Strategy Based On Chart Pattern

trading strategies and money management discussion, code, results

Moderator: moderators

fatdog1
rank: 150+ posts
rank: 150+ posts
Posts: 164
Joined: Thu May 18, 2006 11:58 am
Reputation: 0
Gender: Male
Contact:

Postby fatdog1 » Mon Jul 03, 2006 4:07 pm

Ali Son wrote:BTw, people who do fully automated trading successfull still do stay in fron the computer, believe it or not, to make sthings don't blow up! :lol: :?

-OS


I agree. I would like to be able to walk away, sleep, eat, paint, ect. and still get in a trade when the conditions are right.

I have been watching the Russell now.
Russell is almost past the resistance area starting at 733.
It is having a hard time. That is what I like to see.
It will be strong support when the Russell finally breaks past it and hits 740 and pulls back.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

fatdog1
rank: 150+ posts
rank: 150+ posts
Posts: 164
Joined: Thu May 18, 2006 11:58 am
Reputation: 0
Gender: Male
Contact:

Postby fatdog1 » Mon Jul 03, 2006 11:19 pm

Ali Son wrote:Talk to you later then---enjoy the 4th tomorrow!

Afterwards, when you are back online, perhaps you can tell me how do you find the futures currency contracts? What are the risk/rewards, outside of your unfortunate experience with bankruptcy of your forex company/account, compared with Forex?

Until next time, then, stay away from too many burgers and dogs!

-OPTIONSWINGS


Ali,

The currency futures market is less liquid than the forex market.
I can and do get volume information but I have to pay for the data feed.
The initial margin on the Euro is almost 3K to leverage 125K compared to the 1K I use to post in margin to leverage 100K in spot forex.
I pay a $5.00 round trip commission, exchange fees, and I pay for CME Globex data feed monthly because I trade at night.
I also trade the 30 year bond as part of that data feed.
There is no below 250.00 floor and they stop trading in your account in the futures market. You can get margin calls if you don't use stops and there can be slippage on your stops.
Your account is segreated and covered by NFA/CTFC and no way does your broker get to steal it.

Ali Son
rank: 150+ posts
rank: 150+ posts
Posts: 179
Joined: Sun May 28, 2006 1:30 am
Reputation: 0
Location: Boston, MA
Gender: None specified

Postby Ali Son » Wed Jul 05, 2006 12:21 am

So, what does this translate to in terms of profit differential per contract?

fatdog1
rank: 150+ posts
rank: 150+ posts
Posts: 164
Joined: Thu May 18, 2006 11:58 am
Reputation: 0
Gender: Male
Contact:

Postby fatdog1 » Wed Jul 05, 2006 12:33 am

Ali Son wrote:So, what does this translate to in terms of profit differential per contract?


Ali,

Each point is 12.50 for Euro. Large Euro forex contract is 10.00 per pip.
The British Pound is 6.25 since each contract is only for 62,500.

fatdog1
rank: 150+ posts
rank: 150+ posts
Posts: 164
Joined: Thu May 18, 2006 11:58 am
Reputation: 0
Gender: Male
Contact:

Postby fatdog1 » Wed Jul 05, 2006 12:41 am

Hey Ali,
Can you code this?
I want a yellow horizontal trendline to plot after 2 touches on the bottom and top of a trading range.


Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Ali Son
rank: 150+ posts
rank: 150+ posts
Posts: 179
Joined: Sun May 28, 2006 1:30 am
Reputation: 0
Location: Boston, MA
Gender: None specified

Postby Ali Son » Wed Jul 05, 2006 10:11 pm

Fatdog1, I see what you are trying to do.

How come the trading zone isn't being delimited by a Darvas box, as with the other blue boxes on the left. That's the best way to define your trading zone, right?

Otherwise, I don't think it'll be difficult to do.

fatdog1
rank: 150+ posts
rank: 150+ posts
Posts: 164
Joined: Thu May 18, 2006 11:58 am
Reputation: 0
Gender: Male
Contact:

Postby fatdog1 » Thu Jul 06, 2006 1:16 am

Ali Son wrote:Fatdog1, I see what you are trying to do.

How come the trading zone isn't being delimited by a Darvas box, as with the other blue boxes on the left. That's the best way to define your trading zone, right?

Otherwise, I don't think it'll be difficult to do.


The 60 minute chart of the EURUSD does not have the DarvasBox indicator or strategy on it. I use the DarvasBox on 5 and 1 minute charts.

Tradestation has several drawing objects. Those are rectangles.
Here is the full screen shot which is hard to see as an example.



This is Stan Weinstein 4 stages related.
I want the yellow line to plot after 2 touches to establish a trading range bottom and a trading range top.

A break down below the yellow line is a shorting opportunity.
The areas in the rectangles are targets on any short trade.

fatdog1
rank: 150+ posts
rank: 150+ posts
Posts: 164
Joined: Thu May 18, 2006 11:58 am
Reputation: 0
Gender: Male
Contact:

Postby fatdog1 » Thu Jul 06, 2006 10:28 am

Someone I trade with found a trendline strategy from Tradestation's website.

It is a T_L entry, T_L stop loss and T_L profit target based on colors.

I have attached the eld and a workspace.

The white line is for T_L entry,
the green line is for T_L stop loss, and
the yellow line is for T_L profit target.

I am going to try it today for a long trade on the mini dow.
It might be what I am looking for.
Set it and forget it.

It would be better if it could be made to enter the long trade with a buy stop after the price enters the buy zone and reverses higher.
I guess it is going to enter with a limit order once the price touches the
trendline from what the screen shot says.

Attachments
2003115145942_TLCOLLECTION.ELD
(12.67 KiB) Downloaded 47 times
@YM Trade Workspace 7-6-06.tsw
(32 KiB) Downloaded 35 times

Ali Son
rank: 150+ posts
rank: 150+ posts
Posts: 179
Joined: Sun May 28, 2006 1:30 am
Reputation: 0
Location: Boston, MA
Gender: None specified

Postby Ali Son » Thu Jul 06, 2006 10:58 am

Great! Let me (us) know if it works for you and is indeed that for which you are looking. Glad your friend was able to dig up what you were looking for in the archives.

Have a good day.

-OS
Last edited by Ali Son on Thu Jul 06, 2006 12:55 pm, edited 2 times in total.

Ali Son
rank: 150+ posts
rank: 150+ posts
Posts: 179
Joined: Sun May 28, 2006 1:30 am
Reputation: 0
Location: Boston, MA
Gender: None specified

Postby Ali Son » Thu Jul 06, 2006 11:03 am

Keep up the good work....the system that you are looking for will eventually surface.
Last edited by Ali Son on Thu Jul 06, 2006 12:49 pm, edited 1 time in total.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “strategy trading & money management”