5% - 10% profit per day trading

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Quote from spanish89:

im looking at oil but no matter what time frame you look at theres no tradeable formations! :mad: :mad:


40.26 is support and has held well over last few days,
but it hasnt actually bounced oil up to anywhere,
merely allowed it to slide along it repeatedly.


So all i can see is maybe it doing a pendant by taking out 40.26, going down to test 39.86, and id liek to see it break through that then with some gusto to bring life back into oil
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Yeah i am not seeing anything solid in oil to trade atm.

Its 3 AM here and I have been up all night and need to go to work in a few hours. I am going get a few hours sleep. I'll be back on later in the morning.
 
Quote from spanish89:

38.62 and then 37.86

37.86 extremely strong support and huge buying level.
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we just hit .62 and bounced 15ticks... :)

now unless a strong reversal formation forms here look for 37.86 for the formation
 
i want to now see this piece of shit break through the 38.62 support, and so form a pendant formation on all timeframe charts,
and then il be loking to buy near 37.26
 
sigh :(

waited all week for this volatility and movement,
but when it finally come it happend too fast for anyone to catch...,
since there was no base reversal formation at all... :(
 
Quote from MJUK:

That looks fantastic.

Out of your results you posted, what percentage are based on the semi-automated system and what percentage based on your discretionary system?

You say your semi-automated system is based on volume and statistics are we talking market Profile or bolinger bands or something else?

Have you backtested your strategies?
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The semi-automated system that I use is based on (kind of strict) criteria. The way it basically works is that I pick the entries and the code I wrote picks the exits. The reason I pick the entries is because I know from experience that I am better at picking these entries and also simply because you can't write code that can mimic human intuition.

It is not based on market profile or bollinger bands or any of the usual indicators you will see. I started programming it last january and it took me the rest of the year to collect enough real time data to test it out. So in a way, I didnt really backtest it...I just tested it out on a demo platform in real time. I tested it on over 1500 demo trades. Due to the way it works, I dont know of any way to backtest it. Even paid for data wont do it.

So going back to what you asked about how many trades are discretionary, I would estimate that 95 out of 100 entries for the semi-automatic system are NOT discretionary. The other 5 are.

The reason it is not based off of the usual indicators (moving averages, bollinger bands etc) is because those indicators don't exploit any of the ways the market's internal mechanics work.

PM me if you have more questions....
 
Quote from spanish89:

Where on earth do you get spreadbetting crude oil with a 4ticks spread??! :eek: :confused: :eek:
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I am trading CFDs through marketindex (ABN Amro/RBS). I believe its different from spreadbetting...correct me if I am wrong anyone...
 
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