Recent content by jimioddy

I’ll tell you my philosophy very simply: The price movement in any one day is completely random i.e. you cannot even guess where the price will go. At the end of the day you can invent a ‘trader myth’ to describe the forces that produced the result you now see. This is of no value regarding...

There needs to be some benefit, some compelling reason, some motivation to meet up. What is it?

Hi I would be interested in meeting like-minded traders in Manchester. I trade the FTSE & Forex using ‘Automated Trading Systems’, which I wrote in C# for use with FXCM’s ‘Strategy Trader’. I’ve developed trend-following and counter-trend strategies on 1 minute charts. James

The price is moving sideways in a tight band. Looking at the chart I see a downward bias, but my rule-based system favours an upward direction. I'll go with that. Statistically it gets it right more often than I do.

The price has bounced off this area several times since the start of February. Right now its still going sideways. Guess I'll wait. Which could of course erode half of the potential gain.

Hi Barjon I hope this thread is not dying, where else can we find genuinely enthusiastic, experienced and knowledgeable FTSE traders to share their ideas? (I didn't say successful). There are a few services on offer, but are their opinions any better? They say so, but ... Anyway, today, I...

No, it's FXCM's 'Strategy Trader'. It seems that their intention is to stop supporting the platform and replace it with MT4. Sad.

My prediction was correct! i.e. the price went in the oppostie direction to what I predicted. I'm nothing is not consistent. I'm now short and very pleased, thank you. Why am I short? Because the last Zigzag box had a net movement of 8 points.

Someone asked me, I think Martin or Split, if my '(simple) automated rule-based system' worked better on certain days of the week. The answer is No. I looked at the 'day of the week' analysis of profits and losses by quarter for 2011 & 2012. (The system makes several trades per day). It would...

Please forgive me for posting this chart because I’ve always thought that Fibonacci is so much stuff and nonsense. But I’ll never close my mind to something that might make me money. Today I made 8 points, which is better than a loss. I wanted to predict a price of 5940 but chickened out when it...

The price tried the 5989 level three times and failed. It then broke below 5970, will there be any appetite to push it above?

Dick Lexic It's a trend follower i.e. it makes profits when the price trends and losses when the price goes sideways. If only one could tell, but you cannot, it's logically impossible. So you take profits when you can and reduce losses when you can e.g. if the price has gone your way (but not...

I did ok thanks Splitlink. Does my system work or is it just random luck? I don't know. I wouldn't bet on it. I changed from 1 minute time intervals to 5 minutes a while back, now I'm on 15 minutes and having more success. Why should it make any difference, I'm not trading, my dumb system is...

Splitlink You said in post 5776 of today: “What I see is a potential pullback, now, with the low at 5860. When it goes over 95 cash, I'll be happy”. I believed you and marked 5860 and 5895 on my chart. You were right. I simply buy or sell depending on which way the wind is blowing (no...

ordinaryguy76 Sorry for the late reply. I developed my ‘automated trading system’ using just the FTSE so I was looking at movements of 10s e.g. 5860 to 5870, instead of a change in a decimal place (made it simpler to observe & test). I convinced myself that if my ATS worked for one instrument...