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sevensa
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Everything posted by sevensa
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TEMA is a function which is not included and you will have to create it. If you create a function with the name of TEMA with the code below this should compile. Disclaimer, I do not use this, but I think the code is correct for TEMA. Please verify and confirm for yourself that it is. {Function: TEMA} INPUTS: PRICE(NumericSeries),LENGTH(NumericSimple); TEMA = (3 * XAVERAGE(PRICE,LENGTH)) - (3 * XAVERAGE(XAVERAGE(PRICE,LENGTH),LENGTH)) + (XAVERAGE(XAVERAGE(XAVERAGE(PRICE,LENGTH),LENGTH),LENGTH));
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Hi BlowFish I am sorry if this sound like I am nitpicking on the posts here, but this is really not my intend. What is a 1 tick constant range chart? 1 tick chart I understand, but the "constant range" part confuses me a bit. Constant range charts to me means that the bars are all the same range, but I don't understand how that will work on a 1 tick chart. Did you maybe mean just a 1 tick chart with volume histogram?
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Wouldn't volume coming in quicker result in NOT a spike, since the bar will be created quicker? So you would look at the troughs instead of the peaks in the histogram.
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I don't agree with this statement. Just looking at risk:reward, is looking at only half of the equation. The higher your accuracy, the less your risk:reward needs to be to be profitable and visa versa. You need to look at expectancy and not just risk:reward.
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You can fine the information on the CME's website. http://www.cme.com/trading/equity-index/us-index/e-mini-sandp500_contract_specifications.html and http://www.cme.com/trading/equity-index/us-index/sandp-500_contract_specifications.html
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You can assign probabilities and projected start and ending of anything, using any kind of algorithm. How accurate that is, is a complete different matter. Care to post a few charts with your probabilities assigned of future congestion and of charts in congestion with your forecast on when it will end?
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Have you thought of looking on their website?
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Because it is less effort if someone else do it.
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What is your definition of a bad trade and a good trade? If you follow your trading plan and rules, there is no such thing as a bad trade. If you mean Profitable:Unprofitable Trade ratio, you know that this ratio is pretty useless by itself without knowing what the risk:reward ratio is as well? Frequency of being right is far less important than expectancy.
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Doesn't your statements above and from an earlier post that you are in the 5% profitable traders contradict each other since you are frequenting discussion forums?
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So, you are just doing optimization on the fly. This is practically the same than optimizing over the last 30 days and repeat this every day for example. There is no way to pick the best value at the current moment without looking at the past. Just because you do it dynamically and doesn't want to call it optimization, does not mean it is not.
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How is that different than optimization?
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My biggest problem with the statistic is the definition of a trader. Just because someone has an account, does not make him a trader. If 10 guys decide to buy themselves planes and 5 take lessons and learn to fly and the other 5 do not do anything and jump in the plane and crash promptly, would that be correct to say that 50% of pilots crash even though the 5 which crashed clearly were no pilots, but just fools owning a plane? Someone opening an account with no experience nor any interested to put in the effort to learn how to trade is not a trader, but a gambler and should not be included in these statistics.
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I can't say that I agree with this. Not all techniques work and if your technique is not profitable, you can follow the rules and be as consistent as you like, but you will still lose money. Consistently so. There are many profitable techniques with more losers than winners and becoming more experienced is not going to change that. Having more experience will just help you accept that and realize that being profitable is more important than being right more than you are wrong.
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If something is too fast, increase your timeframe. ES is trading on the GLOBEX (CME Group).
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Yes, this is how you enter orders with IB if you don't use any 3rd party order management applications. Of course you would need an account with them to use it.
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By definition any indicator dedecting trending/sidweways markets will be slow and lagging and it can only tell you that the past x period was sideways, but it doesn't tell you anything about the future. The only way to accurately detect a trend/sideways market is after the fact. Unfortunately you will never know early enough if a market is trending/sideways. This is why trend following systems have such low winning percentage, because they assume all breakouts will be the start of a trend and they keep cutting losses until they hit a trend.
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Just be careful with the indicator. It look amazing on static, historical charts, but real time it lags a lot and can only identify the swings after it was formed. Just monitor it real time for a day on intrady charts and you will see what I mean.
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How do you know it will be free forever? Do you work for them?
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I don't have Jurik's MA's, so I have used EMA's. If you don't like the coloring between the lines, change the PlotFill parameter to FALSE. I am using MC, so I cannot post an ELD. I believe you can just copy and paste the below into PowerEditor and it should work for Tradestation. Inputs: LongAvg(61.8), MediumAvg(38.2), ShortAvg(5), UpColor(Blue), DownColor(Red), PlotFill(True); Vars: LongMA(0), MediumMA(0), ShortMA(5), Color(White), TLUp(0), TLDown(0); LongMA = XAverage(Close,LongAvg); MediumMA = XAverage(Close,MediumAvg); ShortMA = XAverage(Close, ShortAvg); If MediumMA >= LongMA then begin Color = UpColor; Plot1(MediumMA, "MediumMA", Color, Default, 1); Plot2(LongMA, "LongMA", Color, Default, 3); If PlotFill then begin TLUp = TL_new(date, time,MediumMA, date,time,LongMA); TL_SetStyle(TLUp,1); TL_SetColor(TLUp,UpColor); end; end else begin Color = DownColor; Plot1(MediumMA, "MediumMA", Color, Default, 1); Plot2(LongMA, "LongMA", Color, Default, 3); If PlotFill then begin TLDown = TL_new(date, time,MediumMA, date,time,LongMA); TL_SetStyle(TLDown,1); TL_SetColor(TLDown,DownColor); end; end;
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This really has no relevance what timeframe other people has found working for them. For every timeframe, there will be some people trading it. What does matter is what is working for you and that you will just have to figure out for yourself.
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But if you have an understanding of price action, you won't need the indicator anymore...
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TOS stand for ThinkOrSwim
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You really risk that much? What drawdowns are you comfortable with? If you risk 10% and you get stopped about 5 times in a row, which is really not that unusual, you lost 50% of your account. You don't consider that painful?
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First step would be to decide what it is you want to be educated about.