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waveslider

Free System

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I posted this on a dead thread elsewhere and will repost it to see what interest it generates.

 

ES on any time frame up to 30 min. Six years on the report performance

 

No parameters. No optimizations. Lots of trades. Low drawdown. But I ask you - who will trade this? I mean actually trade it? Not too many. Why? It's pretty, no really boring - and requires no intellectual input. You are a monkey. Still it makes an important point.

 

I'll trade you for one concept that has helped you in your trading.

 

This is barter. But any honest trade will be accepted :)

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One of the things that has helped me most in my trading is that of position sizing relative to market volatility. This is easy to implement for stocks or forex but not e easy for futures unless you are using large size. This way I can pretty much normalize my risk without worrying about highly volatile markets because I have positioned my trade to take account of it

 

 

Paul

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Many have said that the characters of the equities markets worldwide have changed over this past year, less predictable perhaps. I think the best thing to do amidst this environment is to become a master of continuation patterns.

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Hmmm, I must have some old junk.....err I mean....holy grail idea to trade with you. Looks like a decent little system. Let me try and think of something you would like :) I guess anything to do with lines and geometry is likely to be in your toolbox already.

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Hi Waveslider,

 

May I ask how the system performs in other markets or is this strictly for US indexes? Have you tried it on the stoxx50, FTSE, Nikkei 225, or ever bonds and some comods? The system looks pretty good to me. My day is filled with study not really trading - that is what the system are for. If I get bored, then I need to study something that interests me :)

 

All my best,

MK

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Sorry mk,

its not likely to work, it is a specific pattern for US markets.

 

Blowfish,

whatever, I know you - just pm me.

 

OAC,

you're right, markets always changing. Momentum seems to work again sometimes... maybe the turtles will return!

 

Thanks to everyone who has responded. If you make a million, you owe me a bottle of wine - that's fair right? Or one bottle per million.

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Trading only at daily highs and lows can be bread and butter all by itself. This concept can be extrapolated to trading at major support and resistance in general only. Patience required, great payoff.

 

Another one: take some P&F charting patterns, and map them to standard bar/candle charts for some interesting perspectives.

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Guest forsearch

Another one: take some P&F charting patterns, and map them to standard bar/candle charts for some interesting perspectives.

 

Could you post an example of what you are talking about here?

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I am a boring - no really boring, newbie with fried synapses from too much intellectual input. I envy the life of a monkey. Not much output to give, however, I have found fib-zone pivots rather interesting.

Edited by stanlyd

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Ok - a concept that has helped me with my trading. How about the fact that when trading breakouts one should not trade ones full position size on the initial break. Rather, trade for maybe 50% of ones size straight away, and wait fot the trade to go away, retrace, and confirm your level as support or resistance. THEN increase size.

 

In general, scaling in / out of positions is better than just having an all or nothing strategy as it's far easier to be right about direction than timing.

 

That the sort of thing you're talking about?

 

GJ

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I don't know anything about waveslider's system, but it sounds like it is a simple but profitable system based on US market internals ($ADV, $TRIN, $VIX etc).

 

There are some well known and established (read 'old') systems that work similarly. Recently on the TS forum, Mark Brown started writing about his 'Oddball' system again. So, here it is, one line of code:

 

I used a variation of Oddball back when it was hot, and stopped trading it using a stop mechanism on the equity curve so managed to avoid the DDs. I recently started to look at it again and have since built some day trading models based on the concept. I know a few guys on this forum that made fortune with Oddball variation on 30min bars and shorter and many institution that followed the trades on 60min.

 

Oddball is a gold mine period.

 

nworbkram - What value do you recommend for ADV? I ran a test and a lot of them seem stable or long data sets. Any numbers to share here?

 

This has to be a world record for the shortest profitable system ever!!

{Variation of Mark Brown's Oddball System in Active Trader Magazine, Dec 2000. by nworbkram} 
Input:test_level(optomize number here); 

If c data2>test_level then buy this bar else sell short this bar;

 

This is a wildly known system so it is no secret and hopefully Mr. Brown won't mind this post. More info on the TS forum and markbrown dot com. Here is more information:

 

What really separates this model from any other concept is that it uses the Advancing Issues of the NYSE.

 

This Data 2 source ALONE is the trigger for the buy and sell signals. Think about this a model which does not really care what the DATA 1 is. It is mindlessly calling out buy and sell signals across a very Broad Market of tradable market symbols from only DATA 2.

 

This systems uses the Day Session Only Data. It also uses a little know obscure feature in TS called Natural Hour. DATA 1 should be setup as the market you want to trade, DATA2 should be setup as the $ADV symbol. Both of these should be 60 minute Natural Hour bars.

I am not sure the statement of irrelevancy of DATA 1 is absolutely true. It would have to at least be something that is not inverse to the general market direction.

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If you guys like exogenous data series systems, check out Lawrence Chan's posts on the NeoTicker blog. He reveals some very simple systems that also completely ignore 'data1' or price and that profitable. He even has an improved oddball system.

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Guest biswayroop

Thanks guys, yeah once i get the basics down going to start the grind of screen time. That's why i love ninjatrader so much, i just leave my pc on the entire day while at work, then come home and replay the day's action tick by tick and paper trade it.

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A few things that have helped me...

The first was switching from candlesticks to OHLC bars

Also tape reading has helped with entry and exits.

Third is trader psychology, trading in the zone has helped me look at the market differently

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I have only been trading for a short time and probably can't tell you anything you haven't heard already, however I hope to learn a lot as I go forward and can tell someone new down the rioad one thing taht will add to his/her success.

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As a possibly ironic twist to this thread, I suggest as a general rule being cautious about trading someone else's system. Certainly, we can appropriately borrow individual ideas from other people. In many instances, though, the final crafted product should reflect the aptitudes and preferences of the person trading it.

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Trading psychology is critical. We often sabotage ourselves. Trading is one of those things that if done really well can make huge success. If we are not psychologically ready for that huge success, we may sabotage ourselves without even realizing it.

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Re: Free System

 

Not really sure what your looking for but I can tell you from personal experience, making less actual trades in a day will make more money. Having a goal for the day and quiting (or dramatical cut trading size) has made my trading more effecient and less stressful.

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I appreciate your reply but I use TradeStation. Does anyone know where I can find the Scalper and Pivot that works with Tradestation?

 

Scalper for TS:

http://www.traderslaboratory.com/forums/f46/scalper-buys-sell-replica-2124.html

 

 

DDF Value Chart, thanks to Blu-Ray

http://www.traderslaboratory.com/forums/f56/ttm-ddf-value-chart-3388.html

 

I will try to find the Squeeze and others :cool::cool::cool:

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