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Market Wizard
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Everything posted by BlueHorseshoe

  1. Not rich? Join the club You should try to be realistic about what you expect to achieve. A 10% return each year is perfectly acceptable. 20% is very good. And 30% theoretically places you amongst the elite performing hedge funds. If you think you're going to be quadrupling your money every month then forget it. Secondly, realize that position sizing is one of the main factors in growing your account. Assuming you need to double your account before you can double your position size, then there is going to be a long wait before you can increase your position size if you're trading something that costs a lot of money (like a leveraged futures contract). You need to trade something with less value so that once your account has increased by, say, just 1%, you can increase your position size by 1% (as opposed to waiting until your account has increased by 100% to increase your position size by 100% because you can't by 1% chunks of a contract). In my opinion this "granularity" is absolutely essential if you want to grow a small account. Hope that helps! BlueHorseshoe
  2. Hi JohnGo, The question would maybe be better posted in the TradeStation programming forum, but to be honest I'm guessing that I am now the only person left on TL who would answer your question, so . . . I'm assuming that you know how to create an indicator if I write the code for you? If not then let me know. I am also assuming that by "when in an uptrend" you mean that the MA itself is sloping upwards, rather than when price is above it. This will provide a smoother signal with fewer whipsaws. inputs:price(close),length(100),upcol(green),dncol(red); vars:avg(0); avg=average(price,length); plot1(avg); if avg>=avg[1] then setplotcolor(1,upcol) else setplotcolor(1,dncol); Your indicator will need four inputs - the data to use for the average (defaults to close), the length of the average, the colour when the average is rising, and the colour when the average is falling. Hope that helps! BlueHorseshoe
  3. Flip a coin. Toss a dice. Whatever you like. Use a 938 tick chart. Or a 265 tick chart. Or whatever. Or listen to Urma Blume and use a volume chart. Or use range bars. Or a renko chart . . . Get the picture yet? THERE ARE NO MAGIC NUMBERS! Regards, BlueHorseshoe
  4. I suppose that in an ideal world, what you want to do is operate that strategy on a vast scale with insane leverage, banking your 98% gains along the way, and then have someone bail you out when the one strong adverse move comes along . . . I'm pretty sure this approach has been used fairly recently, but I can't quite think where . . . BlueHorseshoe
  5. An average is an average. It does what it says on the can. If you want to know the average of prices as displayed on your tick chart, then use an average. What's with the 233 tick chart anyway - you haven't been reading that awful Carter book, have you? BlueHorseshoe
  6. Hello, I will PM you a possible solution . . . BlueHorseshoe
  7. Hello, Do you mean that the broker doesn't allow scalping, or that you had little success, and would like to blame the broker rather than the method you employed? If you're talking about pure scalping (buy bid, sell ask), then then the interbank spot fx market is the very last place to try and do this - you can't see any information about the order book (because there isn't one), so you have no idea how many orders are queued behind you, at what rate active participants are prepared to cross the spread etc. Kind regards, BlueHorseshoe
  8. I'm lost . . . Are 'bridges' and 'mice' some sort of new derivative that I haven't yet heard of? Can I write covered calls if I think the 'bridge' has strong support? Do the 'mice' have fat tails? Need more info before I can get involved . . . BlueHorseshoe
  9. Yes, the quiz was removed. It was a quiz to help you decide what kind of animal you are: a Shark, a Bull, a Squirrel, or a pug-faced seal cub destined to be clubbed over the head and made into a nice hat . . . 'Cos that's really why you came to a TRADING FORUM, isn't it - to find out what kind of animal you were? BlueHorseshoe
  10. I did. But more importantly, I also questioned my own answer BlueHorseshoe
  11. Hi Wiz, You weren't meant to remove the image with the descriptions, just the broker hyperlink underneath! Without the image, the thread now has absolutely no point of reference; it is a signpost to nowhere, like something from Baudrillard's worst nightmares . . . Please can you restore the image? If I don't have the chart from the opening post how will I know whether to define myself as a Bull or a Shark or a Squirrel or a Smurf, or whatever those helpful classifications were? Or . . . why not just remove this whole pointless, meaningless, rambling thread? BlueHorseshoe
  12. I'm pretty sure TAMS still lurks . . . BlueHorseshoe
  13. Doesn't really make much sense either way. Do TL have an IB deal with "gomarkets" or whatever they were called? I doubt it. TL IB links generally seem to be automated, like when I type the wrod "tradestation" . . . Maybe The Wiz has "gone native"? BlueHorseshoe
  14. [ame=http://www.youtube.com/watch?v=CjQKFoUdk4g]The Wiz[/ame] BlueHorseshoe
  15. What you should be not allowing is the "gomarkets" forex broker hyperlink in the text of the original post . . . surely? BlueHorseshoe
  16. Hi Mitsubishi, Please can you post your quiz? I've a suspicion it might be quite good fun . . . BlueHorseshoe
  17. No. Daytrader = anyone who holds positions for less than a day. Scalper = trading to profit from the spread (difference between bid and ask, often a single tick in liquid markets). BlueHorseshoe
  18. Nope, it's not impossible. And it makes perfect sense. There's really no need for all that "fancy dancing" intra-day that vendors encourage. Most traders profitability would probably improve if they just sloooooooow down! There are fund managers making great returns who act on a monthly basis. Time is like leverage - it can increase your profits, but it can also increase your losses. End of day is fine. End of day works. End of day can even be relaxing BlueHorseshoe
  19. I love the fact that the 2 minute clip ends with the following dialogue: "DEAL!" BlueHorseshoe
  20. Unfortunately I can't provide this statistic . . . I didn't record it at the time, and now there is no way that I can recall the trading decisions that this particular instance of the strategy enacted, as they were random. Having said all that, I imagine that the equity curve made new highs little of the time as you suggest. Single unit equity curves, whether profitable or not, spend most of their time regressing towards a mean. New traders may struggle with this, but so do others. This thread is not posted in Trading Psychology, but . . . I have issues with this. I don't suffer from any excessive egoism. I am not someone who is obsessed with being a "winner". I trade an entirely mechanical approach with no discretionary decisions for which I am "responsible". Due to the self-learning methodology I employ, elements of the strategy are completely 'hidden' from me (I really have little idea of the specifics of what the strategy is doing, beyond the broad strokes). But I can still watch a position and end up massively frustrated. Why? What to do??? A recent post from SIUYA sums it up perfectly: In my case, I got someone else to place the trades. I pretty much ignore it all. They don't care, so they follow the radar screen I gave them. To them, it's all OPM. I don't check the account balance (different broker to TS, who I use for charting). I follow the ES and EC more closely intra-day, so I have a good idea what these are doing, but I have no idea about my likely position in timber ETFs or REITs, say - maybe I'm long, maybe I'm flat, maybe I'm short . . . maybe I'm rich, maybe I'm broke . . . . The only thing I know is that if I'm directly involved I'll sabotage it Hope that helps someone. BlueHorseshoe
  21. Hello, It was my English that was poor - not yours! "Topside" isn't really a word (except as a cut of beef!) - I should have said "to the top side of" or "above" . . . Your post answers that question anyway Thanks, BlueHorseshoe
  22. Hi Kuokam, Thanks for that - a helpful insight! Your platform does indeed appear to provide more information than does mine, although there is a possibility that I can tweak the default settings on the DOM to see at least the total bid and ask size. And I do see what you mean about the thinner depth in Crude making it easier to spot a large order (or group of orders) - you'd have thought they would have gone to at least a bit of effort to shred an order that was nearly half the resting bid! I have found the Value Area High and Low of the prior day's session to hold significance for initiating trades against, although I agree that the highs and lows are certainly what provide the context in terms of direction. If you were short, then, at the time of the first shot you have posted, would you have had increased confidence that the market would take out the 93.50 level to consume the liquidity there? If you knew you wanted to take profit a little below that level, would you have brought your buy limit topside of the 93 contract bid? Cheers, BlueHorseshoe
  23. I have to plot the executed orders separately as what is typically known as "volume delta", and don't see them on the Matrix (or not by time - I can view cumulative profile against the DOM if I wish). I assume that you don't mean that you are able to see un-executed resting stop orders? These aren't held on the exchanges servers. If you can see these via your broker, please let me know what broker you are using Kind regards, BlueHorseshoe
  24. Hi Kuokam, Some great points there, I think. Anything can and does happen, but reactions to these large orders are seldom ambivalent, and often polarized. Sometimes, they seem like a giant magnet, sucking price towards them - as though everyone is looking at a large bid and thinking "there's a nice bit of liquidity to sell into", and at other times they prove a barrier which price is clearly reluctant to test - as though everyone is looking at a large bid and thinking "it'll never sell its way through that, no point shorting". That seems like a good piece of advice. Can you explain this a little more? Do you mean you see the depth at a given price double? One issue with the ES is that the orders tend to get shredded. A greater depth is just as likely indicative of where a lot of participants want to act, as where one single participant wants to act. That's not especially problematic unless you ascribe significance to the actions of large traders rather than large groups of smaller traders (I don't). The resting orders we see are limits - how could they be stop-loss orders? I'm a bit confused by this. Thanks, BlueHorseshoe
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