Auto Trading Day1

Hi Ian,

Oatman has stated on many occaisons that he uses 2.5x3 and 3x3

0.5x3 is useless on FTSE as it is much too close to the action.

JonnyT
 
Hi Ian,
Just set up a 2x3, a 3x3 and say a 5x3 and you will see how sensitive the 2x3 is. You'll get many more signals.
3x3 is a popular set up.

Be lucky
ps. Jonny, I missed the 1st one whilst rebooting because of Updata playing up!
 
Hi Oatman

As noted on another thread I couldn't trade this (Thurs) am but the system so far would have made 8 trades for -21 points.
At one stage the P+F chart produced a lovely rounded bottom with a thickness of between 3 to 4 boxes, generating 4 false breakouts in a very short space of time.

It can be dispiriting - I'm finding Les Carlin's trading diary an interesting read on this.

Cheers
 
Three systems I'm following:

Take 10 - Takes a 10 point profit when available else out on a reversal 13 trades for -17

Take 15 - Takes a 15 point profit else gets out on a reversal 13 trades -9

Pure reversals 13 trades for -15

Due to a bug my system trading the 10s entered the first trade and got stopped for -1.5pts instead of a 10 profit. I've quit for the day down 28.5 points net

JonnyT
 
Dr. Mike,
Having missed the first 2, I'm now reluctant to get in. The finger's been poised a couple of times but, so far, my indecision has saved me money! :D I get "dealers itch".
I'm afraid it's one of those days. It's going to be choppy but lets see what the pm and Saddam throw up.

Good luck,
 
Hi, JonnyT

JonnyT said:
Three systems I'm following: ......

Are these all entering on reversals from double tops/bottoms?

I've been playing with paper trading similar systems on the ESTX for the past few days. Started off very well, over 90 points on my best day. But has gone downhill today, -35 points so far on closed trades, lots of false entries (which I need to do something about screening out), though currently also +14 on an open short
 
I auto-traded PnF buy and sell signals on the sim (FTSE) for a couple of weeks a while back. The good days were good (50 - 60 points or more easy), but the bad days were horrible - worse than -100 points before lunch some days. I concluded that even if it made money over the longer term, I couldn't take drawdowns like that without ending up in hospital before long. I considered setting a daily loss limit, but thats hard too because some of the best days were down massively before they jumped back into profit.
Hope JT does better, then I can invest in his fund which will be much easier :D

H.
 
Hi JonnyT,
Excellent to hear you have got automatic trading working.
I am currently writing some code to do a similar thing.
Have you automated your system using Tradestation or have
you coded it up from scratch?
I have been looking at the Tradebolt add on but am not convinced about the way it handles orders.
 
JonnyT,

Which contract were you trading? I followed the June contract today (I switched because it has similar volume to March now) using some P&F systems I'm tracking, and they all came out ahead.

Paul
 
Hi Oatman

Well things improved in the pm and the system ended the day
-12 (before spreads) after 13 trades.

Fortunately I wasn't able to start off this am. as the spreads would have killed me.

I never did catch the bottom every time I waited for a p+f bottom to appear the chart broke downwards again.
 
Dr. Mike,
It was not a good day. :devilish: The first signals this AM and the buy late PM would have baled you out. Trouble is, it's hard to keep going when it kicks you when you're down. It often pays you back if you persevere. And..... there's always tomorrow :D
Oh, and by the way, you know what I think of bottoms ;)
 
oatman said:
Ianp,
You are correct.
There is no such thing as a system. So don't trade between 12 and 2. Go shopping or something. You've identified a weak spot in your method.
I've been trading Ftse future from P&F breakout entry points for 3 years. I agree it will "kill" you on lack of range on a quiet day. The whole point of trading Ftse IS the day's range. You know it will break at some stage, but you must have momentum. Be patient. If you manage the signals with MAs, stochs, RSIs or whatever you fancy, you will make money. Don't go in when the market is flat. I keep hearing about CCI, so today I've been playing with the 14 CCI on a 1min . I'm not sure how to use it so I tried it with the zero cross. Very useful. P&F, CCI, MA or whatever, use your favourites, when you're happy - go! P&F can get you in but you need to be selective.
If you wait for the signal to reverse before you get out you may need a lot of equity. If you set a fixed stop you'll get stuffed. The P&F target counts are a good level to have an objective and your pocket is a good guide for the Stop, if nothing else is obvious. It's the individual's choice of trading style once "in". I use 3x3 and 2.5x3 to get in. I sometimes use 2x3 to see the short term on when to get out. You must adjust your style to the market.
Be confident, P&F breakouts work.

Be lucky

I have been using CCI 14 overlayed with CCI 6 for the last 3 months am very happy with the results when the 6 crosses the 14,the only slight hitch is on the way down they are a might too quick,so I use a slow stochastic 10,this irons out the problem somewhat.Nothings perfect. :rolleyes:
 
Top