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Ok, Lets do it - Developing a Highly Profitable System

  • #121
  • Dec 12, 2010 11:23am Dec 12, 2010 11:23am
Quoting newyear498
During all phases we will make decisions by voting polls that I will provide links to... the majority vote wins. (let it be noted that the selection of answers on these polls will do its best to reflect all the solutions provided by our thread)
Than what about thinking outside the box???

Hmmm u maybe are making a system privately that goes against the majority.
.
  • #122
  • Dec 12, 2010 2:32pm Dec 12, 2010 2:32pm
Quoting newyear498
Ok, sound like you guys are right having a pair might be counter productive.. I had some doubts initially as originally mentioned and you guys definitely addressed my doubts



@yaed, If you would like to elaborate a bit more I would be happy to hear not only your method but the logic behind why it works

so far you have kinda just hinted around

Thanks

and everyone keep the ideas coming.. I assure you we are not wasting our time here.. its a little elementary in some aspects but we need to start small otherwise everyone would be throwing...
It seems i missed this. But here is my reply. He wanted to know something and i answered. I am not sure i want to elaborate for these reasons: This thread is about developing a new system right? Therefore mine isnt interesting, its already in existence. Besides, there is little i am prepared to change about the way i trade. I have developed my method through hard experience and the method especially regarding take profits is quite intangible. What i did was offer specific advice on a specific topic: An example of where to begin developing some kind of entry signal. Anyway, good luck.
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  • #123
  • Edited 2:59pm Dec 12, 2010 2:48pm | Edited 2:59pm
Quoting newyear498
I think some traders don't want to talk about what they know because it took them so long to figure out what they know.. so they feel empowered knowing more than a new trader and don't want to give up that power.. there on power rages literally.. they enjoy feeling they know something a new person doesnt.
That touches on my sentiments regarding this. I tried in the spring and summer to find people to work with and collaborate with. I didnt find anybody on this hwole forum, so i developed my method on my own. And the way i see it is very simple: Since nobody wanted to work with me, why would i share of those things i have learned? Especially since this is a public forum, JP Morgan and the other big banks and people like that have data foraging scripts hwo comb through this forum the instant anybody posts anything that has technical terms in it. Most of the stuff people post is just incoherent nonsense of course, people bantering and being mean to eachother, but if there ever is anything worth knowing, they will know it. Thats why ill never post anything specific worth knowing on a forum like this. I think you people should be aware of it, if you arent already.

If ever this thread or any like it produced anything worthwhile, big banks and people like that will know exactly what you know + they are able to analyze it with sophisticated software and great experience. So think you should know and consider the consequences of your actions. What would you do if you had near infinte money and you saw people taking beginning to take a big chunk out of your money? Think about where you trading money actually is, in what bank? Well regardless of which one, they will know exactly when you open and when you close a trade, and how big your lot size is.

So what is important to note here is this: I wanted collaboration and an open mindedness to begin collaboration. And after that would have been established, some general idea of how to trade, then perhaps sensetive information should have been omitted from public forums. It didnt work out that way, i found that people arent willing to work hard and crunch that data, people just want to look at theyre screen once in a while, place an order and go have a beer or something. I didnt enter into this with that in mind, i think thats an aloof and very naive attitude. Its very evident to me that you really would need to know something incredible to be able to do that. I entered into it with that in mind that its probably going to be very hard if its even possible to be profitable. So thats my two cents.
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  • #124
  • Dec 12, 2010 4:44pm Dec 12, 2010 4:44pm
Quoting Adal
You seem to know more than all of us combined. Everything is obvious to you - chaos theory, what smart money is doing. Everything works - indicators, price action, pivot points, there are no secrets.
-
Quoting newyear498
I personally believe that there is a lot of things I don't know about the market..
  • #125
  • Dec 12, 2010 4:45pm Dec 12, 2010 4:45pm
Quoting yaed
That touches on my sentiments regarding this. I tried in the spring and summer to find people to work with and collaborate with. I didnt find anybody on this hwole forum, so i developed my method on my own. And the way i see it is very simple: Since nobody wanted to work with me, why would i share of those things i have learned? Especially since this is a public forum, JP Morgan and the other big banks and people like that have data foraging scripts hwo comb through this forum the instant anybody posts anything that has technical terms in it. Most...
Yaed, Thank you for your contributions. It's interesting that you tried this type of method of building a system before.. I also thought I would gain some great insights in a group effort.. but as stated I am now leaning on the fact that I do not want to develop a system as a group..

the main reason I am having second thoughts is because others do not want to share any insights so I feel now there is no point in me creating anything that will help them.. so while they are not sharing because of there greed and fears of being exploited I am considering not to not share.. but to only share with those who would are not greedy and I prefer the half glass full type.

I do appreciate many who were supportive during this attempt but I also feel those who support me shouldn't work towards supporting the majority who have little to nothing they wish to offer...

So yup.. I am considering failing this thread now.. sorry guys and it appears that some of you were right that this idea will never work.. but the reason it will never work is because of the same people who voted it will never work

I suppose putting together a smaller and more supportive group away from the nay sayers and such could be extremely productive and while I have some thoughts to attempt this.. I suppose I could also just settle for my current returns and improve on my methods privately although in all belief with the right people I would expect greater results

Ha.. so now were do we go from here.. should I admit defeat or continue on my ways.. like I said I do not wish to offer much to the nay sayers nor the ones who wish to either offer none of there knowledge.. but I also would not want to give up on those who do have much they willingly offer

A rather interesting fact is that most of these nay sayers and those who wish to keep to them selfs.. most likely have some teacher/trader or book writer they look up to for everything they learn..

so what I am saying is, they look up to those who share knowledge but by not sharing the knowledge they know.. they are not on the same level of those who they look up to...
  • #126
  • Dec 12, 2010 4:48pm Dec 12, 2010 4:48pm
Quoting PiptheRipper
Coming back to questions you asked earlier NY about Trends and ranges. You are right, it is said that price only trends 25% of the time. That is just one more bogus stat we should ignore. It depends how you perceive it. It might be ranging on the daily TF for the last month, but it was trending up and down on the smaller TF's while in this bigger range.

I said it before, but in my opinion, we can trade both trending and ranging markets. I will trade a range if the range is larger than about 300-400 pips, anything smaller and the risk becomes...
The whole thing about MTF had always bothered me.. its been my personal believe that the markets can't be measured in time since they are not the same dimension as the world we live in.. but yet I have never traded with renko charts haha.. but renko would support my beliefs so much more

I agree.. maybe the stats are off and certifiably when you factor in MTF

Thanks!
  • #127
  • Dec 13, 2010 1:48am Dec 13, 2010 1:48am
Quoting Adal
You seem to know more than all of us combined. Everything is obvious to you - chaos theory, what smart money is doing. Everything works - indicators, price action, pivot points, there are no secrets.

Good luck in your endeavor, I won't bother you anymore since now you're just trolling.
Indeed, and I'm out of here as well for the same reason.

I will however continue to have a look every now and then since I, as a trader, always find it slightly educational to observe human ego at work.
  • #128
  • Dec 14, 2010 9:44am Dec 14, 2010 9:44am
Quoting Marv
Indeed, and I'm out of here as well for the same reason.

I will however continue to have a look every now and then since I, as a trader, always find it slightly educational to observe human ego at work.
Agreed about the ego at work.. this threads whole purpose is to work together and its a shame when those who feel they are more experienced need to chime in with nothing progressive and only attempts to claim superiority over others.. I am very glad they could not establish there egos here and decided to leave.. now we can go back to working together without establishing who is better at trading..

  • #129
  • Edited 7:23am Jan 1, 2011 5:12am | Edited 7:23am
Here it is, a semi collaborated, integrated, price staring contest, quadruple M1 system matrix price bla bla bla i dont know its just a template really.

So the a very short version of how to trade this thing is:

1) Dashed lines are buy/sell signals. The one closest to MA 20 is good for low volume, never at 70 or above. The thicker dashed is above 70 vol market, and the outmost one is 90 and above if its even to be done.

2) CCI divergence are buy/sell signals. If you see a peak/valley, look for the next one, if its smaller but still above/below 100/-100 you take that signal in the direction and to the extent of where MA 20 is.

3) When price has given signal as in 1), you can close the old postion or just add to it if there is enough space for TP between the Blue Gannhilo line and MA 20.

4) RSI usually, and im saying, USUALLY turns at 80/20 but dont get your underwear in a twist if it dont, but its a good thing to look at but you need to learn how to use it.

Above volume is ATR that shows you when to use the outer, thicker dashed lines in 1), for buy/sell, so if price gets to that red line, use the outer dashed line as signal for 1-3 hours (discretionary).

Signals are about 75% accurate and thats all yer gonna get as a greenhorn. How good you get from that is up to you.

TP 5-10 Sl 5-15 depending on volume.

Use small lots, max 1.5% of account. Id advice about 0.5% of account lots, no matter the SL. You must use scripts for orders, because you have about 1-10 seconds to get in good, so you need to look at price almost all the time.

This is no BS, its good stuff, just look at it, but it can get a lot better from collaboration. So whats needed know is to get rid of the ATR and make it so that a candle in the price window gets colored if its above a certain size, for an example 9.5/pips, which is a good guideline. If price is more then 9.5 pips/candle you need to use th thicker outer buy/sell signal.

* Use on E/U M1, but can be calibrated for other pairs.

* Stay out of news 13 min before and after.

* A candle above 14 and just walk away for some time.
Attached Image (click to enlarge)
Click to Enlarge Name: LV31.jpg Size: 225 KB
Attached File(s)
File Type: tpl lv31.tpl   813 KB | 239 downloads
File Type: ex4 Candle Time & Spread.ex4   4 KB | 227 downloads
File Type: ex4 PivotsD_v5.ex4   26 KB | 247 downloads
File Type: ex4 Gann_HiLo_Activator_v2.ex4   2 KB | 253 downloads
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  • #130
  • Jan 1, 2011 12:05pm Jan 1, 2011 12:05pm
Quoting yaed
Here it is, a semi collaborated...
Here is the indicator you were looking for...

you can set the distance in pips you are looking for.. default is 0.0010 which is 10 pips for EUR/USD

it will draw a yellow arrow underneath the candle if the candles high-low is greater than distance specified

it will do this for active and past candles

hope arrows are ok.. it was easiest to do.. I made it change candle color.. but something was wrong and would only color part of candles so I left it as arrow..

I could also make it pop up one color for 10-14 pips and another for over 14 pips?


anyways let me know!
Attached File(s)
File Type: mq4 Candle Size.mq4   2 KB | 289 downloads
  • #131
  • Jan 1, 2011 12:23pm Jan 1, 2011 12:23pm
well ,... ok i will try to help , already working on sth. so i must think about it and i will post here some ideas and plot how to maybe start so we could discuss it
  • #132
  • Jan 1, 2011 1:09pm Jan 1, 2011 1:09pm
Quoting newyear498
Here is the indicator you were looking for...

you can set the distance in pips you are looking for.. default is 0.0010 which is 10 pips for EUR/USD

it will draw a yellow arrow underneath the candle if the candles high-low is greater than distance specified

it will do this for active and past candles

hope arrows are ok.. it was easiest to do.. I made it change candle color.. but something was wrong and would only color part of candles so I left it as arrow..

I could also make it pop up one color for 10-14 pips and another for over 14 pips?


anyways...
i haven't looked at the indi so i could be off-base.

why don't you save yourself the hassle and just make it a separate window indi, and use a histogram or line (doesn't matter) that show 0 to candleheight alongside a level set in the window... just set the level to whatever the threshold you want as. from that you can visually see straight away if any candles have penetrated the level or not. saves having to do cleanup of objects from the main window too.
Congratulations ScalaFX for coming out of the closet!
  • #133
  • Jan 1, 2011 1:24pm Jan 1, 2011 1:24pm
Quoting nubcake
i haven't looked at the indi so i could be off-base.

why don't you save yourself the hassle and just make it a separate window indi, and use a histogram or line (doesn't matter) that show 0 to candleheight alongside a level set in the window... just set the level to whatever the threshold you want as. from that you can visually see straight away if any candles have penetrated the level or not. saves having to do cleanup of objects from the main window too.
Thanks Nub's...

totally overlooked this simple idea.. thanks again

here is same thing except it draws in separate window a histogram bar rather than an arrow
Attached File(s)
File Type: mq4 Candle Size.mq4   2 KB | 265 downloads
  • #134
  • Jan 1, 2011 1:28pm Jan 1, 2011 1:28pm
Quoting newyear498
Thanks Nub's...

totally overlooked this simple idea.. thanks again

here is same thing except it draws in separate window a histogram bar rather than an arrow
simple is sometimes much better. if it seems like a pain in the ass you are probably doing it wrong (same goes from scripting / coding HAZZAH!!!)
Congratulations ScalaFX for coming out of the closet!
  • #135
  • Jan 1, 2011 1:29pm Jan 1, 2011 1:29pm
Quoting nubcake
simple is sometimes much better. if it seems like a pain in the ass you are probably doing it wrong (same goes from scripting / coding HAZZAH!!!)
Oh I agree.. haha.. its just sometimes your mind gets burnt and you overlook the simple things
  • #136
  • Jan 1, 2011 1:35pm Jan 1, 2011 1:35pm
Quoting newyear498
Oh I agree.. haha.. its just sometimes your mind gets burnt and you overlook the simple things
again, haven't looked so you may have done something like this already... you might do well to use 2 histo's and a level. normal colour histo and penetrated colour histo. if penetrated then set normal histo to 0 and the special penetrated histo to the candle size, else penetrated histo is 0 and normal histo is candle size. makes for even more striking visuals
Congratulations ScalaFX for coming out of the closet!
  • #137
  • Jan 1, 2011 2:33pm Jan 1, 2011 2:33pm
UMMMMM, I would like to say if you or maybe others continue this thread I would start in a higher time frame no matter what you think. If you cant get something to work in a daily chart it sure is not going to work in a lower time frame such as 15 minutes.


A lot of traders will deny the longer term time frames but It truly should be the first place to start.

Look at S/R of weekly time frames. I look for two bar reversals areas.

You have to have patience. You will need this in any method you trade.

Keep it simple.

Just my two cents

Good luck and I hope all works out

  • #138
  • Jan 1, 2011 2:40pm Jan 1, 2011 2:40pm
Quoting yaed
Here it is, a semi collaborated, integrated, price staring contest, quadruple M1 system matrix price bla bla bla i dont know its just a template really.

So the a very short version of how to trade this thing is:

1) Dashed lines are buy/sell signals. The one closest to MA 20 is good for low volume, never at 70 or above. The thicker dashed is above 70 vol market, and the outmost one is 90 and above if its even to be done.

2) CCI divergence are buy/sell signals. If you see a peak/valley, look for the next one, if its smaller but still above/below...
could you kindly just mark an example of entry / exit on a chart so I can confirm, Thanks!
  • #139
  • Jan 1, 2011 3:44pm Jan 1, 2011 3:44pm
At first i would like to say that ,... 1000 traders that means 1000 opinions how to trade ,..

But if we have talk about the system we must do the things which all we already know :

1. TA plan
2 FA plan
3. Money managment including risk managment and profit protection ,..

TA

My opinion is that we should realize one thing . Keeping the system as simple as possible will result to success . Realize how powerfull is just one moving average . With correct setting of two moving averages could give us a poweful signal . How ? All we know is that nothing just drops against us completed so we must do some research (connected with 2 moving averages)
like:
a)entry points
b)exit points
This could be set according to the histori i mean take historical data from about 5 years (depending on TF on which we would like to trade). And watch how the moving averages behave ,... From this we should get sth like "check distance or crossbar signal - that means on which candle we should enter to the trade ,... the same could be done with exit points.
The last thing must be researched the relationship betwen our moving averages.
The only thing we should have in our graph is Stochastic (70.40.40) , MACD ,... just to see the divergences.

FA

Fundamental analysis should be set according to the instrument with which we are going to trade ,.. there should be complete research ,... sth like the same as we did with moving averages ,.. so that means just take the major news and study the graphs how the market reacts on it ,...

MM ,...

depending on the type of acc. Also here we should set the number of trades and timing how often are we going to open the trades and where ,...

This is just my opinion and ideas ,... written in shortly way ,..
  • #140
  • Jan 2, 2011 10:39am Jan 2, 2011 10:39am
Ok that works for me. I would not want it in a separate window, since then i have to look at it all the time. I think this works just fine, id like different colored candles but if its a hassle i doubt its worth the time since the arrows are pretty good too. Sp Thanks newyear!
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