Here is a perspective on trading from a self confessed old guy whose been trading since 1965. (NO - not me) http://www.elitetrader.com/vb/showthread.php?s=&threadid=8666&perpage=6&pagenumber=10 Toby
I haven't, but I've been wanting to look at this idea. Right now I don't have access to intraday testing software or intraday tick data. Do you know a source for tick data? ges
I have coded a program that can do pretty much the testings you guys are discussing here. In addition to getting real time and historic data from your account, and automatically sending orders to your brokage account, it allows you to create strategies like: buy if 30-minites chart is up trand and 2-minite chart's stochastic is signaling a buy. . . . . much more. Can anybody help me to create a name for it? I will put it out here. Thanks niceguy.
This program is coded in VB. I thank the best point of this program is that it allows you to combine trading signals from more then one charts which may be displaying different ticker (say,QQQ and ^COMPX, or options) or different time frame. BTW, domain TradingSignal.com is used by someone else. Thanks niceguy
Hello opmtrader, Thanks for contributing your results for this system. This saves me a great deal of time , as I was planning on trying to code and test this same system myself. If you don't mind me asking, can you run the system on different time frames besides the 1 min. You probably have already done this, but I would be interested in seeing how the system did on maybe a 5 min, 15, or 60 min chart. Thanks, tah "09-09-02 03:05 PM Paradise Trading - Good Indicator, Bad System Someone mentioned earlier the Pardise Trading system at stockhits.com. I recently completed coding this system in Wealth-Lab and would like to share some of my experience with it. To explain a bit the Paradise System mainly looks for reversals indicated by various candlestick patterns. It took a while to code as there where many refinements one must make to get the pattern recognition right. Anyhow lets cut to the performance: Testing on QQQ 1 min data for all of 2001 Before commissions and slippage the system returned $10,000 profit on a constant 800 shares of QQQ (1 emini contact) After commission and slippage the system returned a -$30,000 return during the same period I also put the system through a number of different filters, extremely high trend values, extremely low trend values, etc. but the results were relatively the same. While one might think that the system is completely useless based on the results I have actually been using it with some success purely as an indicator for discretionary trading. Being a pattern recognition system it basically alerts me in real time various hesitations going on in the market. I then use this input combined with S/R and other inputs to help make my decisions. While some may have a problem with this approach it works for me. Good thread. Keep up the good work everyone.
tah, See http://www.elitetrader.com/vb/showthread.php?s=&threadid=8601&perpage=6&pagenumber=6 Check the 4th post down wdbaker
Tah, I just wrote an extensive message regarding this system when my computer froze up. I'll make it brief. Yes I've tested the system as I coded it on many different time frames. None seemed better than the others. Today I added the lagging entry to the system (i.e. enter only after the pattern has become apparent and the security has moved 3 bars in the intended direction). This did not help much either. I am no authority in this system. I made many discretionary decisions in its implementation regarding the use of stops, reversal strategies, pattern tolerances, etc. The reason I feel this system fails is that it is applied at all times. The problem with this system and others is that it can't distinguish all of the other elements present in the market such as larger period trends, multi day support and resistance points, exogenous events, etc. Recognizing these and other elements are likely what separate the good traders from the bad and good systems from bad. If you are still interested in this system I suggest you chack out http://www.wealth-lab.com/cgi-bin/WealthLab.DLL/editsystem?id=11038 This is a beautiful piece of code for recognizing candlestick patterns. Just code any and all entry logic you want. Go nuts.