Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

1 trade per pair per year 6 replies

multiple systems per pair/multiple pairs per system? 3 replies

Extracted Post (per poster's request) 0 replies

Trading 24 hours per day, 5 days per week 14 replies

Attachments: Extracted Thread (per thread starter's request)
Exit Attachments

Extracted Thread (per thread starter's request)

Quoting Magix
{quote} Working the Longer Time Frames is indeed a way to reduce risk, there really is no arguing with this as logic. With that being said, because grid traders are cost averaging based on both signal and range, they actually do require a regular trigger. Harmonics, like market, as near as I have been able to see through the use of the attached indicator as well as from past studies are Fractal in Nature. Meaning, the different time frames will have the same patterns and the only real thing that should change is the range of play. The M1 charts...
Well, you made excited Magix
I will test it on H4 and provide myfxbook link
Any preference on the pairs? Lot size? trailing or no trailing?
Thanks.
Quoting Magix
{quote} It's cool. And I'm excited!
Well explained, sounds very logical, cool ! lets see how it works out. Speaking of harmonics , there's a big ass bearish pattern currently on EU 4hr .. equilibrium is at 1.33 thereabouts ..
You gotta know when to hold 'em, know when to fold 'em ...
Quoting Dark_Force
{quote} Well, you made excited Magix I will test it on H4 and provide myfxbook link Any preference on the pairs? Lot size? trailing or no trailing? Thanks.
Hey Dark,

As far as preference, I can't honestly say I have one and I would have to go along with the idea that the pairs that typically have the highest ranges, would be probably best suited for the higher time frames. EJ, GJ, for example, might play better to the hourly than to M5, simply because when they go on a run, the ranges typically exceed those that we see in the USD crosses.

Having a bias to even Forex for me, isn't really that prevalent.

A while back, I started a Stock Traders thread here at FF and to say that I was impressed with one of the members ability to work with harmonics would be a gross understatement. I was actually AMAZED!

Have a look at a few posts from Alex, in relation to the stock markets and harmonic patterns HERE (http://www.forexfactory.com/showthread.php?p=6358432#post6358432).

After that, I have been viewing the Harmonics Thread HERE (http://www.forexfactory.com/showthread.php?t=402253). Though the bulk of what I have seen posted is EURUSD related, until we have a full sort on these by forward testing and experimenting with the different pairs, time frames and ranges, I think that the application of these on demos will be our best source of information.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Great idea with the donations!

Here's my receipt.
Attached Image (click to enlarge)
Click to Enlarge Name: d.png Size: 10 KB
Quoting namesnaw
Great idea with the donations! Here's my receipt. {image}
Namesnaw,

Welcome to the Thread and Thanks for the Donation!

Please send me a Private Message with your email address and I will forward the Christmas EA traders to you.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Quoting kosmo
Magix, What you do is noble, exceptional and very much appreciated. From what I read here at FF, in the eyes of many Senior Members, the only distraction for this site from being committed to trading, is the management themselves. Anyway, let me say 'Thank You' with a song. Just one, not to cause too much distraction... http://www.youtube.com/watch?v=OqPVz101nd0 Keep Calm and Carry On
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Quoting Dark_Force
{quote} Well, you made excited Magix I will test it on H4 and provide myfxbook link Any preference on the pairs? Lot size? trailing or no trailing? Thanks.
H4? Great.. I will cook it on H1..!!
Quoting Magix
I just don't know... Maybe an H4 Filter?: &&Bid>iOpen(NULL,PERIOD_H4, 0) <-for Buys &&Ask<iOpen(NULL,PERIOD_H4, 0)<-for Sells... This way, price at least has to be above the H4 candle open to take a long or below to take a short... Still would end up buying tops n selling bottoms, but might keep a safer on the adds on increment or multiple...
Just some loose thoughts...

In order to minimise DD and avoid adding on levels, whenever the EA buys a top or sells a bottom, we could try and apply the logic of 'hedge locks' as explained here (http://www.forexfactory.com/showthread.php?p=5412518#post5412518), by Favorite. This way, if we happen to be short at the bottom, we could just lock the DD with an opposite trade at a predefined DD level, then unlock it higher with the next short trigger. Would that be in conflict with the existing cost averaging logic?
mind over matter
Quoting kosmo
{quote} Just some loose thoughts... In order to minimise DD and avoid adding on levels, whenever the EA buys a top or sells a bottom, we could try and apply the logic of 'hedge locks' as explained here (http://www.forexfactory.com/showthread.php?p=5412518#post5412518), by Favorite. This way, if we happen to be short at the bottom, we could just lock the DD with an opposite trade at a predefined DD level, then unlock it higher with the next short trigger. Would that be in conflict with the existing cost averaging logic?
More specifically, it would be in direct conflict with the triggering.

Typically, it is only when we sell an absolute bottom or buy an absolute top that we don't realize these are the absolutes until they are several pips underwater and even then, trying to figure out where to hedge from would be the next big kicker.

We'd either have to program in logic to hedge every trade, not knowing if it will be a bottom or top, or we could set in an OBOS indicator to state not to buy or sell in extreme ranges. In doing this, as we both know, it would miss a lot of trades because Overbought and Oversold are only relative to the time frame, ranges and trend.

Buying oversold in a long trend pays.
Selling overbought in a short trend pays.

Sitting on the sidelines in these extremes can eliminate buying tops and selling bottoms.

The real question is, on which TF do we do this?

We can set our triggering for the H4 candle on any time frame lower and use the independent time frame to sit out, or we could keep the triggering to the fast charts but have the longer TF watch for the same overbought and oversold areas as to the indicator in that Base H4 TF.

And Then...

Which indicator?

RSI?
Sochs?
TDI?
ADX?

OR simple range based on the ATR, day or week?

I am not opposed to throwing the code together to limit, but as far as the hedging goes, this might be a little out of my realm and again, by logic alone would necessitate hedging every position...Simplicity dictates to trade the inside ranges and sit and wait for breakouts. Every area that has been busted through, will eventually retrace for trend confirmation and session trading.

Additionally, the biggest problem with triggering on either the H4 and daily candles is the Candle Open times based on the broker weekly open. Setting up 3 different brokers with the same H4 candles, you can get 3 completely different H4 starts...same with daily.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Having a whippy buzz-saw of a market definitely helps the grid traders and who is to say that the Garley Bots haven't found harmony with the price waves.

In any case, I think they are doing okay and looking kinda sexy at this point in the week...

The numbers seem to be agreeing...
Attached Image (click to enlarge)
Click to Enlarge Name: gartley.png Size: 45 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
forexbill99 (http://www.forexfactory.com/forexbill99)

Welcome to the thread and Thanks for the Donation!

You've got Mail!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Hello Magix, here is a snap shot of my donation receipt.
Attached Image
Quoting NightOwl76
Hello Magix, here is a snap shot of my donation receipt. {image}

NightOwl!!

Welcome to the thread and Thanks for the Donation!

You've got Mail!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Quoting Magix
{quote} More specifically, it would be in direct conflict with the triggering. Typically, it is only when we sell an absolute bottom or buy an absolute top that we don't realize these are the absolutes until they are several pips underwater and even then, trying to figure out where to hedge from would be the next big kicker. We'd either have to program in logic to hedge every trade, not knowing if it will be a bottom or top, or we could set in an OBOS indicator to state not to buy or sell in extreme ranges. In doing this, as we both know, it would...
Thanks, Magix. Your feedback is invaluable. I will give it some more thought.
mind over matter
Quoting kosmo
{quote} Thanks, Magix. Your feedback is invaluable. I will give it some more thought.

WHEW!

Dodged that bullet!

I am gunna letcha know that whilst you're away thinkin about it, I'm just going to continue on with getting fat n drunk...it's what my people do for the season...

And

On a separate yet related note, I'm going to stop holding in my stomach for a few minutes too...

(Yeah, I'm still a little awkard around the gals...)
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Hy Magix... just to ask if your Harmonic (myfxbook statement) is setting on tf5 or tf1 as before?
Regards
Quoting cescof
Hy Magix... just to ask if your Harmonic (myfxbook statement) is setting on tf5 or tf1 as before? Regards
I started on the M1 to verify that it would actually take trades...

Once was there, I migrated over to the M5 charts. All pairs are currently on the M5 TF.

tp_in_money = $1.

Trailing and auto profit are disabled.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Quoting Magix
{quote} I started on the M1 to verify that it would actually take trades... Once was there, I migrated over to the M5 charts. All pairs are currently on the M5 TF. tp_in_money = $1. Trailing and auto profit are disabled.

Thanks... and why tp_in_money = $1? is it enough?
Regards
Quoting cescof
{quote} Thanks... and why tp_in_money = $1? is it enough? Regards
This, my friend, is an excellent question.

Unfortunately, there are several correct and valid answers to it.

When watching the overall performance of the TDI TOE ea and comparing it to the Next Gen, I see a couple of different things. Though they are both prosperous, one is the TDI_TOE is carrying a lot of baggage by way of drawdown.

This drawdown can be both a good and bad thing.

Good, because it prospers at higher levels.
Bad, because it increases the risk with each level and by the time they actually come clean, might still be greatly underwater due to swap fees.

If you have tested with these for a few weeks, allowing the trailing stop to close trades, and you look at the actual chart, what you will eventually come to see is that there are buys at the top of the chart, sells at the bottom of the chart and a great big space in between that is current price. What this ends up doing, is building positions and in the case of a wild swing, one of these will be taken out for profit, leaving the other unattended or hedged. Cost averaged in with a martingale style position and things start to look sad.

The first couple weeks for TDI_TOE looked a lot better than the last 2. The first 2 were consistently building the account, the current are slowly building the DD.

Where am I going with this?

I see it like this.

TDI is actually kicking ass on a pip count over Next Gen, but profit wise, and partially due to the DD, it is lagging behind.

If I look at the average profit per trade, here is what I see:
4926.6 pips gained on 424 trades.
Average that out, and it looks like this 4926.6/424=11.61

So, 11.6 pips per trade and a bunch of losers. If I drop down to 10 pips and have them all close together, I will be cutting losses, and decreasing the amount of pips per trade, but if it doesn't fill my basket with risk, I think I can deal with that.

Of course, this too is all theory...but testing in a demo environment, can't really hurt...
Attached Image (click to enlarge)
Click to Enlarge Name: maths.png Size: 30 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
Damn!
Attached Image (click to enlarge)
Click to Enlarge Name: gartley.png Size: 32 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
0 traders viewing now