hmm.no edges in the markets
- Thread starter chimera
- Start date
Quote from wrbtrader:
What's the code for telling automated trading system to "ignore" any entry signal that occurs within 10 minutes of any North American or European schedule market event or any breaking global news event.
The above can be easily executed by a rule base discretionary trader.
You already answered your question "schedule market event " that would be easy.
The last part "breaking global news event" is just that "breaking" a discretionary trader would be just as vulnerable.
Quote from wrbtrader:
What's the code for telling automated trading system to "ignore" any entry signal that occurs within 10 minutes of any North American or European schedule market event or any breaking global news event.
The above can be easily executed by a rule base discretionary trader.
easy peasy, you almost wrote that in pseudo-code. clear.
however you threw in 'any breaking global news event' for laughs? tougher but doable.
(remember the micro flash crash on the AP twitter hack)
EDIT: Tonka beat me to it. nuff said
Well stated, satchel. Now the real traders have step forward and the mystics and positive thinkers have been neutralized. surf
I keep hearing its doable. If so, what's the code...use any program you want to identify breaking global news events as it is occurring. Obviously the before 10 minutes isn't possible.
The issue would be the 10 minutes AFTER a breaking global news event by the FED, ECB, IMF, EuroZone or whatever. I just don't believe you can code a program to react to breaking news if your trade signal occurs within that 10 minute window. A computer doesn't know which breaking news is important and which are not. In contrast, a discretionary trader will react differently than the computer will and react differently to another discretionary trader.
For example, I saw 4 global breaking news events today. Someone else said he had 9...another said only 3. Tomorrow, if the same events were to occur again...maybe only 2 of them will be important based upon the overall market context for that trading day.
Anyways, use any program you have access to and code it if its easy or doable. In the meantime, I'm just monitor the real-time news feeds and then use "discretion" to determine which of those breaking global news events merits monitoring while I'm in a trade.
Disclaimer: I'm not a programmer. As stated, I'm a rule base discretionary trader. Therefore, if a programmer say you can program breaking global news events...I'm just curious to see what that code would look like.
By the way, on a funny note, I have a rule not to take a trade when my kids come into my home office while I'm trading. Is it possible to program (automate) closing my trade position when my kids walk through the door versus another adult that walks through the door. That's something I would love to automate via a computer code that determines if the trade distraction is children or adult.
P.S. It's obvious I'm not talking about Technical Analysis. I'm talking about things that a rule base discretionary trader has the ability to react too that are not related to TA.
Note: I quoted your above quote before you deleted it.
Lets see if this will be another agreement you will NOT keep your word. You said you're finished trying to find the truth. I hope that implies you will stop trolling from thread to thread challenging folks to prove to you that "price action trading" with a complete trading plan can be consistently profitable.
Yet, just in case you will break another promise to the forum of Elitetrader.com, you have seen evidence that price action trading can be consistently profitable. The issue is that you refuse to believe the evidence. Thus, you should stop pretending that traders are avoiding you. My guess is that they got tired of responding to you after you refute every source of evidence thrown your way.
1) Live calls not good enough
2) Broker statements not good enough
3) Price Action within a complete trading plan containing other important trading tools is consistently minimized by you as not needed by the trader.
Don't you get it, you don't deserve to have anything proven to you because of your posting habits. Folks just don't care to take the time & energy to satisfy your need. The good thing is that you've stop requesting ACCESS to the in-depth details to their trade methods so that you can try it for yourself to ensure it really works.
P.S. Please continue monitoring "Cornix TA Performance" thread for a few years as a source of evidence. You can also talk to Timothy Sykes and Alla Peters because they're traders that uses price action trading within their trading plan of several trading tools. The latter are also folks you personally know and you have stated publicly that their trading is "impressive". You even went as far to post one month of broker statements of T. Sykes trading as "proof" he's a profitable trader. You should also talk to Lescor (ET member).
P.S.S. As a reminder, your debate in reality should be towards automated traders of price action. Yet, you consistently debate with discretionary traders of price action that don't use any automation in their trading. Thus, your frustration is due to debating with the wrong folks.