Lets all join the Millionaires CLub

[FetteredChinos]

One word -

NADGERS


went out to the cinema this evening (saw Big Fish - highly recommended if you are interested) having left work just gone 6 with my trade about 50 points to the good..

what do i find when i get home, but that i was on the wrong end of a spannering - Dow selling off 200 points in just over an hour. 😱

still, i suspected this may have happened, so on the bus home this evening, i have been dreaming up a few new ideas, for what they are worth. and this time, goddamit Jim, im gonna test them using data that is accurate!!! 🙄

still, im not giving up on this version just yet..buy trading it live i may see how to actually make it worthwhile..

all part of the learning curve chaps....

still, i live to fight another day, and in between meetings tmr i will post what i have worked on in the meantime.

ciao for niao chaps/chapesses.

FC

 

[ColinRiche]

Good post BigBusiness

So if the chart on the left is the Cash and the one on the right the contrived...

Have you got one to show the futures as well ?
,

 

[ColinRiche]

FC

I'd be interested in seeing what sort of results you get by using pivot points instead of Highs and Lows
.

 

[rglenn]

ColinRiche

FC's idea is that it makes money if it closes within yesterday's range.

Thanks for that Colin

Although some people will disagree - but I think this system as potential -very much like the Jpwone's system.

I can see where it can be tweaked to good effect.

I think some people are far too busy debating about futures and cash data rather than refining a system with potential.

The amount of times I have heard that you can't trade this and you can't trade that it's becoming like a stuck record.

Who cares what people want to call it.

Let's agree to call all data Auntie Pearl and get on with developing good ideas!

 

[FetteredChinos]

Colin,

Agreed, re😛ivot points...

i tried all of my ideas out last night, including rolling 3 day fib targets (dont ask!!)

but i woke up this morning with a brainwave based upon pivot poins +/- a Chinos Factor...


I'll see what i can come up with when im at work and have access to a PC that doesnt run on coal.

Rg,

would you care to share your refinements???

i was toying with the idea of saying, reverse the initial position if i went say 50 points against, but that didnt really affect the overall results 😕

FC

 

[JonnyT]

A few points:

1) This system has zero potential as it stands. It doesn't have an edge

2) The ShareScope data is taken before the market closes!

3) You cannot use the cash index to trade any vehicle be it a spreadbet or future.

4) The actual OHLC of the mini dow future was 10610, 10639, 10418, 10465

JonnyT

 

[Zenda]

Someone ought to tell!!!

There just ain't any system that works - someone should tell - mind you there are some really expensive ones that fail as well !!

Lots more here -
http://www.master-futures-trading.com/7/daytrading-system.html

 

[FetteredChinos]

I know Zenda, I know...

in part this is a mental challenge im setting myself. to see if it is possible to create a trading "methodology" (does that sound better?) that can be based upon the fewest number of inputs. obviously coin-tossing etc is pretty much the least (apart from LTBH) .

however, out of my curiosity i was wondering if the days close bore any meaningful relationship to the previous days range/patterns...


strike me down now if you want, this is just an intellectual exercise! (although with money on the line again today - watch us have another breakout and run like yesterday lol)


FC

 

[TheBramble]

F Chinos it looks like your short trade as triggered today!

Are you in the money!!

I'm p-trading FC's system as well and I went long at 10621 (below previous day's low) - stopped out at 10604. With the target at previous day's high -10 or close you couldn't do much else, but had I had my normal sliding S/L in place, I would have taken something off the table.

It's a fun one to follow...

 

[FetteredChinos]

Blimey Brambs, thats pretty brave of you (even on paper) when this system as it stands is pretty flakey at best!!

 

[TheBramble]

but i woke up this morning with a brainwave based upon pivot poins +/- a Chinos Factor...

FC - if this is the first thing on your mind in the morning, it's a good sign!

 

[JonnyT]

You can have my working Forex system for $50,000 along with 1 years software updates!

JonnyT

 

[TheBramble]

Blimey Brambs, thats pretty brave of you (even on paper) when this system as it stands is pretty flakey at best!!

Not really. I am also looking at correspondence between close level and prev days range on some other instruments, but in conjunction with their opening level the next day.

I'll tell you one thing though, if any of us do come up with a system that we can sell for $50,000 a shot - I don't think I'd want to 'dramatically limit the number of systems sold'...!!!

 

[FetteredChinos]

$50,000 Jonny? is that all??

surely your system can tell you that in about 2 years time that will be equivalent to about £1.50 ??


maybe you need to have a word with your marketing alter-ego!

 

[JonnyT]

Ah but the price goes up $5000 per week.

It has returned 30% plus net this month for a risk of less than 1% of equity per day. This is an average month.

JonnyT

 

[mombasa]

well, if nothing else, this thread is good for a laugh or two - nice one FC 🙂

 

[TheBramble]

It has returned 40% plus net this month for a risk of 2% of equity per day. This is an average month.

JT - That's not too bad is it!

I seem to have mislaid the details of your FX system - care to remind us?

 

[TheBramble]

It has returned 30% plus net this month for a risk of less than 1% of equity per day. This is an average month.

JonnyT

On the other hand, at this rate, perhaps not....

 

[JonnyT]

Bramble,

I under estimated the results so carried out a quick calc.

In backtesting the system has averaged over 10 pips per day.

In forward testing using real trades the system has averaged around 10 pips per day.

The system trades once per day and has a stop loss of 5 pips.

Anymore info and it will cost you $50,000

JonnyT

 

[FetteredChinos]

Ladies and Gentlemen, I am pleased to announce the birth of a new Chinos. He has got his own special trousers, and he now weighs a healthy 30 points per day 😀


rules are somewhat more complex. than before...


1) calculate the range for the previous 2 days

2) average these two figures

3) multiply by the Chinos Fudge Factor (CFF) in my testing 0.1 seems to work best (obviously can be tuned further)

4) the levels triggering a BUY/SELL are yesterdays close +/- the result of 3)

5) set up limit orders at these levels and close at market close.


Bob is then Chinos' Uncle.

I have tested this on downloadquote's data (so no arguments about the data quality please) and the results are pretty good. 20pts per trade.


can someone please double check my sheet to make sure im not going totally mad...

FC