You are one of the few I follow on ET - enjoy your thread. Here is a snapshot of your post #195. This is one of the trades I do on my old trading method. Using a 7 Tick Range Bar - if price comes within 3 ticks of Support or Resistance - I may go the opposite direction - for a Scalp - or possibly a Scalp_Trend combination. When I say Scalp - I mean 2 Ticks - but I usually do that with multiple contracts. If I do a Scalp_Trend combination - say 5 contracts - I will take 4 contracts off at 2 ticks - bring my Stop to Breakeven - then have One contract as a potential Runner - for another tick or more - depending on what I see. Of course - Price may back up to my Breakeven - and take me out with the remaining contract - which I am totally okay with - as I still make money on the trade. Most of my trades last 10 to 40 seconds - on a Scalp. My Stop - is the same size as the Range Bar - NEVER MORE. And I do Lose on trades - but not often. My objective is to make my Net Daily Goal (NDG) - in the first 2 hours of trading. I may or may not reach my NDG - but - at 2 hours - I am done for the day. These days - I am trading more with my Algos - but will still trade my old trading method now and then - keeps my old brain working. By the way - I missed adding a Red Arrow for one of the Shorts - between the Two Green Arrows. Part way down from the First Red Arrow and Green Arrow - I see a place at the same Level as the Second Line that you drew - so the Red Arrow should have been at the Start of the Second Line. As I mentioned above - I use Range Bars - because they are all the same length - except for the End of the Day or the Close on Friday. My Green and Red - Support and Resistance lines - are ALWAYS on the Open of the Bar - NOT the High or Low - and for me - I find it to be more accurate.
What kind of experiences you have about the server providers in Aurora datacenter ? What it your choice ? VPS or dedicated ? Linux or Windows ? What trading platform are you using for your automated trading ?
I am going to do a Webinar this afternoon - TOTALLY FREE - NOT selling anything - it may or may not help traders. This is a Discretionary Setup - been using it for many years - about as Simple as you can get. Go to Post #340 - at the bottom of the previous Page #34 - you will see the Skype Name - if one doesn't work - try the other. The Webinar will start near 2 pm or when the first trader Skypes me - Pacific Time Zone (I am in the Seattle area). Currently - I am trading more and more using my Algo's - although I do still trade the Trading Method I will show - now and then. Personally - I believe traders make things way to complicated - they think they need this Indicator - and that Indicator - and soon - their charts look like hell - and they end up making bad trading decisions. I did the same thing - many years ago - and at one point - I had around 6 indicators on my charts - with Multiple charts - and quite often - I would get a Headache. I damn near went out of business - more than once. And - I blamed everything and everybody else. I truly finally sat down one day - and thought about the problems I was having - and I finally realized - I WAS my own worse enemy - I WAS the problem - I had to accept the blame. After that - I made some changes - and finally turned my trading around. I seriously encourage All questions. If anybody shows up for the Webinar - I will stay as long as I can - but it will last - at least a couple of hours - if there are questions.
I see many posts in the forum - saying how Risky and Dangerous - Scalp Trading can be. I have been Scalping for many years - and for me - I find it Much Less Risky and a more relaxing way to trade. To be upfront - I am mostly trading my Algo's now - but I will still take some trades using this trading method - kind of hard to stop - as this has been my favorite way to trade of many years. The following picture shows how I Scalp Trade. It is really very simple. You just need to know where Support and Resistance is - and you really do NOT need any Indicators at all. I do have my Green and Red Dot setup - that I use - at a One Tick Range Bar resolution - but it really is NOT needed - unless you are also trading Head and Shoulders at the One Tick Range Bar level - or some other Pattern - which I will not get into here. All you really need - is to add your Support and Resistance Lines. And - it doesn't matter what Charting Program you use - it is just S&R Lines. My trading is all about keeping things as Simple as possible. I mentioned this before - my Motto is - "Discipline plus Simplicity equals Success". On Post #342 - I explained some about the set-up. There are so many trades available. A little about this picture. - Support and Resistance lines - ALWAYS - on the Open of the Bar - NOT on the High or Low. I find this more accurate for this trading method. - This is a 7 Tick Range Bar - been using this for many years. If a trader uses a different size Bar - they would have to figure out how close Price needs to be at Support or Resistance - in order to do a Countertrend trade. - My Initial Stop - is the same size as the bar - in this case - a 7 Tick Stop - See the time on the Chart - a 16 Minute Period - I only trade the First Two Hours of the trading day - but there are setups like this throughout the day - I just happened to see this when looking at my chart - Count how many Trading Setups there were - Buy and Short. By the way - it is NOT always this good - usually in the same time span - you may get between 5 and 10 trades. - Notice - there are NO Indicators I know each trader is different - some may make money with this setup - others - for whatever reason - will NOT. The point here is - Traders - including myself - in my early trading days - tend to make things too complicated - and in my opinion - that is why most traders go out of business. If you decide to try this - do it on Sim - practice. It may or may not be a good way for you to trade. I wish you all much success.
CL (Oil) 50 Tick Range Bar 10 Days Bizarro Algo 4 Contracts per Entry Based on Price Action ONLY - on Current Bar NO - Backtesting_Optimizing In all cases below - just let the Algo know - if you want to Scalp - or Trend trade - or do a Scalp_Trend combination trade. That is done by telling the Algo - what you want for a Profit Target. ---------------------------------------------------------------------- The following pictures are for the CL (Oil). Top chart - the purpose of this setup - is to try and keep the Losses as low as possible - which in turn - makes the Profit much Lower - if there is a Profit --50 Tick Range Bar --1000 Tick Profit Target - to try for Large Profits - when it does Profit on a trade --50 Tick Disaster Stop - "if all else fails for some reason" - NEVER larger than the Bar Size --with a One Tick Breakeven - "if it moves One Tick - then Backs Up - it will close the position --10 days --while the Profit is NOT much - it still has a Profit and MANY - Breakeven trades --the Second picture shows - only 3 wins and 198 losses - but notice the Size of the Wins compared to the Size of the Losses. So - because of the Breakeven - there were only 3 - runners (Wins) --also see the "Percent Profitable" - only 1.49% ---------------------------------------------------------------------- Middle chart - this is a Scalping setup - and because it is Scalping - there are more trades - and a much Higher Winning Percentage --50 Tick Range Bar --11 Tick Profit Target --50 Tick Disaster Stop - "if all else fails for some reason"- NEVER larger than the Bar Size --50 Tick Breakeven - which basically is NO Breakeven - as it will also hit the Disaster Stop --10 days --setup for Scalp trades --notice - the Percent Profitable is MUCH Higher ----------------------------------------------------------------------Bottom chart - this is basically - a Stop and Reverse --50 Tick Range Bar --1000 Tick Profit Target - which turns it into a Stop and Reverse --50 Tick Disaster Stop - "if all else fails for some reason"- NEVER larger than the Bar Size --50 Tick Breakeven - which basically is NO Breakeven - as it will also hit the Disaster Stop --10 days --setup for Stop and Reverse trades - ALWAYS in a trade --notice - the Percent Profitable is MUCH Higher Top Chart Middle Chart Bottom Chart
NQ550 Tick Range Bar10 Days Bizarro Algo 1 Contract per Entry Based on Price Action ONLY - on Current Bar ONLY NOT based on Indicators NO - Backtesting_Optimizing The purpose of this setup - is to keep the Losses Small - and when it does have a Win - there is a potential for a Large Win. --notice the Large size Range Bar - which means there are Less trades --the Losses - in this case - are all Breakeven - meaning it Lost Commission ONLY Please notice the following - under All Trades --Percent Profitable - very Low --Average Trade (win_loss) --Average Winning Trade - very Large --Average Losing Trade - very Small --Ratio Avg Win / Avg Loss - very Large Win Ratio - which makes up for the very Low - Percent Profitable
In several of my Post - you will notice at the Top of the Post - the following. Based on Price Action ONLY - on Current Bar ONLYNOT based on IndicatorsNO - Backtesting_Optimizing We as traders - are basically taught to use this Indicator or that Indicator - or several Indicators on our charts - to see the Direction - Price may go. I did that for several years - and for a few years - I wasn't sure I would make it as a trader. I read a lot of trading books - took a hell of a lot of "classes" - and had mixed results - and at one point - damn near went out of business. So - what I am saying is - I am no different than any other trader. I finally decided to learn to Code - start developing my own Indicators - then eventually Algo Strategies. I did develop some very unique Indicators - and they worked well for me. However - I always had this feeling - even with my Indicators - I was making things - way to complicated. It wasn't until I started looking more into Price Action - that is when things changed for me. Eventually - I started thinking - more about looking at the Current Bar ONLY - and what is happening - as far as Price Action goes - on that bar. That is when my trading and Coding really changed. I no longer even thought about Indicators - and while I can Backtest_Optimize - I really NO LONGER needed to do that as well. I have mentioned before in this thread - at least I think I have - I call my Code - my Dirty AI. I live between the Main Microsoft Campus in the Seattle area (Redmond) - and the Google Campus (Kirkland). I have Programming friends at both. Up until Covid - we would sometimes meet at a Starbucks - they were interested in Trading - and I was interested in Coding - picking their brain. These Programmers - do a lot of AI. While my Code - is NOT fully AI - it does take advantage of what I have learned. You would be surprised at how many Tech people in this area - want to Day Trade - kind of blows me away. They make great money at what they do - but many do want to trade - at least on the side. We have started meeting again - at Starbucks - they no longer requires a mask - at least in this area. It is fun just talking with these guys. Of course - I am the old man at the meetings - kind of like meeting with a bunch of kids - but damn smart kids - lol.
Free training - on my favorite Discretionary Trading method. There is absolutely NO NEED to Purchase anything from me or anyone else. This is still my favorite way to trade - and about as simple as you can get. Training at 10 am - Pacific Time today - if anyone is interested. NO INDICATORS required. I use this to trade Futures - NOT Equities or Forex. Contact me in the forum - I will send my Skype Name to you.
If there is any trader that needs some help - I have some free time right now. See my previous post #349- will do some training - on my Discretionary Trading Method - totally FREE. As I said previously - NO INDICATORS required - this is about as simple as you can get. I trade more with my Algos now - although I sometimes still trade my older trading method. Zoom link: https://us02web.zoom.us/j/86936004423?pwd=QnhRRkFxSytVUDlUaDFFN3ljT2lzdz09 I may do some Free training on Saturday - if there is enough interest - just send me a Private Message on ET.