Godzilla 

Yep - mDax is the miniDax. Mini Nikkei would be a great market to trade BUT the minimum tick size is 5 point(expensive)...eg ..mDax is 1.0, Bunds 0.01, HSI 1 etc........Josh knows all about the Nikkei as he trades it daily just have a look at his earlier posts. I've never bothered with it due to the tick size.

Thanks again Godzilla

I don't yet have access to a reliable data feed, but I've been looking at a 5 min mDAX chart on Investing.com - https://www.investing.com/indices/mini-dax-futures-advanced-chart

There's some good movement once Frankfurt and then London opens.

Do you think my SL would be too large on "signal bars" to trade the PATS method effectively?

Just doing the math on some of those bars...one could lose a lot of money trading just one contract if a trade reversed. I guess the trick would be to make sure I had a large enough account so that those sorts of losses would still only represent a relatively small amount.

I'm also mindful that the whole point of Mack's method is to be picky and shoot for very high-probability trades due to the higher risk vs reward ratio.

Cheers

Would you be journal ling this experiment and if so it would be great to see your results based on this experience?

emmett 

Thanks again Godzilla I don't yet have access to a reliable data feed, but I've been looking at a 5 min mDAX chart on Investing.com - https://www.investing.com/indices/mini-dax-futures-advanced-chart There's some good movement once Frankfurt and then London opens. Do you think my SL would be too large on "signal bars" to trade the PATS method effectively? Just doing the math on some of those bars...one could lose a lot of money trading just one contract if a trade reversed. I guess the trick would be to make sure I had a large enough account so that those sorts of losses would still only represent a relatively small amount. I'm also mindful that the whole point of Mack's method is to be picky and shoot for very high-probability trades due to the higher risk vs reward ratio. Cheers

Hi mate,

Firstly....don't trade/practice on 5min bars...you need "TICK" data to give yourself a better chance of success...tick charts are based of actual exchange transaction volume....they are different and superior to time-based charts....it will be harder to find actual "tick" data as you need the actual exchange feed (impossible to find free on the internet from my experience) EUREX (non-pro) fees per month is EUR30...this is money well spent...fund your account with EUR400 and SIM trade for a minimum 6 months and see how you go..you might need more time as everyone is different.

Alternatively you could only take signals on smaller bars to limit your risk (this is mentioned in Macks manual as well) - this will take practice to identify and execute in real-time....remember once you get your trading platform (SC recommended) and the Eurex feed you can SIM trade on Sierra Chart everyday once your connected to get better at a faster rate....practice practice practice. I always replay days when I've had poor results to learn from it....

Agreed on the Risk/Reward ratio - PATS really works off a high percentage win rate....as the risk/reward is low at 50% hence the expectancy of the strategy requires a win rate >50% to be profitable. Macks win rate is around 85% which implies expectancy of 20% but it's even higher as he uses "runners" to pump it up a lot more.

vishals81 

Would you be journal ling this experiment and if so it would be great to see your results based on this experience?

Hi Vishals81,

I post my results every Friday for the current week....I used to post daily but it's a PITA hence once a week.
Last week I didn't trade much as the kids were a distraction but I'm back at it this week..

Super stuff

Godzilla 

Hi mate, Firstly....don't trade/practice on 5min bars...you need "TICK" data to give yourself a better chance of success...tick charts are based of actual exchange transaction volume....they are different and superior to time-based charts....it will be harder to find actual "tick" data as you need the actual exchange feed (impossible to find free on the internet from my experience) EUREX (non-pro) fees per month is EUR30...this is money well spent...fund your account with EUR400 and SIM trade for a minimum 6 months and see how you go..you might need more time as everyone is different. Alternatively you could only take signals on smaller bars to limit your risk (this is mentioned in Macks manual as well) - this will take practice to identify and execute in real-time....remember once you get your trading platform (SC recommended) and the Eurex feed you can SIM trade on Sierra Chart everyday once your connected to get better at a faster rate....practice practice practice. I always replay days when I've had poor results to learn from it.... Agreed on the Risk/Reward ratio - PATS really works off a high percentage win rate....as the risk/reward is low at 50% hence the expectancy of the strategy requires a win rate >50% to be profitable. Macks win rate is around 85% which implies expectancy of 20% but it's even higher as he uses "runners" to pump it up a lot more.

Yes, you're completely right regarding tick bars and quality data. I'll quit hijacking your thread soon, I promise! But since you mentioned SC, I have been wondering whether to go with Multicharts or SC. I have to say, I downloaded the SC demo a couple of weeks ago and it was overwhelming. It makes Metatrader 4 look like a child's toy! Multicharts does look pretty slick, but I have little more than "look and feel" to go on at this point when it comes to platforms. I'll do some more research anyway.

Thanks again for your advice, Godzilla.

Cheers

emmett 

Yes, you're completely right regarding tick bars and quality data. I'll quit hijacking your thread soon, I promise! But since you mentioned SC, I have been wondering whether to go with Multicharts or SC. I have to say, I downloaded the SC demo a couple of weeks ago and it was overwhelming. It makes Metatrader 4 look like a child's toy! Multicharts does look pretty slick, but I have little more than "look and feel" to go on at this point when it comes to platforms. I'll do some more research anyway. Thanks again for your advice, Godzilla. Cheers

SC is a solid platform - written in C+ (I think ) so it's fast & stable....MC is good now I understand but it's a memory hog versus SC...but it's no doubt improved since I looked at it years ago.

I view MC as the modern day version of Tradestation2000i - ( the first retail back testing platform) yes I did own that piece of crap in the 90's but we didn't have much choice back then...it was cutting edge back then LOLOLOL!!!

Both are ok but i'd go with SC, it's worth it - you only need a tick chart + 21EMA with the "Chart Trader" enabled so you can 1-click place bracket orders...piece of cake! This is one the biggest benefits of PATS - no custom add-in's , no custom programming ot indicators, no BS....KISS principle in real-life.

Trading Results for Week 11-15 May

Monday - already posted.. ok day +40tics (4/5 wins) bought into Resistance - idiot.
Tue +60tics (3/3) perfect patience
Wed +80tics (4/4) - on a roll
Thu - +40 (4/5) 1 loser - too early - impatient..dumb error
Fri - perfect +60tics (3/3) even though helping Daughter with Maths .

Good trading given the kids were home for 4/5 days this week.....

Trading results for May 18-22

M - (6/8) +28tics -struggled a bit after 2 losses in-a-row.
T - (3/3) +60tics - perfect trading. Fast market as well for some reason?
W - (6/8) +6tics -struggled with 2 losses caused by buying at the highs....complete idiot.
Broke : Rule 1 - never buy at the highs without enough space to get out.
Th - (5/6) +45tics - 1 error sold at the low...Broke: Rule 2 - never sell at the lows without enough space to exit. - idiot
Fri - (5/6) +60tics Very fast market today not sure why everything is moving so fast given it's a Friday which is normally slower? 1 error - late entry - if you miss it -move on for the next set-up...got greedy and paid the price.

Overall good week but still making some dumb errors...

NON - HANG SENG trading related update:

Been spending a lot of spare time (in lock-down) lately building stock trading models as I sell off my property positions I'm aiming for 7 "income" streams (LOL!) I need to put the capital to work - kinda lost faith in property these days and the stock market is on a tear lately. Goal is for diversification of model types, holding periods and markets.

M1 - LT momentum - retirement Account +18% YTD (hope it holds) ASX300 stocks
M2 - LT momentum (different entry method) - S&P500 stocks
M3 - ST - buy the dips - S&P500 constituents(day trade) - 75% accuracy currently(><)!!
M4 - ST - buy the dips - ASX300 constituents (max 5 day hold to overcome IB brokerage costs) - low volume
M5 - Relative Strength - Monthly hold and rebalance - ND100 constituents
M6 - NEW model in beta - DT Range breakout on top 10 most volatile ND100 stocks - good back test results
(but will it hold up?) - I've been burned on ORBO models in the past on futures - have I learnt from my past mistakes?
With 25% margin on US stocks for day traders the numbers make sense.

M7 - PATS - Hang Seng day trading as per this thread...

Seems like a lot of work but PATS is the most time intensive by far and the others are basically downloading data and loading orders the IB TWS bracket trader which I can run in under 30minutes/day....


Added Friday trade entry snap.

Godzilla 

Trading results for May 18-22 NON - HANG SENG trading related update:

Please do continue sharing your work with the other models, very interesting. It's also high on my list to do, actually my list looks very similar but I have had to put day-trading lower as business keeps me tied down (but pays the bills haha).