Intraday Trading the Forex market to make consistent profit

[Forexmospherian]

Hi F:

If I can program it, then I understand it. That's why I code indicators - to help me really understand the method.

Of course, somethings can not be coded but the indicators can do most of the heavy lifting so the trader can be free to focus on the critical aspects.

The more you post about what you do, the more I can refine the code.

So far, I like what I see. Seems like the ADR and ATR are down from years ago but still large enough for my other methods to still work.

Hopefully, the HATERS will leave us both alone and we can have a civil discourse on our threads.

Cheers mate!

Morning TRO

No problem - if you can code it you are welcome to - and I will assist you with as much info as possible - and then as you say - this then allows time for a trader to focus more on the other critical aspects.

I have read years ago about Elena Ambrosiadou the head of the Ikos Hedge fund who with her ex husband - a maths professor had put together an automated system back in the 90's that basically churned out 25% compounded returns per annum in the currency market. She was an engineer and they met at Cambridge Univerisity - formed a business relationship and then went on churning out millions and millions up to about 2009 - when the separated and went their own way.

I am sure many have always thought a $99 or $199 bot could do the same - but it had taken years and loads of investment in the automated system to fine tune it and make it work at a proper level.

Over the last 4 years I have been approached by different programmers with similar ideas - but when they realise how complex the system is - I think they give up. In my world - simple does not work at the level I require - otherwise every other programmer and trader in the world would be super rich - lol

I will only carry on another 3 - 4 yrs maximum - due to my age - so its not as though i am really bothered what happens to it over the next 5 - 10 years . All what might be needed is changing the times of the time windows as that is a present weakness of the Currency Market and its a wonder a few liquidity providers have not got round to doing this ;-)

OK - will give you some more specific examples - so that you can pick up more - starting with my favourite for this last week

ie catching the EU top at 3993 at 1.39pm UK time Thursday 8th May

Explanation and chart to follow

Regards


F

 

[Forexmospherian]

EU chart - 1 min on Thursday 8th May 2014 - at the top - 3993

Hi TRO

I will go through this chart a bit later on - today for me is a "my day" with just relaxation watching F1 from Spain and the Footie - along with walking the dog through the woods whilst the wife goes shopping ;-)

Will have a couple of hrs over the day to explain in more detail

Meanwhile on the other Intraday "live" thread - just put a match to a fire to "wind up" more of the haters.

I am just as bad as them really - but its good fun and one of my new year resolutions for 2014 was - brag more - rofl

Enjoy your weekend

Regards


F

 

[NVP]

some interesting comments guys ...........if it can be coded then TRO is the man to do it !

i'm not a big EA or uber-programming fan .........but it is true that trying to programme something brings a lot of clarity to the trader in refining their system

it demands that absolutely every element has to be identified and coded ...........everything ...............which means all those gaps and grey areas that many many traders simple ignore ........have to be coded

I have been lucky enough to work with some epic programmers ove the years and still havnt really achieved what I wanted re my strengthmeters ..........and its not their fault ........its my demand that the rules adapt based on the changing market conditions .....

and also the fact that in truth I dont have all the answers ........who does ?

N

 

[Forexmospherian]

some interesting comments guys ...........if it can be coded then TRO is the man to do it !

i'm not a big EA or uber-programming fan .........but it is true that trying to programme something brings a lot of clarity to the trader in refining their system

it demands that absolutely every element has to be identified and coded ...........everything ...............which means all those gaps and grey areas that many many traders simple ignore ........have to be coded

I have been lucky enough to work with some epic programmers ove the years and still havnt really achieved what I wanted re my strengthmeters ..........and its not their fault ........its my demand that the rules adapt based on the changing market conditions .....

and also the fact that in truth I dont have all the answers ........who does ?

N

Morning N

Personally - i think the highest probability of winning a suitable trade - based on thousands of trades over years and years - is somewhere between 70 and 85%.

We all know - 100% win rate - is unattainable over the long run ( OK if you take 1 trade a year - you might keep it up 10 years lol) but there is a trade off between having losses and making more money

As the saying goes - "you have to be in it - to win it" - so you do have to speculate to accumulate - but at what level - twice a day - or 50 times a day ???

The market is dynamic - traders need to be - if that means fine tuning 5 times a year or just once a year - then you accept the change.

I have always be keen to find the right "trade off" formula - between win ratios - RR's - stop sizes and targets - and after years of research - I feel I am getting closer every few months - money is my only real true indicator - ie if success is earning 10K off 50k per year - I dont want to know - but when I know you can earn $200k+ off 50K - I am interested.

However - I smart enough to know this will not roll out with millions - its a total different ballgame - compounding can be the ruination of so many retail traders - as they cannot handle seeing big losses on their own hard earned cash.

I know TRO has the experience and knowledge etc - loves his simplicity etc - and therefore this will be interesting to see how it can progress.

Might even be able to get a Forex Strengthmeter in there somewhere - because for me the more good clues I have the more I have confidence in taking the AAA+++ trades - and then - as you know N - once you lock in your stop in profits - there's no stress or emotion on free rides

Enjoy your weekend

Regards


F

 

[NVP]

Will do ..............ive now been told i'm going to a eurovision party........god help us..........I only remember Cliff and ABBA

hahahah
N

 

[Splitlink]

Will do ..............ive now been told i'm going to a eurovision party........god help us..........I only remember Cliff and ABBA

hahahah
N

Sandy Shaw, no? But I never listen to it, nowadays.

 

[TheRumpledOne]

So F, you like F1? We share another common interest!

I went to the Grand Prix of Monaco a few years ago. My good friend, Michal Kreslik, is based there.

 

[Forexmospherian]

So F, you like F1? We share another common interest!

I went to the Grand Prix of Monaco a few years ago. My good friend, Michal Kreslik, is based there.

Hi Tro

Yes - done Monaco 4 times in last 20 yrs and love the place - and not just for the Grand Prix weekend. In fact traveled to a few circuits in Europe and been watching the UK F1 Grand Prix's for over 25 yrs - and even done a bit of circuit racing myself - but only on an amateur basis. The only one I was fortunate to watch years ago in the US was at Long Beach- but down on my bucket list is too see Indy racing at the Indianapolis 500 at some time in the future,

Will go through that the EU trades on Thursday 8th in a bit more detail tomorrow so you can pick up more detail on my style and all these "clues" I am looking for before pressing the button

Regards


F

 

[Forexmospherian]

3 Day view of EU showing top at 3993

This a one of my lagging long term charts - ie a 4 min

I would have much preferred to have shown a 3 day view on a 1 min chart - but could not catch the 3 days.

For me a 1 hr or 4 hr of daily - are just for the big picture - to check other levels and see a world map view - but to catch intraday pips - the "devils in the detail" - after all a 16 pip move is a RR of 3 with a 5 pip stop- and in those 3 days - there are loads of them and so they are much more profitable that one trade with a 100 pip stop waiting for 300 pips.

Remember I am just after money with small risk - not just big pip numbers if they need big stops .

Can i place 5 or 10 lots on a 15 -30 min scalp with a 5 pips stop - YES

Would I put 5 or 10 lots on a trade with a 100 pip stop - NO WAY - unless I was playing with a massive capital account of probably over half a million - and i dont know many retail traders with half million plus capital accounts

OK onto the action

I have shown the top in detail on the other 1 min chart

On this chart featuring 3 days - I scalp bought - and scalp sold - every day

For me a trend is any movement over 3+ pips. I dont want to chase 3 pip moves - I prefer chasing 7 -25 + pip moves - there's lots of them - but because I am not a fortune teller - I dont know whether the move will be 9 pips - 19 pips - 90 pips or even 900+ pips.

But with clever Money Management - you can catch moves of any size

My 3 main Long term LR's over the 3 days have shown the down move starting after 2pm on Thursday 8th of May

For scalping on I need the tick and 1 min chart and use my other 6 quicker LR's to catch the moves - along with

1. My own time windows - 9 min either side hr change and 30 min change

2. PA - sometimes believe me- it can be quicker to use time and LRs than PA - other times PA and a simple HH and HL over 5 mins can be a big clue

3. Trendlines - ray lines for dynamic S & R 'S

4. Interim and main S & R's - based on past and present

5. News- gameplay - False sentiment - stop hunting - the great tricks use by players

6 .Previous 10 - 30 mins action - is it false or really going to continue

7. Bouncy ball effects

8 Time of session - some hrs are far more important than other hrs

Hope this helps TRO - please feel free to ask the specifics you need also to know

Around later

Regards


F

 

[TheRumpledOne]

Hi Tro

Yes - done Monaco 4 times in last 20 yrs and love the place - and not just for the Grand Prix weekend. In fact traveled to a few circuits in Europe and been watching the UK F1 Grand Prix's for over 25 yrs - and even done a bit of circuit racing myself - but only on an amateur basis. The only one I was fortunate to watch years ago in the US was at Long Beach- but down on my bucket list is too see Indy racing at the Indianapolis 500 at some time in the future,

Will go through that the EU trades on Thursday 8th in a bit more detail tomorrow so you can pick up more detail on my style and all these "clues" I am looking for before pressing the button

Regards


F

I have been to Indy 500 about 8 times. Was there the first time they cracked 200 MPH. There is NOTHING ELSE LIKE THE INDY 500! Have been to many tracks around the USA for Indy cars and NASCAR. Nothing compares to the INDY 500.

If you love auto racing, you must go ASAP!!

 

[TheRumpledOne]

Hey F:

For some reason none of my browsers will open the chart you posted. Would you please email the chart to my gmail account.

Thanks

 

[NVP]

hey F ............me too .............the charts are not showing up or opening at t2W

its ok on other threads

N

 

[Forexmospherian]

2 charts covering EU

See if you can open these two now Tro

 

[sunZy]

What does the arrows mean? That you did trades there?

 

[lexcorp]

Arrows represent, 'Tar's' trades...

 

[TheRumpledOne]

See if you can open these two now Tro

Yes, I can. Thanks F.

 

[TheRumpledOne]

See if you can open these two now Tro

Yes, I can. Thanks F.

Now, are your indicator setting a "secret"? If not, I would like to see if I can make my charts look like yours. This is how I learn a system by coding it. I can't code what I don't understand.

 

[Yorkshire Terrier]

Yes, I can. Thanks F.

Now, are your indicator setting a "secret"? If not, I would like to see if I can make my charts look like yours. This is how I learn a system by coding it. I can't code what I don't understand.

Hi Tro

Here's a thread F has started on the LR's he uses you will fined the settings on post 14.
http://www.trade2win.com/boards/tec...near-regression-indicator-over-8-years-2.html

Hope this helps

YT.

 

[Forexmospherian]

Hi Tro

Here's a thread F has started on the LR's he uses you will fined the settings on post 14.
http://www.trade2win.com/boards/tec...near-regression-indicator-over-8-years-2.html

Hope this helps

YT.

Thanks YT

Forgot all about that thread

Will have to keep it updated as fine tune some settings every 2 -3 months depending on new PA and all these new Robot time settings

Hope that helps TRO - and any questions - please fire away


Regards


F

 

[TheRumpledOne]

Hi Tro

Here's a thread F has started on the LR's he uses you will fined the settings on post 14.
http://www.trade2win.com/boards/tec...near-regression-indicator-over-8-years-2.html

Hope this helps

YT.

Thanks