JPT MOM indicator

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JPT
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JPT MOM indicator

Postby JPT » Thu May 25, 2006 5:27 pm

Hi guys:

I have been playing around with an indicator utilizing some of my father's (passed on when he was 95) indicators. He traded commodities for himself since 1946 when he started hedging zinc and silver after the war for his tool and die business.

I wanted to post this since I am having trouble turning this into a usable strategy but for a "scalp" program it looks pretty good. I am looking at ER2 3M but on most charts it seems to be OK.

I am wondering if anyone else wants to look at this and see if they can make sense of it. I am working on another set right now so out of time.

If this works as a community development project, I have over 80 more to go . I am sure some of these will not work, but who knows.

I have used Michal's countif code to indicate tops and bottoms of the sine wave, so credit Michal for that part of the code.

Enjoy.

Now if I can figure out how to attache the ELD
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michal.kreslik
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Postby michal.kreslik » Thu May 25, 2006 7:08 pm

Jim, thanks for sharing!!

I hope I will have more time in the near future to help you with coding those 80+ magic bullets :)

Should it look like this? (see attachment)

What timeframe are we talking about?
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Postby JPT » Thu May 25, 2006 10:06 pm

That is what the indicator is suppose to look like. It oscillates from overbought to oversold. I have never tried it on FOREX. I am usually looking at YM, NQ, ER at 1M or 3M for a quick scalp.

If you can go from 1.272 to 1.286 that looks like 14 pips. Is that enough for the risk???? I am not sure.

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Postby michal.kreslik » Thu May 25, 2006 10:15 pm

Jim,
in EURUSD, the smallest measure - the pip - is 0.0001, so that the move from 1.2720 to 1.2860 is 140 pips. Which is about the average daily range of this instrumenet (EURUSD).

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Postby JPT » Thu May 25, 2006 10:19 pm

Michal, how much in US $ is that?

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Postby michal.kreslik » Thu May 25, 2006 10:23 pm

It depends on how many lots do you trade. If you trade 10 lots, for example, 140 pips in EURUSD equals $14000. Let's say that those 140 pips were gross profit, so you subtract 3 pips spread for EURUSD and you are left with 137 pips net, or $13700 for 10 lots traded.

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Postby JPT » Thu May 25, 2006 10:26 pm

I guess I would say it was worth the risk. What is the margin on Forex. How many $ does it take to trade 10 lots?

Also Michal, one of the things on that indicator that I have been looking at is a upper and lower band. Ignore the oversold and overbought within that range. Only trade the large swings. Just a thought.

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Postby michal.kreslik » Thu May 25, 2006 10:34 pm

Jim, the margin starts from 0.25% in Forex, which is 1:400 leverage.

So you only need a $2500 collateral to trade 10 lots ($1 million). Of course, I would not advise anyone to employ 1:400 leverage. Personally, I am using 1:100 to 1:200.

Which is still way better than any stock or futures trader might ever imagine :D

I am a scalper, so I will focus on pure momentum.

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Postby JPT » Thu May 25, 2006 10:54 pm

Michal:

Thanks. I just looked at the EURUSD at 30 minutes. With the indicator moving from > 140 to < -140 sure looks like you could have some great scalp trades. I don't think you can trade it always in. Just when you get the high peak and it moves down then look to get out when it turns over again. I guess I am going to have to get a FOREX account somewhere.

It trades 24 hours per day doesn't it?

Oh, I changed the inputs for the before and after count to 5 and 1 respectively. Seems to get the tops and bottoms pretty well.

It is pretty late for you isn't it?

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Postby JPT » Thu May 25, 2006 10:55 pm

I will try a quick strategy and see if Grail will walk it forward for the last year. Wonder how it will do

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