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MultiCharts Webinar: Peter Campbell - Systematic Trading with MultiCharts
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MultiCharts Webinar: Peter Campbell - Systematic Trading with MultiCharts

  #11 (permalink)
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were you long today?
dont take your greed caused losses on us.
or maybe didnt take his medications.

I think it was JD Rockefeller who said Lord give me a little more money than I need,not more. Lots of wisodm in that statement by the richest man on earth once aupon a time.

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  #12 (permalink)
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Tip


The recording of the webinar has been posted:

Webinar: Systematic Trading with MultiCharts




Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #13 (permalink)
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Great Radio show


since there is only black screen shows from Peter's screen. Yet worth to listen to!
Good questions from Mike and "secrets" from Peter.
Thanks BM, Peter and Stan.

atata

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He started to say some interesting things towards the end.

When he comes back, I'd like to hear more of his thoughts on how, or if a retail trader can begin to define a systematic approach to system building.

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Notes from Webinar

These are my notes from Peter's webinar - perhaps someone will find this helpful.

Peter's advice - Keep it simple, best tool is proper allocation, use proper intervention, Less is more, trade the right amount of money, keep mistakes manageable, less trades lead to more profitable results, accept/acknowledge/accept risk as long as not confused, embracing the risk other people can't handle - don't trade small with many trades, do the opposite, Embrace risk and trade as little as possible, trade less, use market orders, scale in and scale out - take the risks other people

won't, invest time in learning, learn Multicharts, build and manage positions, the more money he trades the lower his risk, he gets positive slippage, build his order as a subroutine, models his management and performance fee, only charges performance fee and no management fee!!, he has a number of months where he does not trade at all, when he trades less he is more profitable, wants to be in the market as little as possible, and trades only highest probability trades, achieve

your vision with lowest number of trades, only take risk that other people won't take and don't be scared, uses dlls and powerlanguage/easylanguage, architects out where he wants to take a trade, scared of a systemic banking problem so he totally embraces risk and layers his risk, models his bias, never reverse, know what your bias is in the market and you know your risk direction and then wait for better opportunity than last time, don't get into big draw downs, doesn't have many

losing trades in a row because bias tells him direction and then he finds area to trade and how to take a trade as to price and market volatility, order management is very powerful, bias decision point and position management to build profitable trades, he builds systems to handle the exceptions, scales in and scales out, hedging and arbitrage do not work, he trades a single future, trades equity indexes (Why? -safer, a lot of liquidity - 24 hours and cash index and a lot of ETFs and

securities underneath it), focus on one market and scale into and out of trades and raise the necessary money, people don't understand why they use stops - but make money by proper allocation and take as much risk as you can bear….this is an art form….you don't want your stops too tight, proper allocation is the best risk management tool, the answers usually lie in the opposite direction, people operate in a vacuum, overnight session is an important area to make money and hold

overnight…..very few times does he closes flat, he holds overnight, his average trade is 30 points on the ES!, if you can plan and build things into your model to account for them….trades six different markets all similar to the ES, two most important attributes of price is the center point of the current price, uses monthly ,weekly quarterly VWAP and know where volatility range of the price, doesn't like MACD, BUT can uses indicators by a count i.e. count up the failures and MACD and increase ,

skipping trades is the best way to trades, looks for second indicators, use common sense, your best friend is price, doesn’t pay attention to things that could distract him, the more information people have - the less likely they are to make a decision, the same structures in the Great Depression are happening now BUT it happens more slowly….protect your sanity…..just look at price...BUT he is very aware of A, B, C patterns as a setup….i.e. zigzags….A, B, C is the most common

structure, harmonics i.e. noise, and harmonics motivate people to react...harmonics are where people are likely to act...believes in A, B, Cs and market symmetry, tracks every tick manually and where bid/ask and use uptick and downtick calculations and where price closes on a daily basis and looks at volume at closing price, and need to know your bias on the daily bar and the daily volume, starts at daily time frames and executes on lower time frames, the 15 minutes from 2:00 and 2:15 can

be used in projecting the next day's price, 8:30 ET is where the market decides it's going to do, concentrates on price and TICK and longer term volume the closing price and prior day's volume (up, down), keep it simple , fewer indicators and trade less, hold back while people are going crazy trading a lot, MUST take the risk other people don't want to take, so if trading less you are taking the necessary time outs or breaks, psychology is powerful, must defend your psychology the cleanliness

of your system and your brain, fundamentally his system is to protect people, no shortcuts and work harder, wrote his clients to protect them from inflation and deflation, need to have a clean process to protect yourself. Credit is a trigger for open/close transactions to do the opposite...ie when people get over leveraged people do the opposite of what they are supposed to, any use of credit is an anomaly….exchange of credit is disgusting and dangerous and will fall apart and that's

why markets are so dangerous….Saudi Arabia is in deep trouble and financials are in deep trouble too, hugh bubble in commodities.. ...look for his blog link on BigMikesForum.


Last edited by jimmcla; August 5th, 2011 at 12:31 PM. Reason: Trying to improve readability
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Holy run-on Batman!!!

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  #17 (permalink)
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nice and different webinar and some insightful comments from peter, thanks bigmike peter stan

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Even though we can't see Peter's screens in the posted recording, I still found it quite a valuable webinar. Thanks for making this possible Mike, Stan and Peter. Really appreciate it.

Looking forward to the follow-up webinar.

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  #19 (permalink)
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Jura View Post
Even though we can't see Peter's screens in the posted recording, I still found it quite a valuable webinar. Thanks for making this possible Mike, Stan and Peter. Really appreciate it.

Looking forward to the follow-up webinar.

Yes, sorry about the screen issue. I could actually see it during the webinar, just the very first still screen when he first joined. I'm not sure if everyone else during the live webinar could see it or not, I assume yes. Not sure why it didn't make it into the recording.

The screen basically showed his strategy on the Russel. There were other tabs for ES and other markets. It should the entry and exit, which were hundreds or thousands of trades scaling in and out of positions over days at a time. The signal time frame was a 1-day chart, with entries happening at lower time frames. There were many periods where the strategy was flat for quite some number of days.

There was also a bottom panel 2 indicator which showed the strategy performance over time, what I believe was the net profit, in line format.

Hopefully that adequately explains what was on his screen.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #20 (permalink)
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I thought the webnar was very good as well. I look forward to his return with visible charts..he has a unique way of looking at trades.. Less is more, I think he focuses on the highest probablity trades and is patient enough to wait for ONLY those trades..then loads the boat with contracts..scale in scale out is what he does too.
He said 1 in 1 out is a losing game for retail traders, something to think about..

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