brownsfan019

If I did it, I'd really want a full blown system where it does it all.

So I've been thinking more and more about possibly programming my trading methodology. I have no idea where to start since I am not a programmer. I'm not even sure if what I am looking for can be programmed... It's not as simple as when X indicator and Y indicator do this, buy... Just looking for some ideas since we have some programming guys here and maybe some are on full/partial automation... Thanks!

BF - great questions. I do not want to take over the VSA thread when talking about candlesticks/PA trading. I'd be more than happy to move the discussion to the candlestick area here on TL.

I honestly do not care what it's called - hammer, doji, spinning top (actually would probably be a spinning top more than a doji ) Point is, great trade there. And it was easy - high volume bullish candle signal. I see all this stuff in this thread making trading so much more difficult than it needs to be IMO. There's one post asking if this was a trade and then another that says it was textbook... Well, if it was 'textbook' shouldn't it be obvious? I mean, there are some patterns that require discretion regardless of the trading method, but to call something 'textbook' would indicate to me it should be incredibly obvious. Not sure what was so unreliable about a spinner that produced +8 for me... I don't know, for me, that's reliable enough. It moved approx. 13.5 pts from the close, so if that's not reliable enough, then yes, candles are not good for someone that must get more. It works for me as +8 is a nice trade. My point was simple - to take something that took at least 3-4 pages of this thread to dissect that literally took about 1 minute analysis in the candlestick world. Result was the same - a long that worked well - but it did not require question after question to get there. I guess I'm that voice that won't go away in this thread b/c I see so much effort being exerted here for the EXACT same thing that us candle traders are doing, yet it's as plain as day. In other words, I have yet to see ANY advantage that VSA provides that your standard candlestick analysis does not... Oh boy... here comes the hate mail now...

Eiger (and others if interested) - you know what could make life a little easier? Convert your chart to a candle chart and just like that you have a very high volume hammer. Doesn't get any prettier (or easier) than that. Instead of wondering if A vs B and compared to D along with the VSA principles that may or may not apply here, candlestick analysis says - BUY. Good trading! Note - I took this very hammer for +8. Who knows, maybe got out TOO SOON! :rofl:

The custom indicators package with OEC is brand new w/ the most recent release. I do not do much custom programming but have played with it and it's fairly user friendly. More details and info will be coming from OEC as well in the near future about this feature.

Let me know if you join szymon and if interested, you can join our crew next round. Crews are VERY important as you will learn. Good nuking!

Some of are already doing it here - come join the fun!

One suggestion if I may - if we do a regular meeting, we should talk about best days/times for people to come to the meeting.

Nice little box we are in currently:

Our group is getting better by the day. We have 4 from TL in the crew and 6 others that we've found along the way. We are currently a top 50 crew which just means of all the crews out there (no idea how many) we are good enough to receive a ranking. Hopefully we can keep it!

Kevin, I think you'll find A LOT of GREAT info right here on TL, you simply have to take the time to look around. There's A LOT here, so take your time. Elitetrader is also a trading forum but the good info is buried in between a lot of trash. Outside of that, that's what google is for. Good luck!

Gene - HLM brings up an excellent point here if you are going to use these MP levels. I had no idea what all was going on there, but he does. Maybe if you are nice you can pick HLM's brain a little about how to use those numbers.

Well Kevin, part of this job is to do a little work. So, search this forum, head to google, check out elitetrader, etc. and then start the process of what we all go through. Good luck. There is no easy way to the riches or holy grail, so make sure to spend a little time researching.

Gene - I think what you saw today is what happens when you have fixed S/R levels based on previous price data. This is exactly why I do not use them (MP #'s, Pivots, etc.) as I could not get them to work for me. A day like today where it's just hugging your line will eat you up real quick if not careful. Just an observation, take it for what it's worth. If your research shows that days like today are to be expected and easy to deal with, then great. If not, hit the homework this long weekend HARD before Monday.

Simon - thank you much for that review. It just reinforced what I pretty much already knew.

thanks hlm!

I was hoping with our FX traders that could provide some links to useful FX sites so I am not spending this long weekend all over the place. I just need some FX basics and good informative sites to have in my bookmarks. Some questions that come to mind: 1) What are the major pairs to look at? 2) What is each pip worth? 3) Exactly how worried should I be about placing money on deposit with a firm? 4) How about leverage? I know there's a ton available, but I'm not interested in being leveraged to the tilt. And anything else you can suggest. Thanks in advance!

Well said zdo - how to find someone that wants to mentor but is not doing it just b/c of the $. This whole thing is not an easy business decision. I wonder if my friend will do it or not...

I downloaded Dealbook 360 from GFT Forex b/c I liked what the charting package had. My question is (as a FX newbie) - is this thing any good to trade through with real money? I'll be honest here... I am skeptical of FX due to the different horror stories floating around out there but just curious. I'm considering it more from a swing trading perspective since these things can trend like a mad man at times. I'd love to hear any feedback on GFT/Dealbook. Thanks!

Good points Sledge. If I ever embarked on something like this, it would be on my terms. Problem is, not sure my terms could ever be met to be honest.

Interesting posts. James brought up an interesting idea - more of a 'look over your shoulders' type thing. Quite interesting actually. :hmmmm:

Gene, Few things: 1) CONGRATS on starting the journal! That is awesome!!! 2) VERY nice detailed analysis here with your spreadsheet. That is a job well done. I know it's hard, but it's not about the $$$ in the beginning. You've done the right thing here and making yourself accountable... as discussed here. A few comments from a candle trader: Trade 3: bullish hammer after your red candle. Nice confirmation for long. Trade 4: HELLO inverted hammer on high volume. GORGEOUS short to me. Trade 5: Hammer as well, depending on how you enter, it failed or did not fill. Trade 6: In hindsight, a large engulfing candle. I personally would of had a hard time taking that to be honest. Here's my view of the same YM chart with your S/R zones: As you can see, your VHA was tested numerous times and defended by the bulls until that invertered hammer occurred. Other trades nicely profitable as well. The exits are key here as to whether some/all trades made money. Good luck in your trading!

You know what the b*tch of it all is too CW? I love working with people and helping others out. I would actually enjoy the teaching aspect of trading but as my above post mentions, there's too many ways for something like this to backfire on me (or the person doing the mentoring). That's why I think the price would have to be such that at the very least, I am compensated for the work that took me years to do... It's a tough pickle. And probably why my work will die with me or be passed on to my yet unborn son(s).

Yeah, I don't know. Seriously. I would enjoy mentoring a few up and comers to be honest myself. But it would have to be on my terms and my conditions. For example, I would WANT face-to-face time. I know the internet is great and all, but there's a lot be said to face-to-face time. Almost like a mini-prop shop type thing really. Of course, the issue then is how long before these people jump ship b/c they don't want to pay me... And how long before I have competition? How long before the trading plan is floating around the internet... I am a skeptical person, so from my point of view, not sure it could work even for some serious money. I don't know... a thought provoking question that's for sure. As my appearance in the VSA thread showed, I'm ok with asking those tough questions. It may not make everyone happy, but it's good to have someone asking those questions.