My ideal chart is 2 hours 53 minutes 23 seconds. My strategy for any currency is to count the ticks until you reach 2 hours 47 minutes and 49 seconds. Tabulate the plus ticks and the minus ticks, divide them by the difference between the open and closing price at that time. set that value aside, as you will use it shortly. Quickly (before the end of the chart time frame) check fair value on the S&P and then divide that by sum of the last instruction If it is above "1.97" buy at the market and hold for 3 days If it is below "1.76" sell at the market and hold for 5 days, 3 hours and 16 minutes. This is a kick ass entry protocol that produces astounding results. Look out Bill Gates, watch your ass Warren Buff-it.....
Did you mean this sarcastically? Because it's closer to the truth than most would admit. The subconscious is alot less irrational than most trading literature will have you believe. If you know deep down you have no edge or have consistent negative expectancy, you will constantly find yourself resorting to the best available option in that scenario: to gamble everything in one shot. Heads up, an amateur poker player will try to get all-in pre-flop vs a pro as often as he can, and let the luck of the cards win it for him, rather than try to outplay a pro street by street. He would rather gamble, because that is his best bet. It's the same with trading.
------------------------------------------------------------------- My ideal chart is 2 hours 53 minutes 23 seconds. My strategy for any currency is to count the ticks until you reach 2 hours 47 minutes and 49 seconds. Tabulate the plus ticks and the minus ticks, divide them by the difference between the open and closing price at that time. set that value aside, as you will use it shortly. Quickly (before the end of the chart time frame) check fair value on the S&P and then divide that by sum of the last instruction If it is above "1.97" buy at the market and hold for 3 days If it is below "1.76" sell at the market and hold for 5 days, 3 hours and 16 minutes. This is a kick ass entry protocol that produces astounding results. Look out Bill Gates, watch your ass Warren Buff-it..... --------------------------------------------------------------------------- i am confused.
Most trading neophytes end up gambling not because they know that it offers the best odds for them, but because of the fact that they don't know any better. Factor in the thoughts of $$$ they can make on a quick 5 tick move with 10 cars, the demise is quick and oh so fast.
I coded Ripley's idea very quickly in EasyLanguage to see if it would work: // Start Code Variables: TickValue(0), MP(0), SellStop(0), CoverStop(0); TickValue = MinMove / PriceScale; MP = MarketPosition; If MP = 0 Then Begin Buy ("LE") Next Bar at H + TickValue Stop; SellShort ("SE") Next Bar at L - TickValue Stop; SellStop = L; CoverStop = H; Sell ("LXi") From Entry ("LE") Next Bar at SellStop Stop; BuyToCover ("SXi") From Entry ("SE") Next Bar at CoverStop Stop; End; If MP = 1 Then Begin SellStop = L; Sell ("LX") From Entry ("LE") Next Bar at SellStop Stop; End; If MP = -1 Then Begin CoverStop = H; BuyToCover ("SX") From Entry ("SE") Next Bar at CoverStop Stop; End; // End Code I applied this to a two-minute YM.D chart in Tradestation, and the attachment is the result. I used $2.50 per contract per side commission, with zero slippage to make the backtest ideal. RoughTrader
I use a 1 tick chart with a 6 pip profit target and a 5000 pip stop loss. I haven't lost yet!!! Never believe a backtest. Rough trader is just trying to scare newBs off from reaching their dreams!!!
I'm not trying to scare anyone off. I simply coded Ripley's strategy based on his description of the buy and sell orders. If you follow his logic and had taken the trades over the past two years in the YM, you would have lost several hundred thousand dollars. Plain and simple. There is no reason why a backtest should not be believed. In fact, to disregard negative results of a backtest and blindly trade the strategy would be very foolish. But you go on right ahead and trade this strategy. I'll be more than happy to accept your donations in my accounts. RoughTrader
boy scout, they are all just messing with you, cause you were stupid enough to come here and ask for edge, without reading any other thread damn it, I won't waste any more of my old bones pointing out how stupid most new traders are I could be here 20 years and every day some new guy will ask for help this is last time I point the new guy towards info read my thread on trading carrier called for all you who want info here it is
hey illiquid you should, I have a file where I keep some of profound quotes by people like Nitro, Steve, etc you should know that I added your above quote to the illustrious list