PhiSquared2618

"A P&F chart does the same without requiring the tick data source."

 

Are you saying you can construct an accurate intraday P&F chart? Because unlike Tick charts, which are in minutes, classical P&F charts are daily/weekly, so utterly useless for intraday and short swing traders.

The answer to your question lies in the subtle difference between eg a x00 tick chart and eg a y minute chart which superficially look similar, but are not when getting down to the actual trading.

I recommend trying this out over a period of time and seeing what happens, if anything to your personal results.

But for longer time frames, the activity vs time issue is covered in Richard Arms's book about volume adjusted width price bars, whereby eg a high volume bar widens into a box, that is, it has more x axis allocated to that bar.

Volume = activity = momentum = open interest change=breadth, broadly speaking, but each has it's nuance and specialist inherent advantage. P&F is the activity variant.

I hope this helps clarify.

If you look at a tick chart, the horizontal axis is "activity" rather than time.

There are advantages to this setup over a "normal" price-time setup.

Mainly in the evaluation of trends and pullbacks vs directional moves.

A P&F chart does the same without requiring the tick data source.

There are ways to replicate this effect without either fine detail data source or use of P&F, but the P&F is available at incredibly low cost.

That's its value, provided the advantages of P&F are used by the chartist.

in my opinion ....

What are you saying? Are you saying that the opinions of rookie traders with no experience carry equal weight to those who may trade for a living?

Would you say the opinion of a tradesman's apprentice is as valuable as that of a journeyman with thirty years experience?.

No I did not say anything like that. I did not make a comment on anybody else's experience or lack of it. That was you.

"Everything matters"? What does that mean? I respond with, "Nothing matters". It is just as meaningless.

It is an answer to the thread from the OP. It is in context and very clear.

I said everything listed in the poll matters, and I said risk management is not listed, but it should be.

It is not meaningless. My statement "Everything matters" is crystal clear. Any weak part of the trading process will compromise the other parts sooner rather than later.

The points are all important, no weakness permitted, everything matters.

About 80% successful:

There are systems with a 10% success ratio but due to a very good profit:loss ratio they are profitable ....

Another option not above: risk management. Good risk management is what allows you to make money with a system which has a win:lose ratio of less than 55% .

Done! :)

Yloader V2.9.1.0 - 3/28/2009

http://www.multiupload.com/GTH6TF814T

Don't update it unless there is a "must have" feature in version 3, because V3 is not shareware - you have to pay.

Well I agree with you in the sense that trading merely needs a pair of eyes and a price chart.

The more I trade the less I need.

Some dealers I know memorise the levels and need no chart.

But for learners in particular, intuition decision making is getting very close to emotional decision making.

I think most traders learning trading by intuitive decision making would blow up before they found out what the important things really are.

well ,only after thousand of hours looking at charts or pattern you can make intuition or implicit learning ,i will tell this . Here an good article about this :

 

h**p://traderfeed.blogspot.com/2010/02/role-of-intuition-in-trading-decisions.html

A thousand hours is less than 1 year of daytrading.

I would suggest that 1 year of daytrading would teach most traders who last that long to leave intuition alone and stick with tested system rules.

Try this one:

Yloader V2.9.1.0 - 3/28/2009

http://rapidshare.com/files/426308163/setup.exe

Info at http://www.tradery.com

Latest version (V3) has an expiry date but the one above is open ended.

That is it.

My paper copy is dated 1966 published by Investors Press.

It was reprinted by Traders Press in 2001.

I do not know his spinnner indicator.

There is a "market wizards type" book describing the techniques of each of the early trading celebrities which has a section for each trader.

It's called A Treasury of Wall Street Wisdom - Harry Schultz

The microsoft website has a download for Windows Media Encoder which is a free download.

This will probably do what you need.

I always thought the market is unbalanced and bounces between possible balance points/attractor points.

A long time ago I tried Market Profile, but in the end decided that (for me) looking at where the consolidations in the lower time frame chart are is a more direct way of seeing the same information.

Not impressed with these "future" indicators.... :-l

Every momentum indicator shows "the future".

The problem is that

1 their divergences predict 10 out of the next 4 reversals.

2 they all give bad signals at the beginning of a new trend and attempt to tell you to reverse the swing which should now be over, but isnt.

Not the book but ... Erman wrote an article in technical Analysis of Stocks & Commodities on this subject.

You can read this article pdf file here:

http://ermanometry.com/TASC-LogSpirals.pdf

You might wish to read Bryce Gilmore, Steve Copan and Bradley Cowan for more on this kind of market structural movement.

Yahoo and Google Free Downloader;

Website with tutorials and explanations is here: http://www.yloader.com/

But do not use the latest version as it is no longer a free software.

Here is the previous (no expiry date) version of yloader:

hxxp://[email protected]/files/422547765/setup.exe

Have been doing an extensive research on how to trade without stoplosses and still be very profitable. I mean letting your losses run and still come out profitable on the long run. The secret to making this work is simply by pairing only very strong currencies together or very weak currencies together....

The research you have done Osaze: How much unoptimised data have you walked the system forward through?

I would expect that weak vs weak (or strong vs strong) currency pairs would reduce volatility, with reduced movement in both directions up-down.

But you seem to be saying that directional movement between the pair is selectively changed in favour of one currency over the other. This seems a difficult thing to achieve. Are you trading a directionally neutral system using pairs expected to cancel out each others moves?

Free historical data is available from Yahoo Finance.

Do you mean historical or live data?

I have only been watching market for maybe a month..

Consider watching it for six months to a year before risking real money and losing. This is not a long time to learn the behaviour of a complex creature.

You can paper trade until then and evaluate if you know enough so far.

cannot see any consistent patterns where I trust myself to go in and out for pips.

The equity charts you posted suggests your decision is correct, until something or several things change.

I was hoping a good EA would codify the required nerves and discipline.

It might do this. But do you know how to choose the correct EA yet?

The authors I've studied so far seem superficial. One spoke about double doji as his favorite signal but i noticed the market never reacts predictably one way or other to this "indicator."

There is no magic bullet. There is only understanding of the hints the market gives from time to time.

Everyone has their styles and philosophies.

The styles and philosophies may all be good at times, and bad at other times.

Personally I like the 1 minute candles.

Do you know why? Do you get a better insight with this chart form? If so stick with it and learn more. If you are not sure, use these but also learn more about other chart forms too, so you can make another choice later when you are better informed.

only wish someone could tell me which EA and what settings to apply.

The market tells you all anybody knows, and more than anybody else can tell you.

Even a ranging market has enough movement for scalping.

I think you should learn about support and resistance, if you do not already know this area of study. Then you can know when the market is ranging or trending from this moment forwards. Anybody can tell you if was ranging yesterday, but that is not helpful. You need to know what stops it doing the one, and change to doing the other - as the change occurs.

Is a waste of time sitting in front of computer unless you enjoy it.

I suggest you have a read of:

Technical Analysis of the Futures Market by John Murphy

Trading is a Business by Joe Ross

Volume and Open Interest by Ken Shaleen

and

The Undeclared Secrets of the Stock Market (or Master The Markets) by Tom Williams

Master The Markets can be downloaded here: http://www.tradeguider.com/mtm_251058.pdf

I assume you have already tried reversing the system signals on paper trading and found that this does not work either?

If not you might consider studying trading dicipline now.

The lesson is that systems don't beat the market, the market beats systems.

How does the market do this? It evolves to do it. It changes its behaviour.

So if your system is not robust it can not deal with even tiny changes in market behaviour.

So the hunt for the holy grail .... is a waste of time.

But you can not move on until you realise this.

Now is the time to study what the market can do, and when it changes, and what are the signs it gives us that it is changing.

This knowledge may get you into the position that you have a reasonable idea of when your system will work, and when it will fail.

Then you can recognise what are the signs of when to switch this system on and off, or when to use a different system altogether.

.... Do you know where we could find Gann's original works/paper/handwriting... I ve been searching for months but till now I just found a piece of that such as his books, a Soybean chart..., I think there have to be much more.

Do you know it?

Gann's original scripts are available in the file sections of these Gann groups. (You may have to join before accessing)

hxxp://[email protected]/group/Time-Price-Research-II/

hxxp://[email protected]/group/gannstudygroup/

Hi Guys,

Is there really any profitable forex trading system or strategy out there.. with at least 95% accuracy if not 100%.

... Fxprofits

No there is no magic system.

What you are looking for is a system with 5-20% profitability.

Breakeven is a big achievement at first.

That could be achieved with a system which wins one trade and loses 9 trades. (win:lose ratio 1:9) provided the wins are bigger than the losses, (profit:loss ratio 10:1) in this example.

Hurry and download before EWEF freeze it up....

 

William Garrett - Investing for Profit with Torque Analysis

http://www.mediafire.com/download.php?nyniz2iwrnn

This link has expired for this, or it has been withdrawn.

If anyone has it -would you please upload again to a new link?