bakrob99

Suri - Does your pattern code offer any hook or way to use it in an automated strategy. For example - can you put your protected code in a Function and allow a strategy to call it and get the value so it can be automated?

Thanks Suri. I am thinking about buying the Pattern Detector you offer... but I am also working on one myself ...

This is a setup that I have had success with recently. I really like the concept of AB-CD patterns and measuring the move from A to B with extensions. I watch for trades that form especially in the morning in the directon of a Gap Fill when there is a reasonably sized Gap ... and wait for a Pullback to the 50%-61.8% range. I usually insist on the 61.8% being hit. Then, if I see Volume picking up I may enter at a Bar that closes Above the High of the Lowest Bar in the 50-61.8% zone ... OR Wait to see if price gets momentum behind it, breaks the 100% Recent High and Buy it on a Pullback. This confirmation generally has more risk but more success too. Sadly, you can't have one without the other. I took a scalp early today (for me) at 10:12 and when price failed to go through the High I waited for a larger retracement to form and then realized the AB-CD setup was unfolding. I went for a quick break and when I returned realized I had missed the first entry possibily shown in the chart with the Blue Circle. So I waited for a break of the high an pullback and enter at 832.50 on a limit order for 2 contracts. This price was picked as it was 1 tick above the recent high on the WRB bar at 10:21. But I would have been willing to enter on a Buy Stop at 1 Tick above the 100% Former High shown at 833.00. This was't necessay as I got filled within 1 tick of the bottom and price jumped up towards the Gap fill. At this point I am looking for a 1st Target exit at the Gap Fill price of 835.50 which was hit. Now, I noticed that the YM still had a way to go to fill its Gap so the chances were that the ES would continue at least as long as it took for the YM to fill. This happened to coincide roughly with my 2nd target (the 161% extension) which had a Tick Extreme and I exited again with 1 tick of the top of the move. I wish that all my trades were this nicely executed. If you are looking for a trade setup to may money, Look for repeatable patterns like the AB-CD. I recommend buying Suri Dudella's book on Patterns.

Whenever I am debugging a strategy I use the EasyLanguage Output Bar and a Print line to help understand what is going on. Example: PRINT Barnumber," Date ",Date," Time ",Time," MarketPosition ",MarketPosition," EntryPrice ", EntryPrice," ExitPrice ",ExitPrice); Then I would consider how to best retain or refer to the value you are looking for.

How do you know it wasn't a market order?

Sure.. but how does that actually translate into price movement until someone is willing to lift the offer or hit the bid? In other words ... either it's a Market Order with someone entering a position or closing out one, or a Stop Market order (same thing), where someone is getting stopped out or entering an order at a specified price. Or someone Joins the bid or ask once price has moved. I don't think UrmaBlume has any magic to offer that will change the way the market works. Pulled orders or Imbalances in Depth won't make any difference to price until someone accepts the bid or ask at market. The spread would have to change which can and will happen in fast markets or in imbalances. But the change in spread will still only be confirmed by a market order taking place at the wider spread.

Could you please enlighten me by letting me know what moves price the other 10-20% of the time?

You have named them. You've called them: "Sell" "Sell2" and "Sell3" I you want to scale out you need to set a target price and Buy to Cover (for a Short) or Sell (for a Long) at a LIMIT price: Example: Inputs: EXITatTarget (TRUE), Target1Qty(1); vars: EXITPrice(0); // Calc ExitPrice add some logic to calc your exit based on a target or whatever... if Marketposition=-1 and EXITatTarget =TRUE then Begin Sell ("Target1") Target1Qty Contracts total next bar at ExitPrice Limit; end;

For me, its not the good signals it gives - but the amount of noise in between.

I had it for a year ... I don't miss it.

I would think you could contact your Congressman and make it known that you object strongly to this type of market interference.

NO. It is proposed to be a transaction tax that will be charged on the trade as a fee.

Let me get this straight. You find it too difficult to go into a Google Search and type in: Ryan Watts MACD then be presented with a ton of links to articles: Eg. http://www.thephantomwriters.com/free_content/d/w/divergences-2prevent-bad-trades.shtml or http://www.wattstrading.com/Scalpingtheeminis.html

CHeck out this site. http://www.hamfon.com/daytrade/tradestation.htm They have the indicators in TXT format & ELD format.

In order to allow additional contracts to be added to the first order you have to select the option to allow "Pyramiding" in the Strategy Properties format box.

Thanks for these charts. They are interesting. Could you also post a chart where the TRADE INTENSITY failed to show the correct direction. Thanks

Visited the chat room for the first time today and enjoyed the experience. Thanks for creating it.

I tried to develop a winning strategy which "scalped" the market - and spent a year doing it... only to realize that scalping was NOT the way to go. A forum poster suggested to me that I trade fewer times and try to get a bigger move. I changed my strategies to concentrate on getting in a move, taking the 1st target off at 13 ticks ES ( which is greater than the stop amount) and moving the stoploss to break even. Then let it run. That works well for me. Good luck with the scalping. Frankly - I don't believe you will be able to oversome the costs of slippage, commission and the occasional really bad exit. Here's another way to look at it. My real profit comes from about 15-20% of the trades, the old 80/20 rule. And the 2nd hald has to run. I mean really let it run. Exit at the close (or 15:40 which proves best for me on the ES). This runner accounts for all the profit. It earns $2000 - $4000 per month on the ES trading 2 contract. Every month. But you need an entry which has at least the possibility of getting into a major move. And there are only (usually) 2 of them per day. So don't trade too often. I limit my strat to 2 trades per day. Use a chart which is a longer timeframe. Forget about 1 minute or 89 ticks... etc... Try a longer time frame. I have a strat which runs on a 15 minute chart and takes 1 trade per day some days. It is up a little over $25000 on the ES this past year trading 2 contract. All of these strategies have one thing in common. Their 1st target is greater than their stop loss. And their 2nd target is a lot bigger.

Couldn't they be the result of PROGRAM TRADING ... Compare the events with the ESINX feed.

I think you have missed by an order of magnitude here. Light travels at a little over 186,000 Miles per seconds which works out to about 186 Miles in 1/1000 of a second or approx 300 Kms in a milli second (1/1000). And a hard disk's head doesn't have to travel far... besides your O/S writes in a memory cache which is considerably faster again. My only point is: your math is off...but I am not commenting on URMA BLUME's ability to determine if the trades are travelling at the "intensity" she claims. YOu may still be correct about that.

What I mean is that while optimizing money management parameters for my automated (mechanical) systems, I learned that, especially if you are scaling out of a position, it is the last part of the position which provides the major portion of the account eequity growth. Staying in the move is essential to build up the value of the Average Winning Trade. This was not what I expected when I first seriously tried to develop automated strategies. And it was only after I gave up trying to take 10 points of profit for the 1st contract in the YM (as an example) and held for longer gains (34 ticks on the 1st half) - and then left my stop at breakeven while the 2nd position runs for as long as possible that the strategies really began to have a tradeable edge.

My point is: for my entry techniques I learned by backtesting that taking profit too soon was an account killer. If you are successful scalping the market - congratulations.

One of the biggest advantages I have received from spending the year of development effort devising a winning stragey or 2, is the understanding of what it takes to be a winner in the market. You can get this by discovering what money management rules work , and which ones do not. Then - should you decide to take some discretionary trades - you are in a much better position to win over time by following the rules which have proven merit from your backtesting. Case in point: I used to think it was profitable to scale out of trades with as little as 10 ticks on the YM (4 on the ES) and try to hold onto a 2nd position. I now realize that trying to scalp the market is ultimately a losing proposition. Cut down you trade frequency - get into a trend and trail your stop a long way behind the market. You need to take a profit at least 2 x your stop size to be a long term winner.

This has been done on the TraadeStation forums. Why don't you post your question there? Scroll down to Mitch's reply and chart. See: https://www.tradestation.com/Discussions/Topic.aspx?Topic_ID=58961&SearchTerm=plot%20high&txtExactMatch=&Page=1

Right Click on the indicator's line or whatever it is on the chart - change the Scale to NO AXIS.