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Daytrading using VWB II spreadsheets??

  • #1
  • First Post: Mar 6, 2006 4:32pm Mar 6, 2006 4:32pm
After studing VWB II (which I'm using now, Thank you Vegas) I got to wondering about the "daytrading system" that he mentions. So I started "playing" around with this trying to figure out how it could work. So I'm wondering if anyone else is/did try this and what their results/experiences where using it.

I've been demoing an account for the last 3 weeks (which I know isn't long enough) using just the info in the spreadsheet.

I dont want to make this a novel so if anyone else is doing this or is interested I will post what I've done and methods etc...

Thanks
Shootist - Have Pip Shooters Will Travel
  • #2
  • Mar 6, 2006 6:11pm Mar 6, 2006 6:11pm
I would be interested to see the results, and methods of what you have done. I did see that there could be a good day trading module on the 1 hour chart and the spreadsheets that we used to gain an entry on the Daily.

So how did it go?

John


Quoting Shootist
After studing VWB II (which I'm using now, Thank you Vegas) I got to wondering about the "daytrading system" that he mentions. So I started "playing" around with this trying to figure out how it could work. So I'm wondering if anyone else is/did try this and what their results/experiences where using it.

I've been demoing an account for the last 3 weeks (which I know isn't long enough) using just the info in the spreadsheet.

I dont want to make this a novel so if anyone else is doing this or is interested I will post what I've done and methods etc...

Thanks
  • #3
  • Mar 6, 2006 10:38pm Mar 6, 2006 10:38pm
Quoting Shootist
After studing VWB II (which I'm using now, Thank you Vegas) I got to wondering about the "daytrading system" that he mentions. So I started "playing" around with this trying to figure out how it could work. So I'm wondering if anyone else is/did try this and what their results/experiences where using it.

I've been demoing an account for the last 3 weeks (which I know isn't long enough) using just the info in the spreadsheet.

I dont want to make this a novel so if anyone else is doing this or is interested I will post what I've done and methods etc...

Thanks
go ahead Shootist, tell us about it, simply and concisely!
  • #4
  • Mar 7, 2006 10:34pm Mar 7, 2006 10:34pm
Ok here goes.

First off let me say that I'm not a pro or even close, I also don't have the "high power" education that alot of you have. I'm a aircraft mechanic thats trying like hell to figure all this out!!

Until today I was breaking even in demo. Today I had a loss.

Here's what I'm doing.

The things that the spreadsheet gives me:
1. a median range for the last 20 days
2. the number of pips movement that is 75% likely for a continuation of the trend.

So what I have done is take the 75% number and added that to the open each day for a buy number and subtracted it for a sell number. The market has hit one of these numbers everyday except 2. And everyday that it has hit the trend has continued thru the day.

Since I can't sit and watch the market all night waiting to get in I set buy/sell stops at the numbers from above.

The problem I have had is figuring out where to put the S/L so that I don't get stopped out early.

For S/L I have tried:
15 with 15 trailer
50 with 30 trailer (which has worked the best so far, but when a loss hit it was huge)

Today at work I was thinking about this problem and thought that I would make a spreadsheet like the VWB's with each candles range for the last 24 hours (off the hourly chart) so I could figure out what 75% of the candles ranges were and use that as a S/L and trailer. This I am trying out tonight 3/7 we'll see if that works better.

I forgot to mention that I'm testing this on:
EUR/USD
GBP/USD
USD/CHF

I would like to hear any thoughts/ideas/comments.
Shootist - Have Pip Shooters Will Travel
  • #5
  • Mar 7, 2006 11:24pm Mar 7, 2006 11:24pm
What about take profit points what do you set those to.

Setting stops is more of an art from what I hear.
Not sure if setting stops at the low or high of the day would be to much?




Quoting Shootist
Ok here goes.

First off let me say that I'm not a pro or even close, I also don't have the "high power" education that alot of you have. I'm a aircraft mechanic thats trying like hell to figure all this out!!

Until today I was breaking even in demo. Today I had a loss.

Here's what I'm doing.

The things that the spreadsheet gives me:
1. a median range for the last 20 days
2. the number of pips movement that is 75% likely for a continuation of the trend.

So what I have done is take the 75% number and added that to the open each day for a buy number and subtracted it for a sell number. The market has hit one of these numbers everyday except 2. And everyday that it has hit the trend has continued thru the day.

Since I can't sit and watch the market all night waiting to get in I set buy/sell stops at the numbers from above.

The problem I have had is figuring out where to put the S/L so that I don't get stopped out early.

For S/L I have tried:
15 with 15 trailer
50 with 30 trailer (which has worked the best so far, but when a loss hit it was huge)

Today at work I was thinking about this problem and thought that I would make a spreadsheet like the VWB's with each candles range for the last 24 hours (off the hourly chart) so I could figure out what 75% of the candles ranges were and use that as a S/L and trailer. This I am trying out tonight 3/7 we'll see if that works better.

I forgot to mention that I'm testing this on:
EUR/USD
GBP/USD
USD/CHF

I would like to hear any thoughts/ideas/comments.
  • #6
  • Mar 8, 2006 1:04am Mar 8, 2006 1:04am
Have you ever thought of using trailing stop to get in to the market. I think it is very hard to put in a buy order at a said price and stop loss with say 15/20 points then forget about it without seeing the momentum/speed at which it is approaching your entry.( i say this with experiance) as I have been piped out by 1 pips and four pips the spread recently using short stops of 15/20pips with the market only to go the way I thought missing out on 350/400 pips. Now that hurts!@#
  • #7
  • Mar 8, 2006 1:46am Mar 8, 2006 1:46am
Quoting Shootist
So what I have done is take the 75% number and added that to the open each day for a buy number and subtracted it for a sell number.
Shootist,

How are you doing this?

75% number + the open = xxxx
75% number - the open = yyyy

Are you dividing xxxx and yyyy by some other number?

Could you post a real example?

Regards,
  • #8
  • Mar 8, 2006 6:39am Mar 8, 2006 6:39am
I understand that there are several programmers here in the forum.

I am requesting some help to add the following feature to the spreadsheet:

I would like to be able to collect the prices in real time in a file both for the bid and for the ask as they flow in from MT4. I would like to have the ability to call these prices into some of the Excel functions.

For instance, Excel has a sum function. I would like to be able to call the file collecting the bid prices and then to add them.
In Excel language this might look like this:

=Sum(startofbidpricefile:endofbidpricefile)

I am interested in testing an idea I have for determining direction from these collected prices.

Statistically speaking I need a very large number of prices in order to work out direction.

Regards,
  • #9
  • Mar 8, 2006 7:59am Mar 8, 2006 7:59am
Quoting lambrechtj
What about take profit points what do you set those to.

Setting stops is more of an art from what I hear.
Not sure if setting stops at the low or high of the day would be to much?
Lambrecht,

I was thinking about this same thing on the way to work this morning. I'm thinking of using a take profit point @ 25 pips just to see if it will hit it repeatedly.

What I was doing was letting it stop out with the trailing stop, which was working half the time.

5minutestudent,

I will post a real example when I get home from work this afternoon.
Shootist - Have Pip Shooters Will Travel
  • #10
  • Mar 8, 2006 8:10am Mar 8, 2006 8:10am
Quoting shano2000
Have you ever thought of using trailing stop to get in to the market. I think it is very hard to put in a buy order at a said price and stop loss with say 15/20 points then forget about it without seeing the momentum/speed at which it is approaching your entry.( i say this with experiance)
Shano2000,

I don't know what you mean by using trailing stop to get into the market?? The only way I know to use a trailing stop is after you are already in. Could explain this please.

I have had the same problem with it hitting my open price then heading the other way just enough to take out my S/L and then finishing its daily range out in the positive direction. I'm working on how to get around that.
Shootist - Have Pip Shooters Will Travel
  • #11
  • Mar 8, 2006 10:07pm Mar 8, 2006 10:07pm
Quoting 5MinuteStudent
Shootist,

How are you doing this?

75% number + the open = xxxx
75% number - the open = yyyy

Are you dividing xxxx and yyyy by some other number?

Could you post a real example?

Regards,
5minutestudent,

For eur/usd it opened at 5 mst @ 1.1921 (beginning of the new day for interbankfx)
so I took the 75% # which is 28 pips according to my spreadsheet and added it to the open price for a buy stop and subtracted it for a sell stop.

1.1921+28 pips=1.1949 buy stop
1.1921-28 pips=1.1894 sell stop

thats all I'm doing for an entry point.
Shootist - Have Pip Shooters Will Travel
  • #12
  • Mar 9, 2006 6:16am Mar 9, 2006 6:16am
Quoting Shootist
5minutestudent,

For eur/usd it opened at 5 mst @ 1.1921 (beginning of the new day for interbankfx)
so I took the 75% # which is 28 pips according to my spreadsheet and added it to the open price for a buy stop and subtracted it for a sell stop.

1.1921+28 pips=1.1949 buy stop
1.1921-28 pips=1.1894 sell stop

thats all I'm doing for an entry point.
Shootist,

I am confused by your use of the term buy stop.

Do you mean by buy stop that you are selling up to 1.1948, and if it goes above this you have a stop loss at 1.1949?

Or does this mean you are willing to buy up to 1.1949?

From today's action so far, the correct strategy would have been to sell @ 1.1949 with a stop loss above this level of x number of pips, and to buy this back at 1.1915.

Current range at the time of writing this: 1.1915 - 1.1953

Regards,
  • #13
  • Mar 9, 2006 8:02am Mar 9, 2006 8:02am
Quoting Shootist
First off let me say that I'm not a pro or even close, I also don't have the "high power" education that alot of you have. I'm a aircraft mechanic thats trying like hell to figure all this out!!
Don't demean yourself! Hell, I'd love to know how to do the stuff you do... I know about the basics of how planes fly, but that is it.

I never touched any part of a plane that wasn't on the inside of a passenger's cabin. (Well, almost true... I did get to touch the outside a few time when using small planes that require you to walk to them over the tarmack <G>)

Everybody has got skills other people do not have. Be proud of being unique!
  • #14
  • Last Post: Mar 10, 2006 6:37am Mar 10, 2006 6:37am
shootist
I have had a few occassions where I expected the market to turn but had a close stop eg 15/20 pips which on the cable is not much so was stopped out..

Now when you get to breakeven or profit you would often use the trailing stop to protect what you had and to gain abit more if it trends in your favour .So say I want to go short on cable and its trading above the 233 fibs I enter a stop sell order with a trailing stop lets say 30 points at 233 fib line
Would probably place a another buy stop above r1/r2.(for protection should I get stopped in short but far enough away as to not be stopped in on the long on the wrong side of the market. All this allows you to do is get a better entry should your timing be out and the market spikes or makes that last little rally.It still does require monitoring and would not suit all occassions.

hope that makes some sense??

shano
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