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Flex1975
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Everything posted by Flex1975
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Although backtesting is just a single step and only valuable when confirmed by forward testing... it is a crucial step in the whole proces. Calling a backtest a lie confirms indeed Phantom is not a daytrader with 12 years of experience... I do not apologize for my skeptical posts in this thread but based on the replies I realize the harder I try to prove Phantom is a fake the more forum members luv him... If people choose to believe him and eventually buy his/her stuff (or worse...give him/her your trading money to do the trading for you) then I have to respect that and keep my ethical mouth shut... The bait is always too attractive for people blinded by $ signs. That's how it works and always will work....
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You got me...as you can judge from my number of posts I am just a forum junkie.... Just read the post of Peterthemonkey...he explains it perfectly...
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Dude...you've positioned yourself as the greatest trader alive... Fine with me...back it up... The thread is yours...everybody listens....
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And there are the big (hype) words again... prove/backup your words and you get all the credits/respect you demand....also from me...one of the biggest "sociopaths"...!! It's up to you....I promise to keep my mouth shut...
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I promise nothing...but I know I have a few (very) old BB squeeze strategies somewhere on a prehistoric computer. I'll run a few verification tests and try to add some rules to show what MightyMouse means with getting better served if you follow price action...
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You already answered my previous post...my apologies. You don't have to automate your setups but coding your setups as an alert or indicator to highlight the appearances in your historical data is crucial. That way you can develop better ways to filter the best trades... Just a tip...
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True!!! Phantom, have you ever backtested your setups based on a continuous dataset of say 24 to 36 months? You use NinjaTrader so you have the right software....
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You're always free to crack my thinking... The way I see the markets is far from perfect so I never have a problem when someone tells me my brain needs an upgrade... But what you wrote is very good because you made a rule... A narrow (inverted) hammer bar at/above the upper BB band is a 'mini sideways channel'. Ok, next step... define the rejection rules to trigger permission to enter the market and attach an entry value. As said before...I am not pissing off the setup...but it only has a shot when the frame of the setup has been clearly defined.
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Ok, now you even lost me... Calsprdr is right...there is no consolidation pattern on the 120 min...the 2 bars at the peak have a higher low and higher high so I am curious what your definition of an uptrend is. Attached charts of the 15 min and 20 min with two consolidation boxes which are based on specific consolidation rules. These rules are not your rules so if people on this forum wants to use your setup in live trading when are they entering the trade? The first breakout down on the 15 min/20 min? The second? The third? The second down bar on the 120 min? You say you look for an "volatility" bar...it's clear what you mean by that but when you take your example 2 the "volatility" bar (third bar down) closes far below the upper Bollinger band while you said that you "take" the trade coming from the band values. My point is...I assume you're already in the trade when the "volatility" bar closes. Not? I only ask these questions to code a quick strategy to show people the results of your setup based on an extended period of time (2/3 years) instead of a few handpicked "big move" examples. Consistency is all what counts... Maybe you don't want to share your entry/exit rules...that's no crime of course and I respect that...but then I will make my own.
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It's not fun when that sort of things happen but there is no better learning path (in my opinion) then the school of hard knocks... :crap: Sharing those stories will always make a few people a bit smarter and better prepared...
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Yeah yeah...I know..."price rejection/acceptance" inside the squeeze... The KeltBB signal shown in the chart bring back a lot of early trading memories... I coded this thing when I was still a rookie trading idiot (I am still an idiot...but a seasoned one nowadays). Fun to see again...
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Let me guess....that "juicier" way is the Keltner/BB squeeze...?
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Hi Blowfish, You're right...my approach is radically different but I also respect the approach of Phantom. The only thing that is important (in my opinion) when you choose to present an trading approach on a forum like this is to specify the conditions when you take the trade or don't trade. For example....Phantom says he looks at volatility...is ATR, standard devation or something else leading...are there minimum volatilty values required....is there a minimum length (in bars, price or time) regarding the breakout before the hammer etc etc.... Only then you have a valid trade setup and that's something a lot of (newbie) traders simply do not understand... If the trade rules are clear I can code a "Phantom strategy" and provide some test results for those who are interested...
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True and fair point...when it's free...a reader cannot complain about the quality...
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Please explain in detail what your definition of price bar subtleties are and how Bollinger Bands, an EMA or MACD are capable to highlight these "subtleties"...?
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And there they are...the true intentions! Why not being honest from the beginning? All you had to say was...."Hello, I am Phantom and I am offering a paid coaching service for beginning traders. This is wat you will learn.........(and you make a reliable case of all information nuggets you're selling)". Clear and honest...
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Hi Ricastein, Please see my reply to Johnw for a description of the indicators. The settings of the indicators are all dynamic (inside the code)...so none of the indicators have fixed input parameters. I don't use time frame charts. In my opinion time related charts are way too noisy so I use an alternative chart type. Another reason for using an alternative interval is because I'm a automated trader and writing profitable automated systems on alternative charts is less complex....
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Hi Johnw, Thanks for the compliment... Yes, I developed the indicators myself (and to avoid the thought I'm trying to promote them here on this forum....they are not for sale) Í'll give you a brief description what the indicators measure: - Trend Filters (slow/medium/fast): These filters classify each bar with a certain degree of tolerance and measure the related swing length. - Trend Index: This is the leading indicator I use for entering a trade. It measures the trend quality based on a dynamic oscilator length. - Market Heartbeat: This is my version of the ADX. - Market Power: Shows the gear-box of the market (same as a car).
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Attached a better version of the chart...my bad!!
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Hi Phantom, Although I respect your willingness to share your knowledge and I think your advice is decent...please allow me to add a few thoughts on technical analysis for all struggling traders reading this thread and show these thoughts in a chart based on your EUR/USD example. Phantom described his 'hammer trade setup' as the safest bet you can make. I am a '100% technical analysis' trader and one rule I have is to avoid betting. When I make a trade it is purely based on the information from a number of indicators that proved to be 100% reliable and accurate in all market conditions. Reliable indicators does not guarantee a winning trade but trusting your tools is step one before you can apply a single piece of technical analysis in real trading. I think that's crucial advice for (new) traders. Please take a good look at the chart below. It contains the same data as the EUR/USD (20 min) example of Phantom and shows a number of the indicators I use. As you can see the vertical lines and yellow trendlines prove that all indicators confirm price action. No need to bet. Technical analysis is a very powerful way to position yourself at the right side of the next price direction no matter the timeframe but only if your TA tools automatically adjust to the constant changing market reality. And you need to define a clear set of rules based on your TA tools that work both in trending and choppy price action. Hope this helps a bit... Good Trading!