Experiments in Technical Analysis
- Thread starter karthikmarar
- Start date
Dear VPS
I do not know anything about Trade tiger. Can we build custom signals in Trade Tiger? Does it have inbuilt indicator functions?
If anwer to the above is no, then you cannot add any custome trade system to it. Then you have to depnd for some external software like amibroker or metastock with data feed.
Also if you can tell us what kind of trader are you it would help us advise better. Or you a day trader or apositional trader?
About the last part of your question..
Any trading system has essentially three steps or stages. The first one is called the "Setup". when the set up conditions occur we are ready to execute a trade. Here the 13 day exponential moving average of the close crossing above the signal line is the set up condition.
Next is the entry point. The entry point is an event on the occurance of which we actually enter into the trade. In this case the entry occurs when the last higher pivot is broken. This is one of the first system in the forum to implement saints pivot systems. Now more systems are available.
Finally at some point we have to exit the trade which we executed. The exit point is an event on the occurance of which we will exit our trade either book profit or loss. I am trying to put it in a simple manner. There is more to a Trading system like Money Management which play a very important role in the whole trading strategy.
The signal line we used here is a 9 day moving average of the 13 day exponential moving average.
I presume that you are quite new to Technical analysis. I suggest that you go through saint's thread " Teaching a Man to Fish.." which explains the basic framework of Technical Analysis ina simple and elegant way.
I do hope that I have been able to throw some light on your queries.
regards
I do not know anything about Trade tiger. Can we build custom signals in Trade Tiger? Does it have inbuilt indicator functions?
If anwer to the above is no, then you cannot add any custome trade system to it. Then you have to depnd for some external software like amibroker or metastock with data feed.
Also if you can tell us what kind of trader are you it would help us advise better. Or you a day trader or apositional trader?
About the last part of your question..
Any trading system has essentially three steps or stages. The first one is called the "Setup". when the set up conditions occur we are ready to execute a trade. Here the 13 day exponential moving average of the close crossing above the signal line is the set up condition.
Next is the entry point. The entry point is an event on the occurance of which we actually enter into the trade. In this case the entry occurs when the last higher pivot is broken. This is one of the first system in the forum to implement saints pivot systems. Now more systems are available.
Finally at some point we have to exit the trade which we executed. The exit point is an event on the occurance of which we will exit our trade either book profit or loss. I am trying to put it in a simple manner. There is more to a Trading system like Money Management which play a very important role in the whole trading strategy.
The signal line we used here is a 9 day moving average of the 13 day exponential moving average.
I presume that you are quite new to Technical analysis. I suggest that you go through saint's thread " Teaching a Man to Fish.." which explains the basic framework of Technical Analysis ina simple and elegant way.
I do hope that I have been able to throw some light on your queries.
regards
Kartik Sir,
Thanks a mil for your reply. Reg Trade I hv to check. I donot thing any can be added to it
I know Pivot system reasonably well. I have been reading Saint Sir's thread regularly.
I entered day-trading stupidly and lost some money. Earlier I had invested thinking of a term of 6-9 mths. Which trade will suit your thread day or medium term trade. I like the thrill that day trade gives you. I have the nerve thats required for day trade. I will do paper trade for some before I start off. Whats your advice?
vps
Thanks a mil for your reply. Reg Trade I hv to check. I donot thing any can be added to it
I know Pivot system reasonably well. I have been reading Saint Sir's thread regularly.
I entered day-trading stupidly and lost some money. Earlier I had invested thinking of a term of 6-9 mths. Which trade will suit your thread day or medium term trade. I like the thrill that day trade gives you. I have the nerve thats required for day trade. I will do paper trade for some before I start off. Whats your advice?
vps
Dear VPS
It is absolutely necessary to prepare one self for trading. It is quite unfortunate most of the new comers straight away jump into day trading without the least preparation. The same guy would practice for days preparing himself for a friendly neighborhood cricket match.
It is really good that now you have decided to do the preparatory work. A simple strategy would be
1. Choose a strategy that suits you well. If you are conversant saints system you could choose that.
2. Do some paper trading. Of course the paper trading lacks the thrill and tension of the real trading. Also the disciple is lacking since you are not using real money. Recently I came across a nice idea from one of our member. He fixed the capital. Whatever he lost overall after a period would be compulsorily donated to an orphanage. If he makes profit he will not donate anything. So he added some element of real money.
3. Keep stop losses and execute them diligently even if you are not using real money. Disciple is very important in Trading.
4. As you gain confidence slowly start trading in a small way. Dont go all out. As the confidence increases you can slowly increase.
Most important thing is that Paper trading would so different from real trading. But it does help to learn
Wishing you all the very best to your learning process. They are so many wise people here like saint and asish who would be only ready to guide.
Regards
It is absolutely necessary to prepare one self for trading. It is quite unfortunate most of the new comers straight away jump into day trading without the least preparation. The same guy would practice for days preparing himself for a friendly neighborhood cricket match.
It is really good that now you have decided to do the preparatory work. A simple strategy would be
1. Choose a strategy that suits you well. If you are conversant saints system you could choose that.
2. Do some paper trading. Of course the paper trading lacks the thrill and tension of the real trading. Also the disciple is lacking since you are not using real money. Recently I came across a nice idea from one of our member. He fixed the capital. Whatever he lost overall after a period would be compulsorily donated to an orphanage. If he makes profit he will not donate anything. So he added some element of real money.
3. Keep stop losses and execute them diligently even if you are not using real money. Disciple is very important in Trading.
4. As you gain confidence slowly start trading in a small way. Dont go all out. As the confidence increases you can slowly increase.
Most important thing is that Paper trading would so different from real trading. But it does help to learn
Wishing you all the very best to your learning process. They are so many wise people here like saint and asish who would be only ready to guide.
Regards
Biggles
Sorry , I missed this one.
Personally I am not a great fan of the Bollinger bands. Although many fancy the BBands a lot, I could not find it suitable for Trading. But to use as complimentary signal it was good.
Anyway I will share the bit of understanding I have on BBands. One of the most popular ideas for breakout detection from a BB squeeze is what is widely known as the TTM squeeze. This was developed by some the Tradestation group members ( as I understand).
The idea is to use a combination of Bollinger Bands and Keltner channels. I will not go into the details and construction of keltner channels which I presume that you are already aware.
If you plot the BBands and Keltner channels you will see that when the BBs get squeezed they fall within the Keltner channels. Once they expand the BBs will go out of the K channels. So if we check the ratio s of the BB and K channels we can find if the BBs are squeeze and also then they expand.
Additionally we can use momentum signal to indicate the direction to trade. When the BB expand and the momentum is positive go long and vice versa.
I am enclosing a simple chart showing such an indicator in Amibroker. It just a simple rehashed indicator form the net. The indicator shows the squeeze and expansion. If the indicator is above 1 and green in color then the BB is squeezed. When it crosses below 1 (red) the BBs are expanding. Check what is the momentum during that tome and trade accordingly.
A word of caution, IMHO just trading on BB expansion without any other indicator is not a very good idea.
Sorry , I missed this one.
Personally I am not a great fan of the Bollinger bands. Although many fancy the BBands a lot, I could not find it suitable for Trading. But to use as complimentary signal it was good.
Anyway I will share the bit of understanding I have on BBands. One of the most popular ideas for breakout detection from a BB squeeze is what is widely known as the TTM squeeze. This was developed by some the Tradestation group members ( as I understand).
The idea is to use a combination of Bollinger Bands and Keltner channels. I will not go into the details and construction of keltner channels which I presume that you are already aware.
If you plot the BBands and Keltner channels you will see that when the BBs get squeezed they fall within the Keltner channels. Once they expand the BBs will go out of the K channels. So if we check the ratio s of the BB and K channels we can find if the BBs are squeeze and also then they expand.
Additionally we can use momentum signal to indicate the direction to trade. When the BB expand and the momentum is positive go long and vice versa.
I am enclosing a simple chart showing such an indicator in Amibroker. It just a simple rehashed indicator form the net. The indicator shows the squeeze and expansion. If the indicator is above 1 and green in color then the BB is squeezed. When it crosses below 1 (red) the BBs are expanding. Check what is the momentum during that tome and trade accordingly.
A word of caution, IMHO just trading on BB expansion without any other indicator is not a very good idea.
Dear karthik
Could you please look the AFL for Thomas DeMark Sequential System
on http://www.traderji.com/technical-analysis/23286-thomas-demark-sequential-system.html
and see the rules required to identify day10,11,12 and13 and and write an AFL to display the same.
Thanks & Regards
ken
Could you please look the AFL for Thomas DeMark Sequential System
on http://www.traderji.com/technical-analysis/23286-thomas-demark-sequential-system.html
and see the rules required to identify day10,11,12 and13 and and write an AFL to display the same.
Thanks & Regards
ken
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