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Exceptional day, will it continue ?

  • #21
  • Jul 10, 2009 6:55am Jul 10, 2009 6:55am
It seems the changes made to the take profit points has worked. I see the Eur/Jpy trades just hit their TP3 levels. That would add about another 150 odd pips tot he tally. Gbp/Jpy is past all the levels and currently in no-mans land. Looks like I will have to add additional TP point...

Nice weekend to all.
  • #22
  • Jul 10, 2009 7:30am Jul 10, 2009 7:30am
Just closed out the last Gu trades, they also made it to TP3.

For today the total was 1,723 pips and yesterday 957 = 2,680 for the last +- 28 hours. Now that is some serious pips
  • #23
  • Jul 10, 2009 8:16am Jul 10, 2009 8:16am
Hi Mike, how did it perform on gbpusd on 8th July? Any chance you could explain the set up it scans for on each time frame?
Thanks
  • #24
  • Jul 10, 2009 8:32am Jul 10, 2009 8:32am
Porkpie,

I only started recording each trade from 9 jul so i cannot comment on it. I have however attached a screenshot of the 8th on the 15 min chart for you.

I'm with FXCM on Metatrader and the time on the charts are for UK i.e. GMT +1. Hope this helps. From the look of it it looks like 2 trades did not work out at all while some other did not go all the way to the TP. They would however have moved enough to get a BE stop in, that would however depend on your style of trading.

The others all got to a TP point. The lines you see on the chart (horizontal) are the TP points. When a trade is called the indi takes the three closest lines for the three TP points.
Attached Image (click to enlarge)
Click to Enlarge Name: gu8-jul.jpg Size: 70 KB
  • #25
  • Jul 10, 2009 8:47am Jul 10, 2009 8:47am
ok, I am trying to guess what the set-up is judging by what you said in the first post about price action based trading (no indicators - which is the only way to trade IMHO). I would have said Pivot levels given the lines on the chart or possibly SR levels but judging by the arrows there seems to be some lag so it can't be that

I am sure you will reveal all soon.
  • #26
  • Jul 10, 2009 12:25pm Jul 10, 2009 12:25pm
Wow, definitely interested in checking this indi out
  • #27
  • Jul 10, 2009 1:25pm Jul 10, 2009 1:25pm
Quoting Porkpie
ok, I am trying to guess what the set-up is judging by what you said in the first post about price action based trading (no indicators - which is the only way to trade IMHO)....
I'm with you on that one. Give me any naked, and I mean naked chart on any time frame and I will trade it for you, no problems. Been doing it now for so long it is almost second nature. Look for a couple of basic things and then of course how the candles are formed (not formations but the actual candle being formed) and that is it.

Problem is the screen time, that's the reason for the indi. One very interesting thing I have seen over last two days. My PA trading almost beats the indi trading, and that is with about a quarter of the trades, so yes, indicator free trading rules....says the guy busy writing one...

Let's not go there. I believe that they have their place, it is however all in how they are used. Lets leave it at that.
  • #28
  • Jul 10, 2009 1:26pm Jul 10, 2009 1:26pm
checking in here!

looks really impressive...

when can we expect a "beta" of the indi? or will not it be released?
Per aspera ad astra!
  • #29
  • Jul 10, 2009 1:43pm Jul 10, 2009 1:43pm
Quoting laphoenix
...when can we expect a "beta" of the indi? or will not it be released?
This indi has been coming for months. When you develop something you start with a single idea and file. Then as time goes by you add on, steal a bit from that file and this one, add some from that one, link to the other one etc...

The end result is a total coders nightmare. Code all over the place. I have started to collect and 'box' the code together but there is still quite a bit to do. Currently the indi runs from several files, not all of them in Metatrader. So some conversions will be required into dll's or similar. It hoggs resources like crazy (my MT uses close to 3GB memory while running now) so I need to restructure everything and package it into a workable solution which can run as a standalone on MT.

My best estimate about three to four days. As said, I jumped the gun a bit on my posting so sorry for this, I will however get it out asap as I need others to test it, that is the only way to get a robust and solid indi done.
  • #30
  • Jul 11, 2009 6:29am Jul 11, 2009 6:29am
Quoting mike_85
...I will however get it out asap as I need others to test it.
Hi mike!

don't worry we will test it to fault... just count on us for that

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #31
  • Jul 11, 2009 6:41am Jul 11, 2009 6:41am
I have had many pm's about naked trading i.e. trading on clean charts. I believe that this is the ultimate in trading in that this is when you are 'one' with the chart in that you can see events unfolding and react to them in such a manner that it turns a profit for you.

I will not go on about it here, think best to start a complete new thread on it a bit later. I can however say that the system I use is nothing new. The 'good' basic trading principles have been around for years, they just change name every now and then as each trader makes it his/her own. Same with me, my system came from months and hundreds of hours of screen time and is so simple I think a 5 year old can do it. I call it the hammers and the walls.

There are quite a few threads on this very forum where variations of the basics are applied to great effect. Enough said, let me get back to coding. Attached is a chart of the gbp/usd 15 minute with trades marked which I would have taken if trading naked (yeah I know, easy to mark a chart up after the fact but anybody is welcome to take me on during live trading for the same type of trades).

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: gu15.jpg Size: 110 KB
  • #32
  • Jul 11, 2009 8:01am Jul 11, 2009 8:01am
Quoting mike_85
I'm with you on that one. Give me any naked, and I mean naked chart on any time frame and I will trade it for you, no problems. Been doing it now for so long it is almost second nature. Look for a couple of basic things and then of course how the candles are formed (not formations but the actual candle being formed) and that is it.

Problem is the screen time, that's the reason for the indi. One very interesting thing I have seen over last two days. My PA trading almost beats the indi trading, and that is with about a quarter of the trades, so...
Yep I am with you on this. There is no other way. Indicators lag and with lag means greater risk and lower probability trade setups. An indicator to scan charts for a set-up that is based on non lagging techiniques -nothing wrong with that.
  • #33
  • Jul 11, 2009 11:52am Jul 11, 2009 11:52am
Great thread guys. I searched that " hammers & walls " found nothing.
Could somebody help me with that? regards , Dan
  • #34
  • Jul 11, 2009 12:36pm Jul 11, 2009 12:36pm
Quoting todor113
Great thread guys. I searched that " hammers & walls " found nothing.

Could somebody help me with that? regards , Dan
search for candlesticks, support and resistance and mtf fractals... these should give you an insight.
  • #35
  • Jul 11, 2009 1:08pm Jul 11, 2009 1:08pm
Quoting todor113
Great thread guys. I searched that " hammers & walls " found nothing.
Could somebody help me with that? regards , Dan
Dan,

 That is just what I call it. I will compile a document as soon as I have time to do so, too many things and too little time as is always the case.

Lymstylz is correct, many traders refer to it as support and resistance (S&R), the walls, and there is a whole bunch of stuff on it right here on FF. A very good start will be James16's thread. I have read some of the info provided there, whish I had more time to go through the whole thread though.



Our styles are not quite the same though I believe the basics to be a lot similar from what I have seen. As mentioned, the basics are just that, the basics. They just keep on working no matter what the market conditions and or time frame.
  • #36
  • Jul 11, 2009 1:38pm Jul 11, 2009 1:38pm
Once again, well done mike_85 for this outstanding feat! I am anxiously waiting for when I will be partaker of the benefits of your work.
  • #37
  • Jul 11, 2009 2:12pm Jul 11, 2009 2:12pm
Quoting mike_85
I call it the hammers and the walls.
Hi Mike!

I can't wait to get hold of this HAMMER
some pips need crushing.

Is this hammer a sledge or a club hammer?

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #38
  • Edited 3:06am Jul 12, 2009 2:11am | Edited 3:06am
Quoting mike_85
Dan,

That is just what I call it. I will compile a document as soon as I have time to do so, too many things and too little time as is always the case.

Lymstylz is correct, many traders refer to it as support and resistance (S&R), the walls, and there is a whole bunch of stuff on it right here on FF. A very good start will be James16's thread. I have read some of the info provided there, whish I had more time to go through the whole thread though. ...
Hi Dan,
Go to BRV's No Brainer Trades... thread on FF (also look for posts by Ironman), BRV has a very good blog site also with videos and also Clockwork's silent service method (also has a blog site with video and audio content). This is essential stuff the best of the best on FF. These are larger time frame strategies but you can adapt the same concepts on lower time frames (but you have to adapt as there are different nuances). I think Mike's method will help you with that. But don't forget Money Management and emotional management (trader psychology).
  • #39
  • Jul 12, 2009 6:36am Jul 12, 2009 6:36am
Thank you all for your leads, I'll start reading them. Dan
  • #40
  • Edited 4:42am Jul 13, 2009 3:50am | Edited 4:42am
Hi all,

Been coding my fingers to the bone this weekend but making very good progress. I have started the whole thing from scratch as I was worried that we might run into errors later on. Better to rebuild from the ground up to make sure that it is stable and that it can deliver when it matters.

I have completed the framework (1,100 lines of code) for the rest of the code to 'plug' in. It is now just a matter of taking each section, dusting it off and streamline it a bit and plug it in. I hope to be finish by latest Wednesday but am not sure as I have already ran into a couple of big snags.

Updating of stats: I will only be updating the stats again tomorrow. I can however say I'm currently up just under 200 pips since market open on my live account and that on one pair only.

To those receiving signals be carefull today, I'm all over the code so anything could happen.

Good trading to all.

Edit: Closed last sell on GJ. Up 273 pips on the two trades. Looks like today would have been another 'EXCEPTIONAL day' if one traded all the majors.
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