AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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The gentlemen who wrote quotetracker is on this board
his handle is j_medved. I am sure he would be glad to help you, cool guy and a great little program. Check out the Renko charts great for easily tagging near term support and resistance.
Medved sold out so isn't he finished with quotetracker.
Charly did you configure api on tws with trusted ip address 127.0.0.1
his handle is j_medved. I am sure he would be glad to help you, cool guy and a great little program. Check out the Renko charts great for easily tagging near term support and resistance.
Medved sold out so isn't he finished with quotetracker.
Charly did you configure api on tws with trusted ip address 127.0.0.1
I wanted to post my anchor chart from today. I am learning to trade off it exclusively and am very happy with the results.
It looks very confusing with trendlines everywhere. I kept all the trendlines on it from the day so you could see which lines I was watching. I mis managed one set up that cost me a lot of points but even with that mistake I ended with 30 points. I know Anek has been using his anchor more and more and with his help and others like hwk I am beginning to see the benefit of it. Anyway I hope it helps. Have a great weekend
It looks very confusing with trendlines everywhere. I kept all the trendlines on it from the day so you could see which lines I was watching. I mis managed one set up that cost me a lot of points but even with that mistake I ended with 30 points. I know Anek has been using his anchor more and more and with his help and others like hwk I am beginning to see the benefit of it. Anyway I hope it helps. Have a great weekend
Here is a little spreadsheet that calculates the relationship between your hit ratio and the size of your profit targets and stop losses.
You can see, that trading NQ with 1 pt = $20
and your commisions are $4.70 per roundturn
if your stop loss is 2 tics ($40)
and you take profits at 10 tics ($200)
you need a hit ratio of at least 20% to be profitable, (breakeven is actually 18+%)
If you take 5 tic profits you need a hit ratio of
32% to breakeven.
If you hold out for 20 tic profit on a profitable trade, you only need an 11% hit rate to attain
profitability.
This will probably not format legiibly
$ per tic 20
tics $$
stop loss 2 $40
profit 10 $200
commision $4.70
total trades 10
profitable losing NET
hit ratio trades profit trades losses commision P&L
10% 1 $200 9 -$360 -$47.00 -$207.00
15% 1.5 $300 8.5 -$340 -$47.00 -$87.00
20% 2 $400 8 -$320 -$47.00 $33.00
30% 3 $600 7 -$280 -$47.00 $273.00
here is a pic
You can see, that trading NQ with 1 pt = $20
and your commisions are $4.70 per roundturn
if your stop loss is 2 tics ($40)
and you take profits at 10 tics ($200)
you need a hit ratio of at least 20% to be profitable, (breakeven is actually 18+%)
If you take 5 tic profits you need a hit ratio of
32% to breakeven.
If you hold out for 20 tic profit on a profitable trade, you only need an 11% hit rate to attain
profitability.
This will probably not format legiibly
$ per tic 20
tics $$
stop loss 2 $40
profit 10 $200
commision $4.70
total trades 10
profitable losing NET
hit ratio trades profit trades losses commision P&L
10% 1 $200 9 -$360 -$47.00 -$207.00
15% 1.5 $300 8.5 -$340 -$47.00 -$87.00
20% 2 $400 8 -$320 -$47.00 $33.00
30% 3 $600 7 -$280 -$47.00 $273.00
here is a pic
Send me a pm or let me know what problems you're having and I will be happy to get you going. For starters, go to the main QT window and click on Options then choose "Data Sources Proxies" and make sure u have everything configured like this:
<a href=http://www.freeimagehosting.net/><img src=http://img2.freeimagehosting.net/uploads/5d246bff19.png border=0 alt="Free Image Hosting"></a>
Once thats done make sure that IB is also selected for the backfill and historical backfill providers as well as indices. Then we can configure your API in Interactive Brrokers which I am willing to bet is the problem.
Take Care
i had the same problem today . QT was not updating my stocks (like aapl,goog) codes but was working ok with NQ and ES...this started happening after 12.30 pm ct
I need some suggestions on this. Since I can't trade live because of work right now, I downloaded a simulator called RapidSP that you can load old data with and trade in "real time" all the way up to 50x - so you can fast forward through parts of the day too. But it only allows minute charts not volume or tick charts.
There was a post awhile back in this thread comparing some of the volume charts to certain minute charts but I can't find it.
What would you all recommend for NQ as far as entry and anchor using minute charts? What about ES?
Thanks for any help!
There was a post awhile back in this thread comparing some of the volume charts to certain minute charts but I can't find it.
What would you all recommend for NQ as far as entry and anchor using minute charts? What about ES?
Thanks for any help!
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