thread stay on track for the people who are interested in it. If you are against VSA and/or TG then simply don't read the thread and focus on things which do interest you. If you think VSA/TG is misleading people, instead of telling everyone how bad it is, open a new thread to show and educate people about how they should be trading.
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How about looking on the Eurex website to get the contract details and plot the charts with ATR to see what it looks like? Risk/Reward and indicators is market independent and is based on personal preferences and risk tolerance. Use whatever you are using now.
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I don't see anything about monitoring in your opening post. Based on your previous "reliable forecast" thread, which turned out to be very unreliable and of very little value when analysed, you should expect to be questioned on your reasoning when you give recommendations as you don't have a very flattering track record on here. I am inclined to think you are just here to eventually promote some kind of paying service. As I have asked before, what is your real purpose for posting these recommendations since you are obviously not doing it to be helpful in any way?
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I haven't used the indicator in a while and actually has used it very little. However, my guess would be that divergences would be one of it's strong points, just like with regular TICK when it doesn't confirm price movement.