Strategy SEMI AUTOMATED
|January 25th, 2011, 12:43 PM||#1 (permalink)|
Futures Experience: Intermediate
Favorite Futures: forex
Posts: 32 since Aug 2009
Thanks: 28 given, 6 received
Strategy SEMI AUTOMATED
Hi Mike and All,
I am starting this thread for the following reasons:
1) I am looking for tool which allow me to slowly develop idea from manual trading to semi-automated and at the end fully automated strategy.
The reason is that I believe that everybody trades differently and we need tools to help us discover what style of trading fit to each of us . By walking through the trades manually with force entry and pop up window we can slowly discover which style,instrument, frequency of trading, risk, ... fit to us.
2) I need signal from indicator which will show me arrow for entry and pop-up window asking if I want enter. This window should have predifined number of lots, SL with distance and TP with distance.
At first stage I will focus on 1 lot only with SL and TP. I will be forced to focus on 1 instrument and make decissiion to enter.
Backtesting can be helpfull but forward testing with live desition making is better. In backtesting I usually dont check the news and some news are unexpected announcements which make Backtesting very questionable. Would I trust backtesting results which I already question with real money 5 to 12.50 per tick? No way.
At later stage this entry should be with options like market order, limit, stop
After entering the trade from pop-up window SL and TP should be movable by drag and drop.
Eventually there will be option to let Strategy to run lets say from 930EST to 1130 EST with option to close any time the trader dicides.
3)This Semi-automated Strategy will allow test available indicators with simple Strategy. I can visually see if I am in the trend or signal is contertrend. I can see distance from BB but I dont know how to programm it and I am not sure which criteria I will use.
4) During my testing I found out that backtesting with several lots and many criterias have sometimes worse results than simple 2lots, with 1st lot closing very early and 2nd runner with BE and TS. If Strategy is too complicated and heavy with money management I dont understand it and I am lost.
5)The main goal is to find good set ups with criterias which are profitable visually on the charts and slowly move them into semi-automated state.
6) Some traders have problem to pull the triger and even 1000s books about psychology will not help. But being force to click on signal window is practical treatment of this problem. Somebody who overtrade can set up system which allow him to trade just limited number of trades with good signals.
7) I realized that I am missing most of the trades for many reasons and I believe if I have pop up window with sound allarm I could improve.Trading fast moving markets profitably is not possible for me without right tool. When signal comes I need to be in or its too late.
Many good ideas are in Elite area and I will post similar info there that I can use tools from that area.
I start using Mike's "General Strategy" from Elite area.
If you know about simillar tools or threads please let me know