Advice from the experienced

V

vanilla2

I'm a new trader with good programming skills. I did discretionary etf trading for a month, but got frustrated after a month of hovering around breakeven. I set up tradestation to enhance my research about 10 days ago and have quickly reached programming proficiency on this platform. Unfortunately though, I haven't found a strategy with good results yet working 15 hours a day since I got the software besides fading MA crossovers (which is pretty weak). I'm stumped.

I started out optimizing the gammut of canned indicator crossovers and slopes. Predictably no good. Then I introduced stop loss, pullback and profit taking exits. Surprisingly, still no results. I see potential in a few good areas, namely adaptive MAs, fractal efficiency, double screen systems, NYSE $UVOL and $DVOL data, and SR levels... largely inspired by this board. Still, I am struggling to make these work and feel like I've tried everything. I would greatly appreciate direction from writers of successful mechanical systems who want to give back and help out a beginner.

How do mechanical SR systems work? What works?
 
Quote from vanilla2:

I'm a new trader with good programming skills. I did discretionary etf trading for a month, but got frustrated after a month of hovering around breakeven. I set up tradestation to enhance my research about 10 days ago and have quickly reached programming proficiency on this platform. Unfortunately though, I haven't found a strategy with good results yet working 15 hours a day since I got the software besides fading MA crossovers (which is pretty weak). I'm stumped.

I started out optimizing the gammut of canned indicator crossovers and slopes. Predictably no good. Then I introduced stop loss, pullback and profit taking exits. Surprisingly, still no results. I see potential in a few good areas, namely adaptive MAs, fractal efficiency, double screen systems, NYSE $UVOL and $DVOL data, and SR levels... largely inspired by this board. Still, I am struggling to make these work and feel like I've tried everything. I would greatly appreciate direction from writers of successful mechanical systems who want to give back and help out a beginner.

How do mechanical SR systems work? What works?
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I can hardly wait to see who chimes in to tell you "what works".
 
Quote from gnome:



I can hardly wait to see who chimes in to tell you "what works".
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Take Gnomes sarcasm seriously. There are not that many people with winning systems willing to offer tips. It is the game, keep going and you may find little bits here and there, but in the end it is you that will have to find what works.

Comp:p
 
Quote from compisnada2002:



Take Gnomes sarcasm seriously. There are not that many people with winning systems willing to offer tips. It is the game, keep going and you may find little bits here and there, but in the end it is you that will have to find what works.

Comp:p
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Isn't "sarcasm seriously" a nonsequitur?? :D
 
You sound frustrated too Gnome. I was vague. What I'm wondering is how you program a SR strategy. Using pivots that define ranges?
 
Quote from vanilla2:

You sound frustrated too Gnome.
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Well, but just a little. The last several months have been choppy and indecisive. That enviroment is going to be difficult for almost everybody. Those who are looking for "strong indication" don't get it, and most of those who trade heavily are making it one day, giving back the next. There's an old Wall Street saw... "Nobody makes money in a bear market". Not 100% true, but more so than not.
 
Quote from compisnada2002:



Yeah but the post was kind of unwarranted becouse this guy just got into the game.:D
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Oh, I wasn't knocking him/her, I am really curious to see who thinks they "know" and what wisdom they will share.
 
Quote from vanilla2:

You sound frustrated too Gnome. I was vague. What I'm wondering is how you program a SR strategy. Using pivots that define ranges?
More...

Can't help you with the programming, V2. I would claim to use a "fade S/R" method most of the time and can eyeball that from the charts.
 
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