Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Millionaire in 10 weeks & Conversation with broker
Hi - Do you run your tests in market replay or is it the strategy backtest engine on TS? I ask because all these backtesting engines regardless the platform, can be highly inaccurate, particularly if you're using different types of bars (I think you're using Kase bars?)
I used to have TS but their commissions are too high for scalpers. But EL is an excellent development tool. Much easier and more flexible than Ninja.
Anyway, it looks like your strategy is somewhat similar to Martingale which continues to double up. I'm just wondering if you've considered that each trade is independent of previous trades, regardless how the strategy is programmed. If you have unlimited cash to cover drawdowns and limitless time, then the strategy can be successful. But it's unrealistic to think that in a 10 week period you can rely on a setup like that to be successful. If you're working with programmers, I would suggest that you (and they) consider the optional stopping theorem. It's very relevant to doubling strategies.
In any case, good luck with your strat. Remember, even if something doesn't work or has to be tweaked, it's important to know what DOESN'T work as well as what does work. It's the first lesson you learn as a researcher.
I don't run test right now because this doubling technique is just that, a Money Management Technique and without a Trading System, it goes nowhere.
That's why I need help of programmers to convert this EasyLanguage code in to C# and then once we have this indicator on our screens, we will move to the Trading System part.
So yeah, we are not there yet but it's coming along.
Martingale is dangerous because it has no safety nets. It's constant doubling over and over again and we all know where this leads. You have to stop at one point and either bring back all the $ into the first columns of $25 or do like on my diagram here, orange backups at every level you go so that you have at least one safety net per level in case you can't double 3 times in a row.
We'll see
CSHRUM,
Here's a screenshot of the ES chart for today and yesterday. I haven't found the best settings for the ES because the RTY pays better but if that chart is trending, my indicator should find that trend and show you the best dips to enter.
May I suggest you simply go over to Upwork.com and hire a programmer for your C+ indicator. I have used Upwork before and it was quick, smooth and extremely affordable if you are looking to hire a programmer. Good luck!
Thanks but I already have a few programmers contacting me (maybe more than I need right now) because I didn't want to hire a guy who don't know trading. I want a mix of trader and programmer that can see it's potential and looks like I was right because I received some PMs.
I am glad you created an indicator that helps put the odds in your favor. I have created/edited indicators in TOS which uses Thinkscript. I use NinjaTrader for futures, but unfortunately don't know how to write code in C++ or whatever they use. However, I may be able to recreate the indicators in TOS and back test them while also making the formulas of the indicators part of the bars (renko, tick, range, etc...) that way when conditions are met the bar will show a certain color, that way all you need is the bars on the screen. If you'd like to send me the code, I can give it a whirl. Also will these indicators work on any market/timeframe or have you not tried them on anything else but what your currently using?
