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MACD and Stochastic sucks???
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Created: by Lord Sidious Attachments:11

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MACD and Stochastic sucks???

  #31 (permalink)
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ThatManFromTexas View Post
Maybe you'll be lucky and get laid off .... (Joking!)

I run my own business. IT consulting, the last years around trading. Spent 17 months as one lead for building a major risk management data warehouse (we talk of servers running 21000gb volume, loading and processing around half a million trades per day).

Now back to trade automation. Sadly some of the stuff I work on is not trivial to automate. This is why I try to put a lot into various filters.

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  #32 (permalink)
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NetTecture View Post
I run my own business. IT consulting, the last years around trading. Spent 17 months as one lead for building a major risk management data warehouse (we talk of servers running 21000gb volume, loading and processing around half a million trades per day).

Now back to trade automation. Sadly some of the stuff I work on is not trivial to automate. This is why I try to put a lot into various filters.


My main objective is to become a full-time trader.

At the moment I can´t because my money is not enought (far from it - just €8000), and honestly, because I need to learn so many things...! Oh well!!!

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  #33 (permalink)
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Same here. For that I need about 1000 USD Per day on average, otherwise - it is simply not sensible. Even then I earn less than now, but at least i have my freedom. THAT SAID - this is quite easy to achieve IF you can trade well (i.e. capital buildup does not take that long).

I think I will spend next week sim trading full time with the stuff I am worknig on on a number of markets and publish a joiurnal, as well as my setups. Give me a day to work that out (especially I need the parameters for some more markets as well as set up automatic stops etc. - I trade by chart, but I prefer stop and target to be automatically created with default values when I enter a trade, it is faster to move them than to create them). And I need to set up some rules for the week (trading times etc.).

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  #34 (permalink)
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monpere View Post
Sure, indicators can be absolute command, that's how I trade, that's what a strict mechanical method is all about.

Why do you not automate this system since it is so mechanical and so proven and tested?

Why are you not trading hundreds of simultaneous markets with 100 lot orders, and retire tomorrow?

Mike

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  #35 (permalink)
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Big Mike View Post
Why do you not automate this system since it is so mechanical and so proven and tested?

Why are you not trading hundreds of simultaneous markets with 100 lot orders, and retire tomorrow?

Mike

I have tried, but I've never been able to get the code to recognize the signals 100% correctly like my eyes can see them on the screen. The coded signals are probably only around 70% accurate, so I can consistently trade the method better then the automated code based on the rules. Maybe if I was a better programmer it would be different.

I'm not advertising my approach or any particular method, I'm saying this approach works for me. You can see my charts on various threads with the indicator signals, and my entries where they are actually suppose to be. You are often on the Euro 6E thread, I have recent charts there and other places. Even if I ran fully automated, given my personality, I would probably sit in front of the screen and watch it trade all day. Otherwise, I'd have to find a life outside of trading


Last edited by monpere; May 2nd, 2012 at 02:09 AM.
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  #36 (permalink)
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monpere View Post
I have tried, but I've never been able to get the code to recognize the signals 100% correctly like my eyes can see them on the screen.

So you use discretion.

Mike

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

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  #37 (permalink)
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Big Mike View Post
So you use discretion.

Mike

Maybe not. If there is a pattern recognirtion part in there then - you need someone who knows programming for that. Real programming. As long as you only work on formulas - it is quite trivial, but even something channel determination etc. is quite ocmplex code and over the head of someone "just" managing to program indicators.

Could be discretion, could be as he says - if he would know programming better.

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  #38 (permalink)
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Big Mike View Post
So you use discretion.

Mike

No, I manually follow strict rules that I have not been able to code. Mainly because the rules have pattern recognition of squiggly lines, and recognizing squiggly lines is not easy to code, even though they are quite easily recognized by the naked eye. That's why I've been attracted to Renko type bars, because they render indicator lines straighter smoother, and sharper, removing a lot of the curves, this makes the line patterns a bit easier to recognize programmatically.


Last edited by monpere; May 2nd, 2012 at 03:19 AM.
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  #39 (permalink)
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Beljevina View Post
I don't trade YM, but here's what I see. You shorted into established MA support, as shown on your chart - not sure which MA that is, but it seems to be serving you well, showing price support. On a melt-up day like today, that's important, as is the ability to recognize the crazy rise that the big boys were casting upon the markets: before you short and step in front of a fast moving freight train, you want to see some sort of confirmation of a move down.

Looking at my chart (which is sort of my default template for new charts), one can see the stringent obeying that price did of resistance levels (especially R2 and then R3). Your chart MA is better than my lowest one (EMA 21, dashed yellow line), since the EMA 21 will not provide support to this type of fast moving market, which is rare momentum.

After that wide range 5m bar that took price to 13192, one needs to be suspect of what will come next; no move down in succesive bars is a hint at a melt-up day about to form or further continue; today was a quite fast moving one. The 10am EST news was much beyond expectations, so the big boys took advantage of it. With Europe closed and no precedent set, it makes it easier and more likely for price to explore higher. I have a peak value price indi that plots the close of the WRBs that have huge volume associated with them - you will find this at minimum is a decent price barrier. (13192 from that ~10am bar)

Uncannily great support is provided by the fibs of yesterday's PA (indi by Fat Tails) - I extended the lines to the left of the screen, showing 78.6%, yest-high (100%), 127.2% of yesterday's price range. Notice how price slices through and moves through each potential barrier with ease. Combined with the move north of R1, then R2, shorting is an iffy undertaking most of the time. Notice how after R2 and 161.8% of yesterday's price, it continues to move north. At that point, 200% becomes a natural magnet as does the next level of resistance, R3 in this case. At that point - after having sliced through 3 resistance levels and gone double yesterday's price movement, the average daily range is quite high (sorry I don't have it on here, but ES was 20.5 ADR) and potential shorts can be looked for, BUT too often, the big boys will leave the price here, and range things, as they distribute (or accumulate). If I have not ridden it up to that point, I am not in good psychological shape to look for shorts, on what usually end up being table scraps or stop-outs, and I am looking to other markets for moves that have not finished, or are not heavily correlated.

I also use some other techniques and tools, but since I don't trade YM, I won't go there.
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Thank you for you help!

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  #40 (permalink)
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Beljevina View Post
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@Beljevina

How is it possible for price NOT to hit a line on your chart?


monpere View Post
No, I manually follow strict rules that I have not been able to code. Mainly because the rules have pattern recognition of squiggly lines, and recognizing squiggly lines is not easy to code, even though they are quite easily recognized by the naked eye. That's why I've been attracted to Renko type bars, because they render indicator lines straighter smoother, and sharper, removing a lot of the curves, this makes the line patterns a bit easier to recognize programmatically.

@monpere

If I go long and say I went long because the chart looked "good"... and the next time the pattern appears and I don't take it because the chart didn't look "good" is that mechanical or discretionary?

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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