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Dreamliners’ MPAS (Mechanical Price Action Strategy) System

  • #261
  • Dec 27, 2010 6:41pm Dec 27, 2010 6:41pm
The reason there is no discussion about it here is because of what is already taking place: the discussion turning to the EA rather than the method. Pretty soon there will be a version 2.0 then a version 2.1, etc. etc. This thread will literally be hijacked by discussions from people asking how to set the EA up, how to load it on a chart, oh no mine doesn't work, what do I do?

So no, it is not a shame to keep that discussion out of here when our objective is to test the method. I'm not opposed to an EA whatsoever, just needs to be another thread. Thank you.

Quoting tazmaan
the ea doesnt actually take trades, just marks entries etc for testing purposes.
Notice the sl is incorrect on mine, already sent zz a pm about it since apparently there's no discussion about it on here (a shame)
  • #262
  • Dec 27, 2010 6:42pm Dec 27, 2010 6:42pm
Guys, I have asked nicely. Please take any discussion about an EA to another thread.

Quoting sidhujag
I see... no markings here though
  • #263
  • Dec 27, 2010 6:46pm Dec 27, 2010 6:46pm
That is exactly right. Zam is testing 20-30 and I'm testing 17-25.

Quoting Musashi
So x=17-25 implies that for a short trade there must be an upper wick of at least 17 pips but no greater than 25 pips right?

and for a long trade there must be a lower wick of at least 17 pips but no greater than 25 pips right ?

If price goes to 17 Pips you then put your sell/buy stops into the market and then if price goes above the 25 pips before your order is hit you then remove the order until the next bar opens?
  • #264
  • Dec 27, 2010 6:48pm Dec 27, 2010 6:48pm
Stop loss is the low of the bar on a long and the high of the bar on a short, up to the cancel level of 25.

Quoting zznbrm
Decompile away - please pay particular attention to the copyright at the top of the decompiled source code.

Dreamliner - can we get clarification of the SL? I coded it to always be where the alert is triggered, 17 pips from bar open. Others believe it should be the high/low of the candle (up to the cancel level of 25 pips).
  • #265
  • Dec 27, 2010 6:55pm Dec 27, 2010 6:55pm
As long as the thread does not become tech support for an indicator, or EA. Thank you for your work.

Quoting zznbrm
It is really just an indicator. I created it as an EA for reasons you would not understand - although an indicator would work the same way. This is an EA to automatically display lines so that manual traders can easily see the applicable levels. It does not open trades. I thought I would share it so folks did not have to manually create the price lines during their manual forward testing.

I purposefully did not include the source code just for this reason - so there is no "developer by committee" and numerous updates flooding your thread.

Continue...
  • #266
  • Dec 27, 2010 7:00pm Dec 27, 2010 7:00pm
Quoting zznbrm
It is really just an indicator. I created it as an EA for reasons you would not understand - although an indicator would work the same way. This is an EA to automatically display lines so that manual traders can easily see the applicable levels. It does not open trades. I thought I would share it so folks did not have to manually create the price lines during their manual forward testing.

I purposefully did not include the source code just for this reason - so there is no "developer by committee" and numerous updates flooding your thread.

Continue...
Yes I couldn't agree more.... in any sort of backtesting using a piece of software to assist has to be extremely useful. Especially for this type of methodology.
  • #267
  • Dec 27, 2010 7:12pm Dec 27, 2010 7:12pm
I was thinking... the high and low of the bar is a good place to stop but for myself I would also add 5 pips buffer for stop loss hunting aswell as genuine trend continuation.. we know there will be a high chance of a reversal but we have to allow room to breathe for our trade.

If the criteria gets you atleast 1:1 R:R then I would take it.

However that would limit our entry from 17-20 pips only so not place to enter... you can increase the TP to make a 1:1 trade if you really want the 17-25 entry. I think this may get us more positive trades if our entry criteria is good. The SL is the thing I think needs improvement.
  • #268
  • Dec 27, 2010 7:14pm Dec 27, 2010 7:14pm
R:R will never be less than 1:1 the way I trade it. Zam will get slightly less than that.

Quoting sidhujag
I was thinking... the high and low of the bar is a good place to stop but for myself I would also add 5 pips buffer for stop loss hunting aswell as...
  • #269
  • Dec 27, 2010 7:17pm Dec 27, 2010 7:17pm
Quoting Dreamliner
R:R will never be less than 1:1 the way I trade it. Zam will get slightly less than that.
Are you trading only one order per bar?
  • #270
  • Dec 27, 2010 7:19pm Dec 27, 2010 7:19pm
Yes, I am. I am going to be adding other pairs too, though. EUR/USD and EUR/JPY.

Quoting Musashi
Are you trading only one order per bar?
  • #271
  • Dec 27, 2010 7:28pm Dec 27, 2010 7:28pm
Quoting Dreamliner
R:R will never be less than 1:1 the way I trade it. Zam will get slightly less than that.
Hi DL,

Yes... but personally I like to take stop loss hunting into account.. thus for me the rules will be different.. todays trade seems like a bigger and bigger reversal is imminent.. but also the original 1:1 with 17-25 is intact. Lets see if this 5 pip buffer comes into play.

Jag
  • #272
  • Dec 27, 2010 7:31pm Dec 27, 2010 7:31pm
Quoting sidhujag
Hi DL,

Yes... but personally I like to take stop loss hunting into account.. Jag
What are you on about when you say stop loss hunting? Define stop loss hunting on a price chart?
  • #273
  • Dec 27, 2010 7:32pm Dec 27, 2010 7:32pm
Alright, keep us informed. I was scared to trade with the bank holidays, but then again I didn't take that, or news, into account when backtesting.

Quoting sidhujag
Hi DL,

Yes... but personally I like to take stop loss hunting into account.. thus for me the rules will be different.. todays trade seems like a bigger and bigger reversal is imminent.. but also the original 1:1 with 17-25 is intact. Lets see if this 5 pip buffer would help.

Jag
  • #274
  • Dec 27, 2010 7:35pm Dec 27, 2010 7:35pm
Quoting Musashi
What are you on about when you say stop loss hunting? Define stop loss hunting on a price chart?
Ok I'll try to illustrate using todays trade as an example.

The high is in place and weak shorts (retail) are in with the high as SL. SM then shakes out the weak shorts since most of the SL's are placed at the high to reserve their R:R. A pop above the high often occurs when weak money accumulates the SL int he same spot. The reversal still comes but the weak money isn't there to profit.

Jag
  • #275
  • Dec 27, 2010 7:38pm Dec 27, 2010 7:38pm
Quoting sidhujag
Ok I'll try to illustrate using todays trade as an example.

The high is in place and weak shorts (retail) are in with the high as SL. SM then shakes out the weak shorts since most of the SL's are placed at the high to reserve their R:R. A pop above the high often occurs when weak money accumulates the SL int he same spot. The reversal still comes but the weak money isn't there to profit.

Jag
I understand what you are saying but I don't necessarily agree... Weak Shorts... then Supposedly Smart Money takes out the Weak Shorts....

This way of thinking is total garbage...
  • #276
  • Dec 27, 2010 7:41pm Dec 27, 2010 7:41pm
Quoting Musashi
I understand what you are saying but I don't necessarily agree... Weak Shorts... then Supposedly Smart Money takes out the Weak Shorts....

This way of thinking is total garbage...
Why do you say that? You don't believe the contrarian play has been a driving force in the market for the last 10 years? My idea is based on market theory and principles that drive PA today... what's your stand on why it would be garbage to allow weak money to profit? Everyone can see there is a high in with lower highs and lower lows happening.
  • #277
  • Dec 27, 2010 7:46pm Dec 27, 2010 7:46pm
Quoting sidhujag
Why do you say that? You don't believe the contrarian play has been a driving force in the market for the last 10 years? My idea is based on market theory and principles that drive PA today... what's your stand on why it would be garbage to allow weak money to profit? Everyone can see there is a high in with lower highs and lower lows happening.
It matters not what drives the price action my friend. All that matters is the price action.
  • #278
  • Dec 27, 2010 8:04pm Dec 27, 2010 8:04pm
But when you decide to use SL and TP do you not place a bet on where you think the price action will go? Therefor you introduce a variable that is not under your control and you are assuming you have picked the direction of events. Those events are controlled externally and thus would lead you to make a hypothesis on how those events happen or take place.

Well it would make me sleep better at night anyway
  • #279
  • Dec 27, 2010 8:19pm Dec 27, 2010 8:19pm
Quoting sidhujag
But when you decide to use SL and TP do you not place a bet on where you think the price action will go? Therefor you introduce a variable that is not under your control and you are assuming you have picked the direction of events. Those events are controlled externally and thus would lead you to make a hypothesis on how those events happen or take place.

Well it would make me sleep better at night anyway
Like I said I don't try to rationalize anything in this market, what's the point. Probabilities is all that matters. Probabilities based on what has happened before and what is likely to happen again.

Which is what this thread is all about. The rest... is well... pointless..
  • #280
  • Edited 10:34pm Dec 27, 2010 8:44pm | Edited 10:34pm
This is very true. What I have yet to figure out though, is what is the edge that this system has? We are basically saying if the market goes up "some" enter a sell stop back where it started to go up in hopes that it will keep going down. What kind of an edge is that?

And yet I can't deny that there is indeed probability, which is very noticeable in backtesting.

Still I wish we could put our finger on what the "edge" is with this system, if any. Any takers?

Quoting Musashi
Like I said I don't try to rationalize anything in this market, what's the point. Probabilities is all that matters. Probabilities based on what has happened before and what is likely to happen again.

Which is what this thread is all about. The rest... is well... pointless..
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