4X Made Hard

[JR97]

Quote from TGM:

On another note ---you are one hell of and excel programmer. I am impressed. Was it difficult for you to do all that? Are trading prop for someplace?

Thanks for the compliment. I'm more for an excel doodler than programmer. It took about year to get the live data into excel because there was no way to get historic prices on the fly easily. Once that became available, the rest fell into place rather quickly because I knew exactly what I wanted based on other excel based systems I've seen.

I'm not trading prop. Don't know much about that. I'm just a part time small time trader trying to get out of the dead end job or at least get a little more income.

 

[mahras2]

Great to see you here. Have followed your journal over at Moneytec and seen your solid results.
Have diversified my system to incorporate some key momentum based methods as well as applying a multiple timeframe setup. Should affect for the better.

Many pips to you.

 

[illiquid]

Quote from ElectricSavant:

I find that it is important when system trading to analyse the failures. I have learned recently that they reveal a lot, especially if your system has the high winrate yours does.
Michael B.

Definitely good advice here, the use of line charts easily erases most of the false signals a system might give out, while preserving all the winners. I take it the charts you show are just for illustrative purposes while the actual trading signals are numerically triggered? Or are you actually using the charts to provide visual crossover signals?

 

[TGM]

Quote from Samson77:

Nice method it looks very technically sound and it makes a lot of sense.

Thanks for sharing!

I use a similar method with Keltner channels, fibs, ema's etc....

The most difficult thing I find with trend following methods is finding good markets to trade.

I have used keltners since I first started trading (10years ago). It is rare to find people that use them. Most guys looked at me like I was nuts in Chicago years back when I said I use keltners! So out of curiosity how do you use them? To decide trend? I use exponential keltners mostly. How bout you?

 

[TGM]

Quote from JR97:

Thanks for the compliment. I'm more for an excel doodler than programmer. It took about year to get the live data into excel because there was no way to get historic prices on the fly easily. Once that became available, the rest fell into place rather quickly because I knew exactly what I wanted based on other excel based systems I've seen.

I'm not trading prop. Don't know much about that. I'm just a part time small time trader trying to get out of the dead end job or at least get a little more income.

What data feed are you using to feed excel? It is ashame we cant hook up Oanda to and outside charting source or excel.

 

[ElectricSavant]

Excuse the interuption,

A few years ago I discovered Keltners are extremey accurate when the instrument is in a sideways condition.

Michael B.

Quote from TGM:

I have used keltners since I first started trading (10years ago). It is rare to find people that use them. Most guys looked at me like I was nuts in Chicago years back when I said I use keltners! So out of curiosity how do you use them? To decide trend? I use exponential keltners mostly. How bout you?

 

[ElectricSavant]

TGM...I totally agree. wouldn't it be awesome if we could access the feed freely!

Quote from TGM:

What data feed are you using to feed excel? It is ashame we cant hook up Oanda to and outside charting source or excel.

 

[TGM]

Quote from ElectricSavant:

Excuse the interruption,

A few years ago I discovered Keltners are extremely accurate when the instrument is in a sideways condition.

Michael B.

Yes so are moving average envelopes if get the right setting. For instance Moving average envelopes set at .25 and 20 xma for the 15 Eur/usd or Gbp/usd are deadly. Same with Keltner exponential --about 2-2.5 around a 20xma (depending on the software).

They are great in a trend as well. If you have keltners set at say 2.5 with a 20xma and price breaks out of the channel and holds for a couple bars ---it ain't coming back.

 

[Slave2MYT$]

can u provide the moneytec link to your journal there?

thanks for sharing...

 

[JR97]

Quote from illiquid:

Definitely good advice here, the use of line charts easily erases most of the false signals a system might give out, while preserving all the winners. I take it the charts you show are just for illustrative purposes while the actual trading signals are numerically triggered? Or are you actually using the charts to provide visual crossover signals?

The charts do provide the visual.. but because the price line and the linear regression ma are pretty close, sometimes it's hard to tell.. hence the "status" indicator indicating green, yellow, or red. the numbers are how I find confluence among pivots, deviations, fibs, etc. Its a lot to look at at first, but having designed the thing, I can visually filter out and focus on what i need to see. I've also put in conditional formating to highlight key levels when price is within X amount of pips or change cell colors. eye candy stuff for the most part. The trained eye can spot all of that on a normal chart anyway.

My process is to actually just glance at the channels and look for a setup. If I see one, then I focus on the numbers and pick where I want to get in, pattern failure, and 2-3 profit targets.

If I'm in a trade, then I look for confluence and continuation while keeping on eye on eye on the trend direction index numbers watching for divergence. Nothing too far from what most momentum traders do.