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Here is a short $600 profit trade in a few minutes around 2PM EST.
Image #1:
I was watching the buy anchor gbp/usd on the bottom and was dislodged by 2 sells chf/jpy first then usd/jpy. The trend was strong so I entered and the rest is history.
I am not a programmer, so how am I to know what programs can be converted or not? Since it can't be converted exactly to MT4, I was hoping you would at least post your code to see the logic so an attempt could be made to make a similar Metatrader indicator - but since you won't share after this method was given to you by PipScorer, that's fine.
Quote:
Originally Posted by ramrocket
You are kidding me right? There is no way to convert C++, MFC, COM Servers into MT4 shell.
Guys, I have received alot of emails requesting that I publish the code/programs for public use. As I have already responded to many people's emails & PMs, I cannot for the simple reason that I don't have the time to maintain it, have it worked with traders broker's API, make software revisions, etc. I built them for personal use only in my trading.
Mike, for me the trend is strong when the trend bias is at least > 100. I will not consider a setup if the meter does not have at least that much strength, about 72 is the buy/sell spread with my broker. When the bulb "lights up" with buy/sell strong indication...that is my signal. In this case I entered the trade when the trend bias was around 230. The meter after that went beyond 500 an indication of a strong move!
Hi ramrocket,
I hv few questions for you hope you don't mind to answers
1. How do you calculate buy power, sell power ?
2. How do you calculate trend bias? is it buy power - sell power?
3. And the meter as indication of strong move?
You ever go into heavy drawdown? Let's say all the stars align on your system, and you go in with some size. The market does exactly of what you DO NOT expect, and the "basket" position goes against you.
What is your strategy when in drawdown? Hold and wait? What kind of max DD have you seen?
Has there ever been a point where the market just goes out too far for the whole basket to recover? What do you do then?
It interesting to see this system because in my mind, I would trade it the exact opposite way as the crowd.
__________________
Life is a Gamble. You win some. You lose some. And life goes on.
Hi ramrocket,
I hv few questions for you hope you don't mind to answers
1. How do you calculate buy power, sell power ?
2. How do you calculate trend bias? is it buy power - sell power?
3. And the meter as indication of strong move?
Pj..
Buy power is the total of all buy pairs, sell power is the total of all sell pairs. the bias is the difference. strong move is determined by trend bias > 100. watch for the pairs that dislodged the anchors on either sides. on the buys for example, what happens when GJ or EJ starts climbing towards the anchor position? all of this information is covered in the 2 big threads of T101 in FF.
You ever go into heavy drawdown? Let's say all the stars align on your system, and you go in with some size. The market does exactly of what you DO NOT expect, and the "basket" position goes against you.
What is your strategy when in drawdown? Hold and wait? What kind of max DD have you seen?
Has there ever been a point where the market just goes out too far for the whole basket to recover? What do you do then?
It interesting to see this system because in my mind, I would trade it the exact opposite way as the crowd.
I am also keen on knowing these aspects.
There was some attempt at FF to scalp with this system with the help of indicators with shorter time frame. Is it really possible to scalp with this system? Is it not too risky when a small movement of 25 pips could make difference of 300 pips if one is on the wrong side?
Timing the entry becomes crucial. I tried my hand but..
I am done trading for the week. The results are shown below. To view statements for the figures below..Click the attached link at the bottom of the post
I was not able break my high record of 16,000 pips. I am 4,400 short for the record. But overall its a decent week for trading.
IBFX Platform:
Total Trades Made ------- 681 trades
Total Pips Profitted------- 11,615 pips
Total Dollars Profitted----- $11,470.73
FXPro Platform:
Total Trades Made ------- 444 trades
Total Pips Profitted------- +4,637 pips
Total Dollars Profitted----- $4,729.61
Cummulative Total:
Total Trades Made ------- 1125 trades
Total Pips Profitted------- +16,252 pips
Total Dollars Profitted----- $16,200.34
You still have not answered my question of how you handle drawdown. I would like to know. How do you know when to stop the basket and cut your losses?
For instance, your trades at the beginning of your statement on IBFX, on 10/26/08, you entered and took a decent loss on the whole basket. What made you cut your loss there? Same thing happened on 10/31/08, you took another loss.
A lot people are focused on entry. I'm more focused on your rationale to close a losing basket. To me, I feel comfortable only if I know how to get out of a losing trade.
"Know when to fold!" Kenny Roger's priceless lesson.
With a statement like that, you are DA MAN!
__________________
Life is a Gamble. You win some. You lose some. And life goes on.
Last edited by Kenny Rogers; 11-01-2008 at 12:24 AM.
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