Pattern Search Software

[ForexDude]

There are some things that could make this program more professional. I'm only a demo user so I don't have enough experience with it but these are common sense:

1) Trailing Stops
2) Indicators for comfirmation (ATR etc)
3) Charting

and most important intraday based backtests and pattern search (the TP and SL part)

 

[alexander]

There are some things that could make this program more professional. I'm only a demo user so I don't have enough experience with it but these are common sense:

1) Trailing Stops
2) Indicators for comfirmation (ATR etc)
3) Charting

and most important intraday based backtests and pattern search (the TP and SL part)

I think your points are good. I've been an APS user for some time now and I think charting would be of great help because I have to export the patterns in my charting program each time and this is a hassle.

I must say I'm not sure about trailing stops though. They are good if you have a single entry signal and you are trying to ride the market. With short term price patterns you are sort of hit-and-run. Anyway, that's my opinion only.

I have a good friendly relationship with one of the guys at Tradingpatterns.com and he has helped me to a lot in the beginning with my data issues etc. We exchanged a few emails a couple of weeks ago and I got the impression the company is up for sale and some investment firm will get the software for exclusive use. They will offer support for at least one more year if that happens. So based on that, I do not expect to see charting feature any soon

Alex

 

[Pat494]

As for charts I have made an expert in Metastock and the chart comes up at the click of the mouse in Metastock. A different expert is needed for each index or share. I expect I could put a trailing stop line in too quite easily if I thought it would help
I still hope someone will post about how good is using APS in realtime ?????????????

 

[alexander]

I still hope someone will post about how good is using APS in realtime ?????????????

Hi Pat, I promised before I would report on intraday results but I have been busy trading US stocks with these market swings and no time to pursue this. My question is why going through the intraday pain when you can make a lot more money with something like 6% targets/stops in US stocks using APS with daily data? You can accumulate positions based on multiple pattern signals and adjust position size like it is noted in the program help file.

Got a buy signal from APS for DJ before the buyout offer, got a signal to buy AAPL at 101 level for 6% target and the stock want up to heaven, I got signal for COST at 57 abouts and went up to 63 and then I got few more signals for that and many, many more signals for many other stocks. The combined success rate is about 71% for risk/reward of 1:1. We are talking about serious money here. Why do you want to go realtime? Am I missing something?

Alex

 

[Pat494]

Hi Pat, I promised before I would report on intraday results . The combined success rate is about 71% for risk/reward of 1:1. We are talking about serious money here. Why do you want to go realtime? Am I missing something?

Alex

Hi Alex,
Thanks for replying.
I decided years ago to do indexes rather than individual stocks thinking that there was less risk. If 1 or 2 stocks get into trouble it won't affect the whole index too much. Now that I have lots of time on my hands ( no day job ) I have been having a look at real-time trading. Some, as on the Dow 2007 thread have proved recently, do really well here. They average 50+ points per day. My problem seems to be staying awake and concentrated for the 8 hours a day. I nodded off one day last weel and my profitable position had reversed itself half an hour later.
The cost of software and a line feed from eSignal also put me off. Plus APS may not work so well real-time or it may not be possible to get the back data to make signals.
regards
Pat

 

[alexander]

My problem seems to be staying awake and concentrated for the 8 hours a day. Pat

I know what you mean Pat.

Look, last night APS gave a long signal for COST. I bought 1000 shares at the open today at 58.20. It now trades at around 59.40 and I'm closing the position for a good profit. This is like intraday trading. If you figure out a way to filter out stocks and signals you can make a bundle with APS. This is the best software I have ever used.

I have selected about 50 stocks with good fundamental and worldwide exposure and I trade those for high probability signals I get from APS. Most of the positions are closed intraday the same day and this is like day trading. I see no reason for going highly leveraged with futures. That is my opinion but I will do some tests to see what I get from APS for Dow and S&P mini contracts.

Alex

P.S. By the time I was writing this reply COST jumped to $59.65 and my market order to sell (yes, I use market orders) was filled at $59.52

 

[ronblack]

Look, last night APS gave a long signal for COST. I bought 1000 shares at the open today at 58.20. It now trades at around 59.40 and I'm closing the position for a good profit.

Nice trade Alex!

I like your idea of scanning 50 liquid stocks with good fundamentals. I have a similar setup in place. APS has helped me double my account this year and I propose organizing an APS workshop/conference some place to exchange ideas about program use. I will contact Tradingpatterns.com sometimes this week to see if they are interested in such meeting and whether they are willing to organize it. I think the expense to attend such workshop is just a fraction of the profit that can be made if APS is used the right way. It would be great to be able to exchange ideas with competent APS users.

What do you think about the workshop/conference idea?

Ron

 

[AC007]

Any goog?

 

[AC007]

hi,

I downloaded a demo version for Autochartist (www.autochartist.com) chart patterns, not candlestick patterns.

to be honest, havent used it so cant say anything, but do have a look, could be of interest.

j

edit: just had a quick look. curiosity..lol. it looks interesting actually.

Was it any goog?

 

[alexander]

Nice trade Alex!

I like your idea of scanning 50 liquid stocks with good fundamentals. I have a similar setup in place. APS has helped me double my account this year and I propose organizing an APS workshop/conference some place to exchange ideas about program use. I will contact Tradingpatterns.com sometimes this week to see if they are interested in such meeting and whether they are willing to organize it. I think the expense to attend such workshop is just a fraction of the profit that can be made if APS is used the right way. It would be great to be able to exchange ideas with competent APS users.

What do you think about the workshop/conference idea?

Ron

Good idea Ron. Let me know what they think about it.

Alex

 

[ronblack]

Good idea Ron. Let me know what they think about it.

Alex

Hi Alex,

I just got an email from Tradingpatterns about a very interesting article by Michael Harris on QQQQ patterns. In case you didn't get the link, here you go:

http://www.tradingpatterns.com/About_Us/articles/article3/article3.html

Very interesting indeed. I will be working on a system for QQQQs using delay patterns in the next few days. I think you should look into that too.

Ron

 

[alexander]

I will be working on a system for QQQQs using delay patterns in the next few days. I think you should look into that too. Ron

Thanks Ron. I''am trading the QQQQ system already with success and I have developed a few more using my own targets/stops. I'm also working on several other trading systems for liquid ETFs based on the patterns I get from APS. This is the way to go!

Alex

 

[jezgw]

liquid stocks

Hello,

What is the best way of discovering the best (most liquid) stocks in an exchange. I notice that a favoured strategy for most software is to use it on such stocks.

Thanks

 

[alexander]

Hello,

What is the best way of discovering the best (most liquid) stocks in an exchange. I notice that a favoured strategy for most software is to use it on such stocks.

Thanks

I look at bid/ask spreads and volume. Tight spreads and high volume mean high liquidity. large spreads with low volume mean illiquid market. Check this:

http://www.investopedia.com/ask/answers/138.asp

With APS Automatic Pattern Search I prefer to scan stocks with spreads up to 4 cents maximum and with a daily volume of at least 100K shares. I get often signals for CHK, PPL, DHR and these stocks as an example trade (NYSE) with 1 cent bid/ask spread. Others, like XRAY, SIAL and COST (NASDAQ) have usually 2 cents spread.

Alex

 

[jezgw]

list

Thanks, is there anywhere on the web that measures, lists and possibly ranks these stocks?
Should be!

 

[ronblack]

Thanks Ron. I''am trading the QQQQ system already with success and I have developed a few more using my own targets/stops. I'm also working on several other trading systems for liquid ETFs based on the patterns I get from APS. This is the way to go!

Alex

Alex,

I trade a system for SPY with delay patterns, mainly. I use the system tracking function to generate the signals because it is much easier that way. I'm also looking at some other ETFs at the moment, primarily EEM and XLE.

Ron

 

[alexander]

Alex,

I trade a system for SPY with delay patterns, mainly. I use the system tracking function to generate the signals because it is much easier that way. I'm also looking at some other ETFs at the moment, primarily EEM and XLE.

Ron

Hi Ron, I got 38 patterns for SPY doing only a regular search. Today I will put APS to do an extended search for more patterns.

I now have the program running on a superfast PC and I plan to ask Tradingpatterns.com for another copy so I can get it running a another PC too. MY next project is to try to automate pattern scanning for 30 minute forex bars. I think it can be done.

Cheers --- Alex

 

[matifx]

Hello APS users!

Has anyone tried to run v4.8 on a dual core Vista 32 bit machine?

Thanks

 

[Pat494]

Hello APS users!

Has anyone tried to run v4.8 on a dual core Vista 32 bit machine?

Thanks

see other thread but in a word yes !

 

[matifx]

see other thread but in a word yes !

Many thanks Pat