Challenge: Profits from indicators :)

Dinos

Well-known member
Nov 10, 2003
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#16
I will start by developing a strategy, backtesting it, demo'ing and finally live trading... I hope to be in profits within a month to show people it doesn't have to take years to become consistantly profitable :)
KISS, doesn't have to de over elaborate or complicated. I trade 3 indys only, whilst I'm aware of fibs, S&R levels, my trades are initiated and closed using indicators, simple, uncomplicated and very effective.
 
Likes: wackypete2

GladiatorX

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Jun 7, 2009
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#17
KISS, doesn't have to de over elaborate or complicated. I trade 3 indys only, whilst I'm aware of fibs, S&R levels, my trades are initiated and closed using indicators, simple, uncomplicated and very effective.
Thats interesting, i already trade indicators profitably (My own self-made indicators)... I'm just not willing to share them strategies... This 'challenge' is just to create ANOTHER indicator system based on the generic indicators avaliable to the public to show others that they can work and also to share with the public ;)

What is the main basis of your setup? MA's :D
 

Pat494

Well-known member
Mar 27, 2004
13,035
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#18
No trades today.

lol.

Its entirely systematic.

Decided to trade ES, E-mini S&P500 contract (CME exchange) ... This is a market i'm very familiar with and therefore in creating the system i was using my knowledge accumulated from watching this market for many hours...
Excellent choice
EOD and/or intraday ?
 

GladiatorX

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Jun 7, 2009
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#19
Excellent choice
EOD and/or intraday ?
Both if you'd like ? It will work on all time-frames. All tick charts.
I was thinking Daily, Hourly, 5-minute and 233-tick chart setups.

What i've actually developed is much better than i expected when i begun this challenge - I'm very confident.

I actually backtested it on multiple markets, time-frames etc etc... The best was the DAX weekly, which over the last 10 years gave a 100% win percentage. Setups are rare... Probably one per two months on the weekly chart.

I must confess that this isn't entirely indicator based... It includes price action, however that is also systematic and non-discretionary, therefore a robot could execute the trades... the thing about indicator setups, is even something like stochastics oversold and overbought can work with discretion, people just overcomplicate things and want a 'definate' way of doing things... If you trade ONLY the EMA crossovers that from your analysis look like good setups then you'll do alot better... However i stress that this is entirely mechanical, however would work better with discretion.
 
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Dinos

Well-known member
Nov 10, 2003
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#20
What is the main basis of your setup? MA's :D
Having taken many years to get to this level, and many weeks and months of hard graft, I dont give set up info away these days, sorry.
 

Pat494

Well-known member
Mar 27, 2004
13,035
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#21
Both if you'd like ? It will work on all time-frames. All tick charts.
I was thinking Daily, Hourly, 5-minute and 233-tick chart setups.

.
I used to do 1 min charts but found them a bit quick when concentration flags and have been looking at 30 min. The Macd bumps are a lot smoother and more definate too at this speed imho
 

GladiatorX

Well-known member
Jun 7, 2009
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#22
I used to do 1 min charts but found them a bit quick when concentration flags and have been looking at 30 min. The Macd bumps are a lot smoother and more definate too at this speed imho
Okay interesting, i prefer tick charts, price action is more clear - However i will do 30-minute setups to maybe benefit you?

Going to start trading now. I'm a bit unorganised today... Just going to start on Euro/Japan right now and then later do 2 hours on the ES and see how we do... Really it should be much more structured, i just had a late night
 

GladiatorX

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Jun 7, 2009
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#23
30-minute EJ setup @ 135.33
Stop loss @ 135.44
Target @ 135.01

Trailing stop mechanism engaged.

Trailing stop hit ~ 135.13

+ 20 pips.
 
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GladiatorX

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Jun 7, 2009
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#24
Backtested on ES, averaged 5 points per day (With additional 0.25 slippage per trade, and only filled when price trades through the limit) on a 233-tick chart from 2.30-4.30pm. From the start of the year.
Very confident.

Even now @ 12.39, got a signal to go short that worked, pre-market. Obviously didn't take it. Against the rules :)

Does anyone want to work on automating this with me?
 

GladiatorX

Well-known member
Jun 7, 2009
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#25
I was having trouble logging in :( So i wasn't able to post live trades... I executed a total of 4 trades, i feel its pointless posting them without them being live though... I will post the charts later anyway.
 

GladiatorX

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Jun 7, 2009
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#28
To be honest, i made the system and back-tested it and decided to trade it on the ES... But i don't have time to trade a system on the ES because i have to discretionary trade it and i can't do both.
Then i decided i could trade it on a different market, but then i just couldn't be bothered. I trade 2 hours a day pretty intense concentration and i'm just too knackered to do anything else, system trading is extremely boring... I've learnt alot from this experiment. :)

So overall, i can't be bothered. Plus people need to learn their market and learn to trade 'context' rather than trying to fit default settings around it...
 
Jul 1, 2009
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#29
To be honest, i made the system and back-tested it and decided to trade it on the ES... But i don't have time to trade a system on the ES because i have to discretionary trade it and i can't do both.
Then i decided i could trade it on a different market, but then i just couldn't be bothered. I trade 2 hours a day pretty intense concentration and i'm just too knackered to do anything else, system trading is extremely boring... I've learnt alot from this experiment. :)

So overall, i can't be bothered. Plus people need to learn their market and learn to trade 'context' rather than trying to fit default settings around it...
lol....I can appreciate that. I was just interested in your findings as I just read your "Why i think most traders fail" thread and found your post very interesting. Im still trying to get my head around it and how I can incorporate it in to day trading a couple of hours aday like yourself. Any advice on how to be consistantly profitable? (I trade the ftse100 if that makes any difference)