Trader Of The Month *** Charlton ***

[Grey1]

I would like to thank my man charlton as TRADER of the month and wish him all the best in LIFE as a human and best in his trading career for his high level contribution

YA DA MAN my man and well done sir


OPEN THE DOOR AND GOD SHALL OPEN ALL THE DOORS TO YOU

**** LET THIS TO BE WRITTEN AND REMEMBERED ****

Humble Grey1


grey1


YouTube - Cliff Richard - Congratulations

 

[twistedheat]

I'm only new here but I'd like to throw in my thanks to the guys like Charlton, Pedro, Glenn, lwebb, Lote_tree etc (and anyone that I have accidently forgotten) who are working on coding the "Program trading".

It seems like a massive task coding all of the seperate modules etc, and I wish I only knew how to code so I could chip in with a more meaningful contribution. These guys could have coded this and kept it to themselves, yet they are posting and testing every part of it right here on TT for everybody to use.

So once again, thank you guys and I hope that others will join me in thanking you.

Also, I'd like to thank Grey1 for sharing his knowledge without any expection or requirement of something in return.

 

[Charlton]

I would like to thank my man charlton as TRADER of the month and wish him all the best in LIFE as a human and best in his trading career for his high level contribution

YA DA MAN my man and well done sir


OPEN THE DOOR AND GOD SHALL OPEN ALL THE DOORS TO YOU

**** LET THIS TO BE WRITTEN AND REMEMBERED ****

Humble Grey1


grey1

Thank you - you are too kind

In the best tradition of the Oscars, however, I should point out that this is very much a team effort and I am just facilitating it and trying to keep up momentum. My thanks go to all those contributing to the Program Trading threads and, of course, to you for all the excellent teaching and demonstration of your strategy and the suggestion to move into program trading.

I think that this is a first for T2W and for most trading sites to have a coordinated international team all contributing to a joint project along the lines of open-source development.

Already we are all benefitting from investigations into the use of other indicators and from clarification of how to interpret the existing MACCI indicator.

I hope that by the time of your next seminar we will have at least the first version of an end-to-end program trading system running live, but this will be an on-going project which will surely development over time.

Thanks

Charlton

 

[Grey1]

Thank you - you are too kind

In the best tradition of the Oscars, however, I should point out that this is very much a team effort and I am just facilitating it and trying to keep up momentum. My thanks go to all those contributing to the Program Trading threads and, of course, to you for all the excellent teaching and demonstration of your strategy and the suggestion to move into program trading.

I think that this is a first for T2W and for most trading sites to have a coordinated international team all contributing to a joint project along the lines of open-source development.

Already we are all benefitting from investigations into the use of other indicators and from clarification of how to interpret the existing MACCI indicator.

I hope that by the time of your next seminar we will have at least the first version of an end-to-end program trading system running live, but this will be an on-going project which will surely development over time.

Thanks

Charlton

If there is any need I will have a seminar dedicate to outlining the frame work for the code while also trading live on the day

,,
Your code should know

1) how to reduce risk using diversification
2) how to evaluate the market direction
3) if market direction in doubt then how to hedge
4) how to scale in /out in real time to reduce risk
5) pos sizing relative to capital
6) different pos sizing during oscillation and trend mode
7) exit /stop loss during osc/ trend modes
8) real time risk manager
9) execution of the trades
10) dynamic profit making based on Money managment


you wont look back once your code is finished,, I really mean this guys,, you cannot expect to make consistent profit from the market when HUMAN in nature reacts differently to different situations. HUMAN TRADERS GET BIASED AND MARRY TO HIS OPINION TILL IT IS TOO LATE . MACHINES DO NOT

Grey1

 

[pedro01]

Charlton did indeed start something that's turning into quite a project here on TT. Kudos for that !

I am not sure he deserves the Cliff Richard video though !

Your musical tastes surely are 'diverse'...

 

[Charlton]

Power to you sir

Charlton did indeed start something that's turning into quite a project here on TT. Kudos for that !

I am not sure he deserves the Cliff Richard video though !

Your musical tastes surely are 'diverse'...

For all your hard work on the coding I am happy for you to have the Cliff video.

and also power to you sir

http://uk.youtube.com/watch?v=hnM6bO_LYKE&feature=related

Charlton

 

[Charlton]

If there is any need I will have a seminar dedicate to outlining the frame work for the code while also trading live on the day

,,
Your code should know

1) how to reduce risk using diversification
2) how to evaluate the market direction
3) if market direction in doubt then how to hedge
4) how to scale in /out in real time to reduce risk
5) pos sizing relative to capital
6) different pos sizing during oscillation and trend mode
7) exit /stop loss during osc/ trend modes
8) real time risk manager
9) execution of the trades
10) dynamic profit making based on Money managment


you wont look back once your code is finished,, I really mean this guys,, you cannot expect to make consistent profit from the market when HUMAN in nature reacts differently to different situations. HUMAN TRADERS GET BIASED AND MARRY TO HIS OPINION TILL IT IS TOO LATE . MACHINES DO NOT

Grey1

I think that would be very useful indeed for the next seminar. It will help with the coding and testing as well as being a useful adjunct to our manual trading at present.

Thanks for the offer

Charlton

 

[pedro01]

can you guys cut it out with this 'Cliff' thing - it can get out of hand.

To some extent, we have code for :

1) how to reduce risk using diversification
- we do have a basket of stocks to buy/short but code isn't there to diversify by sector yet. Other forms of diversification haven't yet been considered.
2) how to evaluate the market direction
- we have the 'framwork' for that based on MACCi but are still evaluating the best indicator to 'plug in'
3) if market direction in doubt then how to hedge
- not currently in there & I personally don't know the theory behind it. I was thinking that if we weren't sure - we wouldn't trade. Getting into more risky positions & hedging is interesting...
4) how to scale in /out in real time to reduce risk
- not currently in but for sure we need scale out rules - I was thinking initially on scale out 75% when the 10 min MACCi turns against us BUT at the moment we don't have a way to identify if we have a full day trade or a scalp trade.
5) pos sizing relative to capital
- we have that based on Glenns code posted previously on the forum
6) different pos sizing during oscillation and trend mode
- not considered yet
7) exit /stop loss during osc/ trend modes
- again, not considered yet - perhaps related to day trade vs scalp trade
8) real time risk manager
- that went above my head
9) execution of the trades
- Charlton has that as a work in progress :smart:
10) dynamic profit making based on Money managment
- that went above my head too ! Is this simpy adjusting position size based on account size & therefore compounding ?

 

[Charlton]

can you guys cut it out with this 'Cliff' thing - it can get out of hand.

To some extent, we have code for :

1) how to reduce risk using diversification
- we do have a basket of stocks to buy/short but code isn't there to diversify by sector yet. Other forms of diversification haven't yet been considered.
2) how to evaluate the market direction
- we have the 'framwork' for that based on MACCi but are still evaluating the best indicator to 'plug in'
3) if market direction in doubt then how to hedge
- not currently in there & I personally don't know the theory behind it. I was thinking that if we weren't sure - we wouldn't trade. Getting into more risky positions & hedging is interesting...

I can talk to you about hedging. What we have done so far will pretty much support it - the main thing to determine is when to apply it and when not to (in an automated way)

4) how to scale in /out in real time to reduce risk
- not currently in but for sure we need scale out rules - I was thinking initially on scale out 75% when the 10 min MACCi turns against us BUT at the moment we don't have a way to identify if we have a full day trade or a scalp trade.

Agreed - those were my thoughts too.

5) pos sizing relative to capital
- we have that based on Glenns code posted previously on the forum
6) different pos sizing during oscillation and trend mode
- not considered yet
7) exit /stop loss during osc/ trend modes
- again, not considered yet - perhaps related to day trade vs scalp trade

assume these two requires a further layer of indicators on top of the ob/os indicator. Once we have this then dealing with adjustments to pos size won;t be a problem

8) real time risk manager
- that went above my head
9) execution of the trades
- Charlton has that as a work in progress :smart:
10) dynamic profit making based on Money managment
- that went above my head too ! Is this simpy adjusting position size based on account size & therefore compounding ?

8 and 10 - I too will need the seminar

Charlton

 

[leovirgo]

2) how to evaluate the market direction

4) how to scale in /out in real time to reduce risk

I am grateful to Charlton, Pedro and last but not least Grey1 for this exciting project. I also look forward to the seminar by Grey1. Thanks in advance!!!

For 2) we may need to look at bigger picture i.e, a timeframe higher than 60minutes. Weekly/daily chart for INDU has lots of directional messages in them. Or, we could also look at broader market breadths and volume. I am using market breadth and volume to avoid anti-market directional trades. e.g, when 2700 stocks at NYSE fell and only 300 go up, then there is no use in going long even though 60minute MACCI is OS and turning up.

For 4) I would suggest we use multilevel position sizes for multi timeframes. Say if 1minute MACCI is OB/OS ( reached the other side) then we scale out of a trade leaving the position sizing suitable for 10minute. 1min position size is always bigger than 10 minute one due to lower ATR. In that sense we take profits for lower TF and yet still running the trade based on higher TF.

 

[moreagr]

we cant thank grey1 and charlton enough as well...

also neaam paul glenn and pedro and others that i missed... If i forgot one of you guys you now I appreciatte it.

 

[Charlton]

Your code should know

1) how to reduce risk using diversification
2) how to evaluate the market direction
3) if market direction in doubt then how to hedge
4) how to scale in /out in real time to reduce risk
5) pos sizing relative to capital
6) different pos sizing during oscillation and trend mode
7) exit /stop loss during osc/ trend modes
8) real time risk manager
9) execution of the trades
10) dynamic profit making based on Money managment
Grey1

First I would like to thank Trader333 for opening up this room to me again. Second I would like to acknowledge the great contribution made by Grey1 to this site and to say that it is a shame that JayJay spoilt it for everyone. Anway the past is the past and I notice that this forum has not been very active of late, so I would like to try to start up again various threads that I began here in the past.

I thought that a good starting point would be to examine the ten issues that Grey1 listed in this post.

I will start to present my views and ideas on these items at a fairly high level and hopefully we will get some discussion going

Charlton

 

[belflan]

1) how to reduce risk using diversification

Entering a number of stocks in the direction of the market or if negatively correlated within the tf in question then in the opposite direction

2) how to evaluate the market direction

Based on price figures alone; multi time analysis. based on analysis that has been proven within the time frame in question

outside of multi time analysis, look for indicators that bring something else to the party; ie vwap, adv\dec etc.
3) if market direction in doubt then how to hedge

If the market entry did not have a positive expectance potential then no entry therefore no hedging required
Would like to here more on this subject

4) how to scale in /out in real time to reduce risk

Once the market set up is in place start to entered in small lots in the lower tf of the market in question

5) pos sizing relative to capital

Enter position size 1\2 of optimal.f of the system being traded

6) different pos sizing during oscillation and trend mode

Not sure about this one other than testing each market condition on the strat in question in separation then applying the appropriate position sizing strat on each indivdual strat

7) exit /stop loss during osc/ trend modes

Exit stops loss during osc modes based on small tf o/s & o/b situation ( ie oscillator on a 1min on tick chart)

Tend mode exit stops based on higher tf o/s & o/b situations
(10min, 2000tick, 60min tf)


8) real time risk manager

Not sure what is meant by this. But would think if your running quite a few models/systems there must be some way of analysing you overall exposure both long and short.

9) execution of the trades

?
10) dynamic profit making based on Money managment

may be some % Optimal f


belflan