Intraday Trading the Forex market to make consistent profit

[Forexmospherian]

Hi F,

sorry for mixing into the discussion.
i quite understand that trading is not always black and white etc. etc.

I am also a programmer, and in programming (just as in real life 🙂 ), you can not forget something a little.... you just forget or do not forget something.

if i understood correct what you just wrote we can divide these lines in 2 groups:

the 1,2 & 3 belong to the ENTRY rules.

and 6,7,8 & 9 Belong to the EXIT (or the should i stay or leave) rules.

maybe there is more discretionary which we can not fit in rules, but for a programmer it helps tremendous to get it as straight as possible.
(in a WHAT/IF scenario)

further we had for entry:
- the mentioned time window x minutes around the half and full hour
- SR levels (for me not yet clear... but i have lately not done much screen watching)
- ......is there more ??

and maybe there is more, from which you maybe not even realize they are part of your method (but as long as it works 🙂 keep doing it)

grtz from the land of beer & chocolats (aka belgium)

Bob

Hi Bob

Thanks for your comment

Yes I think you are following the "gist" of the system

I suppose it down to 3 main factors - with each one having loads of variables that effect the main equation

1st - For me is Time . There is a pattern for entries and exits - ie when people take new trades - or exit ones that have made them profit - or losses ie they might be stopped out

2nd - When these entries and exits happen around a S & R areas - not just major monthly levels - but also interim session ones and it coincides with time windows - then we normally get changes of directions - that might be from just 5 pips all the way up to 500 pips. Normally - and maybe 70% of the time they are only 5 -15 pip moves - but they are just great for scalpers working with tight stops.

3. Price action and price structure - that's where I find my LR settings can assist me to be highly accurate.

No experience naked trader would get anywhere near the accuracy I can obtain - proving that the eyes and brain alone are not enough - they need help from other aids.

When you then look at the detail in the 3 main factors - this is were its not just black or white - its a lot of grey and uncertainty unfortunately

So for any programmer - its going to be a very long winded and time consuming job to put it all together.

That's why some commercial programmed automated or even semi automated systems takes months and months to develop etc - and therefore I can understand how costly the whole exercise becomes.

How do you program "grey areas" into a system - that an experienced discretionary trader sometimes just ignore entries or exits - simply down to him seeing more - ie news - 15 mins away etc etc.

I therefore think you need a "default" setting of "dont trade" when all the clues don't line up correctly.

It will be interesting to see how it develops etc - and if it means i have to list every component in my equations - ( i think there could be even 100's) like even level of risks - ie do I take more trades when i have made more money out of the first 5 trades of the day etc then I can do it - but can it all be programmed ??

Regards


F

 

[Forexmospherian]

Hey there

And some things in life can be Black AND White - its a complex system for sure.
Here - GBP-YEN - this LR - a 1200 on my chart - acted as entry....http://screencast.com/t/O0DJBQXEG
Having looked at LR'S for a few months it appears when price is above-below PA is an indication of OB/OS rather than a time to enter (sometimes) - also LR's react differently on different platforms - and time-frame.
There's a bit of a learning curve - but I'm sure we'll get their

HI andrac


Yes you are correct - even different platforms perform differently - and that's another problem facing traders.

Its a case of fine tuning the LR settings to the platform you trade with - and then testing different brokers etc to find the one that works best for you.

For years I was with GFT UK - with their Dealbook 360.

Their tick charts and indicator set ups etc were ideal for me - but their entry and exit performance just did not hack it - so slow compared to ECN brokers of today

Good luck with your testing and fine tuning - and i can tell you now - over time you will get there

Regards


F

 

[12WBT]

[QUOTE=Forexmospherian;





No experience naked trader would get anywhere near the accuracy I can obtain - proving that the eyes and brain alone are not enough - they need help from other aids.

Hi F

Why do think this is. Wundt a person be able able to how smart an aid or bot after a period of time.

 

[Forexmospherian]

No experience naked trader would get anywhere near the accuracy I can obtain - proving that the eyes and brain alone are not enough - they need help from other aids.

Hi F

Why do think this is. Wundt a person be able able to how smart an aid or bot after a period of time.[/I]

Hi 12WBT

I think its a bit like trying to do a fairly difficult or complicated maths question.

You should always be able to work out the answer quicker with a calculator than purely within your head with no pen and paper.

Yes - you can still be very profitable as a "naked trader" - but if you take say 10+ trades a day and a computerised aid or indicator can just gain you half a pip on half you trades - ie extra 2.5 pips a day - then over 200 working days a year - even at just 2 lot stake you have gained an extra $10k per annum

Regards


F

 

[penguinfx]

I second Forexmospherian.
I've seen naked traders make serious profit with trading tools.

 

[TheRumpledOne]

F:

I was hoping for more posts from you so I could see if there is something else to add/change in my code.

 

[Forexmospherian]

F:

I was hoping for more posts from you so I could see if there is something else to add/change in my code.

Hi TRO

i thought you might be on a vacation - I have a couple coming up again soon

Posting all trades in the other thread - but will this week copy the EJ ones that are of good interest in this thread - in case it helps with something else with your coding

Monday is slow for now - but classic manipulated 11 pip fall at 9 39 am UK time - guess 4 39 am NY time - that would have caught all quick lrs out - but did not catch LR structure and time windows - as they expected at the correct price at 138 73

Speak to you soon


Regards


F

 

[NVP]

I love that f is trying to bring it here for others to follow and learn

The programming exercise is great as we'll

Worth remembering though. It's not just about objectivity and stats. If it was all good ea,s would make money

There's the X factor as well that comes from experience and talent

N

 

[NVP]

F......Make the cheque out to. Nvp.😆

 

[NVP]

Later all. Love from Vegas

N

 

[TheRumpledOne]

Hey F:

As I mentioned previously, I have used linear regression before. I added the linear regression indicator to the mix to see if it shed any light on your technique.

Price usually moves out a std dev or 2 and then returns to the linear regression line.

 

[Forexmospherian]

Hey F:

As I mentioned previously, I have used linear regression before. I added the linear regression indicator to the mix to see if it shed any light on your technique.

Price usually moves out a std dev or 2 and then returns to the linear regression line.

I will have to start looking at regression lines to see if they can assist more - never used them in past only used LR's in their formats similar to MA's

Here's 3 scalps with the exact times in windows playing their parts along with S & R and LR's

 

[4exbob]

Hi Bob

Thanks for your comment

Yes I think you are following the "gist" of the system

I suppose it down to 3 main factors - with each one having loads of variables that effect the main equation

1st - For me is Time . There is a pattern for entries and exits - ie when people take new trades - or exit ones that have made them profit - or losses ie they might be stopped out

2nd - When these entries and exits happen around a S & R areas - not just major monthly levels - but also interim session ones and it coincides with time windows - then we normally get changes of directions - that might be from just 5 pips all the way up to 500 pips. Normally - and maybe 70% of the time they are only 5 -15 pip moves - but they are just great for scalpers working with tight stops.

3. Price action and price structure - that's where I find my LR settings can assist me to be highly accurate.

No experience naked trader would get anywhere near the accuracy I can obtain - proving that the eyes and brain alone are not enough - they need help from other aids.

When you then look at the detail in the 3 main factors - this is were its not just black or white - its a lot of grey and uncertainty unfortunately

So for any programmer - its going to be a very long winded and time consuming job to put it all together.

That's why some commercial programmed automated or even semi automated systems takes months and months to develop etc - and therefore I can understand how costly the whole exercise becomes.

How do you program "grey areas" into a system - that an experienced discretionary trader sometimes just ignore entries or exits - simply down to him seeing more - ie news - 15 mins away etc etc.

I therefore think you need a "default" setting of "dont trade" when all the clues don't line up correctly.

It will be interesting to see how it develops etc - and if it means i have to list every component in my equations - ( i think there could be even 100's) like even level of risks - ie do I take more trades when i have made more money out of the first 5 trades of the day etc then I can do it - but can it all be programmed ??

Regards


F

Hi Forexmospherian,

thanks for the answers. I think by "can it be programmed"...
leave it to the programmer 🙂
and yes commercial packages can cost a fortune but at the
end of the day only counts if it is effective.
been there done that ... my background started as a programmer
in 1977 at a bank and seen from firsthand what they were doing
for the own account ... uhm...very different from what they advised
to their clients. nowadays still programming, but only for fun.

a good programmer is capable of reading between the lines
and find clues in everything you write, so keep doing it.

On the other hand TRO is a good programmer
( 😀 nice structured readable code )

So funnel all the bits and pieces which are part of the method to him (on the forum or by PM) and be amazed by the results :clap::clap:

grtz.
Bob

 

[TheRumpledOne]

Hey Bob: Sounds like we started programming the same year.

 

[MajorMagnuM]

Hey Bob: Sounds like we started programming the same year.

tro are there any more videos i need to watch?

 

[TheRumpledOne]

tro are there any more videos i need to watch?

I have not made any videos about this method. I did post 2 yesterday:


YouTube:TRO MORE HORIZONTAL LINES

YouTube:TRO TRADERS MIND MISTAKES SOLUTIONS

 

[4exbob]

Hey Bob: Sounds like we started programming the same year.

yep, in the pre-pc time.... the 'good' old time😆

 

[TheRumpledOne]

yep, in the pre-pc time.... the 'good' old time😆

Punching cards...

10cps dialup...

Rooms full of disk drives, tape drives, ...

Flow chart stencils and Coding sheets... LOL!!

BASIC, FORTRAN, COBOL...

 

[Forexmospherian]

yep, in the pre-pc time.... the 'good' old time😆

Punching cards...

10cps dialup...

Rooms full of disk drives, tape drives, ...

Flow chart stencils and Coding sheets... LOL!!

BASIC, FORTRAN, COBOL...

I have never tried programming - but can remember those days - I did not even know how to use a computer until I was 45 yrs old - little did I know that 3/ 4 yrs later it would be my future money earner 😉

It was all fax machines - no internet for most of my early business years - now I think about it - maybe not the good old days - why could I not have a iphone 5S when I was 16 to dump my girlfriends etc 🙂

My kids laugh when I tell them I did not even have a mobile / cell phone until I was 33 yrs old - as they were then in those days just expensive toys for yuppies

 

[Chalky_trader]

Punching cards...

10cps dialup...

Rooms full of disk drives, tape drives, ...

Flow chart stencils and Coding sheets... LOL!!

BASIC, FORTRAN, COBOL...

Punching cards - those were the days 😉

I used to be a univac 1710 service engineer, quite a few years ago! that was before i went on to wrenching Mainfraime computers!!