bakrob99

I use the following website for back O H L C data Daily Notes Archive It has the data for all the contracts going back for quite a while.

I use the following: Daily Notes Archive It has all the contracts going back for quite a while.

Use Google to Search for "Efficient Market Theory"

Use Google to search "Efficient Market Theory"

Thank Robotman. Many times when I look at the actual fills that are included as part of a system, they are fills that never seem to happen for me in real time. The low of a bar or the High of a bar are not places that many of us get to trade. Good luck with your trading.

Nice look and feel. Good job.

The simulator is a real time feed which matches the market tick for tick. Fills are not intended to be "realistic" but are filled if the price is hit. It is useful for checking autotraded strategies and debugging code. You can also determine if the market traded through your price and enter. One thing is: TS has an option to enter at Market if your price is hit on a limit order after xxx seconds.... so you can alwyas get filled but maybe not at your desired price. This is useful for me for EXITS but not entries. Trading is tough enough without trying to make software work through API's etc... I would not go that route.

I am sorry. I thought you already had TS and were soliciting opinions. My mistake. I think you will find that many TS users trade stock quite successfully using TS. I personally trade the ES everyday and I have no problem with data or slippage. I do not trade stocks but in my attendance at the TS forum leads me to believe that many traders do trade stocks and ETF's, some fully automated and some on a semi or discretionary basis. The TS forum is huge by the way and completely available for the past many years for searches etc. It contains many links and useful strategies and assiatnce is available both from users and TS support staff. I have used other platforms for trading (like Infinity AT dome) and they are all good. They might be slightly faster to execute but my strategies uses either Stop Limit or Limit orders for entries so it doesn't concern me. If I get stopped out, I rarely have slippage on TS except in very fast markets.

I am left wondering why you don't go to the TradeStation Users Forum where you will find many people trading stocks who can offer the best advice available. It is and should be your #1 resource for these type of questions/answers.

You're not really living up to your name with that admission.

I think of Price action as the movement of the transactions shown on Time and Sales. This can be displayed on charts using bars of various intervals, ticks, volume, ranges whatever... But the price movement on tape and the recoirding of it are two different things for me. Your point about Brooks NOT waiting for a close to enter is quite correct. But he does wait for the prior bar's close before placing his Stop entry. That is what I was referring to. Good trading.

Guys and Gals - please remember the title of the book. READING PRICE CHARTS BAR BY BAR. Nowhere is it PRICE ACTION. Brook's point is the bar (and the combinations of them) contain all you need to know.

Well, Isn't Brook's system based on it? Of course it is. Each bar is a "trend" according to his book and a breakout or breakdown of that "trend" is used to determine entries.

I disagree with this. When you realize that you are trading against other traders, many of whom have selected the same "arbitrary" 5minute bar, you realize that it is the failure of the breakout or breakdown in that 5 minute context that creates the signals. Any reduction in time is really trading some other "system" which has to be validated for other non-Brooks reasons. In fact, I felt the best part of the Brook's book was his discussion of what makes a market, and how trapped traders create your winning position. watch for failures which result in trades going in the direction which agrees with your market analysis. That is the key for selecting the correct trades. And to do this you must wait for 5 minutes to elapse, or run the risk of taking an entry which proves to be an error when the price action reverses on you in the opposite direction.

I installed it this morning without a hitch running XP-PRO SP3

There is an easier and faster way to do it which will also work on all timeframes and styles of charts. See: JAM - TradeStation EasyLanguage Indicator Utility Free Bakrob

I agree. Trade Size is his belief rather than try for a lot of points. And it makes sense for those who have the capacity/stomach to trade size. Regarding letting a position swing - he does not profess to know when a move will work. He lets the market determine it by moving his stop to break even and letting a portion run. He is against trying to "cherry pick" trades. He states many times that doing that - you will inevitably pick more bad cherries than good ones.

Scourt - welcome to the Forum. I actually agree with you and have posted my concern about the R:R in this thread before. ( I believe that Brooks trades this way because he trades a large number of contracts so getting 1 point actually makes him some serious dough which it won't do for 2 lot traders) Frankly, I would prefer the type of S/R trading that you show in the chart as the Stop is small and the potential target is known, and larger than the risk. Do you take trades in these ranges fading the extremes?

Sadly, I find that the BEST trades are the ones that have doubt attached to them.

I am sure he means his Money Management stop. (ie trailing his stop up after netting 4 ticks)

Thanks Richard and SwansJr. That answers my question.

Thanks for your thoughts/analysis, but I am actually interested if ANYONE at TL has tried it out or knows any facts about the system.

Brooks specifically discusses this. He says it's not possible to select and be a winner as you will pick more bad cherries than good ones. Also - that is why he trades the 5M chart ... it has fewer trades on it, so less chance of overtrading. Finally, implicit in his method is to trade LARGE size and after you're up your goal STOP trading. His pint is - it's better/easier to get 1 point with 100 contracts and make $5000 than it is to tray to make $5000 getting 10 points with 10 contracts.

Thanks but I am familiar with ORB system and Crabel, but do you have specific knowledge about the DayTradeToWin system or have you made your conclusions on some other basis? The reason why I ask, is because I have heard him say that the price for entry is known befor ethe opening bell which rules out any ORB type system unless he is using the ORB as a confirming indicator to a pre-market entry price.

I believe it's okay if you are far enough from the EMA AND you have a Bull or Bear bar form. I just remember somewhere he has said that he wouldn't take some #-trades without there being a TL break, especially in strong trending markets.