Hi Oatman
As noted on another thread I couldn't trade this (Thurs) am but the system so far would have made 8 trades for -21 points.
At one stage the P+F chart produced a lovely rounded bottom with a thickness of between 3 to 4 boxes, generating 4 false breakouts in a very short space of time.
It can be dispiriting - I'm finding Les Carlin's trading diary an interesting read on this.
Cheers
As noted on another thread I couldn't trade this (Thurs) am but the system so far would have made 8 trades for -21 points.
At one stage the P+F chart produced a lovely rounded bottom with a thickness of between 3 to 4 boxes, generating 4 false breakouts in a very short space of time.
It can be dispiriting - I'm finding Les Carlin's trading diary an interesting read on this.
Cheers
Three systems I'm following:
Take 10 - Takes a 10 point profit when available else out on a reversal 13 trades for -17
Take 15 - Takes a 15 point profit else gets out on a reversal 13 trades -9
Pure reversals 13 trades for -15
Due to a bug my system trading the 10s entered the first trade and got stopped for -1.5pts instead of a 10 profit. I've quit for the day down 28.5 points net
JonnyT
Take 10 - Takes a 10 point profit when available else out on a reversal 13 trades for -17
Take 15 - Takes a 15 point profit else gets out on a reversal 13 trades -9
Pure reversals 13 trades for -15
Due to a bug my system trading the 10s entered the first trade and got stopped for -1.5pts instead of a 10 profit. I've quit for the day down 28.5 points net
JonnyT
Dr. Mike,
Having missed the first 2, I'm now reluctant to get in. The finger's been poised a couple of times but, so far, my indecision has saved me money!
I get "dealers itch".
I'm afraid it's one of those days. It's going to be choppy but lets see what the pm and Saddam throw up.
Good luck,
Having missed the first 2, I'm now reluctant to get in. The finger's been poised a couple of times but, so far, my indecision has saved me money!
I get "dealers itch".I'm afraid it's one of those days. It's going to be choppy but lets see what the pm and Saddam throw up.
Good luck,
GreyingSurfer
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Hi, JonnyT
Are these all entering on reversals from double tops/bottoms?
I've been playing with paper trading similar systems on the ESTX for the past few days. Started off very well, over 90 points on my best day. But has gone downhill today, -35 points so far on closed trades, lots of false entries (which I need to do something about screening out), though currently also +14 on an open short
JonnyT said:
Are these all entering on reversals from double tops/bottoms?
I've been playing with paper trading similar systems on the ESTX for the past few days. Started off very well, over 90 points on my best day. But has gone downhill today, -35 points so far on closed trades, lots of false entries (which I need to do something about screening out), though currently also +14 on an open short
GreyingSurfer
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Ah, that's just too simple, it can't work, can it?
I auto-traded PnF buy and sell signals on the sim (FTSE) for a couple of weeks a while back. The good days were good (50 - 60 points or more easy), but the bad days were horrible - worse than -100 points before lunch some days. I concluded that even if it made money over the longer term, I couldn't take drawdowns like that without ending up in hospital before long. I considered setting a daily loss limit, but thats hard too because some of the best days were down massively before they jumped back into profit.
Hope JT does better, then I can invest in his fund which will be much easier
H.
Hope JT does better, then I can invest in his fund which will be much easier
H.
jmreeve
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Hi JonnyT,
Excellent to hear you have got automatic trading working.
I am currently writing some code to do a similar thing.
Have you automated your system using Tradestation or have
you coded it up from scratch?
I have been looking at the Tradebolt add on but am not convinced about the way it handles orders.
Excellent to hear you have got automatic trading working.
I am currently writing some code to do a similar thing.
Have you automated your system using Tradestation or have
you coded it up from scratch?
I have been looking at the Tradebolt add on but am not convinced about the way it handles orders.
Hi Oatman
Well things improved in the pm and the system ended the day
-12 (before spreads) after 13 trades.
Fortunately I wasn't able to start off this am. as the spreads would have killed me.
I never did catch the bottom every time I waited for a p+f bottom to appear the chart broke downwards again.
Well things improved in the pm and the system ended the day
-12 (before spreads) after 13 trades.
Fortunately I wasn't able to start off this am. as the spreads would have killed me.
I never did catch the bottom every time I waited for a p+f bottom to appear the chart broke downwards again.
Dr. Mike,
It was not a good day. The first signals this AM and the buy late PM would have baled you out. Trouble is, it's hard to keep going when it kicks you when you're down. It often pays you back if you persevere. And..... there's always tomorrow
Oh, and by the way, you know what I think of bottoms
It was not a good day.
The first signals this AM and the buy late PM would have baled you out. Trouble is, it's hard to keep going when it kicks you when you're down. It often pays you back if you persevere. And..... there's always tomorrow Oh, and by the way, you know what I think of bottoms
oatman said:
I have been using CCI 14 overlayed with CCI 6 for the last 3 months am very happy with the results when the 6 crosses the 14,the only slight hitch is on the way down they are a might too quick,so I use a slow stochastic 10,this irons out the problem somewhat.Nothings perfect.
