I'm going to start this journal as a sort of offspring to "Something Very Simplistic" (SVS). The general goals are the same - something simple, unsubjective, and profitable. I think this qualifies as simple as far as executing the plan, but it may not be simple in terms of getting the information needed. This will require constant tick based charts - there are a few package out there that support that - but QCharts is not one of them. The method is bascially the same as "SVS" - entry timing based on one chart, direction of entry decided by stochastics in another. The first chart is 272 tick (272T) with a 17,1,17 stochastics on it. The second chart is 2,176 tick (2176T) that is used for timing enties. Enter at the open of each 2176T bar, in the direction of the 272T stochastic, %D>%K short, %K>%D, long, just like "SVS". Exit limit +1, stop limit -1.25, just like "SVS" - EXCEPT - NO REVERSAL. Do not reverse on the stop, just take the -1.25. For ES, there will normally be around 40 or so 2176T bars per day. During the busy times of the day, a new bar is created about every 6 minutes or so - during lunch, they come out about every 13 minutes. Of course, that is all dependent on trade volume. I'm paper tading it today - didn't trade the first 9 2176T bars. Since, there have been 24 trades, 20 winners and 4 losers for +15 points ES. I'll work on getting the results posted over the weekend and in a format similar to "SVS".
What was the basis of your decision to use 2176 and 272 ticks? Any particular reason why you've decided not to implement reversals anymore? I must admit, your methods are fascinating in its simplicity yet unconventional in its thinking. DraXon
For ES: Trades: 44 Winners: 34 Losers: 10 Net Points: +21.50 / $1075/contract Commish: $211.20 Net Profit/Loss: $863.80 I need to run - will answer above questions later on.
ES: 8 trades (4 times 2 contracts), 41 pts, all winners. I used to shoot just like you. Got tired... I am now testing a cooler approach. Also paper traded only, but with a decent margin for slippage, could have scored more points if held longer.
Quah, I like the fact that this one automatically trades more on higher volume days. Have you thought of tying something in to make it trade more actively in higher volatility markets? Not sure what indicator you would use (vix maybe), but that would be a justified addition wouldn't it?
Thanks to whoever posted the esignal fib bar indicator but I have another request. Is it possible to have the bars/candles change color like Quah has his setup when the stochs are above/below? Also it would be great to be able to use the fib bar counter on any time frame not just the 1 min. I am using the new 7.1 version. Thx
the tick charts will take care of volume... maybe volatility could define the profit target and stop loss?? maybe like define volatility by the average bar range of last x bars or something.. (i don't know..don't listen to me)