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wow 100 views and zero responses. anybody out there?

I'm testing out a new system which is fairly simple, and I was hoping some systems traders could give me some pointers on how to set a logical target and stop for each trade. Here is the system: Use a 200 period simple MA and a 20 period RSI (70/30). Buy at the close of a price that has...

Oh I refuse to diversify, ok thanks, I wasn't aware of that. I guess diversifying systems doesn't count.

Yeah I've been trading forex so the gaps are more or less inconsequential as long as I'm not trading during news releases. The fact that my equity curve is smoother is really the whole point of my post, I guess it's just really tough for me to see why anyone wouldn't choose to have lower...

No offense, but part of what you're saying makes no sense. Finding a style that suits me about is all about appealing to my psyche, that is the whole point. There's a valid reason for that, so I'm not going to "forget about it" like you say. The fact that the market doesn't care what I think...

I scalped for a prop firm in Chicago for a couple years and did poorly and I've since discovered systems trading and I'm trying to find something that suits my personality. I find trend following to be extremely tough because the drawdowns are big and the win rate for each individual trade is...

oh and by the way, i do not currently have a data feed for anything, aside from an account at forex.com, which offers very limited charting for intraday data. I can only go back a few days on it.

I know this might be a lot to ask but I'd really like to know if there are any sites out there that offer good charting software either for free or inexpensively, it MUST have intraday data with 5 min bars that I can peruse from at least few months back. It doesn't matter if it's equities...

Your trading rules should be based at least partially on volatility, so it shouldn't matter. If the extra volatility is causing you to set wider stops, you should be trading smaller size. If you CAN'T trade any smaller size (that is, if you're trading 1 contract in futures or forex), you...

i like this idea as well but you're going to have come up with more concrete rules to determine what constitutes a recent higher high and where your entry, target and stop should be. I think the idea itself is valid though.

Thank you very much sir!!! Much appreciated.

I could calculate it manually but I was just wondering if anyone knew of any free software online that calculates the ATR of the euro and/or other crosses. Any suggestions would really be appreciated, thank you!

Ever since I've had all this independence with being able to trade from anywhere, I've always wanted to take a few months and just move fron country to country, say 1 per month, and sublet an apartment and trade there. Would anyone like to do this with me? All of my friends have regular jobs...

You're CLEARLY taking too much risk and you have no clue what the risk of ruin concept means. That's vital to trading, and your aptitude in this is on par with a retarded person. Get more conservative or get out of the business.

Phoenix, thanks so much for the sample code. I tried it out and it doesn't seem to pick up all the signals. Also, the entries aren't shorting the next bar at the market. I PM'd you.

Thanks, that's probably why I've had such a tough time trying to get the code to work. Thank you for the RELEVANT information, much appreciated!!

How many cliches are you going to write?

It's very tedious to backtest this by hand, but yes I have done it hundreds of times and have made money trading it in the past couple weeks. I've been trading for 5 years, I'm aware of what you're saying but I'm not a programmer. I'm done with this thread, all the replies are just people...

I don't consider this microscalping, if you take a look you're only getting a few signals a day if you ignore consecutive signals. That is, if there's a ridiculous move up you're not shorting 2-3 times in a row. I could talk about this more but it's taking away from the point of this post...

The low of the previous bar. 9+ ticks within 2 min.