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I'm starting this thread to build all together a new system, based on going short/long in an overbought/oversold market. The idea came from a friend, whom I recently introduced to trading. After making money in his first day of trading, he told me that when price "goes up too much and starts...

"...almost gambler mentality": it applies to me. "...measely strategy...": correct, because we don't realize we can build 20 of strategies and use them simultaneously. "...It took years of testing strategies...": same for me - I realized, after 5 years of testing, that it's better to have...

Naysayers that respectfully explain their objections are fine. Superficial people, who just criticize without explaining why, without suggesting a better solution, and often without even fully reading what they are criticizing, go straight into my ignore list. They are easily spotted by their...

Yeah, you don't have to reply forever - of course you have your work. Just like I don't have to go on talking forever, so maybe I will shut up, too, for a bit.

Now the strategy could work both ways, but let's worry about short, to make it more simple. How do I measure "go up too much"? In a simple way, without using "oscillators", I would use a series of consecutive higher closes (hourly, or any timeframe). How do I measure "start to come down"...

Yes, 33. I don't want to say what I want to do, because I don't want to be disapproved or get the thread off topic (I want to do drugs, but legally - I will go to Amsterdam and smoke marijuana for a month). Here's an idea for the 34th strategy. I gave access to my paper trading account to a...

Leveraged forex, just like me. And I, too, am developing other strategies now (have 33 now, but 7 of them don't work). Smoothing the equity curve, exactly. That is what's been driving me crazy for the past year - the drawdown. For two straight months I double, and then suddenly the next month...

That is exactly the same answer I gave to Ed. In another thread, I told him I don't feel like trying new programs because I am working all day long on excel for my bank (With this excuse nobody else does anything - all work to be done on excel comes to me. I am a non-programmer here, but to them...

Wow, this is great. Thank you very much.

Money management - new discovery to me. Until 6 months ago I reinvested all profits in all systems regardless of their past (back-tested and live) performance. Now I am using a formula that allocates capital according to performance both in back-tests and in real money trading. "The best...

I need help with downloading, from IB, via an excel historical query, the CL contract for April 2009. It gave me all other contracts (before and after), but April 2009 doesn't seem to exist. There should be a CL contract for every month of the year. Can you tell me what I am doing wrong? I am...

Thanks for the advice. Luckily I hadn't done that either. I avoided using stops because I felt I might risk overoptimization, but even before that because they weren't improving my strategies (which had time based exits).

You're right - reversing doesn't always work. But if your original strategy lost a lot of money and lost it consistently (month after month), it will probably work. Finding support and resistance in an automated way... the closest thing I could come up with is using today's high and today's...

Well, my concept of "easy" is that I only worked on it for 12 years. I hope I am not in for any more surprises.

Yes, use time zones. Certain things happen at certain times. Also, as I said in another thread, there's a tendency of the markets to go up and down, more than in trends. So take a moving average, when price is above, go short, and when price is below, go long. It's not as simple but that's...

Thank you, Wayne, for your great posts (this part I wrote after reading them). I am going to reply as I read them. Thanks for the in-depth analysis of the "adding to losers" system. You confirmed to me that my estimates were close to reality. In fact, they were not correct first of all...

Thanks to everyone for their great feedback. You see, Prof, I am not sorry to be so open and sincere - out of 20 replies I only had to put one guy on my ignore list (the one who asked me if I was stupid). I think this forum (the Automated Trading section) is great. In the past 7 years all I got...

Thanks. Also, consider that for some people like me, manual trading is impossible, because their emotions make them do the wrong things. When I make a trade and it goes my way, I exit really quickly, because that's a "victory" to me and I want to seize it. No matter how much I trade, I keep...

"Destined" doesn't make sense to me. I am atheist. God didn't help me with programming, which was the hardest part. Who "destined" me to anything? The closest thing to God that I can see is money, and the things that helped me out: IB, Excel, my bank account, computers in general. Human progress...

Thanks, Ed. Good luck to you, too. "People will not comprehend...". That's right, I agree, and that's why I speak freely, and I am not afraid of giving away what I learned with great efforts/time. I am not afraid of giving away my secrets. Unless someone has been through everything, it will...