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System of Pending Orders

  • #81
  • Nov 18, 2018 3:34am Nov 18, 2018 3:34am
Quoting spotrate
Speaking from personal experience I would avoid any basis for a system that heavily relies on having a bias. Whether it'd be using higher timeframes or, only the current timeframe, or believed to be more probable to reverse and then continue, or long-term trend, or making entries on pull backs or any of that. That's not what is going on here since you're curious. But you are right about there being filtering. There is actually quite a bit of filtering. The many filtering isn't something I thought of at once. It has been a work-in-progress over the...
Of course

The reason i was drawn to your thread is precisely because i already trade in a way that is similar to what your doing here. Hence i go looking for ways to improve my existing systems and am precisely looking for information on your entry filters rather than anything else - certainly not so much interested in blindly following your TE but seeing it does shed light on what your doing - so thanks for that
Its uncanny - your exisitng pendings showing now are very similar in both the pairs traded and the direction traded to all the positions i had planned for this week... i think its going to be a profitable week
  • #82
  • Nov 18, 2018 3:42am Nov 18, 2018 3:42am
If you ask more specific questions, I can try to be helpful in some form but there are a few filtering methods that are grail so I can't go into too much detail.
  • #83
  • Nov 18, 2018 5:21am Nov 18, 2018 5:21am
I wonder if the dates on the trade explorer are correct since I looked at one of the GBP/JPY trades to understand the system:

GBP/JPY Buy 145.004
MTM 144.734
Opening time Nov 15, 2018 4:42pm

holding time 3 days: then closing date is Nov 18 which is a date where the market is closed (Sunday)

Is the TE correct?
  • #84
  • Edited 7:31am Nov 18, 2018 6:57am | Edited 7:31am
Quoting groper
Cool, no worries My reference to a few quick pips was under the notion that i know its friday and we will be closing this position later today - hence a few quick pips. I also have a 200 position limit with my broker so we have to assume we will be doing this on a weekly basis as youve said. What i was referring to is if there are multiple levels showing as possible entry points on the TPO - you might pick the more conservative one if the order was placed on a monday whereas you might pick the more aggressive one (closer to market price)...
Hy... could you share your tpl or your tpo indi setting because i can't have my chart same as your...
Thanks
Best regards
  • #85
  • Edited 7:49am Nov 18, 2018 7:03am | Edited 7:49am
Quoting spotrate
If you ask more specific questions, I can try to be helpful in some form but there are a few filtering methods that are grail so I can't go into too much detail.
Ok - you may not want to answer in too much detail but here goes...

Looking at the pending orders ive noticed the following;
1. All trades have positve swaps - or only very slightly negative, none of the PO have highly negative swaps- i use this to filter my trades also - only trade certain pairs in 1 direction etc
2. ADR - all pending orders on those pairs have just had a reasonable sized corrective move which exceeds 100% of the average daily range - hence the pullback against the main trend was significant and provides a good entry point for a trend continuation setup.
3. the PO are placed as to "stalk" the trend continuation, should it eventuate rather than jump in early if the pullback continues its retraces further and uses the TPO to define support/resistance levels from which to base an entry.
4. All the positions are going against a "big candle" move which occurs against the long term trend and may tie in with point 2.
5. All positions are directed against the previous daily candle close - which may tie in with point 2 and point 4 in a direction opposite to the main trend.
6. All except GJ - RSI has gone above 70 or below 30 during the previous 1440min on 15m chart.
7 GJ is an outlier in the group of PO - its not in a clear trend on the 15M over the last 1440min. If i can figure out why its there it will likely unlock another door which is not obvious - unless you put it there to throw people off?

As we get more PO and i get more time to look at everything, perhaps we can sneak up on some more specific entry criteria

PS - what is the +tpor dotted line of the TPO indi and how should it be used?
  • #86
  • Nov 18, 2018 9:13am Nov 18, 2018 9:13am
If you don't mind, I also have a question about something I don't quite understand. What is the reason for hedging / opening trades in the opposite direction instead of closing open positions when all positions are closed at the same time anyway (on Friday or as soon as 200 trades are reached)? For example, currently there is a pending buy order for GBPJPY at 144.95. Why are you not closing one of the open sell positions at 144.95 instead? Besides saving commision + spread, you'd have 2 trades (of the max. number of 200) less.
  • #87
  • Nov 18, 2018 9:45am Nov 18, 2018 9:45am
Quoting SputnikX
If you don't mind, I also have a question about something I don't quite understand. What is the reason for hedging / opening trades in the opposite direction instead of closing open positions when all positions are closed at the same time anyway (on Friday or as soon as 200 trades are reached)? For example, currently there is a pending buy order for GBPJPY at 144.95. Why are you not closing one of the open sell positions at 144.95 instead? Besides saving commision + spread, you'd have 2 trades (of the max. number of 200) less.
It may not seem intuitive but, there is a difference between closing the trades and taking independent trades that happen to be in the opposite position of an existing trade. This is an unfortunate thing that dukas_trader famously struggles to understand. See this post where I tried to explain.

Something you could try is watching the shape of the floating equity line this week and you'll notice its transformation from the day to day. If a trade were to be closed then the equity line at that point for that trade would be fixed in position. This visual difference already proves there's a difference between a dancing equity line and a fixed equity line resulting from closing a trade and being done with it.
  • #88
  • Nov 18, 2018 9:52am Nov 18, 2018 9:52am
Quoting groper
{quote} Ok - you may not want to answer in too much detail but here goes... Looking at the pending orders ive noticed the following; 1. All trades have positve swaps - or only very slightly negative, none of the PO have highly negative swaps- i use this to filter my trades also - only trade certain pairs in 1 direction etc 2. ADR - all pending orders on those pairs have just had a reasonable sized corrective move which exceeds 100% of the average daily range - hence the pullback against the main trend was significant and provides a good entry point...
Thanks for writing those observations I'll go through the list and tell which are correct, not correct, or somewhat correct about the strategy of the system.
  • #89
  • Nov 18, 2018 10:11am Nov 18, 2018 10:11am
Quoting spotrate
{quote} It may not seem intuitive but, there is a difference between closing the trades and taking independent trades that happen to be in the opposite position of an existing trade. This is an unfortunate thing that dukas_trader famously struggles to understand. See this post where I tried to explain. Something you could try is watching the shape of the floating equity line this week and you'll notice its transformation...
Thank you. Of course, with a hedge - different to stoploss - you would still have the option of exiting both buy and sell in profit. However, it think this option is only advantageous in comparison to stoploss if you are not closing buy and sell orders at the same time but at different price levels. But the latter is not the case if you are closing all (buy and sell) orders at the end of the week or when 200 trades are reached.
  • #90
  • Nov 18, 2018 10:18am Nov 18, 2018 10:18am
Quoting groper
{quote} Ok - you may not want to answer in too much detail but here goes... Looking at the pending orders ive noticed the following; 1. All trades have positve swaps - or only very slightly negative, none of the PO have highly negative swaps- i use this to filter my trades also - only trade certain pairs in 1 direction etc 2. ADR - all pending orders on those pairs have just had a reasonable sized corrective move which exceeds 100% of the average daily range - hence the pullback against the main trend was significant and provides a good entry point...
1. I don't consider any swaps.
2. It's good to know that the trades correspond with using ADR but I don't use ADR.
3. I don't use the TPO in particular but something custom and similar is used so using SR is in part correct.
4. I'm not using a big candle to go against.
5. I'm not using the daily candle or any higher timeframe. I'm just using M15.
6. It's good to know that the trades correspond with using RSI but I don't use RSI.
7. My VPS is rebooting so I don't have access to see the GBPJPY order. When I do, I'll try to explain it.

About the TPO, play with it, you'll notice plenty of uses.
  • #91
  • Nov 18, 2018 10:34am Nov 18, 2018 10:34am
Quoting SputnikX
{quote} Thank you. Of course, with a hedge - different to stoploss - you would still have the option of exiting both buy and sell in profit. However, it think this option is only advantageous in comparison to stoploss if you are not closing buy and sell orders at the same time but at different price levels. But the latter is not the case if you are closing all (buy and sell) orders at the end of the week or when 200 trades are reached.
The unfortunate 200 closing is only because of the broker. If it were possible, the strategy would continue and converge to its potential. There is a specific point in time after a sequence of two events where it would be most locally optimal to close a pair but the 200 limitation along with 34 pairs just doesn't allow it to even get close to that potential maximum. When the trades get closed on this TE, there might be at most around 5 trades per pair which is only at the beginning of only getting started.

Do you know of any broker that allows more than 200? I know Global Prime allows 500 but their limitation is 200:1 and I want to stick with 500:1.
  • #92
  • Nov 18, 2018 10:41am Nov 18, 2018 10:41am
Quoting cescof
{quote} Hy... could you share your tpl or your tpo indi setting because i can't have my chart same as your... Thanks Best regards
You're asking about this template right? If so, maybe groper didn't see your post.
  • #93
  • Nov 18, 2018 10:46am Nov 18, 2018 10:46am
Quoting groper
{quote} 7 GJ is an outlier in the group of PO - its not in a clear trend on the 15M over the last 1440min. If i can figure out why its there it will likely unlock another door which is not obvious - unless you put it there to throw people off? As we get more PO and i get more time to look at everything, perhaps we can sneak up on some more specific entry criteria
IC Markets demo server is down as usual so I can't check on the GBPJPY order for now.

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  • #94
  • Nov 18, 2018 10:56am Nov 18, 2018 10:56am
Quoting spotrate
{quote} Do you know of any broker that allows more than 200? I know Global Prime allows 500 but their limitation is 200:1 and I want to stick with 500:1.
I think Activtrades used to have a limit of 500 trades but I guess they would not help in terms of leverage unless you meet the criteria of opening a professional account.
  • #95
  • Nov 18, 2018 12:54pm Nov 18, 2018 12:54pm
I was asked about the GBPJPY backtesting how to, and my laptop has very weak components so I don't do any optimizing, I mostly use it for bug testing and to be able to go back in time to do visual back testing. Here are the two terminal commands you'll use to combine the spreadsheets containing the tick data.

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  • #96
  • Nov 18, 2018 10:15pm Nov 18, 2018 10:15pm
You could follow the swing either on demo or live, but don't take the orders from both. I'm not sure why the live TE states it's been open for 3 days but it's the 1st live account for this system starting today Monday, since the demo server was unreliable last week because of sporadic connection outage.
  • #97
  • Nov 18, 2018 10:34pm Nov 18, 2018 10:34pm
Quoting JsCave
i just saying based on my experience his system is simple and can do it manually just take trades based even on technical Analise , patterns .. etc ,,,,, on large time frames and you will get the same result ... i tried that already before ... not something genius ..
To others trying to develop a similar system, you might also check with JsCave. He might be a good resource for this system since he says this system is simple because he has tried it before. But I guess maybe he didn't like it very much because I don't see a TE of this system on his profile.
  • #98
  • Nov 18, 2018 11:01pm Nov 18, 2018 11:01pm
The trades within the pair would reach maturity when their respective equity line is mostly sloping upwards but because of the 200 trade limitation, my guess is that 30% of the trades won't reach their potential. It's hard to say because it's not possible to backtest multiple pairs simultaneously.
  • #99
  • Nov 18, 2018 11:52pm Nov 18, 2018 11:52pm
The 1st GBPNZD pending order has come up. It's savage so I wouldn't miss the system of orders for this pair in the coming days. It would be a fun one to practice or demo the system with so I wanted to mention the PO is there.
  • #100
  • Nov 19, 2018 2:19am Nov 19, 2018 2:19am
The TPO and similar SR indicators make it easier to see thoughtful locations. Below is the outcome of the TPO example on this post going from dotted line to dotted line.

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