There is a professional trader called Chuck leBeau who has done a lot of work with Chandelier trailing stops. It is worth doing an internet search for his work for more that just the context of this thread.
Vincit qui se vincit.
"The Logical Trader" - Thread to develop manual trading using insights from this book
- #41
- Edited 4:33am Mar 22, 2011 3:58am | Edited 4:33am
- Joined Apr 2007 | Status: vincit qui se vincit | 6,251 Posts
Hello Friends....
I got the book [Thanks Steev...]
I observed many times, If market achieved their average daily range most of the day reverse back .... my point is why should we place our takeprofit level in that range....?
Arun...
I got the book [Thanks Steev...]
I observed many times, If market achieved their average daily range most of the day reverse back .... my point is why should we place our takeprofit level in that range....?
Arun...
Steve,
just some ramblings that are rattling around inside my napper
The system at present has a great solid base for day-trading, scalping, shorter moves, what if you modified the email / notification settings to alert for :-
Either (switched on or off or both)
Alert for Open Range breaches
Alert for Pivot Range breaches
This way I guess if your are longer term trader, say on the 4HR then you could run the EA on a shorter time frame looking for maybe pivot range breaches, which in turn may alert you to look at your longer term system (whatever that may be).
Early warning type thing, if the pivot is breached on your intra-day charts, then go check your longer term position charts ?
just an idea.
cheers.
just some ramblings that are rattling around inside my napper
The system at present has a great solid base for day-trading, scalping, shorter moves, what if you modified the email / notification settings to alert for :-
Either (switched on or off or both)
Alert for Open Range breaches
Alert for Pivot Range breaches
This way I guess if your are longer term trader, say on the 4HR then you could run the EA on a shorter time frame looking for maybe pivot range breaches, which in turn may alert you to look at your longer term system (whatever that may be).
Early warning type thing, if the pivot is breached on your intra-day charts, then go check your longer term position charts ?
just an idea.
cheers.
- #44
- Mar 22, 2011 6:35am Mar 22, 2011 6:35am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Either (switched on or off or both)
Alert for Open Range breaches
Alert for Pivot Range breaches
This way I guess if your are longer term trader, say on the 4HR then you could run the EA on a shorter time frame looking for maybe pivot range breaches, which in turn may alert you to look at your longer term system (whatever that may be).
just an idea.
cheers.
- #45
- Mar 22, 2011 6:35am Mar 22, 2011 6:35am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I have put a scripts zip into post 1, containing scripts to send long and short trades. I can develop these by adding peoples favourite tp and sl calculation methods. Sing out with your requests.
- #46
- Mar 22, 2011 8:32am Mar 22, 2011 8:32am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Just taken this sell. Price bounced of the sixths high and screamed down.
If it crashes through the pivot range, I will take another trade - going to leave a pending in place.
If it crashes through the pivot range, I will take another trade - going to leave a pending in place.
- #47
- Mar 22, 2011 12:28pm Mar 22, 2011 12:28pm
Another though Steve,
Don't know if anyone else would find this handy or not, however there seems to be a few 3rd party 3 day rolling pivot indi's out there, all of which seem to kill the cpu at some point when added to X amount of charts.
Is it possible to add another section to your signals generator where in green you would also have the 3 day rolling pivot range ?
Maybe useful to know where it is in terms of another point of reference for added support / resistance.
The below screen shot show's a 3rd party indi in green, but shows what it would look like within the yellow vertical lines.
The poor performance reason maybe because the 3 day rolling indi shows all chart history, rather than just today's position (or from your defined open range starting point)
From a coders perspective I don't know if I'm talking bollocks or not tbh.
Don't know if anyone else would find this handy or not, however there seems to be a few 3rd party 3 day rolling pivot indi's out there, all of which seem to kill the cpu at some point when added to X amount of charts.
Is it possible to add another section to your signals generator where in green you would also have the 3 day rolling pivot range ?
Maybe useful to know where it is in terms of another point of reference for added support / resistance.
The below screen shot show's a 3rd party indi in green, but shows what it would look like within the yellow vertical lines.
The poor performance reason maybe because the 3 day rolling indi shows all chart history, rather than just today's position (or from your defined open range starting point)
From a coders perspective I don't know if I'm talking bollocks or not tbh.
- #48
- Mar 22, 2011 5:20pm Mar 22, 2011 5:20pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I have added the Pivot Range breakout code - post 1.
When you first load, the bot will generate a host of these alerts;it makes no check on when the breakout occurs.
When you first load, the bot will generate a host of these alerts;it makes no check on when the breakout occurs.
- #49
- Mar 23, 2011 3:18am Mar 23, 2011 3:18am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Those Pivot Range breakout signals were a bit annoying when there was not a clean breakout and the price kept on returning to the range, so I have added PipsBuffer to the calculation - represented as a dotted line on the chart.
This can have its own buffer input if needed.
Update in post 1.
This can have its own buffer input if needed.
Update in post 1.
- #50
- Mar 23, 2011 3:22am Mar 23, 2011 3:22am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
From a coders perspective I don't know if I'm talking bollocks or not tbh.
Custom indi's are well known for thrashing the cpu. Calls to them from within an ea murder it, which is why coders prefer to keep the code in-house.
Truth to tell, I skimmed much of the later chapters of the book (I found myself doubting the relevance of much of it to my intraday-scalping), so I am only vaguely aware what the 3 day rolling pivot is. When I know what it is for certain, I can code it.
Been having a play with dividing up the sessions between the London Open which I'm starting at 8am GMT and the US Open which I've started at 12noon GMT.
Interesting results between the 2 sessions across the pairs, you can see some early fake outs starting at London then a complete reverse during the US session.
Bottom line is pips to be made at both open's. Also finished the book last night, probably one of the best reads I've had in Forex (by that I mean non-boring, simple to follow and mind blowing).
The idea of getting a signal from a long-term 4HR / Daily system, then dropping to ACD on the London/US intra day opens and looking for A's + C's in the direction of the Long-term signal is something i'm going to look into.
ACD is cool what can I say
Looking at GBP/USD from US open yesterday, easy to see the follow thru from london and the momentum in the RSI.
Mark talks about stepping on the gas when you see a great signal, I guess that was one. You could have scalped that 3 or 4 times I guess.
He's also trading sick lot sizes and taking small bites 5-10 points it seems rather than looking for 100+ runs, something I need to get my head around personally, I'm so used to thinking you need 60+ etc to make money when you don't really I guess 5 pips makes dosh as well.
Most of his students also talk about using ACD as their primary confirmation of already developed alternative trading systems and I can see why. The permutations are endless, its gonna be fun testing this with other intra-day systems on here, something special is brewing I can feel it!
(THV comes to mind but that's for another demo machine)
Shit I think i need a second test server
later.
Interesting results between the 2 sessions across the pairs, you can see some early fake outs starting at London then a complete reverse during the US session.
Bottom line is pips to be made at both open's. Also finished the book last night, probably one of the best reads I've had in Forex (by that I mean non-boring, simple to follow and mind blowing).
The idea of getting a signal from a long-term 4HR / Daily system, then dropping to ACD on the London/US intra day opens and looking for A's + C's in the direction of the Long-term signal is something i'm going to look into.
ACD is cool what can I say
Looking at GBP/USD from US open yesterday, easy to see the follow thru from london and the momentum in the RSI.
Mark talks about stepping on the gas when you see a great signal, I guess that was one. You could have scalped that 3 or 4 times I guess.
He's also trading sick lot sizes and taking small bites 5-10 points it seems rather than looking for 100+ runs, something I need to get my head around personally, I'm so used to thinking you need 60+ etc to make money when you don't really I guess 5 pips makes dosh as well.
Most of his students also talk about using ACD as their primary confirmation of already developed alternative trading systems and I can see why. The permutations are endless, its gonna be fun testing this with other intra-day systems on here, something special is brewing I can feel it!
(THV comes to mind but that's for another demo machine)
Shit I think i need a second test server
later.
- #53
- Mar 24, 2011 4:18am Mar 24, 2011 4:18am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
He's also trading sick lot sizes and taking small bites 5-10 points it seems rather than looking for 100+ runs, something I need to get my head around personally, I'm so used to thinking you need 60+ etc to make money when you don't really I guess 5 pips makes dosh as well.
For the rest of us, we have two choices:
- shed-loads of scalp trades adding up to shed-loads of pips:
- less frequent trades that make shed-loads of pips on the back of a big move.
Imagine having $100,000 in a standard account and being able to trade 5 lots per trade. 1 pip a day would do quite nicely.
I am having a good week demo-trading ACD. I am gradually refining a strategy that I will post over the weekend, along with some results. Up 9% on the account so far, with only one open trade at the mo.
- #54
- Mar 24, 2011 7:45am Mar 24, 2011 7:45am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
The perfect trade. In and out in 65 minutes for my +30 tp.
- #56
- Mar 24, 2011 10:05am Mar 24, 2011 10:05am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Here is another. In and out in 18 minutes.
I am demo-trading eu, ej, eh, gu, gj, gc from 7.00 gmt and uj & uc at 13.00 gmt. I am finding at the mo that these pairs are moving in groups. If I get 1 Ex trade, I often get the other two trading quite soon afterwards.
I have attached the eu trade; a similar ej just closed at my +30 tp.
I am demo-trading eu, ej, eh, gu, gj, gc from 7.00 gmt and uj & uc at 13.00 gmt. I am finding at the mo that these pairs are moving in groups. If I get 1 Ex trade, I often get the other two trading quite soon afterwards.
I have attached the eu trade; a similar ej just closed at my +30 tp.
Astral,
I must thank you for having pointed us to Mark Fisher's book and videos.
I spent a few hours this week-end watching the videos
(when i was tired tiling my bathroom!!! well, in fact, they both work together: watch a video, go do some tiling in the bathroom for 2 hours, that gives you a good time to digest the concepts!
then go back watch the next video...)
I still have #5 and #6 to watch... and a few square meters of tiling left.
This guy is simply fascinating!
I'm sure Steve and Mark must be sharing some genetic material...
An interesting point that Mark Fisher is making is about the importance of timing to exit a trade.
To him, timing is even more important than price to exit the trade: when price stalls, put on the brakes.
Laguerre comes to my mind when thinking about price stalling, or price exhaustion.
ALF is well known for going very flat when price starts stalling.
This would be a good indication of price not going anywhere for "long enough", and hence exit the trade.
Perhaps we can use that as our "brake pedal".
Just a thought.
Mark Fisher insists on the MA slopes for entering the trade (video #3 is really intersting).
ALF slope could be good for time-based exit IMO.
I have attached the regular "alf" indicator, and an "ALF-slope" that i wrote for this purpose.
"ALF-slope" draws the slope of an ALF line.
Exit your trade when it "returns" to a near-0 level.
For a stronger exit signal, set "timeframe" 1 step higher than the chart's timeframe (e.g. 15 on an M5 chart), and exit when both ALF-slopes are near-0.
(You can plot multiple ALF-slopes of different TFs in the same subwindow)
I have attached also a template with 3ema's, 1 ALF, and 2 ALF-slopes.
Sq
I must thank you for having pointed us to Mark Fisher's book and videos.
I spent a few hours this week-end watching the videos
(when i was tired tiling my bathroom!!! well, in fact, they both work together: watch a video, go do some tiling in the bathroom for 2 hours, that gives you a good time to digest the concepts!
then go back watch the next video...)
I still have #5 and #6 to watch... and a few square meters of tiling left.
This guy is simply fascinating!
I'm sure Steve and Mark must be sharing some genetic material...
An interesting point that Mark Fisher is making is about the importance of timing to exit a trade.
To him, timing is even more important than price to exit the trade: when price stalls, put on the brakes.
Laguerre comes to my mind when thinking about price stalling, or price exhaustion.
ALF is well known for going very flat when price starts stalling.
This would be a good indication of price not going anywhere for "long enough", and hence exit the trade.
Perhaps we can use that as our "brake pedal".
Just a thought.
Mark Fisher insists on the MA slopes for entering the trade (video #3 is really intersting).
ALF slope could be good for time-based exit IMO.
I have attached the regular "alf" indicator, and an "ALF-slope" that i wrote for this purpose.
"ALF-slope" draws the slope of an ALF line.
Exit your trade when it "returns" to a near-0 level.
For a stronger exit signal, set "timeframe" 1 step higher than the chart's timeframe (e.g. 15 on an M5 chart), and exit when both ALF-slopes are near-0.
(You can plot multiple ALF-slopes of different TFs in the same subwindow)
I have attached also a template with 3ema's, 1 ALF, and 2 ALF-slopes.
Sq
Astral,
I must thank you for having pointed us to Mark Fisher's book and videos.
I spent a few hours this week-end watching the videos
(when i was tired tiling my bathroom!!! well, in fact, they both work together: watch a video, go do some tiling in the bathroom for 2 hours, that gives you a good time to digest the concepts!
then go back watch the next video...)
I still have #5 and #6 to watch... and a few square meters of tiling left.
This guy is simply fascinating!
I'm sure Steve and Mark must be sharing some genetic material...
this is a great idea. I have always been a fan of ALF and defininitely has potential. Hardest thing with any indicator is recognising exhaustion of a move and i think this may do it.
The Kamakazi