Chimp Charts and TradeStation
- Thread starter bobcathy1
- Start date
THE CHIMP IS BACK......
Made two great trades today with it on ES...one gained 2 points and the other gained 4. Followed perfect strategy.
I am trying to cut my trading down to 4 or less trades a day. Ride the trends a little longer. Did a lot of backtesting to get to this. The past few weeks were rough. Trying all kinds of methods.
Sometimes you gotta learn the hard way!
Made two great trades today with it on ES...one gained 2 points and the other gained 4. Followed perfect strategy.
I am trying to cut my trading down to 4 or less trades a day. Ride the trends a little longer. Did a lot of backtesting to get to this. The past few weeks were rough. Trying all kinds of methods.
Sometimes you gotta learn the hard way!
For all you chimp enthusiasts.....I have done some alterations to make this work better in a choppy market.
the ma's are 5, 20, 65 and 195
the stochastic has be lenthened to 20 as well.
I also ran it with a 5, 30. 65 and 195. Seemed to work as well. but the drawdowns could shake a small trader out as it oscillates.
Remember, when the crosses on the smaller MAs are between the lines of the bigger ones, it is very risky to trade them.
The best spot seems to be the first small cross after the large cross in the same direction.
And always trade during the busier times of day......stay away from low volume...... it ruins the moves......
This is not a lot of trades in a day.....but it does work.
the ma's are 5, 20, 65 and 195
the stochastic has be lenthened to 20 as well.
I also ran it with a 5, 30. 65 and 195. Seemed to work as well. but the drawdowns could shake a small trader out as it oscillates.
Remember, when the crosses on the smaller MAs are between the lines of the bigger ones, it is very risky to trade them.
The best spot seems to be the first small cross after the large cross in the same direction.
And always trade during the busier times of day......stay away from low volume...... it ruins the moves......
This is not a lot of trades in a day.....but it does work.
ive read all the 'chimp' threads and wondered in terms of profit, how much bobcathy is making in a year on this strategy? not that i want to pry, but ive never seen so many changes to the same strategy and still seen profits at the end of it? thanks
Pete
Pete
understood. hope that you can make it profitable.
Pete
Pete
This market is all about when NOT to take a trade.
When you are used to 20 or more RTs in a day like I am, it is strange to say the least!
Any system can work in a trending market. Chop is a challenge ever for experienced traders.
I find when I choose the ones with the best signals, I do a lot better. So I am down to 4 trades a day. On ES.
If you are up at 3 am, there is a lot of movement then.
One really nice one between 7-8 am.
One from around 10-11 am
One somewhere in the afternoon, the time varies.
And the 3:30 trend.
All need confirming stochastics, confirming MAs.
When you are used to 20 or more RTs in a day like I am, it is strange to say the least!
Any system can work in a trending market. Chop is a challenge ever for experienced traders.
I find when I choose the ones with the best signals, I do a lot better. So I am down to 4 trades a day. On ES.
If you are up at 3 am, there is a lot of movement then.
One really nice one between 7-8 am.
One from around 10-11 am
One somewhere in the afternoon, the time varies.
And the 3:30 trend.
All need confirming stochastics, confirming MAs.
Today was interesting to say the least.
Some very juicy trades to be had.
Though all the oscillators seem to be broken.
And the market has no major direction, so taking entries both short and long worked well.
I have found, if you have one nice day, it will be followed by a nasty choppy one. So I would beware of tomorrow. Take all those profits nice and early if you insist on trading it.
Keeping it simple works the best.
Some very juicy trades to be had.
Though all the oscillators seem to be broken.
And the market has no major direction, so taking entries both short and long worked well.
I have found, if you have one nice day, it will be followed by a nasty choppy one. So I would beware of tomorrow. Take all those profits nice and early if you insist on trading it.
Keeping it simple works the best.
Back testing update. This is a constantly evolving strategy.
I no longer use 2 MAs from the 13 minute longer average. Just one does it just fine. I am using a longer set of averages.
I seem to find right now 5.45,195 MAs work the best.
Also change the middle moving average according to the chop. 15,20,30 or 45...... I always like a one minute chart. And if there is a chop, do not try to make a targeted amount. Take what you can get. If the chops are short, put the trade on for a few minutes. Take the 1/4 point if that is all you can get.
Also pay attention to the volume. That is the most valuable indicator you have of price changes. Exits are often based on changes in volume.
PS. I still can't seem to put this in an automatic program!
I no longer use 2 MAs from the 13 minute longer average. Just one does it just fine. I am using a longer set of averages.
I seem to find right now 5.45,195 MAs work the best.
Also change the middle moving average according to the chop. 15,20,30 or 45...... I always like a one minute chart. And if there is a chop, do not try to make a targeted amount. Take what you can get. If the chops are short, put the trade on for a few minutes. Take the 1/4 point if that is all you can get.
Also pay attention to the volume. That is the most valuable indicator you have of price changes. Exits are often based on changes in volume.
PS. I still can't seem to put this in an automatic program!