fxmarkets said:
…what are you saying with regards to dashboard offerings?
I call it a new trading technology. There is nothing for sale as stated in my first post. This is a demonstration, certification (they way I like to do them), Beta test and comparison to conventional TA, all rolled into one thread.
fxmarkets said:
…that although it spits targets , discretionally you assume control and OVERIDE targets ? if so what made you take this decision and why bother with dashboard? it lags ? or code cannot deal with market dynamics ?
An understanding of Data Analysis might help - any book on the subject would do above or at the undergraduate level, but not much more than that is nec. for starters. In data exploration where patterns emerge/exist, there will always be anomalistic events occurring within otherwise fairly structured patterns. There is structure inside what appears to be total random chaos. This system sees certain patterns in market data (it sees structure). When it comes across data patterns that it deems anomalistic (broken structures), it makes the determination the treat such an event in a certain way, depending on a host of decision support variables pre-configured into the system. That is part of the design philosophy that I adopted a long time ago – that the system be as flexible as I could make it. Which is another reason why it took so long to build.
There are normative patterns in the data and associated normative responses available to the system. There are non-normative patterns in the data and therefore responses available to the system to handle those as well. Ultimately, I am the final override on the system as I have a level of consciousness both internal and external that the system does not have (yet). The reason I bother with the Dashboard is the same exact reason why a technical trader bothers with Ichimoku Clouds Formations, MACD, %R, Pivots, Stochs, Williams, Barnes, PF's, RSI, etc., etc., etc. You use technical analysis as a "tool" for decision support in your trading.
The Dashboard is my TA tool and I bother with it precisely for the same reason why so many were sitting on the sidelines using conventional TA during the last session and this session. It attempts to plot the course to the most probable solution for capturing a prescribed number of pips that keeps revenue flowing into my accounts on a 24 hour basis. I trade the market everyday outside of those days already mentioned. I have a very specific need to generate revenue ever single 24 hour period (minus the days already mentioned) including those periods where others see too narrow a market to trade. Where others see narrow markets, this system typically sees opportunity to keep the cash flow moving. It is all about cash flow in this business. If the cash is not flowing, progress is not being made.
In ever Major Corporation in the world, they run something called Business Intelligence Analysis in one form or another (it comes in many different flavors). Corporate level BI technology is used for "Decision Support", because it can give insight into corporate behavior at the operational level and strategic overlay level that would take a human being with a hand-held calculator ages to produce with the same level of specificity. So, as a tool, the Dashboard (which was modeled on the same Executive Information Systems concepts found in the corporate world) gives me better access to better decision making at a higher rate of efficiency, speed and precision at the outset of the initiation of the market session (the open).
It does this based on both kinds of data: normative and non-normative (as I call it). It does not tell the market where to go or what to do next. But, it does tell me what the highest probability for a move in the direction "X" or "Y" will happen "next" within the median range of structured data pattern formations over time. The system knows what the range of possible normative pattern behavior. Anything it detects outside of that domain is classified as non-normative behavior, until the system "learns" otherwise and is able to plot a solution for navigating such behavior.
fxmarkets said:
...are you not better just trading it , hence your reason to take scraps?
That is what just happened – I traded it live here online. What generated the scraps – is the better question. The scraps were only available to me because the system put me in the position that it thought was "normative". Without the systems ability to detect where the optimal next move would be, I too would have been on the sidelines waiting for a trend to continue. This system does not trade trends. The act of taking the scraps is separate from the process of generating those scraps. My standard protocol is to exit all Day Trades that are in profit within the limits of the time frame of the trade type - 24 hours for “Day” trades as stated in my earlier post. Beyond that, I'm not day trading anymore, I would be Swing Trading.
Since the systems Swing Trade signal was status indicator was "Off", that precluded me from rolling into Swing Mode, which I do often when Day Trade performance is weak and the Swing Trade signal matches the Day Trade signal. So, the taking of the scraps is pure protocol and founded in discipline. The trade was over - so, I took what the market offered within the parameters of what the system projected up to 40+ pips that last session - it got less than that but it did so within specs. So, I traded the system the way it was meant to be traded in tight markets.
fxmarkets said:
...In short whats the purpose of the dashboard ? are you working on something thats not required to extract money but on something that will prove it can be done. ?
Override, should be a word the exits in every system developer thesaurus. I reserve the right to override any system I build as a matter of standard operational protocol. A pilot of a Boeing 747 can override the auto-pilot system onboard even though the avionics is fully capable of landing the aircraft and applying the breaks for the flight crew without human intervention whatsoever. So, why have highly paid, highly skilled and highly trained pilots in the flight deck?
The override is not a matter of trust - it is a matter of common sense and practicality. As a pilot and as a trader, I have access to external inputs that the system (aircraft) will never have and can process them "intuitively" whereas a machine won't. I can program a certain amount of "intuitive" trait into the machine, but ultimately, I want to be the final arbiter of what gets ruled in and ruled out.
Now, it is very important to understand that the 747 example is an example of operations within a normative environment. Take a fly-by-wire fighter, for example. When the pilot enters uncontrollable flight – a departure from normative flight as defined by the aircraft’s maximum handling characteristics – then the pilot of that aircraft (a fly-by-wire recovery system) is actually trained to
LET GO of the aircraft (so to speak) and allow the
onboard computers to manage the return to normative flight.
Now, I don’t have that kind of trading system technology! (yet)
![Wink ;) ;)](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
One day – maybe…hopefully…who knows…
To answer your other question, I trade many real accounts, but right now (as my first post said) I'm certifying, Beta testing, demonstrating, and comparing at this time. I’ve been trading successfully for years.