New Year Stress-free trading system for traders with patience | Page 3 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strat's PASR Long Term, Stress Free Trading 18,592 replies

Pivot and 200 Ema Strategy for Stress Free Trading on all TF's 18 replies

Easy Stress-Free EOD Trading 21 replies

Another way to stress free, mechanic long term trading 29 replies

stress free trading... 17 replies

Attachments: New Year Stress-free trading system for traders with patience
Exit Attachments

New Year Stress-free trading system for traders with patience

  • #41
  • Jan 8, 2021 9:42am Jan 8, 2021 9:42am
Quoting Swnlobo
{quote} So this is just a mean for you to post some indicators along with some cryptic comments.... the objective of simplifying trading for the senior citizens, it turns out by your answer, is arbitrary.
I rarely visit the Trading Systems Forum, now I know why.

Some huge claims here of a "proven", "profitable" system, entry decided on a coin toss ? Incredible.

Would it not be better to direct people to Las Vegas where you might get free drinks & sandwiches and maybe some entertainment ?

Losing your life savings gambling is not stress free.

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-01-08_15h49_24.png Size: 216 KB
It never gets easier, you just get better
  • #42
  • Jan 8, 2021 10:31am Jan 8, 2021 10:31am
Quoting Shabs19
{quote} I rarely visit the Trading Systems Forum, now I know why. Some huge claims here of a "proven", "profitable" system, entry decided on a coin toss ? Incredible. Would it not be better to direct people to Las Vegas where you might get free drinks & sandwiches and maybe some entertainment ? Losing your life savings gambling is not stress free. {image}

....and let me correct myself: You didn't even posted the indicators. Sad...

What is worse is that this kind of attitude is protected by the narrative of "I'm not going to spoon feed you, you have to work to earn" the understanding of my (super duper cryptic that gives me above worldly powers) system.
  • #43
  • Edited Jan 10, 2021 3:47am Jan 9, 2021 7:31am | Edited Jan 10, 2021 3:47am
SCALP Trading good for elderlies

Those interested in catching random moves of candle formation will do well by having 5 such trades in a day using EA that exits trades by TF without using any Stop Loss in terms of Pips.

This does not require developing a directional bias but needs keen observation and using demos to get confidence.

Select a four hour period when you think you will get a lot of opportunities. Trial-and-error methods have to be adopted to conduct demo trades to establish
four hour period has 48 M5 candles . Target to master only 10 entries or 20% of trades targeting 7 wins and 3 loss.

Enter and exit to catch such moves in a day. Use any symbol you like. Choose size of Stop Loss exit by TF or 10 pips or 20 pips or 30 pips by establishing probability of not getting SL hit by trial-and-error or get access to any information indicator that can provide statistics on such patterns.

Talking of probability study, for instance you can try to practise capturing 10 or 20 pips in the first 15 minutes of the start of the trading for the day or/and likewise at the end of trading.
Attached Image (click to enlarge)
Click to Enlarge Name: Up and down moves try to catch.png Size: 67 KB
Practice makes a person perfect
  • #44
  • Jan 10, 2021 3:42am Jan 10, 2021 3:42am
Quoting northwind
Hi simnz, Have you considered trading with Renko bricks? Based on price movement instead of time. {image} All the best, NW
Hi Northwind,

Some of the elderly people find it difficult in using Pip Channel which is a form of Renko bricks.
For them, Renko Bricks with a facility to have a median line will be good.
I would be thankful if you can provide the links for the Renko bricks indicator.
Thank you.
Practice makes a person perfect
  • #45
  • Jan 11, 2021 11:30pm Jan 11, 2021 11:30pm
Quoting simnz
REQUEST TO CODERS FOR A SIMPLE EA THAT CAN BE USED BY ELDERLIES I trade only after doing a probability study for direction bias, volatility, maximum time exposure to drawdown, active hours, realistic TP and SL by using timelines (I never use Stop Loss because I only trade for maximum of 15 m TF ). Until I have not collected statistics, I don't set up any system. The scalping idea is explained here. The possibility of returns also explained. This thread will not attract traders other than elderlies because majority of FF traders are looking for effortless...
Hey Simnz,

I can have crack at getting some stats in excel. Give me 3 instruments and timeframes that you want me to try.

Cheers
Garfield.
Trading is SIMPLE not EASY.
  • #46
  • Jan 12, 2021 1:11am Jan 12, 2021 1:11am
Quoting simnz
Why I chose wall street 30 symbol: ws 30 as a CFD candidate.for trading on MT4? Goal: 60% gain probability in a month 15% max drawdown if liquidated by timeline and not by SL Strictly use Time metrics to plot exit with or without gain. Use single symbol for specialisation Criteria; High volume High price volatility in pips/points/$ticks terms (twice of GBPJPY the fx instrument I am quite familiar with) Total trading costs including ask-bid spreads and commission not more than 2% of ADR Intra-day active trading with no more than 4 hours of screen...
If this is a social project for elderies as you say, I think you can do more and spend less effort to ask on FF, just my honest suggestions

1. you have 36+ years of financial career, why dont you just teach them your system(s), pick the simplest one just to give them something to start with
2. Some elderies are of programming background. My dad retired at 60 2 years ago and he is amongst the big group of IT uni graduates back in the IT boom. These people have the skills and likely the willingness to do some simple coding, just like my dad with HSI.
3. If those old people were traders, I dont think you need to give them any system, just a platform and acc and they can work on their own to kill time. If they were not into trading, better let them do what the like
4. Let them trade demo and kill the time. If this is a social project, no need to put on pressure to chase 60% win rate, 2% daily growth, 15%DD limit. It is just for fun, right?
5. The old people can be the best group you can ask for backtesting and gather statistics. They have all the time for this project, right?

If you still need a strategy, I can give a direction for the participants to investigate and maybe able to find out my strategy on Live.
On one currency (multiple pairs), due to market open time (note: 2 markets time zones needed to consider, they need to be fully changed to winter/summer), if the previous 2 1H candles are of opposite directions with 2nd candle moves more than 1.5x ATR, the third 1H candle has average of 68% of closing in the direction of the first. TP and SL can be curve fitted if no additional MM. It is overall profitable by just open and then close after 1hr in the past 5 years (deduce days when the two market hours misaligned).

it can be done every day for less than 4 hours. No indicators needed just statistics. I trade ~0.5 risk with defined TPSL, monthly growth is 0~2% but drawdown is also small 1-4%. If you scale up u may able to grow more within 15% DD.

Good luck with your folks
  • #47
  • Jan 12, 2021 3:43am Jan 12, 2021 3:43am
Quoting garfield75
{quote} Hey Simnz, I can have crack at getting some stats in excel. Give me 3 instruments and timeframes that you want me to try. Cheers Garfield.
Thank you.
TF M5
index WS30 and NDX
Fx: GbpJpy
Practice makes a person perfect
  • #48
  • Edited 10:24am Jan 12, 2021 4:50am | Edited 10:24am
HAVE FUN -TREAT TRADING AS AN INDIVIDUAL SPORTS -WILL TRAVEL



Quoting tommydoginti
{quote} If this is a social project for elders as you say, I think you can do more and spend less effort to ask on FF, just my honest suggestions 1. you have 36+ years of financial career, why don't you just teach them your system(s), pick the simplest one just to give them something to start with 2. Some elderies are of programming background. My dad retired at 60 2 years ago and he is amongst the big group of IT uni graduates back in the IT boom. These people have the skills and likely the willingness to do some simple coding, just like my dad...
I have no intention of becoming a guru and holding hands. I promised to provide a basic framework and basic tools on how to go about it.
That I have already done making a few people angry for depriving them of indicator parades and sermons. In fact, I provided clues for FF indicators but except one reader, nobody else made any effort to find those indicators.

My conclusion is that serious traders have understood what I wanted to say. People who are used to hand-holding are not interested.

My job is done for all purposes. It is clearly mentioned in my posts.

Others are welcome to share their simple system as long as it does not involve any signal generating indicators or complex risk managing ideas and focus purely on discretionary style of trading where the traders HAVE TO use their own brains AND not copy other people signals.

I have given a model based on index trading based entirely on my experience and specifically telling the readers to just follow the methodology of assessing symbols to trade, use the given simple information indicator of taking a look at last 8 to 10 closed candles to form own view on the direction, use an EA that liquidates the trades by close of TF as a risk manager and to stay in the market for short period so as not to go through psychological pain and get hurt.

I have reminded my readers not to get entangled in risk reward if the idea is to derive pleasure out of demo or cents trading.

For my own real trading, I strongly believe, risk reward can't be applied for speculative activities involving unseen hands conducting auctions in the market. When you have no idea of when the spikes will happen, have no role to influence auctions, what is the point of having risk reward plans? Just explore every price move and extract as much juice as you feel you can using your own ideas.

Another area that will help them exercise their brains is to conduct probabilities studies if they have Excel skills.
For Excel literates I have provided a basic Excel dataset. I will guide the people who show keenness in conducting probability studies. I, myself, is zero in Excel but because of sheer extensive experience I am in a position to tell them what they should be doing it.

Your dad is welcome to contact me (I live in Hong Kong) if he has Excel skills. I don't have Excel knowledge but I can work with him and give ideas of probability study for HK index futures as well as for daytrading of HSI options.

It is fun and quite rewarding applying the patterns identified from probability study to demo or real trading.

I specifically asked the readers of this thread to exercise their brain by doing demo trading as long as they have interest in trading as a game.

A poll is being conducted to get some feedback as well.

This thread is not necessarily for making money. Those with interest in making money will of course derive pleasure out of getting rewards.
Practice makes a person perfect
  • #49
  • Jan 12, 2021 6:53am Jan 12, 2021 6:53am
Quoting simnz
HAVE FUN, TREAT TRADING AS AN INDIVIDUAL SPORTS, WILL TRAVEL {quote} I have no intention of becoming a guru and holding hands. I promised to provide a basic framework and basic tools on how to go about it. That I have already done making a few people angry for depriving them of indicator parades and sermons. In fact, I provided clues for FF indicators but except one reader, nobody else made any effort to find those indicators. My conclusion is that serious traders have understood what I wanted to say. People who are used to hand-holding are not...
I still think the best resources you can muster is the participants. They can spend time on statistics and finding a good strategy.

Serious traders are very unlikely share their strategies nor helping. I dunno if I am serious or not, but I rather not disclose my strategies. Also I find it hard to spare more time to trading apart from my daily life and job, executing my own trades and developing further the strategies... So asking people to share their winning system that has your desired requirements is less efficient than developing one with help of the people in the project.

Of course pure experience sharing takes much less time and more enjoyable
good luck!
  • #50
  • Edited 7:22am Jan 12, 2021 7:10am | Edited 7:22am
Quoting tommydoginti
{quote} I still think the best resources you can muster is the participants. They can spend time on statistics and finding a good strategy. Serious traders are very unlikely share their strategies nor helping. I dunno if I am serious or not, but I rather not disclose my strategies. Also I find it hard to spare more time to trading apart from my daily life and job, executing my own trades and developing further the strategies... So asking people to share their winning system that has your desired requirements is less efficient than developing one...
Thank you for the suggestion.
My agenda is completed . This thread is for highly motivated individuals who are interested in playing an individual sports with no team mates mostly to keep their brains active.
Practice makes a person perfect
  • #51
  • Jan 13, 2021 6:37pm Jan 13, 2021 6:37pm
Quoting simnz
{quote} Thank you. TF M5 index WS30 and NDX Fx: GbpJpy
Had a look at GBPJPY 250 candles for time frame of 5 Min, 15 Min, 30 Min & 60 Min. Without having a clear hypothesis, it is not possible to do deep analysis on the probability of profit or loss.
Attached excel has all the data.
Attached Image
Attached File(s)
File Type: xls History GJ.xls   78 KB | 369 downloads
Trading is SIMPLE not EASY.
  • #52
  • Jan 14, 2021 4:50am Jan 14, 2021 4:50am
Quoting garfield75
{quote} Had a look at GBPJPY 250 candles for time frame of 5 Min, 15 Min, 30 Min & 60 Min. Without having a clear hypothesis, it is not possible to do deep analysis on the probability of profit or loss. Attached excel has all the data. {image} {file}
Thank you .
It is a good job done.
Practice makes a person perfect
  • #53
  • Edited 6:13am Jan 14, 2021 5:50am | Edited 6:13am
Quoting garfield75
{quote} Had a look at GBPJPY 250 candles for time frame of 5 Min, 15 Min, 30 Min & 60 Min. Without having a clear hypothesis, it is not possible to do deep analysis on the probability of profit or loss. Attached excel has all the data. {image} {file}
This study will help traders trade with realistic profit goals.
Stop loss can be either Maximum Pips or any of Timeframe.
I have already provided the EA that can be used to exit by selecting Timeframe.
Minimum Pip will prepare your mind to accept that there could be a lot of dull moments. So timing is very important to avoid Minimum Pips movement.
Average Pips will act as TP for scalp trades.

Garfield, Can you please count the occurences of Average Pips, Max Pips and Min Pips based on times when different stock markets open and follow the mother of all stock indexes DJI.

In all, seven markets, other than US, will get active participants for WS30.

All times are in GMT.

https://www.forexfactory.com/thread/...9#post13351469
Attached Image (click to enlarge)
Click to Enlarge Name: Trading hours for CJA.jpg Size: 109 KB


WS30 (Dow Jones 30) influences all indexes trading. More or less GDAX has 95% correlation. No index can match the liquidity of WS30 nor the volatility. So it is better to milk WS30 for pips.

Only eyeballs can help direct the trades properly. Execution of trades must be by selection of Pending Orders. Never select market orders.

Your frequency count will help determine active trading hours.
Practice makes a person perfect
  • #54
  • Jan 14, 2021 5:56am Jan 14, 2021 5:56am
Let the elders have some fun, they do not have anything to lose anyways
  • #55
  • Jan 14, 2021 6:45am Jan 14, 2021 6:45am
Quoting garfield75
{quote} Had a look at GBPJPY 250 candles for time frame of 5 Min, 15 Min, 30 Min & 60 Min. Without having a clear hypothesis, it is not possible to do deep analysis on the probability of profit or loss. Attached excel has all the data. {image} {file}
May be this is a good model to draw for own understanding.
Will you be having fields in Excel?
Picture courtsey FF member redfan
Attached Image
Practice makes a person perfect
  • #56
  • Jan 14, 2021 7:57am Jan 14, 2021 7:57am
Quoting northwind
Hi simnz, Have you considered trading with Renko bricks? Based on price movement instead of time. {image} All the best, NW
Hi, i'm a renko trader too(quite newt tbh). I'm currently using cTrader's renko chart but i find your chart has a better look imo. May i ask what is the name of the renko indicator that you use?
  • #57
  • Jan 15, 2021 4:36pm Jan 15, 2021 4:36pm
Quoting simnz
{quote} This study will help traders trade with realistic profit goals. Stop loss can be either Maximum Pips or any of Timeframe. I have already provided the EA that can be used to exit by selecting Timeframe. Minimum Pip will prepare your mind to accept that there could be a lot of dull moments. So timing is very important to avoid Minimum Pips movement. Average Pips will act as TP for scalp trades. Garfield, Can you please count the occurences of Average Pips, Max Pips and Min Pips based on times when different stock markets open and follow the...
Hey Simnz,

Will have a look at WS30 this weekend to come up with price movement matrix. If you want it aligned to market price over 24 hours period, then the lowest TF for analysis would be 1 Hr. Gut feel London & New york overlap known as "NyLon" likely to be most active.

Cheers
Garfield
Trading is SIMPLE not EASY.
  • #58
  • Jan 15, 2021 9:37pm Jan 15, 2021 9:37pm
Quoting simnz
{quote} This study will help traders trade with realistic profit goals. Stop loss can be either Maximum Pips or any of Timeframe. I have already provided the EA that can be used to exit by selecting Timeframe. Minimum Pip will prepare your mind to accept that there could be a lot of dull moments. So timing is very important to avoid Minimum Pips movement. Average Pips will act as TP for scalp trades. Garfield, Can you please count the occurences of Average Pips, Max Pips and Min Pips based on times when different stock markets open and follow the...
Based on Excel RTD limitation, I could only extract around 500 bars for 1 Hr TF to for analysis. Data is from 11th Dec 2020 to 14th Jan 2021 for US30.
I have broken it down by 24 hours based on GMT and different session times.
Attached Image (click to enlarge)
Click to Enlarge Name: ac17b0c7675d299a28cb1508dda7f24f.png Size: 176 KB
Attached File(s)
File Type: xlsx History US30.xlsx   51 KB | 375 downloads
Trading is SIMPLE not EASY.
  • #59
  • Jan 16, 2021 2:29am Jan 16, 2021 2:29am
Quoting garfield75
{quote} Based on Excel RTD limitation, I could only extract around 500 bars for 1 Hr TF to for analysis. Data is from 11th Dec 2020 to 14th Jan 2021 for US30. I have broken it down by 24 hours based on GMT and different session times. {image} {file}
Attached Image
Practice makes a person perfect
  • #60
  • Edited 4:14am Jan 16, 2021 2:35am | Edited 4:14am
Quoting garfield75
{quote} Based on Excel RTD limitation, I could only extract around 500 bars for 1 Hr TF to for analysis. Data is from 11th Dec 2020 to 14th Jan 2021 for US30. I have broken it down by 24 hours based on GMT and different session times. {image} {file}
I am curious to understand why you use Excel RTD and not a script to generate cvc datafile in MT4?
Script I am told does not have this limitation.
CVC file can be saved as Excel and you can work with your formulas or indicators.
Are there any indicators in Excel that can simulate as ADR or ATR?
Practice makes a person perfect
0 traders viewing now