Daily dow system (cantor should put me on commision!)

[pssonice]

what kind of bad data r u talking about ?

I have no idea what u r talking about. yahoo EOD data as well as intraday data r given for free
and those data are available from every where via internet. the database is uptodate.

 

[dc2000]

I have no idea what u r talking about. yahoo EOD data as well as intraday data r given for free
and those data are available from every where via internet. the database is uptodate.

its not bad data just inaccurate data for back testing of a strategy

 

[stevespray]

Stephen.... Re my earlier post.... How are you creating the buy / sell levels?

Many thanks,
Steve.

 

[smccreedy]

Sorry I missed your post earlier on when I was looking in to the data.

The systems I am testing at the moment are at what I hope to be at the end of a rather expensive tortuous journey.

After many years trading rather ad hoc ditching good strategies when I lost money (after ignoring the rules) and many other trading mistakes I figured I'm the kind of character that needs a little more in the way of hard and fast rules and less in the way of discretion. Time and time again I've proven I do not have what it takes to trust myself without very specific exit criteria. I think this is due to the need to draw a salary each month and that can manifest itself in desperation to make money that leads to bad decision making, something I think you lose a little when you are looking to make on top of what you have coming in.

I have played with moving averages and 'X' days new highs/lows etc but all these didn't seem to fit my personality. I hate being in overnight and by switching from CMC to cantor to trade the daily expiring FTSE and Dow instruments I got rid of one of my problems, holding on to losers, straight off the bat.

The system I am trying out now is based on a measurement called ATR, average true range, google it if you are not sure what it is or how you calculate it.

My metholodgy is to identify points that if the market surpasses it ought to carry on to close even further in that direction.

I am a firm believer that you have to build your own system in order to stick to it and trust it and also believe what can work for one person might not fit the personality of someone else.

I am also a firm believer of money management and bet sizing and think these done properly can turn a quite pedestrian system into a great one.

It's about understanding the relationships between the number of wins versus losses, the payoff of when you're right versus when you are wrong and the streak of wins or losses in a row.

If you are interested in systems I'd like to point you in the direction of www.seykota.com.

It's great, I appreciate some traders don't like emotional side he writes so much about but he has a resource section for building systems and all the math you might need that is second to none. He has a great way of showing clarity to the ideas and genuinely is contactable if you need help.

Hope this gives a little insight in to where I am at with this.

I am sorry if a lot of it is stating the obvious but thought I'd start from the top.

Stephen McCreedy

 

[Hoggums]

Sorry I missed your post earlier on when I was looking in to the data.

The systems I am testing at the moment are at what I hope to be at the end of a rather expensive tortuous journey.

After many years trading rather ad hoc ditching good strategies when I lost money (after ignoring the rules) and many other trading mistakes I figured I'm the kind of character that needs a little more in the way of hard and fast rules and less in the way of discretion. Time and time again I've proven I do not have what it takes to trust myself without very specific exit criteria. I think this is due to the need to draw a salary each month and that can manifest itself in desperation to make money that leads to bad decision making, something I think you lose a little when you are looking to make on top of what you have coming in.

I have played with moving averages and 'X' days new highs/lows etc but all these didn't seem to fit my personality. I hate being in overnight and by switching from CMC to cantor to trade the daily expiring FTSE and Dow instruments I got rid of one of my problems, holding on to losers, straight off the bat.

The system I am trying out now is based on a measurement called ATR, average true range, google it if you are not sure what it is or how you calculate it.

My metholodgy is to identify points that if the market surpasses it ought to carry on to close even further in that direction.

I am a firm believer that you have to build your own system in order to stick to it and trust it and also believe what can work for one person might not fit the personality of someone else.

I am also a firm believer of money management and bet sizing and think these done properly can turn a quite pedestrian system into a great one.

It's about understanding the relationships between the number of wins versus losses, the payoff of when you're right versus when you are wrong and the streak of wins or losses in a row.

If you are interested in systems I'd like to point you in the direction of www.seykota.com.

It's great, I appreciate some traders don't like emotional side he writes so much about but he has a resource section for building systems and all the math you might need that is second to none. He has a great way of showing clarity to the ideas and genuinely is contactable if you need help.

Hope this gives a little insight in to where I am at with this.

I am sorry if a lot of it is stating the obvious but thought I'd start from the top.

Stephen McCreedy

You also need to build in money management to your simulation. If you win 200 pips and size up your bet, then lose 200 pips, pip wise you are at break even, but money wise you are not - you have less money than when you started!!

 

[nkruger]

Are we allowed to ask how you calculate the levels for the entry orders? (You may of course wish to keep this 'secret)


Can you tell us how your signals are worked out ? The system I use is one that's been posted here ages ago and still works ok. Take the PDC and X 0.35% ( so for tomorrow - Tues 20/02/07 - we would have a figure of 12767 X 0.35% = 45.) If the Dow goes +45 or -45 at any time after 4pm GMT enter a trade in the same directon. As I'm watching the screen around that time anyway ( for the Dow Elevator System - elsewhere on these boards ) I may catch an extra few pips to help with the wife's Hilton Taba Heights half term Fund......