This is the 3rd week of testing. Week 1 was a very rudimentary program, week 2 was with added criteria and working out bugs, this week's looking pretty clean in terms of not many bugs, taking correct entries, and order execution, so will likely start live testing next week.
That's great good to hear. So you are saying price action strategies, al brooks type ideas are programable. did you get a chance to backtest them or just based on your trading experience? thanks.
Thank you ALL for your quick responses. Mr. P , I like The tagline on your IB station screen shot it is way cool . I think every trader should have this "tag line" as a big desktop Screen Saver "Profits come from luck - Small losses come from Skill "
This ATS is so incredibly simple, no indicators, no trend identification (because we all know that CL can completely retrace an entire trend in about 15 minutes when it's in the mood), no time exclusions for news reports (at this point), no volume criteria, no 20-bar MA, just pure bar-by-bar price action trading. It works based on having a statistical edge, solid risk management (small stops) and trading all valid signals, so the edge puts net profitability in its favor.
what kind of pattern is this? A rising wedge? If it is isn't that usually bearish? I'm not trying to sell people on a bearish position I'm just bored and staring at charts.
While that might be true according to a textbook definition, ascending triangles have high failure rates (or so I'm told). On that note, I find it more profitable to enter short when the damn thing breaks down.