919gilead » Sat Jan 16, 2016 4:35 pm wrote:
Hey HK,
Glad to know you're not too far from here
Unfortunately we cannot get everything we want in one dashboard. This dashboard like Rene explained is simple, specific and very focused.
I will like to keep things simple and concentrate on trading with this dashboard and the accompanying EA to be released after testing, so we can see how it performs for the rest of the month and possibly February. I expect it to do exactly what it is meant to do and we have seen few confirmations from some traders here and I have had some great trade calls too. I will rest over this week end and start to trade live from Monday and start measuring our performance from then to the end of February before reevaluating the result.
The dashboard will only be useful to traders with similar vision and you are free to adapt and develop the price action season pattern. I don't trade seasonal patterns but strength and weakness, which will always be present in any season. I have been working on this project for about 5 years or more and what was missing to put it to real test was a "Rene." And now that he has given us the dashboard and an EA in the works, I want to rest from my labour and start reaping the fruits
A great and refreshing week end to all
Shalom
Hi George,
I give ideas and suggestions and don't expect you to spend time on explaining why it can't be done. It is not worth it unless you find value in doing so. Please just focus on your creative work and if you ignore me I will not feel offended. On the contrary I will feel happy about your dedication.
I am using your forum to put across ideas to you and all other readers. The ideas that come naturally to me as a result of me undertaking long real-trading journey with the hope that someone finds them interesting.
In fact, I would be happy to mentor any serious person who is quite familiar with spot fx trading, knows how to handle VBA/Excel PLUS any of programming language like R, Matlab, Python, C++ or Jave; and wants to be a trader, algo writer and quant analyst without me expecting anything in return except discipline and dedication on their part to succeed. The hands-on education imparted will be worth a US$150,000 if some-one were to go to university for at least two years and acquire this ACADEMIC knowledge. Another two years for actually learning how to trade.
All this for free.
I am 67 but I started my Personal PC journey in 1983 and love with Internet and web in 1992. I am quite fond of graphical visualisation. MAdash's part which I liked most and I use for scalping or short-term trading is the graph bars section.
I firmly believe only averages, however lagging they may be, can help a self-directed retail trader like me having limited resources at his disposal. After all, almost all TA indicators are designed with average as the mother.
Scalping, swing and Day Trading tactics
When Japan hours start, I determine whether it is going to trend today or not? Sense of history and experience/intution developed as a result of real-time trading and chart-watching play a major part in deciding this. I use ADR as support and resistance lines and entry/exhaustion points.
For timing purpose, I look at MADash and ascertain which currency group is red and which one is in green and then see the pips score card of individual pairs in both groups.
For me the first fortnight of trading starts from 1st of the month and the second from the 15th. Each fortnight provides a stage for select currency pairs to perform (trend, range-trade, reverse,retrace or breakout) and once the second fortnight starts, the same currency pairs go to sleep (consolidation) or reverse . Sets of other currency pairs become active.
Similar on and off side-shows of currency pairs go on every day. If major pairs are consolidating, the market can't sleep and make the investors/speculators/traders lose interest.
If that happens, what will happen to the business operations of so many fx retail brokers and major market makers? Nothing. Market makers are bound to generate business for all of them.
Yes , major Market makers have reared a money milk-producing cow in a country which has smaller economy, one-person controls Central Bank that can fix interest rates on considerations other then controlling or inducing inflation, and the currency counts among the world's major eight.
Kiwi generates good overnight interest income for the retail fx brokers. When things go out of hand, the currency can shoot out spikes without any trigger-like situation, bring back order to the market, and generate business for brokers as well as the market makers.
Fx market is never short of excitement and money-making opportunities for those who understand these games and learn to deal with them rather than shying away from it.
Watching currency pairs take rest, waking up and then jogging is quite fascinating. It is like watching a circus or different instruments being used in an orchestra.
I am glad you are trying to figure out who is pulling the strings for the pairs to act like this. For me, MA distance, MA cross-overs, RSI, Bollinger Bands and similar average indicators are the only means I possess and some-how I have to use them and make money.
On a daily basis when market opens for Japan session, I watch for seeds (bars) sprouting in 1 m and greening baby in 5 minute and then decide whether it is going to turn a microgreen in 15 or 30 minutes or in 1 hour and accordingly I select the strongest and weakest pair to trade.
The bar graphs really help me in seeing the sprouts and acting on it. I push the buttons hoping
at least 8 to 9 times I net 10 pips in 15-30 minute trading (20 pips stop-loss) and 30 pips (50 pips stop-loss) in 4 hours time.
I am somehow fond of moving graphs. If I can see a bar graph or Arrow slowly growing from 1 minutes to 15 minutes my brain registers it and pushes me to act upon it. Otherwise looking at stationary Arrows doesn't really enthuses me. For the same reasons I like MTF advanced multi-pair ADR chart and PsyLevels (pics attached).
If Stratman's kind of sub- windows (which I have seen you using) are put in one place or an indicator is made which can print horizontal lines on the charts or at least on the selected pair's individual chart based on seconds or ticks of strong and weak currencies moving it will give a better visual aide for scalp traders. A line chart in a separate window with MA working on the ticks as well will also be useful.
I think these ideas can be used for EA too. Averages of amplitudes, speed, velocity of ticks in deciding entry and exit points. A lot of work has been done in the past on these aspects of trading but not many coders/traders have done sustained work. They were good coders but lacked real trading experience or help to figure out how to put them to real use.
FF or TSD provided them space for expressing trading ideas and creating indicators but the problem was they simply did not have money to put to use.
On FF and FTSD a number of coders and algo writers have put out brilliant solutions based on the ideas floated by dream merchants, wannabe quants and traders (very few real traders) and exiting with a lot of frustration. Had they been guided by a real trader who understands both trading and coding processe, they would have produced wonderful indicators.
Largely, coders have to blame themselves for not showing patience. Majority of coders have inflated views about their algo writing skills and the ability to hit lotteries without ever realising that trading is a very serious but lucrative business which can really get them economic freedom. They start with a lot of fantasies and start their own blogs without having no idea about how costly it is to run a sales campaign on the web and establish the online business brand.
If they exercise patience to learn strategies, practice paper trading and then code (altogether for a period of at least 3 years) they would be ideal $80,000 + salaried candidates or proprietory traders for hedging firms.
Instead of using forums for education, finding real traders as mentors, the forums have been treated as outlets for undertaking ego trips, stealing ideas to code indicators and attempting to sell on the web without ever realizing how tough it is to sell anything on the web, and in the process lose confidence in their own abilities to code or trade or work in any job. I feel sorry for them.
PATIENCE, LEARNING AND TRADING (REAL or DUMMY) HAVE TO GO TOGETHER IF ANYONE WANTS TO BE A PRODUCTIVE CODER OR A TRADER OR BOTH.
A TRADER WHO HAS GOOD AMOUNT OF MONEY RESOURCES WILL BENEFIT BY BUILDING WEALTH. A CODER WITH MEAGRE MONEY RESOURCES WILL ALSO BENEFIT BY FINDING JOBS WITH FINANCE SUPPLIERS.
Shalom!
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