Short term S&R system

[Enter Wisely]

Quote from bmwhendrix:

I think this system's strength lies in the set targets. I am more and more thinking that even a random entry utilizing stops would be profitable, if increasing fixed targets are used. Eventually a trend will happen and you will be in it, and no one knows how long they will last. However, most traders do not ride the winners.

Riding the winners is a common denominator of the best traders I know but I would not go as far as to say random entries will do it.

 

[flyingdutchmen]

Quote from asap:

dutch

tradesignal will not give reliable backtest results for code that uses a "buy at price + something of the previous bar stop" instruction rather the plain buy at market instruction.

they warn about this in their wiki but i think there is a huge flaw in their approach ats design anyway.

i have heard about this isue being dangerous and leading
to unrealistic results if using in
realtime trading, though it can be used for backtesting, but this only is valid for the THIS bar at price orders not the NEXT
bar at price orders i am using

btw this is tradesignal not tradestation it supports easy language
but skript language is equila
i have never worked with tradestation i can not compare

from their wiki (tradesignal)

This Bar at price

The trade is implemented to the indicated price. The orders are implemented independently from the current price, however the price is adapted, if it is more largely as the highest and/or smaller than the lowest of the current bar. The order is canceled, if it can not be implemented immediately. WARNING: This is an artificial commercial mode and leads to unrealistic trades, if it will be used for the generation of real-time trading. Use this mode in Backtesting, in order to generate actually implemented trades.

 

[Kris]

RT, does the scaling out with targets increase your win rate? What kind of winning percentage are you able to achieve for intraday?

 

[RoughTrader]

Quote from Kris:

RT, does the scaling out with targets increase your win rate? What kind of winning percentage are you able to achieve for intraday?

Hi Kris,

yes, it does. in general, you will find that the smaller targets you choose, the higher win rate you will have, but the average trade profit will decrease in tandem.

Consequently, all else being equal, the trade expectancy will remain roughly constant. However, the frictional costs of slippage, commish, and execution errors will erode the expectancy as the number of trades increases (due to more profit targets being hit).

Taking into account the frictional costs, you can find a balance to yield a more optimal trade expectancy.

rt

 

[propslave]

For the life of me couldn't get anything similar to this to come back profitable... I think I'm misunderstanding the process.

I'm assuming that the specific entry is quite important...

Selling the N high and buying the N low on a longer timeframe came back somewhat profitable. But buying the high and selling the low didn't...