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BlowFish
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Everything posted by BlowFish
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I hope I won't get into trouble for saying this but TRO does have a home on the net. Google should help you find it.
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I have to say the screen shots looked so perfect that I was very wary. Sorry to hear that you did not have a good experience.
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Futures I Trade Show & Brooks Book
BlowFish replied to brownsfan019's topic in The Candlestick Corner
I also like the PRV volume study. Al does not appear to use volume but there appears to be a synergy. -
Absolutely....of course that is the nature of trading regardless of approach. Tools don't make the craftsman. My grandfather was a scratch golfer and he could go round 2 under just as happily with 5 clubs as a full bag. I was grateful for that when I cadied for him Eidt: btw the OP recommends constant volume bars for reasons described earlier in the thread.
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If you put a packet sniffer on the line and see what is exchanged you will see it does not send 'calcs you program'. It will also run a month firewalled before it needs to 'phone home' again (though they periodically mess with the security protocols, so that might be different now). So you can open up the ports start MC and close the ports if you are really paranoid Oh Gold just released yesterday btw. Edit: I have a problem with this sort of security too, with me it's waking up one day to discover your software no longer runs as the company is in recievership.
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Futures I Trade Show & Brooks Book
BlowFish replied to brownsfan019's topic in The Candlestick Corner
I think if you have a reasonable grasp of 'traditional' price action it won't take too long to get up to speed with the basics of his approach. There are a lot subtleties there too mind. I particularly like some of the 'failure patterns' (for want of a better term), stuff that I am sure most people who have studied price action recognise he presents strategies to capitalise on. -
Futures I Trade Show & Brooks Book
BlowFish replied to brownsfan019's topic in The Candlestick Corner
Thought I'd have a crack at application of Al's take on PA First green ^ was a scalp (as counter trend and a doji) however after three pushes down and a poke I though it worthwhile (also a longer term horizontal S line there that I would have looked at trading anyway) First red is with trend, micro channel break and end of two leg correction it is also a LH. Last trade shown is again a 2 leg correction and a LH it is also at a bear trendline (not shown) through previous two highs. got a partial (+5 points) but took the stop to BE+1 too soon. Funnily enough I was thinking hmm trap. I think Al would have probably entered short again but to be honest I thought the bears where starting to look tired so did not. -
As for trading pure PA. Also look at the Whycoff forum here. There was also a thread in The FX forum called 'busy day tomorrow' or similar. There are several other odd threads. Joe Ross law of charts is a worthwhile (free) download as are the first 3 journals from the fibonaccitrader website.
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You will need to open a demo account with one of the brokers to get data. As far as I know MBT (the only one to offer spot FX) don't offer NT demo accounts. Interactive Brokers might do you too as they offer spot FX too. Mind you I wasn't aware NT has a decent scanner (not having a requirement for one). Shows how much I know! Looks like there market analyser will do the job for you if you can get the data.
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Start here... TradersCALM - Calculating risk of ruin
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My motivation was to understand what the approach was all about, implementing the indicator (partly for the sake of doing so) made that easier to see for myself. I quite like looking at novel approaches that meet certain criteria (which this did despite relying on an indicator!) . I don't actively look for them and my primary motivation is curiosity rather than anything to do with my own trading.
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There was a thread that discussed this not so long ago. People agreed to disagree on the whole. As for a definition how about "An irregular geometric object that is self-similar to its substructure at any level of magnification", there are various definitions knocking around but they boil down to essentially the same thing. For practical purposes I think they are close enough though current thinking favours multifractals if you are actually trying to model them (financial time series). I have a couple of 'conceptual models' when I am thinking about time series data. One is kind of fractal. The other is more sampling (so kinda signal processing orientated). If it helps you to think about things its useful if it doesn't its not. Of course if you are trying to model data your requirements might be more stringent.
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There is a picture earlier in this thread, round post 82.
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The platform dictates the language. Really the discussions on languages are academic. Unless you code everything from scratch that is. I would not recommend that to someone starting out. Oh or if you choose Neoticker which supports a variety of languages. As the previous poster points out (and has been mentioned before) what you want to do and what you are used to will largely dictate the choice of platform. Again to re-iterate the platform will dictate the language you use. 80% or more of your code will be calls to the platform and so the language is pretty academic. So are you going to write everything from scratch (I'm pretty sure the answer to that will be no ) If thats the case we can pretty much dispense with the discussions on the merits of different languages and talk about the merits of platforms and the core features they expose programatically.
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The problem will be 9.0 to 11.00 pm. Pretty much nothing is moving then it seems to me (for reasons previously stated). Do you have any flexibility in your work hours? If you have found a profitable niche personally I would lean on it. Of course I don't know your circumstances or reasons for working but if you can eek a few points out of the DAX each day you have a comfortable living right there. (I can certainly appreciate, and would recommend caution before going down that path). have you traded the Russell on ICE rigel? As I said a couple of posts ago I have not since it moved. I hear its pretty similar to the old days.
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Futures I Trade Show & Brooks Book
BlowFish replied to brownsfan019's topic in The Candlestick Corner
Surprised there has not been more interest in this stuff. Here are some quick notes I made to test my understanding of some of his concepts. They may (or may not) be helpful. Trend. Bars making new highs/lows closing with good seperation from the open. Trading Range - Brooks uses the term Doji for simplicity. Brooks Term for absense of trend - Doji, Inside Bars, narrow bars etc. even outside bar can be consolidation if it opens and closes near the same level. Rember he analyses bar by bar so a single bar can be a range (or trend). Context plays a part too. Barbed Wire 3 or more sideways range bars. H1 H2, L1 L2 Occur in congestion or correction within a trend. H1 is first isolated high in a -ve correction in a bull trend. It marks the end of the first leg. H2 is the second isolated Hi and marks the end of the second leg. H1 H2, L1 L2 variation As above but with a higher close rather than an isolated high. It is the two legged nature of the correction that is important. A Lower time frame will likely isolate the legs more clearly. Some principles. If a market makes 2 attempts to do smething and fails it tends to do the opposite. 'Close enough' is good enough. If a patern resembles a good pattern it will likely behave like that pattern. Traps - if you don't apreciate that the exact opposite can happen you will be trapped in and out of trades. Akin to 'in poker if you don't know who the mark is, its you' Patterns. Best Entries are 2nd ones and failed break outs. Very best probablly the 2h in an established trend. (if momentum is strong and or the trend is new you will probabbly only get a 1 legged correction). First one or two bar trend line break often resume trend (i.e. fade and enter with old trend). My observation is you will often get an equidistant (size of channel) correction and then resumption. This is similar to Parsons 'split' Counter trend trade - a trend line break and test (similar to trader Vic). Or failure at (preferably a poke through) channel line (climax) follwed by a test. Must see some strength in new direction. Best are after 3 pushes (so 2 pushes and a test). Treat any 3 pushes as a wedge. (my interpretation needs to be at the end of a trend with lessening momentup/shortening of swing) -
Isn't one of the characteristics of a 'wall' small size constantly refreshed? Usually an informed trader would not want to advertise the size of their inventory.
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Just noticed that time requirement 7-9 any of the US indexes will do, try and find one that fits or just trade the DAX. 9-11 is probably the worse time of day to trade as US is closed and Asia hasn't opened yet. The worse time in the whole 24 hour period imho.
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Fine for your size account.
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What you are describing is the DAX. Remind me again why you don't want to trade that? The Russel used to be the US index most like the DAX but I haven't traded it since it moved exchanges.
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42 Sometimes it is hard to know the right question to ask
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- pivot
- pivot points
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Futures I Trade Show & Brooks Book
BlowFish replied to brownsfan019's topic in The Candlestick Corner
Thanks, these are keepers I think so a reduction in size is welcome (I also dislike quicktime almost as much as I dislike itunes!) What I find particularly interesting is some of the types of action that he fades...micro trend line breaks (fading channel line climaxes is already in my repertoire) I have noticed the phenomenon but not considered trading it, certainly warrants further exploration. Outside bars that have no follow through (followed by a small inside bar near their close) interesting too though I am more apprehensive of that one. All in all an interesting take on PA. As the book has large parts that are commentary on charts I do hope it's edited so that charts and comments are on he same (or facing) pages where ever possible. That would be my biggest criticism of the draft, though he should probably have presented 2H 2L right after trend bars and range/doji's imho. -
There's the rub, CQG is one of the few platforms I know absolutely nothing about (except that it is expensive!). Most Platforms have there own scripting implementation based on one of the popular languages. I know CQG has a formula language but I don't even know if that is appropriate for developing 'full blown' studies to be honest.
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At the end of the day the language is essentially different syntax though as Tams points out there are a few conceptual differences. It is also 'clear cut', it either is syntactically correct or not. The big issue is the platform because the bulk of what you will be doing is calling functions (or invoking methods) to get stuff in and out of your code. It is how this 'API' stuff is implemented that is likely to prove challenging or not. The nature of programming nowadays is understanding the API you are programming too. Actually IO (input output) and getting stuff to and from the operating system has always been the tricky stuff. The charting app you use is essentially your operating system. Put another way there is not much programming involved in programming If you use CQG it would make quite a lot of sense to go with that though it will be hard to get specific help on that platform (though I am sure many can provide general programming help). Why not just dive in and write a simple moving average and see how you get on?
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Thanks. I Just signed up with them last week and will continue watching for a while.