Back to Camarilla for Spreads and doing ok

[Deena]

Hi all

Firstly its nice to be back on the forum after a break - move of house and baby over the last 4 years.

I am still trading and after 15 years of trial and error i am happy to say the profits out weigh the losses.

I think i have tried every thing from simple to comlex and every formula and platform. I have now settled over the last 2 years on 2 platforms ig index and financial spreads.

After every formula testing - i have gone back to Camarilla that i was kindly sent a free calculation form way back in 2002 and after severl different alternatives i have to say it workd peobably better than most

I trade 5 days a week on the FTSE and DOW and try and take between 15 and 20 points on the FTSE a day.

Well i guess i want to hear from anyone else using the camarilla or any updates or improvements i have missed.
Also i am finding the close formula a little inaccurate. When i traded a few years ago most platforms closed the FTSE at 4.30 so it was easy to use that price in the formula, now IG and Financial SPreads are open 24 hours - i am a little confused what FTSE close price to use in the equation

Looking forward to hearing from you guys

Happy Trading

Deena

 

[montmorencyt2w]

I don't trade indices and I don't know the Camarilla system, but I have to say, this 24 hour trading with (presumably) "made up" prices seems daft and dangerous to me.

Would it work if you just stuck to official market hours and used the official closing time, and just ignored IG's/Finspread's additional hours?

I don't know how realistic that is though.

(You would have to close your position every day, which may not be what you want to do).

 

[tomorton]

I second what montmorencyt2w says about 24hour trading on 8 hour indices. Beyond 4:30pm, the FTSE SB quotes, as an example, are following the US market until New York closes. After that they track the futures (I think) and there's influence from the Asian markets while they're open. So TA of these out of hours quotes is not derived from the FTSE index itself, its a hybrid.

These days I try to avoid having stops or limit orders open on the FTSE after the London close as so many times some meaningless price action (meaningless as far as the FTSE is concerned) gets me into a senseless position or out of a good one. Price falls here all day, so I used to drag my trailing stop on my short lower, like you're supposed to: then there'd be a bounce at 2:00am that FTSE TA would not have predicted and I'm stopped out, only to find at 8am we continued lower without a pause.

Occasionally, it works the other way too, and I have sometimes but not often found my price target is achieved by the SB quotes before the underlying market opens so I'm out by breakfast. Not reliable enough to incorporate into a strategy though.

The out of hours SB quotes TA is not real TA as its not derived by a large pool of traders with liquidity and freedom of action, don't rely on it.

 

[pboyles]

Rathcoole_exile uses them to great effect, look him up and read some his posts. I currently use floor trader pivots (weekly) and I get the levels from mypivots.com I am also testing cam as well. I trade futures so I don't have your issues with various closing times.

 

[Jack Hughes]

I second what montmorencyt2w says about 24hour trading on 8 hour indices. Beyond 4:30pm, the FTSE SB quotes, as an example, are following the US market until New York closes. After that they track the futures (I think) and there's influence from the Asian markets while they're open. So TA of these out of hours quotes is not derived from the FTSE index itself, its a hybrid.

SB prices are always derived from a future because you can't trade an index. I think the 'FTSE' used to track the DAX and US from 4:30 before the UK hours were extended.

 

[tomorton]

Camarilla looks like its based on sound market dynamics - many other TA approaches look for reactions against a prevailing move - whiplash, key reversal, 80-20, hikkake, etc., so the constants in the formulae look as good as any other choices.

On a point of detail, what are L1, L2, H1 and H2 for? They don't seem to be entry points or stops - are they profit targets?

 

[Deena]

Thank you everyone for your replies - most helpful

Just to clarify what your all saying - sorry but i want to make sure i undestand.

If the ftse closes at 4.30 at 4900 but continues tracking DOW and plummets to 4850 and oopens at this - With the Camarilla Equation a lot is dependant on closing price

*** I should use 4900??

Thanks again Its nice to be back

Does anyone else use camarilla daily ??

Deena


(L1 - once it reaches this point the market 99 % plummets - so go with it - used Camarilla for over 8 years and at L1 its pretty accurate. Just depends how many points you want . Last week it went down by 79 points at L1 but i am happy with 20 a day. Same with H4 but price shoots up. L2 and H3 are pivots)

 

[pboyles]

The real market will be trading the futures so unless you use the futures prices to calculate the pivots I imagine they may not be so reliable.The problem is that I don't know if you are spreadbetting the futures price or the index. If you have the choice it may be better to follow the Sept 10 futures. Having said that I don't think spreadbetting is a good way to trade.

 

[Deena]

Thank you for your reply. I wonder if you could expand. I use financialspreads.com. The market i trade on is the FTSE ROlling Daily and Wall Street Rolling Daily. This is ll i have traded on for ten years. I get my high low close open from yahoo finance thank you

 

[misssnp]

how do you trade with the camarill levels?
i have the equations. programmed it for a pop platform, so how do you trade it systematically?

Hi all

Firstly its nice to be back on the forum after a break - move of house and baby over the last 4 years.

I am still trading and after 15 years of trial and error i am happy to say the profits out weigh the losses.

I think i have tried every thing from simple to comlex and every formula and platform. I have now settled over the last 2 years on 2 platforms ig index and financial spreads.

After every formula testing - i have gone back to Camarilla that i was kindly sent a free calculation form way back in 2002 and after severl different alternatives i have to say it workd peobably better than most

I trade 5 days a week on the FTSE and DOW and try and take between 15 and 20 points on the FTSE a day.

Well i guess i want to hear from anyone else using the camarilla or any updates or improvements i have missed.
Also i am finding the close formula a little inaccurate. When i traded a few years ago most platforms closed the FTSE at 4.30 so it was easy to use that price in the formula, now IG and Financial SPreads are open 24 hours - i am a little confused what FTSE close price to use in the equation

Looking forward to hearing from you guys

Happy Trading

Deena

 

[random12345]

Looks basically sound though rather basic for 15 years experience. Still, it shows that enforced discipline around an ok system counts for more than poor discipline around a high edge system...

 

[dtb2]

Looks basically sound though rather basic for 15 years experience. Still, it shows that enforced discipline around an ok system counts for more than poor discipline around a high edge system...

I think this is what I require to improve my trading. A strict "simple" setup to use. Any more info on how people trade it, i.e. weekly-daily or??

 

[rathcoole_exile]

Rathcoole_exile uses them to great effect, look him up and read some his posts. I currently use floor trader pivots (weekly) and I get the levels from mypivots.com I am also testing cam as well. I trade futures so I don't have your issues with various closing times.

my own formuale for targets for breakouts or breakdowns are
H5 = H4+(H4-H3)
L5 = L4-(L3-L4)

I don't use L1,2, H1,2 but do use central PP