Part Time Wealth Building Trading System

Quoting AL4715

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Lou G,

We appreciate all your work you have done in creating many indicators for people to use. And, we can clearly see that tkimble's system works very well by just visually observing the setups.

Would you once again share your EA with those of us who aren't able to program yet but desire to test/run the system?

Thanks in advance.

AndyL

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Quoting Lou G

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I may share the EA at some point in the future. I hesitate only because it is at this point very rudimentary and suitable only for my own backtesting. I'm constantly tweaking things and would never put something "into production" (as it were) without thorough testing. Every programmer knows that's a recipe for midnight phone calls...

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Quoting drayco

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TK, thanks for your work. Did you experiment a lot with different period MA's before settling on 50? I see that price action followers many times use the high or low of past two bars as stops, as well as 3 bars, etc. I am curious as to how you arrived at 50. Thanks again.

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Quoting Lou G

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Tkimble, I'm really enjoying trading this method. Can you tell me if you recommend letting trades continue over the weekend? I'm thinking of closing out on Friday (especially this week with the holiday coming) but was wondering what works best in normal times. Backtesting could probably answer this question but, like you, I'm not really all that big on it other than to establish basic functionality.

Regards,
Lou G

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Quoting tkimble

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Thanks to all for your contributions. It has really helped my thinking and I have begun to explore other trading strategies. I have developed a day trading strategy that I think you will all like. Will post starting a new thread shortly...

Happy Trading,

Tkimble

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Quoting tkimble

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Thanks to all for your contributions. It has really helped my thinking and I have begun to explore other trading strategies. I have developed a day trading strategy that I think you will all like. Will post starting a new thread shortly...

Happy Trading,

Tkimble

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Quoting Lou G

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I was able to write a simple EA in less than 30 minutes the use of which fully supported all your claims re: winning trade % and profitability.

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Quoting moonchild

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Snowy day and looking for excuses not to shovel.

I am finding this thread interesting because it is about a nice trend following system. I have a really good system which works well in ranging conditions and I have just been trying to devise ways to keep me out when the market is trending.

My system is truly useless in trending conditions. I think that this system is just as useless in ranging conditions. It would make them perfect complements.

I wonder whether there is a way of coding which uses my system when the market is ranging and switches over to this system when it is trending. I will have to think about that.

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Quoting Lou G

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I look forward to your new thread. I'm mystified by the fact that this thread did not attract a larger group - it's perhaps the best I've ever found. Your approach is extermely simple yet obviously well thought out and tested (since none who have tried have found a way to improve on it ). I was able to write a simple EA in less than 30 minutes the use of which fully supported all your claims re: winning trade % and profitability. Thank you yet again.

Lou

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Quoting VinceTheBeast

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Hi Tkimble,

First of all thanks for sharing your method! Having a go at it as we speak. I have a question about the RSI please...

I noticed that, during the formation of a bar (so during a 30 min period) the RSI can go above, below, above and below the 50 again. Would this indicate the market hasn't made its mind up yet were it wants to go? Would you wait for the close of this bar to make a decision to exit and/or enter/re-enter a trade or go for it *every* time?

Secondly, do you know of the existence of an RSI indicator that gives an audio/visual warning when it crosses <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:metricconverter ProductID="50 in" w:st="on">50 in</st1:metricconverter> either direction? Having a go at multiple currencies and can get a bit tricky to follow all pairs at times.

Again, many thanks for your efforts!

Vince

PS: just had a short on cable @ 1.9689/10:08 GMT :-)

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Quoting AL4715

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Here is RSI indicator that gives visual/audio signals. It is very nice visually because the color of RSI line changes to either green/red dependent on what the number is.
Enjoy.

AndyL

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Quoting AL4715

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Here is RSI indicator that gives visual/audio signals. It is very nice visually because the color of RSI line changes to either green/red dependent on what the number is.
Enjoy.

AndyL

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Quoting tpn77

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Thanks Andy - how can I change the RSI to 45 instead of 21? Great work....

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Quoting VinceTheBeast

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Hi Tkimble,

First of all thanks for sharing your method! Having a go at it as we speak. I have a question about the RSI please...

I noticed that, during the formation of a bar (so during a 30 min period) the RSI can go above, below, above and below the 50 again. Would this indicate the market hasn't made its mind up yet were it wants to go? Would you wait for the close of this bar to make a decision to exit and/or enter/re-enter a trade or go for it *every* time?

Secondly, do you know of the existence of an RSI indicator that gives an audio/visual warning when it crosses <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:metricconverter ProductID="50 in" w:st="on">50 in</st1:metricconverter> either direction? Having a go at multiple currencies and can get a bit tricky to follow all pairs at times.

Again, many thanks for your efforts!

Vince

PS: just had a short on cable @ 1.9689/10:08 GMT :-)

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