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optiontimer

Optiontimer's Project

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  Niko said:
Great system, have been testing it on intraday with very good results, one has to define the exit strategy but that is just a byproduct of backtesting.

 

How are you doing intraday with this?

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Let me preface this post by saying I am not trying to be a hater.

 

I have been reading this thread over the last couple days and am happy to see people having success with this method.

 

I noticed on many of the entry charts people posted, there were numerous trades that would've been losers prior to the current entry. I did not see this addressed anywhere. I am not saying that a method should have 100% winners, I just wanted to point out that according to the entry methods described in this thread, some of the charts would've had losing trades in the past if they had been taken (they were not taken, though, because they were from a time before this thread was created and before whoever posted them was using this system).

 

For example, this chart was posted:

 

27216d1327701759-optiontimers-project-270112-eurusd-20pip-rangebars.gif

 

Before the rally beginning in the middle of January, there were around 5 losing trades.

 

Now that this thread has been going on for over a year, what sort of win rate are you experiencing?

 

Is anyone trading this method intraday?

 

I agree with the Optiontimer's premise that despite using indicators you are really trading price action. This method is entering on pullbacks in a trend. It works well in trends. It works really well in big trends, especially if you pyramid. It fails to work when a trend ends, when a HH is followed by a LL, or when price chops.

 

Are you having success on things like the S&P (which people say tends to be less trendy) or currencies (which people say trend like crazy for years)?

 

Alright those were my questions and comments after reading this whole thread.

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  metalhead said:
How are you doing intraday with this?

 

I dont trade indicators anymore, i gave the inputs to a friend of mine who does i will ask him and let you know. I tested it for some days (not statisticaly significant) and it looked good.

 

Now if there is people with coding experience here, the setup is not that hard to code, and therefore easy to backtest on computer. Long time since my last code was written so i just dont have the will to do it.

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  optiontimer said:
Re-read that post and consider the context in which it was put together.

 

Also, I do not use this system myself as I presented it here. I myself use support/resistance, highs/lows, and volatility as measured by my eyeballs to make trade decisions. I do not think this trade represents a gross deviation from the rules o f the system outlined in this thread. However, any trade I take and share here which may look like a devistion from the rukles of the system will be the result of the limitiations inherent in using mathematically calculated indicators based an average of price measurements over a specified period of time: As SIUYA has sai, "what is the difference between a 20 ema or a 21 ema," and what is the difference between a 21 ema and a 34 ema for that matter, or a 50 SMA and a 65 EMA? I put the system together to help guide people toward considering and recognizing a long term trend, and to help them train themselves to wait for pullbacks against the trend, and to further recognize when those pullbacks may be coming to an end and the major trend is ready to continue.

 

I do not mean any of this to sound as though I am opposed to indicators. I do want to remind you, however, that there is no "secret sauce" to a particular indicator. The important thing is the general strategy, which is to trade in the direction of the major trend and against the minor trend, and to hold our positions for much larger profit multiples than the size of our losing trades.

 

-optiontimer

 

  Niko said:
I dont trade indicators anymore,.

 

Optiontimer doesn't either ;) I think this thread segues nicely into the Wyckoff forum and "Reading charts in realtime" thread.

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