Hi guys, this is my first posting in this forum; I read through almost all the pages of this thread and first of all have to thank the guys coding this for the effort they put in...
To sum it up (please correct me if Im wrong): There are two basic versions of the VSA strategy within this thread to download: the one file called VPA_Ninja2, the other VPAv1_08; they only differ in the colour of the candles...there are several pdf/Excel files to understand the meaning of the symbols within the chart. Additional studies (Trend Signal etc.) can also be added and downloaded.
Regarding the profitability I do not know how profitable this system can be traded. I do not know either how reliable the symbols are: It was said that the Supply test bar (white square) often delivered good signals. What can be said is the higher the time frame, the more reliable the signal (Daily, 4H chart).
I do also not know to which extent the signals lag behind.
Questions that occur from my side: It was mentioned that implementing an alert list what help alot; is this possible, did somebody do it?
What about the alerts themselves on a daily timeframe; are they a good indication, which ones are most reliable?
However if the combination of several signals would deliver a clear buy/sell signal, why not run it as an Automated Trading system and backtest it profitabilty?!?
Also someone mentioned AlgoSignal within this thread; does anyone have experience with it, is it any good?In IMO I like to backtest before I start trading a strategy.
Best of luck and thanks for some answers/corrections
Last edited by Jonny474; June 27th, 2011 at 10:00 AM.
As for the best time frame to use. This is a trial and error process that you go through in your learning process of developing your own trading style. Trading style is not the same as trading method. Using what Wyckoff teaches is a method. Choosing the time frame of how often you want to trade is your style. Larger time frames provide the trader with an overall perspective of the market's (or the instrument's) performance. Smaller time frames provide the trader with information on timing a trade. Once you've decided on how you want to use time frames, make a trading plan and stick with it. Learn how to make a trading plan.
I think what you mean by alert lists is more commonly called watch lists. In some trading platforms this is like a portfolio without the buy/sell prices. You just monitor the current prices. If you want to set an alert with a sound or an email for a price or a indicator, you need to use the instructions for the specific trading platform.
Automated trading is very risky for unexperienced traders. Basically, the accuracy of an automated trade is no better than what a trader would do manually.
The following 3 users say Thank You to StockJock for this post:
I am currently using TOS. Its not that Im totally unexperienced, but I have been more of an investor than a trader in the past. A lack of discipline always failed me as a trader.
I really have to take a look at Wyckoffs work. At the same time you have to have the capital to trade smaller timeframes; after commission and going for 1-3% (what is alot on small timeframe) your position has to be accordingly; futures, CFD or E Minis trading is sth different because of the leverage...
About Automated Trading: It is hard and for a beginner in coding not possible to come up with a superb EA. I will check out AlgoSignal and some other platforms for that purpose. AlgoSignal provides signals on different timeframes based on specific Algorithms. If somebody has experienced AlgoSignal before please contact me.
You should really back and FORWARD test your Automated Trading Strategy before you go live with it I suggest.
Ask the ThinkOrSwim support about getting linked to Prodigio which is also free with your TOS account. It has automated trading and they have lots of webinars and video archives to train you how to use it. Also you might like the Prodigio Discussion Forum. You can also get training through the TOS webinars.
Yes, you are right its hard. If it was easy, everyone would be doing it - like money growing on trees. Successful traders are those with stamina to keep going until you become good at doing it. Learning, testing you skills with papermoney and then doing live trading.
The following user says Thank You to StockJock for this post:
I was just checking out Prodigio- I think its a great tool- but I did not come up with a really profitable- and I mean really- straetgy yet still working on it...if somebody wants to share a REALLY profitable strategy (probably not why would you) let me know...I am not able to write private messages yet but soon I will be...
It certainly looks impressive. I'm not into automated trading yet, so I don't have any advice to give you on that. I'm not comfortable with programming macros as I've been using ThinkScript for TOS or AFL for Amibroker, so I haven't done anything on Prodigio's macros either. It appears that a lot of other things it has are more advanced than TOS and can be very helpful. The only thing that I've been interested in regarding Prodigio is the Point and Figure charts, but their tech support told me that they haven't received very many requests for PnF charts; so they haven't completed that module. Prodigio's PnF charts don't work properly.
I referred you to Prodigio, because you said you were interested in automated trading and you are currently using TOS. Since Prodigio is available free for TOS users, you can have access to it. As with using any another platform, there is a learning curve that you have to go through to become proficient and I did give you links to their videos and discussion forum. The reasons why I don't use Prodigio may not apply to you. I think Prodigio is a good trading platform once you go through the learning process of how to use it. Currently, I'm happy with TOS.