Sackie's live trading experiment

Discussion in 'Share Investing Strategies, Theories & Education' started by Sackie, 20th Jun, 2021.

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  1. Brumbie

    Brumbie Well-Known Member

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    Canberra
    Edit: Just googled it.

     
  2. Oats

    Oats Well-Known Member

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    Rockingham, WA
    thank you for that, I apologise, I probably should have done that myself. All the YouTube videos I’ve watched have started to blur into one
     
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  3. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    Vaucluse, Sydney.


    HI @Brumbie

    Thanks for sharing your story, so many things you've said resonated with my own journey. And the 1m time frame..arghhh.. it killed me! I was literally going bonkers... my eyes were twitching like there's no tomorrow! Its interesting you have gone the automated trading route. So do you basically code your set ups to fire automatically when the parameters are met? Any discretion with your trading or is it purely automated? When i first started i had every indicator you could imagine. My charts were a fricken rainbow lol. Over the years I've realized they dont actually help me and i stripped the chart back bare to just price action which i find works much better for me.

    Can i ask, if you had to put down one of your biggest AHA moments, what would it be?

    Cheers
     
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  4. Sackie

    Sackie Well-Known Member

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    Welcome Oats, any particular style you've chosen to trade?
     
  5. Brumbie

    Brumbie Well-Known Member

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    Hey Sackie,
    Haha. I even tried 10s. What a joke. You need some serious drugs to cope with that.
    So, yes I have coded the strategies to fire only when baseline,trigger1 and T2 all align. I can still trade it manually but choose not too as I will hesitate on entry and then exit too early/late. It's a probability game. Let the math do the work. Far less stress and you often end up missing your entry because you were not there and then take a second best one when you are. I still stick to intra day periods. I am exploring swing trading like you do but the overnight interest is a profit killer. But then again your pips are way bigger probably to help absorb that cost. Or do you not have that cost with your broker?
    I have coded the scaling in/out,SL, risk size,time of day to trade,exits etc. Everything. I run an optimisation algo to check the indicator settings are optimal once a month or needs basis and test before I change.
    Mind you, I have only done this for two algo's so far. It took a years investment of trial and error coding and now another year of live learning, but now I am getting just a little better at it to expand my horizon. Luckily my algo seems to fit many markets so not much tweeking to do. But it won't work forever so I am always looking and trialing something new. Combinations are limitless. One thing I have learnt though. Less is better.
     
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  6. Sackie

    Sackie Well-Known Member

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    18th Jun, 2015
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    Location:
    Vaucluse, Sydney.
    Man your coding detail is amazing and your consistent approach across the board is kickass. I am unfortunately a little too 'discretionary' in my approach and it may come back to kill me. I cant ignore that possibility. Re coding I wouldn't even bother with coding because I know I would suck but I have been thinking to get a coder to create a signal alert for me when my set up occurs and i can manually take it or not. I just cant seem to give up some discretion. I dont want to change that part of my trading because so far its working, (the discretion) but I would love to get some of my setups coded to give me an alert across charts. Have you done this for anyone else for a fee?

    re swap rates, for Pepperstone I think its : Daily swap charge / credit = (One point / exchange rate) x (Trade size [or notional amount] x tom next)

    Definitely agree, less is more. Its been the case for me too. Also, simplicity works best (for me). Doesn't need to be fancy shmancy.
     
  7. Brumbie

    Brumbie Well-Known Member

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    Your too kind. I really am still at maybe just past beginner level with this. I think all I got right was recognising the need to have a strict rules based system. And I am not Robinson Crusoe there.

    Nothing wrong with using discretion at times. If you are in the zone and can feel the market then it can be an edge. When I used to do it manually some days I had 90% winners. Then when I wasn't (mostly), it all went to crap. Using the big time frames like you do allows you that luxury of having a good think about it. It just does not suit my personality in trading, but that does not mean it is not for you. If it's working then keep it. Change when it does not work anymore.
    Sorry I have not coded anything for anyone. I also only have got my head around the coding language of my platform and they are all a bit different. Alerts though should be in there on yours. I know with ProRealTime you can set an alert for just about everything singular or with a heap of conditions of other indicators,prices,levels,crosses etc. Very powerful. Not sure what you are using but maybe dust off the old manual mate and have a play around.
     
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  8. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    Trade: 1 (closed)
    Pair
    : USD/CAD
    Time frame: 4h chart
    Trading direction: Long.
    Comments: closed on price action.
    Win/loss:
    win
    Risk to reward: 1:2
    Running Equity: $260.20.
    (I actually started before the first trade on just over $250.)


    Screenshot a moment before closing.
    Screenshot_20210621-232354_MetaTrader 5.jpg
     
    Last edited: 22nd Jun, 2021
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  9. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
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    Location:
    Vaucluse, Sydney.
    Trade: 2 (open)
    Pair
    : USD/CHF
    Time frame: 4h chart
    Trading direction: short (down)
    Comments: Entered after engulfing candles and wick for possible reversal. I'm not happy I took this trade as I really want to steer away from reversals and trade the setup on possible trends. I need to be (as usual) more patient. Anyhow the setup is valid. My phone isn't opening the trading app for some reason so I've had to screenshot it from computer. Red line is stop loss, green is entry.

    usdchf.PNG
     
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  10. Sackie

    Sackie Well-Known Member

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    Location:
    Vaucluse, Sydney.
    Thanks for the motivation re attempting to figure out how to code my setup. I might have to give it a go one day or pay to get it done. It would make me a lot more efficient at times. Yes the 4h and daily give me plenty of time to prepare. Also i don't want to spend too much time in front of the screen... too much on my place most of the time so longer TF suits me. Cheers
     
  11. Piston_Broke

    Piston_Broke Well-Known Member

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    Margaritaville
    I already have 2 small shorts on this. Looking good so far I reckon.
    edit: USDCHF 15mn
    182.png
     
    Last edited: 22nd Jun, 2021
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  12. Sackie

    Sackie Well-Known Member

    Joined:
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    Posts:
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    Location:
    Vaucluse, Sydney.
    Trade: 2 (update)
    Pair
    : USD/CHF
    Time frame: 4h chart
    Trading direction: short (down)
    Comments: Moved the SL to break even (you can see on the chart)because if price retraces to my buy in point, the set up is invalidated anyway. So no point leaving a wider SL. So SL now at BE. Going to watch American Ninja 1 until I sleep. usdchf.PNG
     
  13. Sackie

    Sackie Well-Known Member

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    which pair is this?
     
  14. Piston_Broke

    Piston_Broke Well-Known Member

    Joined:
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    Location:
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    USDCHF

    Lol I did that for a while too, still have dozens of screen shots of under 1min charts.

    I started trading SPI index futures on daily charts. In those days you needed 10k just to open an account it that was very under capitalised.
    I made $1350 on my first trade, a good 1 week wages in one morning. It was an eye opener.
    After that it was small gains & losses for a while.
    Then i realised if I was close to a set up i could get a head start by watching US markets and placing trades on the night shift, by telephone of course.
    The trading went well, in 3 mths I more than tripled my account. The rest I can't even remember.
    3 mths with 2-3 hrs sleep a night is not good. I was a lil frazzled. Probably had eyes like Ozzie osbourne lol.

    Fortunately i found forex and Oanda where i could trade small amounts and test things out.
    As usual I started with daily charts and then started experimenting with smaller times frames.
    What a PITA but it took a couple years to snap out of it.
    Trading was different those days, and the carry trade was great till it ended.

    Then I started looking at MT4, I did not like. Fiddled with EAs and still think that MT4 testing is fake. The platform is sus too. Just imo.

    These days i use all time frames to make decisions but longer times frames.
    I did have a few years break and just getting back in the swing. Still like my daily swing charts.
    I just took a trade that may take days or weeks to finish.

    183.png
     
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  15. Sackie

    Sackie Well-Known Member

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    No wonder your usdchf price action chart looked so different to mine, your on 15mins :)
     
  16. Piston_Broke

    Piston_Broke Well-Known Member

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    It's not going to down if you keep looking at it, I'm short too. Turn it off! :p
     
  17. MTR

    MTR Well-Known Member

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    By timeframe?? You mean hours, days

    Is there a best option that has given you an edge
     
  18. MTR

    MTR Well-Known Member

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    Also anyone heard of this group? I have, seems good ratings?

    lots of info on youtube

    Forex Trading Course
     
  19. Brumbie

    Brumbie Well-Known Member

    Joined:
    5th Mar, 2018
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    Location:
    Canberra
    Shorting the USD you two, hey? I must admit I am on the other side of this one. Dollar to gain for the next few months.
     
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  20. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,034
    Location:
    Vaucluse, Sydney.
    Trade: 2 (closed)
    Pair
    : USD/CHF
    Time frame: 4h chart
    Trading direction: short (down)
    Win/loss: break even.
     

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